The Ordinary General Meeting of Shareholders Clause Samples
The clause titled "The Ordinary General Meeting of Shareholders" defines the procedures and requirements for holding the company's regular annual meeting of shareholders. It typically outlines when and how the meeting is convened, who is entitled to attend and vote, and the standard agenda items such as approval of financial statements, election of directors, and appointment of auditors. By establishing a clear framework for these meetings, the clause ensures that shareholders have a formal opportunity to exercise their rights, participate in key company decisions, and maintain oversight of management, thereby promoting transparency and good corporate governance.
The Ordinary General Meeting of Shareholders. ▪ shall assign the distributable annual profit, less the preferred dividend (dividende préciputaire) to the general partners, to the creation of optional reserves, the retained earnings account and/or the distribution of a dividend to shareholders; ▪ may decide to distribute monies deducted from the reserves and premiums at its disposal; however, dividends shall first be deducted from the distributable annual profit; ▪ may decide, for any dividend distributions, interim dividend payments or distributions from reserves or premiums; or for any reductions of capital, that said distributions or reductions of capital shall be made, in whole or in part, in kind by transferring the Company’s securities held as investments or its assets; and ▪ may offer an option between payment in cash or in shares for all or some of the dividend or interim dividend payment distributed to shareholders.
The Ordinary General Meeting of Shareholders approving the annual financial statements may grant to the members of the Supervisory Board a variable remuneration, depending on how the achieved indicators and performance objectives are achieved.
The Ordinary General Meeting of Shareholders shall decide The term of office of each member of the Supervisory Board is of three years (renewable). If there is a vacancy as a result of death, resignation or for any other reason, of a member of the Supervisory Board designated by the Ordinary General Meeting of shareholders, the Supervisory Board may temporarily co-opt one or more members as a replacement for the remaining term of office of the replaced member; any co-option shall be approved by the next Ordinary General Meeting of shareholders. If it is not, the decisions of the Supervisory Board taken during the term of office of the co-opted member shall remain valid nonetheless. The General Meeting takes note of the approval of this resolution, by way of a separate deed, by the Company’s General Partners.