Shareholders Equity

Shareholders Equity

 

Each shareholder has the right to attend the General Assembly meetings either in person or by proxy. A shareholder, other than a member of the Board of Directors, may not appoint a member of the Board of Directors as his proxy in the General Assembly meeting. For the authorization to be valid it should be in the form of a Power of Attorney and the proxy must be a shareholder.

 

A shareholder may not represent by proxy a number of votes exceeding 10% of the Company’s capital nominal shares or 20% of the shares represented in the meeting.

 

The Board of Directors must be represented in the General Assembly meeting by at least the quorum required for the validity of the Board’s meetings, unless in cases when the number of the members of the Board of Directors is less than the quorum. Members of the Board of Directors shall not be absent from the meeting unless for a plausible excuse.