Cabinet proposes Rada reduce quorum for JSC shareholders' meetings to 50% plus one share this year

16:03, 06.03.2015 1 min read

The Ukrainian Cabinet of Ministers has proposed the Verkhovna Rada by adopting a new law reduce the quorum required for holding general shareholders' meetings of joint-stock companies from 60% to 50% plus one share this year but not from January 1, 2016.

This initiative is contained in bill No. 2273, registered in the parliament on March 2.

"To ensure the state's non-discriminatory approach to all joint-stock companies, the bill proposes now [but not from January 1, 2016] introducing the reduction of the quorum for all joint-stock companies, including companies with the state corporate rights in their capital or those in which the state holds 50% or more common registered shares," reads an explanatory note to the document.