Question:

We plan to convene the General Meeting of Shareholders to decide on some important contents of the company. Please provide the conditions for holding the General Meeting of Shareholders of the joint stock company?

Answer:

The conditions for conducting the General Meeting of Shareholders are stipulated in Article 141 of the Law on Enterprises. Accordingly, the General Meeting of Shareholders shall be held when it is attended by a number of shareholders represent at least 51% of votes; the specific ratio shall be prescribed by the company’s charter.

If the conditions for holding the first General Meeting are not satisfied, the second General Meeting shall be held within 30 working days from the intended date of the first General Meeting, unless otherwise prescribed by the company’s charter. The second General Meeting of Shareholders shall be held when it is attended by a number of shareholders represent at least 33% of votes; the specific ratio shall be prescribed by the company’s charter.

If the conditions for holding the second General Meeting are not satisfied, the third General Meeting shall be held within 20 working days from the intended date of the second General Meeting, unless otherwise prescribed by the company’s charter. In this case, the second General Meeting of Shareholders shall be held regardless of the number of votes of the attending shareholders.