Business news from Ukraine

The general meeting of shareholders of a joint-stock company (JSC) during the war can only be held remotely, such changes to the decision on the functioning of the management bodies of the JSC for the period of martial law were made by the National Commission on Securities and the Stock Market of Ukraine (NKTSBFR).
“Their organization must comply with the rules of the Interim Procedure for Convening and Remote Holding of a General Meeting of Shareholders and a General Meeting of Participants of a Corporate Investment Fund,” the regulator said in a statement.
The corresponding decision of the National Securities and Stock Market Commission No. 250 of April 4 is published on its website and has already entered into force.
As previously reported, the Commission extended the powers of the management bodies of the JSC, which expire during the period of martial law, if it is impossible to hold a general meeting of shareholders.
“The general meeting of shareholders of the joint-stock company must be held within 90 days after the end of martial law,” the decision of the regulator No. 177 of March 16 specified.
By another decision, No. 176 of March 16, the NSMSC approved the procedure for holding a general meeting for the period of martial law. The key changes compared to the usual procedure was the possibility of placing a voting ballot in free access for shareholders no later than nine days, and candidates for JSC bodies no later than three days before the date of the meeting.
In addition, various protocols of the voting meeting can be signed with a qualified electronic signature.
Another condition for holding the meeting is the inclusion in the list of shareholders and notification of the owners of at least 95% of the company’s shares (excluding shares in the accounts of custodians who left the market and excluding shares bought out by JSCs).