Putin extends permission not to account votes of shareholders from unfriendly countries
The document covers joint stock companies operating in energy, machinery construction and trade sectors.
Russian President Vladimir Putin renewed the permission for certain Russian companies not to account votes of shareholders from unfriendly countries until the end of 2025.
The decree of the head of state was posted on the legal information website. The document covers joint stock companies operating in energy, machinery construction and trade sectors. They should conform to certain criteria, for example, if sanctions are introduced against owners or beneficiaries by other countries or unfriendly nations. Another criterion is that foreign persons related to unfriendly countries have participation units or shares in the authorized capital of such company but not above 50%.
Resolutions of joint stock companies will be therefore approved by the majority of votes of other members irrespective of provisions in constituent documents and the corporate agreement.
Source
Russian President Vladimir Putin renewed the permission for certain Russian companies not to account votes of shareholders from unfriendly countries until the end of 2025.
The decree of the head of state was posted on the legal information website. The document covers joint stock companies operating in energy, machinery construction and trade sectors. They should conform to certain criteria, for example, if sanctions are introduced against owners or beneficiaries by other countries or unfriendly nations. Another criterion is that foreign persons related to unfriendly countries have participation units or shares in the authorized capital of such company but not above 50%.
Resolutions of joint stock companies will be therefore approved by the majority of votes of other members irrespective of provisions in constituent documents and the corporate agreement.
Source