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Rada decreases quorum for shareholders' meetings to 50% plus one share

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Rada decreases quorum for shareholders' meetings to 50% plus one share
Photo: Ivan Chernichkin

The Verkhovna Rada of Ukraine has adopted a new law on decreasing the quorum needed to hold a meeting of shareholders of joint-stock companies from 60% to 50% plus one share.

230 MPs voted in favor of bill No. 1310.

Companies whose shares are not owned by the government will be subject to the new law starting from January 1, 2016.

As reported, the state owns 50% plus one share in Ukrnafta, while a group of companies affiliated with shareholders of Dnipropetrovsk-based PrivatBank holds about 42% of shares. Therefore, decisions on changing the company's management, distribution of net profit and the payment of dividends were delayed.

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