GENERAL
ASSEMBLY OF THE SHAREHOLDERS
The General Assembly of the
Shareholders represents the whole of the shareholder and
of their debates carried out under the laws and the provisions
of the Constitutive Document; the decisions adopted by it
are binding for all shareholders. The Shareholders' General
Assembly can be an ordinary or an extraordinary one. The
Ordinary General Assembly of the Shareholders shall be summoned
by the Board of Directors, by the chairman or by another
manager based on the power of attorney given by the chairman
at least 15 days before the meeting date. The Ordinary General
Assembly of the Shareholders takes place at least once a
year. The Shareholders cannot be represented in the General
Assembly by no other than the company's shareholders based
on a special power of attorney certificated by signatures
and stamp by the privatization support committees. The General
Assembly Decisions are binding even for the shareholders
who did not attend the assembly either themselves or by
power of attorney. The Ordinary and Extraordinary General
Assemblies of the Shareholders are chaired by the Chairman
of the Board of Directors. Should the latter fail to attend
the Assembly shall be chaired by a manager appointed by
the chairman. |
BOARD OF DIRECTORS
The Ordinary
General Assembly of the Shareholders shall elect with a
simple majority of votes the Company's as per the provisions
of the Company's Articles of Association, shareholders and non-shareholders,
provisory and revocable for a 4 year period.
The selection of
the managing directors is performed by the General Meeting
of Shareholders from the persons registered on the candidate
list , in compliance with the Organizational and
Operational
Regulation of the Managing Board of Directors, approved
by the Decision of the Extraordinary General Meeting.
The Board
of Directors shall meet once a month and whenever necessary
at the company's head office or in any other locality, upon
the chairman's summons or at the request of more than a
3rd of the managers. The decisions of the Board of Directors
shall be taken with the absolute majority of the attendants
by open vote. In case of equal number of votes the Chairman
of the Board of Directors shall cast the decisive vote.
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