Joint Stock Company

JOINT STOCK COMPANYShareholders’ general meeting (SGM)Board of directors (BOD)Supervisory board (SB)All investors of enterpriseDon't have chairmanJoining the meeting => all shareholdersTypes of shareholdersPower: decide all issuesMeeting conduction: Decision making:Highest decision makingOrdinaryPreferenceOthersVotingDividend: receive more profit Redeemable: company buy back before others Only founding shareholdersHold 3 years -> become ordinaryCan vote, can't transfer, don't receive dividendIssuing more share DividendBuyback1st: >50% of total votes 2nd: ≥ 33% of total votes 3rd meeting: irrespective Preference shareholder rightsSpecial caseNormal case Chosen by SGMCan have 20% independent member -> work free, for their reputationsPower of BoD:Meeting conduction:Decision making: >½ attending membersChairman of BoD: decided by BOD Vote chairman: >½ of attending membersWhat are already approved by shareholder general meetingBoD want to do sth outside the plan/ invest more than 50% of capitalBoD do sth which SGM don't approveIssuing more shares: price of share Dividend: when to pay, how to payBuyback: <10% of the sold shares1st: >= ¾ total member 2nd: >½ total memberBOD can convene an emergency meetingOptinalElect new member of BOD/ SBHow many shares, what kind of sharesHow much to pay ≥ 10 - ≤ 30% of sold shares≥ 75% of total such preference shares ≥ 65% of attending voted>50% of attending votesCumulative voteBoD can be sue by SGMConvene meeting hold by BOD and SGM
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