The Law amends the applicable legislation to improve the provisions on the joint-stock companies, order the conduct of the shareholders´ meeting, formation of the supervisory board, etc.
The Law orders the shares carve-outm, excluding the pre-emptive right. It also supplements the applicable Law with a clause on the order of purchase of 95% of the company shares by the stockholder owners.
The price on stocks to be purchased can not be less than the average market price formed by stock exchange. If the company shares are unavailable at the stock exchange, the price of shares can not be less than the price established by an independent appraiser. The value of services of independent appraiser is payable by a person (persons) that own 95% of company shares.
The person (persons) that owns 95% of company shares shall purchase ordinary shares from all the shareholders of the company.
The draft is registered under Reg. No.6216.