CORPORATE RELATIONS
Our company did not hold the annual general meeting of shareholders in JSC / regular general meeting of participants in LLC due to coronavirus, what should we do?
In accordance with corporate compliance measures taken to facilitate business activities during the coronavirus period, the dates for holding annual and regular general meetings have been extended until September 30. If the meeting is held no later than September 30, a fine of up to 700 thousand rubles for violation of the terms of convening the meeting is not imposed.
Our shareholders / participants are in different states and cannot come to Russia to attend the annual / regular general meeting of shareholders / participants. Can we take decisions by virtue of absentee voting (without the joint presence of shareholders / participants)?
The annual general meeting of shareholders in 2020 can be held in the form of absentee voting, the regular general meeting of participants cannot be held in the form of absentee voting (the regular meeting in the LLC can be held in the form of joint attendance only).

If the participants in the LLC cannot come to Russia, we can recommend that they issue powers of attorney for their representatives to participate and vote in the general meeting. It is also necessary to keep in mind that the decisions made at the meeting, as well as the list of participants who took part in the meeting are to be certified by a notary unless the company's charter contains provisions regarding different way of confirming decisions and the list of the participants or if the company has previously adopted a decision certified by a notary regarding different way of confirmation.
Do we need to reduce the charter capital or liquidate the company if the value of net assets is less than the amount of the charter capital?
If the value of net assets is less than the amount of the charter capital in accordance with the results of 2020 year, there is no need to reduce the charter capital or liquidate the company.
if you have any questions regarding corporate relations, please contact us.

Contacts:
Ekaterina Rudova, Partner
8 495 660 50 70, Ekaterina.Rudova@integrites.com
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