Protection of Minority Shareholders

The provisions on minority protection mainly aim at preventing the misuse of majority power and at protecting the position of the minority shareholders in a limited liability company.One tenth (1/10) of all the shares of the company is usually sufficient for a minority decision.

Minority decisions are, among other things, the following:

• postponement of the consideration of a matter regarding adoption of the annual accounts and use of profits to a continuation meeting: 1/10 of all shares;

• appointment of an auditor even if the law or the articles of association does not require that: 1/10 of all shares or 1/3 of all shares represented in the meeting;

• minority dividend [1.8.12.4 Minority Dividend]: 1/10 of all shares.