The temporary COVID-19 law makes it possible to arrange the general meeting of shareholders digitally.
Statutory provisions relating to the physical meeting of shareholders may be dispensed with under the emergency act.
Extension until 1 October 2020
Initially, the emergency law would expire on 1 September 2020, but at the end of August it was decided that the law would remain in force at least until 1 October 2020. It is expected that another extension will be decided before 1 October 2020. The duration of the emergency law can be extended indefinitely, always for a maximum period of two months.
Initially, the emergency law would expire on 1 September 2020, but at the end of August it was decided that the law would remain in force at least until 1 October 2020. It is expected that another extension will be decided before 1 October 2020. The duration of the emergency law can be extended indefinitely, always for a maximum period of two months.
Period for annual accounts not extended
The period for drawing up the annual accounts of listed companies will not be extended. This means that for listed companies the period of four months remains. If, due to the corona crisis, it is not possible to put the financial reporting in order on time, there is a good chance that this will be handled leniently. For further rules and possibilities with regard to the digital shareholders’ meeting, I would like to refer to our earlier blog on this subject of 15 May 2020.