Ultimate decision-making power in HKScan Corporation is vested in shareholders in General Meetings of Shareholders, which are convened at least once annually. The Annual General Meeting of Shareholders (AGM) is held by the end of June each year. The Board of Directors sends a notice to shareholders and draws up the agenda.
A shareholder is entitled to have a matter which, according
to the Companies Act falls within the competence of the General
Meeting, considered by the meeting if he or she requests the
Board of Directors in writing by March 1st for the
matter to be included in the notice of meeting.
Notice of general meetings of shareholders shall be given by
announcement published on the Company’s website and, if so decided
by the Board of Directors, in one or more national newspapers as
determined by the Board of Directors no earlier than three months
and no later than three weeks prior to the meeting. The notice is
also given in the form of a stock exchange release.
The following matters, among others, are considered by the
Annual General Meeting:
- the financial statements and report of the Board of
Directors
- auditors’ report
- adoption of the financial statements
- the distribution of profit
- the granting of discharge from liability
- the remuneration of members of the Board of Directors and
the auditors
- the number of members of the Board of Directors
- election of the members to the Board of Directors and the
auditors
- the granting of possible authorizations to the Board of
Directors
Likewise, changes in the share capital and Articles of Association are also items of business to be considered by the Annual General Meeting or, if necessary, by an Extraordinary General Meeting. An Extraordinary General Meeting shall be convened when the Board deems it to be warranted or when required under law.