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Pursuant to a legislative amendment, a resolution on the squeeze-out of minority shareholders may be adopted provided that the majority shareholder holds shares of a total nominal value exceeding 90% of the company’s registered capital. Most importantly, a majority shareholder may now vote on the squeeze-out resolution.
A shareholder in a joint stock company whose stake reaches or exceeds a certain threshold may request the board of directors to convene a general meeting and include certain items on the agenda. The Supreme Court has ruled that this right is not extinguished if the shareholder's stake subsequently drops below the threshold, as long as the shortfall is made up before the meeting is convened.
The Trade Licence Office has clarified the issue of when certain legal entities must notify it of corporate changes. Previously, it was unclear whether the notification period commenced on the date of (i) the decision of the relevant body or (ii) registration of the relevant change in the Commercial Register.
A new amendment to the Commercial Code has entered into force. The amendment eliminates certain technical imperfections of the code and changes the rules for minority shareholder squeeze-outs, among other things.