Hanoi, Vietnam: Ad hoc General Meeting of Shareholders of a Private Secondary College According to the Board of Directors' Decision

Ad hoc General Meeting of Shareholders of a Private Secondary College According to the Board of Directors' Decision (Illustrative Image)

To be specific:, Article 8 of the Regulation issued with Circular 39/2012/TT-BGDDT stipulates that the general meeting of shareholders of a private specialized secondary college is convened in the following cases:

- According to the decision of the Board of Directors;- At the request of shareholders who hold more than 30% of the shares continuously for 6 months or more.- In case the Board of Directors seriously violates the regulations on organization and operation of the school, the Supervisory Board is entitled to notify the Board of Directors and convene an Ad hoc General Meeting of Shareholders.

Note: The invitation to the general meeting of shareholders must be in written form; the meeting agenda and discussion documents must be sent to all shareholders no later than 7 days before the meeting date.

The general meeting of shareholders is considered valid when shareholders representing at least 51% of the total shares or more are present. The specific ratio is determined by the school’s regulations on organization and operation but must not be lower than this ratio.

The content and progress of the general meeting of shareholders are recorded in the school's minutes book and approved right before adjournment; decisions of the general meeting of shareholders are approved by voting during the meeting and only valid when more than half of the capital-owning shareholders agree; the minutes of the general meeting must bear the signatures of the chairperson and the meeting secretary. The cost of convening and holding the general meeting of shareholders is charged to the school's operating funds.

For details, see Circular 39/2012/TT-BGDDT, effective from December 20, 2012.

Le Vy

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE