Public Companies Must Reveal Shareholders Who Submit Meeting Proposals

04.21.2011 By Bostan Radu

Companies listed on a regulated market must make public the identity and participation of any shareholder who requested the introduction of new items on the general meeting's agenda, according to a Wednesday decision of the Romanian National Securities Commission.

Companies listed on a regulated market must make public the identity and participation of any shareholder who requested the introduction of new items on the general meeting's agenda, according to a Wednesday decision of the Romanian National Securities Commission.

According to law, any shareholder or investor group owning at least 5% of a public company's shares has the right to propose new items for the agenda of a general meeting.

Each proposal must include justification or a draft decision to be adopted in the meeting.

The shareholders' proposals must be sent to the company no later than 15 days after the meeting announcement is published.

The Commission's decision entered force Wednesday.