The VERBUND general meeting is the meeting of all shareholders. These can only exercise their rights, allotted to them by law or articles of incorporation, within the setting of the general Meeting.
The General Meeting is convened according to fixed statutory regulations and deadlines and is held according to defined rules of procedure to ensure the necessary transparency. As a rule, the General Meeting is to take place once every year.
Every shareholder is entitled to cast a vote at the Annual General Meeting, but may also be represented by a proxy, since the voting rights can be transferred, and voting by proxy is allowed. Voting procedures are based on the "one share one vote" principle. Generally, the resolutions are passed with a simple majority of the votes cast. A higher quorum is required for resolutions of particular importance such as capital increases or the dissolution of the joint stock company.
The key tasks of the Annual General Meeting include:
the appointment of the Supervisory Board, which in turn determines the Managing Board
the appropriation of the company profit, the discharge of the Supervisory Board and the Managing Board, the approval of the financial statements (if necessary).
the appointment of special auditors
the adoption of resolutions on capital measures (capital increase, capital decrease, etc.) and