General Meeting

It corresponds to the meeting with the company's shareholders that have to approve the annual and consolidated accounts of the past fiscal year and other draft resolutions according laws and regulations in force (Changes of the by-laws, Renewal or nomination of members of the Supervisory Board or Statutory auditors, ...). There are various types of meetings according to the type of decisions to be taken: Annual General Meetings, Ordinary General Meetings other than annual and Extraordinary General Meetings. The Ordinary General Meeting (OGM) approves the annual and consolidated accounts and renews the mandates of the members of the Supervisory Board. Resolutions are adopted by a majority of votes from the shareholders. Although at an Extraordinary General Meeting (EGM), where decisions that entail a change in the by-laws are taken, resolutions are only adopted by a majority of two thirds of the votes of the shareholders present or represented. Combined Meetings are those that make both ordinary and extraordinary decisions.