Minority rights in JSC

General Implication

Pursuant to provisions of an Uzbek Law “On Joint Stock Company and the Protection of Shareholders\' Rights” dated 26 April 1996 (the “JSC Law”), there are no strict provisions relatin/g to rights of minority shareholders with regard to voting requirements at the general meeting of shareholders, as the status of a minority shareholder is linked to the quorum requirement to attend the general meeting. In accordance with Uzbek JSC Law, the quorum for the general meeting is equal to more than 60%. In other words, if shareholders together holding more than 60% of the votes register and attend the general meeting than the general meeting (the “GMS”) is deemed to be valid.

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Minority rights in JSC

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