Shareholders’ right to request the convening of a general meeting
14 January 2021
Client Alert | UE | M&A / Corporate
In France, the board of directors or the directorate of a French société anonyme (public limited company) is in principle the competent body to convene a shareholders’ meeting. Failing this, the shareholders may request in court the appointment of an ad hoc representative for the purpose of convening a shareholders' meeting provided that a certain number of conditions are met and in particular that this measure must meet the corporate interest of the company and not the sole interest of the applicants. This solution has been recalled very recently by a decision of the Paris court of appeal in the context of the battle over the control of the French listed multimedia conglomerate Lagardère.
This Client Alert offers you an overview of shareholders' rights in France and in the main European jurisdictions.
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