All Russian limited liability companies (‘LLC’- in Russian ‘OOO’) should hold Annual General Meetings before April 30, 2020.
A kind reminder to prepare for the meeting in accordance with the Articles of Association. In the light of on-going compliance checks, companies should be extra alert on the timely fulfillment of the AGM requirement.
The annual general meeting of shareholders must approve the annual results of the LLC’s activities, in particular the annual financial statements and the annual report of the LLC on the results of the previous year. The AGM can also decide on issues such as profit distribution, appointment of the external auditor and approval of transactions (major transactions, matters reserved for it according to the LLC’s charter etc.).
Violation of the above-mentioned deadline or requirements may lead to the imposition of administrative fines in the amount of:
RUB 20,000 – 30,000 for the General Director personally (appr. EUR 270 – 400 euro), and RUB 500,000 – 700,000 for the LLC (appr. EUR 6,800 – 9,500).
If you have any questions or need additional information, please do not hesitate to contact us, we will be glad to assist you with the preparation and execution of AGM documentation.