[ESTABLISHING A BUSINESS ENTITY IN GREECE] 222
- The shareholder(s) with shares representing the 1/3 has the right to apply to the Court for the termination of the company, if there is any serious reason that dictates the termination of the company. - The shareholder(s) with shares representing the 1/20 or 1/5 (under specific conditions) of the share capital may apply to a Court to order audit of the company. - Each shareholder may demand from the Board of Directors to provide to the General Assembly information which is material to the agenda. - The shareholder(s) with shares representing the 1/10 of the share capital may demand from the Board of Directors to provide the General Assembly information about the company’s affairs and its financial situation. - The permission for transactions with related parties is granted by the BoD, however shareholders with shares representing the 1/20 may demand the convocation of the General Assembly to decide on the subject. Until the convocation of the General Assembly, if such a permission was granted, it is revoked, if there is an opposition of the shareholder(s) with shares representing the 1/20 of the share capital. - The shareholder(s) with shares representing the 2% of the share capital may apply before a Court for the annulment of a decision of the General Assembly.
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“Sell minority shareholders may, under specific circumstances that make their remaining in the company Out”: The
unbearable, apply before a Court to order the purchase of their shares by the S.A. Furthermore, if a shareholder whose shares represent at least the 95% of the share capital, the minority shareholders may apply before a Court to order the purchase of their shares by the former (conversely, the shareholder of at least 95% has the right to apply before a Court to oblige the minority shareholders to sell him their shares- “squeeze - out”). - Each shareholder of an unlisted company may demand information about the amount of the capital, the categories of the issued shares and their number, the rights that each category attributes, if there are any restricted, their numbers and the restrictions. Furthermore, each shareholder has the right to demand information about his/her shares. - Each shareholder of an unlisted company may demand information about the future General Assemblies to be sent to him by e-mail 10 days before the General Assembly. - Each shareholder may demand a table of the shareholders (including their names, address and number of shares), if such a right is attributed by the articles of association. - The law 4548/2018 includes also provisions about “Unions of Shareholders” that may enforce the
ILN Corporate Group – Establishing a Business Entity Series
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