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[ESTABLISHING A BUSINESS ENTITY IN SPAIN]
SA
SL
BRANCH
- Their assets do not amount over €2,850,000. - Their net yearly turnover is not in excess of €5,700,000. - Their average number of employees during the year is not over 50.
- Their assets do not amount over €2,850,000. - Their net yearly turnover is not in excess of €5,700,000. - Their average number of employees during the year is not over 50.
ANNEX 2: MINORITY SHAREHOLDERS’ RIGHTS
RIGHT
SA
SL
Right to attend meetings
The by-laws may subject eligibility to attend the general meeting to ownership of a minimum number of shares (never greater than 1/1000 of the share capital).
All members are entitled to attend the general meeting. The by-laws may not make attendance at general meetings contingent upon ownership of a minimum number of stakes.
Right to request to convene a meeting
Shareholders holding at least 5% of the share capital.
Members holding at least 5% of the capital.
Information Right
Shareholders may request, from directors, any information or clarification they deem necessary regarding the items on the agenda of the meeting.
Members may request, from directors, any information or clarification they deem necessary regarding the items on the agenda of the meeting.
Directors shall be obliged to provide the requested information, unless said information be deemed unnecessary for the recognition of the shareholders’ rights or there be objective reasons to consider that it may be used for reasons
Directors shall be bound to provide such reports or clarification except where, in the governing body’s opinion, disclosing such information may be detrimental to the
ILN Corporate Group – Establishing a Business Entity Series
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