General Meeting of Shareholders
The General Meeting of Shareholders is the supreme governing body of the LLB
The Annual General Meeting of Shareholders is held within six months of the close of the financial year. Extraordinary General Meetings of Shareholders are convened if they are in the urgent interest of the Liechtensteinische Landesbank or upon the written request of shareholders representing not less than ten per cent of the share capital. The written request must refer to the purpose for which the meeting should be convened.
Powers of the General Meeting of Shareholders
The General Meeting has the following powers:
- It enacts the Statutes and adopts resolutions with regard to their amendment.
- It appoints the Members and the Chairman of the Board of Directors as well as the auditors.
- It approves the annual report of the LLB AG (annual financial statements and management report) and the consolidated annual report of the LLB Group (consolidated financial statements and consolidated management report).
- It decides on the declaration of the dividend, increasing and decreasing the share capital, converting bearer shares into registered shares and registered shares into bearer shares, as well as dissolution and liquidation of the company.
- The General Meeting of Shareholders formally approves the actions of the Board of Directors, the Board of Management, and the auditors.
- In addition to the aforementioned business that expressly falls within the powers of the General Meeting, the General Meeting also decides on all matters of the company that are presented to it by the Board of Directors or upon which it must decide by law.
Next General Meeting
The next General Meeting of Shareholders takes place on Wednesday, 9 May, 2018, at the Tennishalle in Schaan, Liechtenstein.
The Statutes represent the basic legal document governing our company.
They are approved by the General Meeting and regulate, above all, the following subjects:
- Company, domicile, object and scope of operations
- Share capital, shares, borrowing of capital
- Governing bodies and their responsibilities (The General Meeting of Shareholders, The Board of Directors, The Board of Management, The auditors)
- Other provisions
Strengthening of rights of shareholders
The General Meeting of Shareholders on 8 May 2015 approved general amendments to the Statutes that contribute to a substantial strengthening of the rights of shareholders. In particular, the amendments expand the rights of shareholders to include items on the agenda and to make proposals. They also introduce the option of postal voting and electronic voting as well as electronic delegation of proxies. Shareholders may cast their votes in writing or electronically prior to the General Meeting.The rights of shareholders concerning the agenda and proposals are set out in Articles 14 and 15 of the Statutes.
Right to add items to the agenda
Shareholders who jointly represent not less than five per cent of the share capital may call for an item of business to be added to the agenda of the General Meeting by tabling a resolution. The items of business to be added to the agenda must be received at the latest 21 days before the day of the General Meeting. The Board of Directors announces the entire amended agenda at the latest on the 13th day before the General Meeting.
Right to make proposals
Shareholders who jointly represent not less than five per cent of the share capital have the right, prior to the General Meeting, to submit proposals regarding items on the agenda or items that have been added to the agenda.