Decision of a general meeting of a joint-stock company on delisting of participating securities from trading on the European regulated market
Abstract
The fact that participating securities issued by a joint-stock company are subject to the admission to trading on the European regulated market is in many aspects very important attribute of those securities for the both their owners as well as the issuing joint-stock company. For this reason, the relevant law, specifically the Act No. 90/2012 Coll., on Business Corporations, set quite specific regime for a decision on delisting from the European regulated market taken by a general meeting of a joint-stock company, it means for a decision on a termination of their public tradability.
This contribution shall analyze the main aspects related to the decision-making process on the delisting of participating securities in detail, the author pays the special attention to the specifics of this decision when compared to other decisions taken by a general meeting that are more often in the legal practice. The attention shall be also paid to the aspects of writing down and recording of respective general meeting as well as to the communication of its results.
Similar applicable rules from foreign laws shall be also introduced.