Information Disclosure
Information Disclosure – provision of free access for anybody to the information related to the company’s activity and corporate events.
For example, publication of information on the company's web site, publication in a newspaper indicated in the company's Charter, or other newspaper available to most shareholders, hire of a company providing information disclosure services (www.skrin.ru)
The list of information subject to mandatory public disclosure by a joint stock company, as well as subject to disclosure upon shareholders' request, is set forth in the Federal Law # 39-FZ "On the Securities Market" of 22.04.96, as well as in the Federal Law #208-FZ "On Joint Stock Companies" of 26.12.95.
(1) The Federal Joint Stock Company Law sets forth the list of documents the company has to present to shareholders upon their request, namely:
- Charter of the company, duly registered changes and amendments to the Charter, Decision of Incorporation, Certificate of State registration of the company;
- documents confirming the rights of the company for the property on its balance sheet;
- the company's bylaws, approved by the General meeting of shareholders (“GM”) and other management bodies (such as The Procedure of organization of a general shareholders meeting);
- the company branches and Representative offices’ Regulations;
- annual reports;
- prospectus of the share issuance;
- financial statements presented to respected regulatory authorities;
- minutes of GMs;
- minutes of meetings of the Board of Directors (Supervisory Board) of the company;
- minutes and reports of the Auditing Commission;
- list of affiliated persons with indication of number and category (type) of shares owned;
- auditor’s opinions;
- other documents provided by the Russian legislation (quarterly statements, material fact reports).
(2) The Securities Market Law defines that an issuer of publicly placed securities has to disclose information about these securities and its financial and economic activity in two forms:
- through a quarterly statement;
- through material fact reports.
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