To attend a GM, you must:
- Hold shares at least 3 business days before the GM
- Bearer shares: present an admission card or participation certificate
- Registered shares: direct access, but recommended to return the admission card request
- Online participation offered by the company
- OGM (Ordinary): approves accounts, sets dividends, appoints/removes directors
- EGM (Extraordinary): modifies bylaws, decides on capital increases or reductions, mergers
- CGM (Combined): combines OGM and EGM
Three options are available:
- Proxy voting: delegate your vote to another shareholder or the chairman
- Online voting: via secure platform
- Mail-in voting: form sent before the GM
- Written questions: sent to headquarters or by email (address indicated in the notice), accompanied by an account registration certificate
- During the GM: possibility to speak orally or via chat if digital GM
- Access to corporate documents: balance sheets, accounts, annual reports, GM minutes
- Consultation possible at headquarters or online
- Right to submit written questions before the GM
- For minority shareholders: possibility to request a management audit through the court
- Yes, if you hold a minimum number of shares (or by grouping with other shareholders).
- The request must be sent before the deadline indicated in the notice.
- Legal action (derivative action) against the company or its executives
- Possibility to request a management audit
- Enhanced protection for minority shareholders (Commercial Code)
Transfer for consideration (sale):
- Registration fees: 0.1% of the sale price (minimum €25).
- Capital gains taxed at the flat rate (30%) or progressive scale.
Transfer by gift or inheritance:
- The shares are included in the estate.
- Inheritance tax calculated according to the family relationship and the scale (5% to 45% in direct line after a €100,000 allowance per child)
- The unrealized capital gain is “cleared” upon death (new tax value = value on the date of death).
For more information:
BOFiP – Tax regime for transfers of corporate rights
- Transfer: deed of transfer (if applicable), update of the securities register, registration with the tax authorities
- Transmission: declaration of succession via a notary, valuation of securities on the date of death