Issues of Shares
- The rules on publishing of resolutions regarding issues of shares, options and convertibles have been deleted.
- Earlier the amount to be paid for a new share must not be lower than the par value of the share. As shares will no longer have a par value, the subscription amount will be compared with the part of the company which the share will represent.
- New rules in respect of options and convertibles will give more flexible possibilities for increases of capital.
Restricted and Non-Restricted Shareholder’s Equity
- Amounts allocated to the share premium reserve from January 1, 2006 will be considered as non-restricted shareholder’s equity.
- The rules on mandatory allocation of funds to the statutory reserves have been removed.
- Amounts in the share premium reserve as of January 1, 2006 shall be transferred to
To be continued