It’s Time to Hold Annual General Meetings—It May Be Done In Absentia in 2024
This time of the year has come again when companies need to approve their financial results for the previous year.
Limited liability companies will have to approve their financial results for 2023 not later than April 30, 2024, and joint-stock companies not later than June 30, 2024 (unless otherwise provided by the company’s charter).
Regular general meetings of shareholders convened for companies to approve their annual results cannot generally be held in absentia, i.e. they must be held only in person.
The exceptions that were in effect in the previous two years have been extended to 2024—regular general meetings of shareholders are allowed to be held in absentia[1].
When a meeting is held in absentia, no physical meeting is required, and it is enough for the parties to exchange documents confirming the results of their voting on the issues raised for the meeting to be deemed held.
If you would like to discuss this matter further or have any questions, please write to Julia Talagaeva or Alexandra Yudina.
Truly yours,
[1] Articles 2 and 3 of Federal Law No. 25-FZ dated February 25, 2022 On the Introduction of Amendments to the Federal Law On Joint-Stock Companies and the Suspension of Certain Provisions of Legislative Acts of the Russian Federation.