Unit 5 Corporate Structure: Shareholders meeting
1. Shareholders One that owns or holds a share or shares of stock .
2. The rights of shareபைடு நூலகம்older
2.1 voting right The right to reject or approve some important corporate matters, such as mergers, sales of assets and amendments of articles Although today most jurisdictions permit issuance of nonvoting stock, most common shareholders have the right to vote their shares. They may vote to elect directors and to remove directors, even without cause. They may vote to approve or disapprove changes in the basic corporate structure, such as mergers, consolidations, and liquidations.
Case Tatko owns about 2% of the shares of Tatko Brothers Slate co. Pursuant to the shareholders’ agreement, if Tatko wishes to sell his shares he is obligated to offer them first to Tatko Brothers co. at “book value”(账面值). The book value is to be determined by resort to the annual balance sheet prepared by the corporation. When Tatko informed the corporation of his interest in selling his shares, he was furnished with the corporation’s latest financial report, which contained a balance sheet listing assets, liabilities and portions of the minutes from a 1973 shareholders’ meeting. The accountants warned that they had neither audited nor reviewed the financial statements and expressed no opinion on them. The corporation indicated to buy the shares for $ 35,789 and to provide additional records to petitioner, but