AMENDING THE REGULATIONS ON PRIVATE OFFERING OF SHARES AND BONDS
As prescribed in the 2014 Law on Enterprises, a shareholder or a group of shareholders must own 10% or more of total common ordinary shares for at least 6 consecutive months, or own a smaller percentage thereof as stipulated in the company’s charter to hold the rights prescribed in Clause 2 of Article 114 in this Law.
However, as prescribed in the 2020 Law on Enterprises, a shareholder or a group of shareholders must own 5% or more of total common ordinary shares for at least 6 consecutive months, or own a lesser percentage thereof as stipulated in the company’s charter to hold the rights granted to common shareholders prescribed in Clause 2 of Article 115 in this Law.
In addition to inheriting the provisions on obligations of common shareholders laid down in Article 115 of the 2014 Law on Enterprises, the 2020 Law on Enterprises sets out the following additional regulation:
“Secure information provided by the company in accordance with the company’s charter and law; only use the information provided to exercise and protect its legitimate rights and interests; strictly prohibit distributing, duplicating or sending information provided by the company to the other organization or individual.”
- Article 115 of Law on Enterprise 2020