General meeting of the shareholders

The General Meeting of Shareholders (GMS) is one of the management bodies of IHB. The others are the Supervisory Board and the Management Board.

The GMS includes all shareholders holding voting shares.

Competence: GMS has the following competencies:

  • It approves, amends and supplements IHB Articles of Association.
  • It increases and decreases the capital of IHB.
  • It transforms and terminates IHB.
  • It elects and dismisses the members of the Supervisory Board and determines their remuneration.
  • It appoints and dismisses the registered auditor or the specialised audit firm.
  • It approves the annual financial statements after their certification by the appointed registered auditor or the specialised audit firm.
  • It distributes IHB profit.
  • It decides on and determines the procedure for issuing bonds, as well as the terms for their subscription in compliance with the requirements of the current Bulgarian legislation.
  • It decides on and determines the procedure for issuing warrants and rights, as well as the terms for their subscription in compliance with the requirements of the current Bulgarian legislation.
  • It appoints liquidators upon termination of IHB, except in the case of insolvency.
  • It releases the Supervisory and Management Boards' members from liability.
  • It decides on the redemption of IHB shares.
  • It decides on other issues within its competence, according to the law or the Articles of Association.

Time and frequency: GMS is held at least once a year. This is the regular annual GMS, at which the results for the past reporting year are reported and approved.

Place: The General IHB Meeting is held at its seat - Sofia. The regular General Meeting is held before the end of the first half of the year following the reporting year. The IHB GMS is usually held in June.

Convention: GMS is convened by invitation, announced in the Commercial Register at least 30 days before the date of the meeting.

General meetings held

IGM 2020

Regular Annual Meeting of Shareholders 27 August 2020 / 10 September 2020