The general meeting of shareholders of NHC Uzbekneftegaz is the supreme body of management.
The general shareholder meeting is conducted by the chairman of the Board of governors of NHC Uzbekneftegaz, and in case of his absence for valid reasons one of the members of the Board of governors replaces him.
NHC Uzbekneftegaz holds the annual reporting general shareholder meeting not later than in six months after the termination of financial year.
Issues of election of the Board of governors and the audit commission of NHC Uzbekneftegaz, possibility of term extension, renewal or cancellation of the contract with the Chairman of the board of NHC Uzbekneftegaz, as well as the annual report of NHC Uzbekneftegaz and other documents are considered and resolved at the annual general shareholder meeting according to the legislation and the charter of NHC Uzbekneftegaz.
The general meetings that are held besides the annual are extraordinary.
To the competence of the general shareholder meeting relate:
- alterations and additions in the charter of NHC Uzbekneftegaz or adoption of the charter of NHC Uzbekneftegaz in the new edition except for introduction of amendments and additions to the charter of NHC Uzbekneftegaz connected with the increase in authorized capital in NHC Uzbekneftegaz by increase of par value of shares;
- reorganization of NHC Uzbekneftegaz;
- liquidation of NHC Uzbekneftegaz, appointment of the liquidator (liquidation commission) and approval of intermediate and final liquidation balance sheets;
- definition of quantitative structure of the Board of governors of NHC Uzbekneftegaz, election of their members and early termination of their powers;
- determination of the extreme size of the announced stocks;
- authorized capital reduction of NHC Uzbekneftegaz;
- acquisition of own stocks;
- approval of an organizational structure of NHC Uzbekneftegaz, election (appointment) of the Chairman of the board and early termination of his powers. At the same time, the Board of governors of NHC Uzbekneftegaz has the right of early termination (cancellation) of the contract with the Chairman of the Board of NHC Uzbekneftegaz when making of gross violations of the charter of NHC Uzbekneftegaz or inflicting losses by his actions (failure to act);
- election of audit committee members of NHC Uzbekneftegaz and early termination of their powers as well as approval of regulation on audit committee;
- approval of the annual report;
- allocation of profits and losses of NHC Uzbekneftegaz;
- hearing of reports of the Board of governors and the conclusions of audit committee of NHC Uzbekneftegaz on the questions entering their competence including regulatory compliance on management of NHC Uzbekneftegaz established by the legislation;
- decision-making about non-use of preferential rights, stipulated by the Article 35 of the Law of the Republic of Uzbekistan "About joint-stock companies and protection of shareholder rights";
- approval of regulation of general shareholder meeting;
- crushing and consolidation of stocks;
- establishment of size limits of remunerations and (or) compensations paid to the Board members of NHC Uzbekneftegaz;
- decision-making about transactions of NHC Uzbekneftegaz in cases provided by chapters 8 and 9 of the Law of the Republic of Uzbekistan "About joint-stock companies and protection of shareholders' rights";
- solution to other questions according to the legislation and the charter of NHC Uzbekneftegaz.
Last change: 10.05.2017