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Glossary

Annual General Meeting

At least once a year the shareholders of a joint stock company convene for the annual general meeting. This meeting elects the Supervisory Board and the balance sheet auditor. It passes resolutions on the appropriation of the annual profit shown, on measures for raising capital, on changes to the Articles of Association and other fundamental issues; it is the only body which can approve the decisions made by the Supervisory Board and the Board of Directors.