6.1 Voting right limitation and representation
The Liechtensteinische Landesbank has issued bearer shares. At the Liechtensteinische Landesbank’s General Meeting of Shareholders, each share carries one vote. In accordance with Art. 306a ff. of person and company law, the LLB shares held by the Liechtensteinische Landesbank itself and its subsidiaries (1’978’202 shares as at 31 December 2015) are not eligible to vote.
Each shareholder has various possibilities of participating in the General Meeting of Shareholders. At the General Meeting of Shareholders he can vote his own shares or authorise a third party in writing to vote them, or have them voted by the Liechtensteinische Landesbank or his custodian bank. A person acting as a representative may act on behalf of more than one shareholder and vote differently for the various shares he represents. In applying the new Statute provisions, the Board of Directors has stipulated for the General Meeting of Shareholders on 4 May 2016 that shareholders may participate in the General Meeting without actually being present at the Meeting and without having to stipulate a representative. They may vote their shares in writing by post or by means of electronic communication prior to the General Meeting. On account of the many different voting possibilities, the Liechtensteinische Landesbank has decided not to designate an independent proxy. The LLB is not subject to the pertaining provision of the ordinance against excessive compensation by listed companies.
6.2 Statutory quorum
At the General Meeting of Shareholders, a quorum is present if half of the share capital is represented. The Board of Directors can decide to permit shareholders to vote their shares by post or by means of electronic communication prior to the General Meeting. If a shareholder votes his shares in this manner prior to the General Meeting, his share capital is regarded as being represented for the purpose of constituting a quorum. If a quorum is not constituted, a further General Meeting of Shareholders has to be convened within two weeks that makes decisions irrespective of the represented shares, unless otherwise prescribed by mandatory laws and statutes.
Provided that legal provisions do not stipulate to the contrary, the General Meeting passes its resolutions and decides its elections by an absolute majority of the votes cast.
6.3 Convening of the General Meeting of Shareholders
The Board of Directors convenes an ordinary General Meeting of Shareholders with a period of notice of 30 days. The meeting must be held within six months following the end of a business year. The invitation to the General Meeting is to be publicised on the company’s website as well as, if necessary, in other media to be designated by the Board of Directors. The invitation must contain the information required by law, especially the agenda to be dealt with at the meeting, the proposals of the Board of Directors and, in the event of elections, the names of the proposed candidates.
An extraordinary General Meeting may be convened by the Board of Directors if this is in the urgent interest of the Liechtensteinische Landesbank or at the written request – stating the reason for convening the extraordinary General Meeting – of shareholders representing ten percent of the share capital.
The Board of Directors specifies the agenda for the General Meeting of Shareholders in accordance with the Liechtensteinische Landesbank’s statutes. The statutes may be viewed at www.llb.li/statutes. The General Meeting can only deal with items which are listed in the agenda, with the exception of a proposal for the convening of an extraordinary General Meeting.
Shareholders, who together hold at least 5 percent of the share capital represented, can request that an item be placed on the agenda to be dealt with by the General Meeting. Requests for items to be placed on the agenda must be received, at the latest, 21 days prior to the date of the General Meeting. The Board of Directors shall publicise the amended agenda at least 13 days prior to the date of the General Meeting.
6.5 Registration in the company’s share register
The Liechtensteinische Landesbank has exclusively issued bearer shares.