On 14th July 2023, the Virtual Shareholders' Meetings Act came into force in Austria, thus creating a legal basis for virtual shareholders' meetings.
Due to the COVID-19 pandemic, a solution was already being sought to be able to hold shareholders' meetings and meetings of board members online - without the personal presence of the members - in order to pass resolutions by video conference even in times of crisis and to keep the company up to date.
In order to be able to continue to use this proven option, a permanent legal basis has now been created for virtual (simple virtual or moderated virtual meetings) and hybrid meetings.
However, this type of shareholders' meeting is only permitted if this is already provided for in the articles of association.

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