Amendments to the Company Laws have come into force which seek to ensure equal possibilities to the shareholders of companies listed in the Republic of Lithuania, in other EU Member States and in other states of the European Economic Area, in exercising the rights established by legal acts (i.e. the right to receive information related to general shareholders’ meeting or the right to participate and vote in a general shareholders’ meeting.)
The Company Law was supplemented with the provisions relating to the shareholder’s right to ask questions related to items on the agenda of the general shareholders’ meeting. However, the right to ask questions is not unconditional and a company is not obliged to answer questions raised by the shareholders in case these questions relate to confidential information, commercial (production) secrets, or if the identity of a shareholder providing questions is not established.
The Law established a right of shareholders, who hold 1/20 of the shares with voting power (previously 1/10), to put items on the agenda of the general shareholders’ meeting. Furthermore the amendments to the Law introduce the right of direct participation and voting in a general shareholders’ meeting by electronic means in case the security of electronic communications and the verification of the shareholder’s identity is granted.     
The Law amended the content of the convocation of a general shareholder’s meeting by adding to it the procedures for participating in a meeting and voting by electronic communications, and indicating the procedures of receiving of decision drafts on each agenda point of the general meeting, and other documents, which must be submitted to the general shareholders’ meeting as well as information related to the implementation of rights of a shareholder. The term for the company to issue the convocation of the general meeting is reduced to 21 days before the day of the meeting (previously 30 days).     
The Law also established that each shareholder has a right to authorize any legal or natural person to act as his representative in his relationship with the company or other persons. This right may also be exercised by electronic communications (such power of attorney is not subject to notary confirmation).