Page 291 - Albanian law on entrepreuners and companies - text with with commentary

(5) If the payment is not carried out within the deadline required by Article 124 (3), the
share in respect of which the notice was given may be withdrawn by a decision of the
Managing Directors and the withdrawal shall include all dividends or other moneys payable
in respect of the withdrawn shares and not paid before the withdrawal.
(6) The withdrawal of the share will lead to a capital reduction in accordance with Article
186 of the Law.
(7) A person any of whose shares have been withdrawn shall cease to be a shareholder in
respect of them but will remain liable to the company for all contributions which at the date
of withdrawal were presently payable by him/her to the company in respect of those shares
with interest at the rate at which interest was payable on those contributions before the
withdrawal.

Article 7: Types of Shares, Bonds, Rights and Restrictions
(1) Subject to the provisions of the Law and without prejudice to any rights attached to any
existing shares, any share may be issued with such rights or restrictions as the General
Meeting by qualified resolution (three-quarter majority) determines.
(2) The General Meeting may determine by the same qualified resolution to issue bonds the
holders of which are guaranteed the right to conversion into shares or the pre-emption right
in relation to shares (convertible bonds) and bonds connecting the rights of their holders to a
shareholders' profit share (profit sharing bonds).

Article 8: Share Certificates
Every shareholder shall be entitled, on payment of a sum to be determined by the General
Meeting but not above ……………. (insert reasonable sum), to one certificate for all the
shares of each class held by him/her. The company shall not be bound to issue more than
one certificate for shares held jointly by several persons and delivery of a certificate to the
representative of the joint holders as of Article 121 (1) of the Law shall be a sufficient
delivery to all of them. The joint owners shall be listed on the share certificate. Article 117
(2) applies.

Article 9: Share Registry
The following Managing Director nominated by Article 18 (3) of this Statute is responsible
for setting up the share registry and ensuring that it functions in accordance with Article 119
of the Law until the Supervisory Board elected by the first ordinary General Meeting will
nominate the Managing Director in charge of keeping the share registry:
….. (name)

Article 10: Contractual Transfer of Shares
The contract of transfer of a share shall be in writing and with such formalities as the
Managing Director in charge of the company’s share registry may determine and shall be

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