Deadline for holding annual meetings and shareholders’ assemblies is April 30

The legal deadline for annual meetings of simple and limited liability companies and for ordinary shareholders meetings of joint-stock companies approaches.

We remind you that these meetings must occur annually, during the first 4 months after the end of the companies' fiscal year. Considering that the fiscal year of the majority of Brazilian companies ends on December 31^st of each year, the legal deadline to hold the meeting is until April 30^th. The annual meeting/ordinary shareholders meeting must have as its purpose:

1. analyze the management’s accounts
2. ecide on the destination of the company's income
3. if necessary, the appointment of managers

For the correct holding of annual meetings of simple and limited liability companies and of ordinary shareholders meetings of joint-stock companies the necessary procedures must be verified, such as:

1. prior availability of the necessary documents
2. giving notices in accordance with the form and early term required by law
3. formalization in minutes of the resolution taken at the quotaholders/ shareholders' meeting
4. filing of such minutes with the competent Board of Trade and, for joint-stock companies, updating its corporate book
5. publication of the minutes in the form required by law, for joint-stock companies

The approval of accounts and financial statements is important to exempt administrators from liability.

The corporate and M&A team at FAS Advogados is available to assist with all questions and necessary procedures regarding the holding of these meetings.