General Meeting of Shareholders

The supreme management body of the Bank is the General Meeting of Shareholders which is made up of all the Bank shareholders or their proxies. The General Meeting may be attended by the holders of ordinary shares or their authorized nominees, members of the Board of Directors, Chairman of the Management Board-General Director (Chief Executive Officer), members of the Management Board (executive body), Head of the Internal Audit function, external auditor and the representatives of the Central Bank of Armenia. The scope of authorities of the General Meeting of Shareholders is defined in the Bank’s Charter (for further details, please see the Bank charter in Armenian). Resolutions of the General Meeting are passed by a ¾ vote of the voting shareholders and have legal effect if all the requirements of Armenian legislation, the Charter, internal regulations of the Bank and the Shareholders Agreement have been met.