Prethodno priopćenje
https://doi.org/10.22598/iele.2023.10.2.2
COMPLETE REMOVAL OF SHARES FROM TRADING ON THE REGULATED MARKET AT THE ISSUER’S REQUEST UNDER CROATIAN LAW (DELISTING)
Hrvoje Markovinović
orcid.org/0000-0002-5376-3461
; University of Zagreb, Faculty of Law, Zagreb, Croatia
Tomislav Jakšić
orcid.org/0000-0002-8798-2208
; University of Zagreb, Faculty of Law, Zagreb, Croatia
Sažetak
The Capital Market Act establishes a general regulatory framework for trading on the Croatian capital market. The delisting of shares from the regulated market is regulated by Article 341 Capital Market Act which sets out measures for the protection of the issuer’s shareholders and the delisting procedure. Such delisting generally requires a qualified majority decision of the issuer’s general meeting, obligatory repurchase of shares held by some of the issuer’s shareholders, and determination of the moment when the delisting decision takes effect at the regulated market. However, as the paper will demonstrate, such rules produce serious doubts as to their consistency, effectiveness, and sufficiency to conform to the needs of legal certainty, protection of the shareholders, and the rule of law.
Ključne riječi
delisting; delisting decision; regulated market; repurchase obligation; investor protection
Hrčak ID:
313113
URI
Datum izdavanja:
29.12.2023.
Posjeta: 191 *