Joint Stock Company Basics

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By RealisticElbaite

Quiz

Flashcards

90 Questions

Match the following corporate governance terms with their descriptions:

Match the following shareholder meeting terms with their descriptions:

Match the following meeting minutes terms with their descriptions:

Match the following corporate governance terms with their descriptions:

Match the following corporate governance terms with their descriptions:

Match the following shareholder meeting terms with their descriptions:

Match the following corporate governance terms with their descriptions:

Match the following shareholder meeting terms with their descriptions:

Match the following corporate governance terms with their descriptions:

Match the following shareholder meeting terms with their descriptions:

Match the following terms with their descriptions in relation to a joint stock company:

Match the following statements with their accuracy in relation to a joint stock company:

Match the following requirements with their inclusion in the AOA of a joint stock company:

Match the following elements with their description in relation to the capital structure of a joint stock company:

Match the following provisions with their inclusion in the AOA of a joint stock company:

Match the following statements with their accuracy regarding the liability in a joint stock company:

Match the following terms with their descriptions regarding the capital structure of a joint stock company:

Match the following elements with their description in relation to a joint stock company:

Match the following requirements with their inclusion in the AOA of a joint stock company:

Match the following legal actions with their descriptions:

Match the following consequences with their triggers:

Match the following shareholder rights with their descriptions:

Match these legal actions with their outcomes:

Match these statements with their related topics:

Match these legal actions with their triggers:

Match these shareholder rights with their related outcomes:

Match these legal actions with their consequences:

Match these shareholder rights with their triggers:

Match these legal actions with their outcomes:

Board members are elected by the Ordinary General Assembly (GA) and their term of office cannot exceed _____ years. They can be dismissed by GA and re-election is allowed unless specified in AOA. AOA specifies the method of forming the board and _____.

The GA can terminate membership of board members for repeated absenteeism, and notification of interest in business transactions is required. Failing to disclose interest can result in _____ action.

Board members must disclose direct or indirect interests in business transactions, and they cannot vote on resolutions regarding their interest. The company can take legal action for breach of contract or _____ profit.

Board members and members with interests can be held liable for damages from business transactions, unless they object explicitly during the _____.

Shareholder GA meetings are chaired by the chairman or vice chairman. Shareholders can attend and assign someone to represent them. Meetings can be held using technology, and there are _____ requirements.

Extraordinary GA meetings have powers to amend AOA with exceptions, procedures for calling meetings, and setting _____.

Different quorum percentages for ordinary and extraordinary meetings exist, and decisions are passed by majority and two-thirds _____ respectively.

Validity and registration requirements for capital decisions include 75% of shareholders with voting rights required for certain _____.

The content and purpose of meeting minutes include attendance, share ownership, votes, decisions, and a brief summary of _____.

The GA can terminate membership of board members for repeated _____, and notification of interest in business transactions is required.

Shares of the same class will have ______ nominal value

Company losses – the company losses if the losses reach half of the issued ______

The majority shareholder have the right to force the minority to accept an offer from a serious buyer for purchasing all the company’s shares for the same price given to the majority & under the same ______

Shares can only be issued at a higher value than their ______ value

After each meeting, these minutes should be written down in a special book and signed by the meeting’s ______

The AOA will determine the nominal value of the shares, and shares of the same type of class will have an ______ nominal value

Shares, debt instruments and sukuk issued by JSC – shares must be registered to the holder’s name, and if the shares are owned by several people, they can appoint one of them to represent them when exercising their rights and they will all be jointly ______ for the obligations that arise from owning the shares

The obligation to sell shares – The majority shareholder have the right to force the minority to accept an offer from a serious buyer for purchasing all the company’s shares for the same price given to the majority & under the same ______

Types & classes of shares – there 3 types of shares 1. Ordinary 2. Preferred 3. ______

If the JSC is unlisted, they must give certificate of ______

Joint stock company: Its a business venture, established by one or more natural or legal persons, and the capital is divided into negotiable shares, its liable only for the debts & obligations of its business activities, and the liability of the shareholder is limited. - Its capital must not be less than ______ riyals, and the paid up amount may not be less than one quarter of the value. - The authorized capital (total shares of the comp) will be mentioned in the AOA - The issued capital (shares owned by shareholders) can be increased within the limits of the authorized capital and if it’s paid in full The AOA of JSC must include: * Name of the company. * Headquarters. * Objectives of the company. * The authorized & issued capital. * Number and classes of shares. * The management and the number of board members. * company’s term *Details of commencement. *Other provisions.

The AOA of JSC must include: * Name of the company. * Headquarters. * Objectives of the company. * The authorized & issued capital. * Number and classes of shares. * The management and the number of board members. * company’s term *Details of commencement. *Other ______.

The authorized capital (total shares of the comp) will be mentioned in the ______

The issued capital (shares owned by shareholders) can be increased within the limits of the authorized capital and if it’s ______ in full

The capital is divided into negotiable ______.

Its a business venture, established by one or more natural or legal persons, and the capital is divided into negotiable ______.

Its liable only for the debts & obligations of its business activities, and the liability of the shareholder is ______.

Its capital must not be less than 500k riyals, and the paid up amount may not be less than one quarter of the ______.

The AOA of JSC must include: * Name of the ______.

The AOA of JSC must include: * The management and the number of ______ members.

Joint stock company: Its a business venture, established by one or more natural or legal persons, and the capital is divided into negotiable ______.

Types & classes of shares – there 3 types of shares 1. Ordinary 2. Preferred 3. ______

Shares of the same class will have ______ nominal value

The majority shareholder have the right to force the minority to accept an offer from a serious buyer for purchasing all the company’s shares for the same price given to the majority & under the same ______

Validity and registration requirements for capital decisions include 75% of shareholders with voting rights required for certain ______.

The authorized capital (total shares of the comp) will be mentioned in the ______

The GA can terminate membership of board members for repeated ______, and notification of interest in business transactions is required.

After each meeting, these minutes should be written down in a special book and signed by the meeting’s ______

Shareholder GA meetings are chaired by the chairman or vice chairman. Shareholders can attend and assign someone to represent them. Meetings can be held using technology, and there are ______ requirements.

Shares, debt instruments and sukuk issued by JSC – shares must be registered to the holder’s name, and if the shares are owned by several people, they can appoint one of them to represent them when exercising their rights and they will all be jointly ______ for the obligations that arise from owning the shares

Board members are elected by the Ordinary General Assembly (GA) and their term of office cannot exceed _____ years. They can be dismissed by GA and re-election is allowed unless specified in AOA. AOA specifies the method of forming the board and

GA can terminate membership of board members for repeated _____, and notification of interest in business transactions is required.

Board members must disclose direct or indirect interests in business transactions, and they cannot vote on resolutions regarding their interest. The company can take legal action for breach of contract or _____ profit.

Different quorum percentages for ordinary and extraordinary meetings exist, and decisions are passed by majority and two-thirds _____ respectively.

Shareholder GA meetings are chaired by the chairman or vice chairman. Shareholders can attend and assign someone to represent them. Meetings can be held using technology, and there are _____ requirements.

The AOA of JSC must include: * The management and the number of _____ members.

The capital is divided into negotiable _____.

The content and purpose of meeting minutes include attendance, share ownership, votes, decisions, and a brief summary of _____.

Validity and registration requirements for capital decisions include 75% of shareholders with voting rights required for certain _____.

The GA can terminate membership of board members for repeated absenteeism, and notification of interest in business transactions is required. Failing to disclose interest can result in _____ action.

Types & classes of shares – there 3 types of shares 1. Ordinary 2. Preferred 3. ______

Shares can only be issued at a higher value than their ______ value

Match the following statements with their accuracy in relation to a joint stock company: The authorized capital (total shares of the comp) will be mentioned in the ______

Shareholder GA meetings are chaired by the chairman or vice chairman. Shareholders can attend and assign someone to represent them. Meetings can be held using technology, and there are ______ requirements

Board members must disclose direct or indirect interests in business transactions, and they cannot vote on resolutions regarding their interest. The company can take legal action for breach of contract or ______ profit

The majority shareholder have the right to force the minority to accept an offer from a serious buyer for purchasing all the company’s shares for the same price given to the majority & under the same ______

Match the following terms with their descriptions regarding the capital structure of a joint stock company: Shares of the same class will have ______ nominal value

Validity and registration requirements for capital decisions include 75% of shareholders with voting rights required for certain ______

The GA can terminate membership of board members for repeated ______, and notification of interest in business transactions is required

The content and purpose of meeting minutes include attendance, share ownership, votes, decisions, and a brief summary of ______

Shares, debt instruments and sukuk issued by JSC – shares must be registered to the holder’s name, and if the shares are owned by several people, they can appoint one of them to represent them when exercising their rights and they will all be jointly ______ for the obligations that arise from owning the shares

Summary

  • Board Members: Elected by Ordinary General Assembly (GA), term of office cannot exceed 4 years, can be dismissed by GA, re-election allowed unless specified in AOA, AOA specifies method of forming board and voting.

  • Termination of Board Members: GA can terminate membership for repeated absenteeism, notification of interest in business transactions required, failing to disclose interest can result in legal action.

  • Disclosure of Interest: Board members must disclose direct or indirect interests in business transactions, cannot vote on resolutions regarding their interest, company can take legal action for breach of contract or unlawful profit.

  • Liability: Board members and members with interests can be held liable for damages from business transactions, unless they object explicitly during the meeting.

  • Shareholder GA Meetings: Chaired by chairman or vice chairman, shareholders can attend and assign someone to represent them, meetings can be held using technology, quorum requirements.

  • Extraordinary GA Meetings: Powers to amend AOA with exceptions, procedures for calling meetings and setting quorum.

  • Quorum and Decisions: Different quorum percentages for ordinary and extraordinary meetings, decisions passed by majority and two-thirds votes respectively.

  • Capital Decisions: Validity and registration requirements for capital decisions, 75% of shareholders with voting rights required for certain decisions.

  • Meeting Minutes: Content and purpose of meeting minutes, including attendance, share ownership, votes, decisions, and a brief summary of discussions.

  • Board Members: Elected by Ordinary General Assembly (GA), term of office cannot exceed 4 years, can be dismissed by GA, re-election allowed unless specified in AOA, AOA specifies method of forming board and voting.

  • Termination of Board Members: GA can terminate membership for repeated absenteeism, notification of interest in business transactions required, failing to disclose interest can result in legal action.

  • Disclosure of Interest: Board members must disclose direct or indirect interests in business transactions, cannot vote on resolutions regarding their interest, company can take legal action for breach of contract or unlawful profit.

  • Liability: Board members and members with interests can be held liable for damages from business transactions, unless they object explicitly during the meeting.

  • Shareholder GA Meetings: Chaired by chairman or vice chairman, shareholders can attend and assign someone to represent them, meetings can be held using technology, quorum requirements.

  • Extraordinary GA Meetings: Powers to amend AOA with exceptions, procedures for calling meetings and setting quorum.

  • Quorum and Decisions: Different quorum percentages for ordinary and extraordinary meetings, decisions passed by majority and two-thirds votes respectively.

  • Capital Decisions: Validity and registration requirements for capital decisions, 75% of shareholders with voting rights required for certain decisions.

  • Meeting Minutes: Content and purpose of meeting minutes, including attendance, share ownership, votes, decisions, and a brief summary of discussions.

  • Board Members: Elected by Ordinary General Assembly (GA), term of office cannot exceed 4 years, can be dismissed by GA, re-election allowed unless specified in AOA, AOA specifies method of forming board and voting.

  • Termination of Board Members: GA can terminate membership for repeated absenteeism, notification of interest in business transactions required, failing to disclose interest can result in legal action.

  • Disclosure of Interest: Board members must disclose direct or indirect interests in business transactions, cannot vote on resolutions regarding their interest, company can take legal action for breach of contract or unlawful profit.

  • Liability: Board members and members with interests can be held liable for damages from business transactions, unless they object explicitly during the meeting.

  • Shareholder GA Meetings: Chaired by chairman or vice chairman, shareholders can attend and assign someone to represent them, meetings can be held using technology, quorum requirements.

  • Extraordinary GA Meetings: Powers to amend AOA with exceptions, procedures for calling meetings and setting quorum.

  • Quorum and Decisions: Different quorum percentages for ordinary and extraordinary meetings, decisions passed by majority and two-thirds votes respectively.

  • Capital Decisions: Validity and registration requirements for capital decisions, 75% of shareholders with voting rights required for certain decisions.

  • Meeting Minutes: Content and purpose of meeting minutes, including attendance, share ownership, votes, decisions, and a brief summary of discussions.

Description

Test your knowledge about joint stock companies, which are business ventures with capital divided into negotiable shares, limited liability for shareholders, and specific capital requirements. This quiz covers the key characteristics and requirements of joint stock companies.

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