The constitutive general meeting shall be chaired by a member of the constitutive committee. The convening of the meeting shall not be valid unless the meeting is attended by shareholders in person or by proxy representing at least sixty five percent (65%) of the company’s share capital, failing which, a second meeting shall be convened to discuss the same agenda. A proxy must be made in writing, failing which it will not be valid. The resolutions of the second general meeting shall be valid regardless of the number of shares represented, provided that such general meeting shall be convened within fourteen (14) days of the date of the first general meeting, by publication pursuant to the provisions of this Law, at least (7) seven days prior to the date set for convening the second general meeting. The resolutions of the general meeting shall be adopted by a simple majority of the votes cast.
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