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IR - Corporate Governance

The Articles of Incorporation

Hyundai Heavy Industries management and directors value the most our shareholders customers, and employees and we work on a continuous and long-tern relationship

Chapter 4. General Meeting of Shareholders

  • Article 17 (Convocation)
    • ① The regular general meeting of shareholders shall be convened within 3 months from the day following the last day of the fiscal year; and extraordinary meetings of shareholders may be convened whenever deemed necessary pursuant to resolution of the board of directors and other applicable laws.
    • ② At the general meeting of shareholders, resolutions shall not be made for any matters other than the agenda notified to shareholders in advance: Provided that when all shareholders consent, the above shall not apply.
    • ③ The regular general meeting of shareholders shall be convened at the principal place of business of the Company.
    • ④ The regular general meeting of shareholders shall be convened by the representative director or a person delegated by the representative director.
  • Article 17-2 (Respect for Minority Shareholders)

    The Company shall respect rights of independent shareholders and minority shareholders recognized by the Commercial Act and applicable laws.

  • Article 18 (Individual and Public Notification of Convocation)
    • ① Upon convocation of general meetings of shareholders, the Company shall send a notification of the date, location and agenda in writing or electronic document to each shareholder 2 weeks prior to the date of the meeting.
    • ② A notification to shareholders who own one-one hundredth or less of total stocks issued shall be publicly announced twice or more of the intent to convene the general meeting of shareholders and agenda through the Korea Economic Daily and Maeil Business Newspaper published in Seoul or may be replaced with the notification of convocation under Paragraph 1 by making public announcement through the electronic public disclosure system operated by the Financial Supervisory Service or an exchange.
  • Article 19 (Presiding Officer of General Meeting)

    The representative director of the Company shall preside the general meeting of shareholders. At the time of absence of the representative director, other director designated by the representative director shall assume the duty of the representative director of the meeting; however, when the designation above is not made, one of the directors shall assume the duty above.

  • Article 20 (Maintenance of Order by Presiding Officer)
    • ① The presiding officer of a general meeting of shareholders may order anyone who notably disturbs the order by intentionally speaking or acting for a filibuster, to stop speaking or to leave the meeting room.
    • ② The presiding officer of general meeting of shareholders may limit the length and number of times for shareholders to have the floor in order to ensure proper progress of proceedings when deemed necessary.
  • Article 21 (Rights to Vote of Shareholders)

    In all matters, each shareholder shall have one vote for each stock registered under the name of the shareholder concerned.

  • Article 22 (Exercise of Voting Rights in Disunity)
    • ① If a shareholder has at least two votes, he/she may exercise them in disunity. In such cases, he/she shall notify the Company, in writing, of his/her intent to do so and the grounds therefor three days prior to the date set for a general meeting of shareholders.
    • ② The Company may reject the exercise of vote in disunity by a shareholder; however, the above shall not apply when the shareholder has accepted a trust of shares or holds the shares on behalf of another person.
  • Article 23 (Exercise of Voting Rights by Proxy)
    • ① Shareholders may have their proxy to exercise their voting rights.
    • ② The proxy above shall submit evidentiary documents in writing (letter of delegation) proving agency authority prior to the commencement of general meeting of shareholders.
  • Article 24 (Quorum and Resolution of General Meeting)

    Unless otherwise provided for by applicable laws, resolutions shall be adopted at a general meeting of shareholders by affirmative votes of a majority of the voting rights of shareholders present thereat and representing at least a quarter of the total issued and outstanding shares.

  • Article 25 (Minutes of General Meeting)

    Minutes shall record a summary of proceedings of the meeting, and the chairperson as well as the directors present at the meeting shall write their names and affix their seals, or shall affix their signatures, where the minutes shall be displayed at the principal office and branch offices of the Company.