On 26 March 2020, the FSMA published a press release about the impact of COVID-19 on listed companies. On 9 April 2020, Royal Decree No. 4 was issued. It adopts various exceptional measures, including in the area of company law, in connection with the fight against the COVID-19 pandemic.
Royal Decree No. 4 contains, among other things, exceptional measures relating to the mandatory periodic information by listed companies and to the convocation and holding of general meetings of shareholders of companies. These measures were initially in effect until 3 May 2020. In the meantime, the end date has been extended to 30 June 2020.
The Q&A is intended:
- To recapitulate the positions taken in the FSMA’s press release of 26 March 2020 and, where necessary, to provide further details,
- In light of the provisions of Royal Decree No. 4, to sum up a number of points that the FSMA considers require attention.
The Q&A addresses three topics:
- communication about the consequences of COVID-19,
- compliance with the obligation to provide periodic information and
- the convocation and holding of general meetings of shareholders, and communication in that regard.