Mandatory disclosure of shareholdings in joint stock companies
A new law recently came into effect extending the obligation to disclose major shareholdings within unlisted joint stock companies which have issued bearer or scriptless shares.
Any legal entity or individual who, following the acquisition of voting securities in such a company, acquires a high proportion of the shareholding must inform the company of the number of shares they hold. The Law[1] came into effect on 5 February 2010.
Please see our newsletter of 26 November 2009 for more information.
Yannick Van den broeke, Advocaat/Avocat, Tel.: + 32 2 800 71 64, E-mail: yvandenbroeke@laga.be
Tim Baart, Partner, Advocaat/Avocat, Tel.: + 32 3 242 42 22, E-mail: tibaart@laga.be
[1] The Law of 18 January amending the Law of 11 January 1993 on preventing the use of the financial system for the purpose of money laundering and financing terrorism and the Belgian Companies Code, M.B/B.S. 26 January 2010 (1st ed.), 3.135.
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