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On 11 June 2018, the Minister of Economy of the Republic of Lithuania adopted an order “On the approval of new founding agreement and model statute forms while establishing an LLC” which is coming into force on 1 December 2018.
One of the key aspects of these changes is the amendment related to shareholders’ right to information. It is directly related to the changes of Law on Companies that entered into force at the end of 2017. The changes amended the content of the right of shareholders that was based on the size of shareholding held. Though the amendments are intended to protect small shareholders rights in general, it is doubtful as might create additional obstacles so contrary – limiting the right to information.
Other relevant rules for the implementation of the right to information and its possible limitations have been determined.
July 10, 2018
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