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Shareholders' rights

1. Right to a dividend
 
Each shareholder of Aktiv Properties REIT has the right to participate in the distribution of profits and to receive dividend in case the General Meeting of Shareholders has taken decision to pay out dividends. The persons registered as shareholders in the registers of the Central Depository on the 14th (fourteenth) day following the day of the convocation of the General Meeting of Shareholders (General Meeting or GMS) are entitled to receive dividend. The shareholders can receive the dividend accepted by vote within a 12-month period from the end of the financial year. Any dividends unclaimed for five years as from the day on which their payment was due are retained by the Aktiv Properties REIT and are stated as financial income in The Statement of Comprehensive Income.
 
2. Right to participation in capital increase
 
In case of a capital increase, each shareholder of Aktiv Properties REIT has the right to acquire shares, corresponding to his/her share in the capital prior to the increase. The persons who have acquired shares within 14 days after the day of the resolution of the General Meeting on the capital increase are entitled to take part in the capital increase.
 
3. Right to a liquidation quota
 
In case of termination of Aktiv Properties REIT, each shareholder has the right to a liquidation quota proportionate to his/her participation in the capital of the Fund. Only the persons who are shareholders of Aktiv Properties REIT at the time of its termination are entitled to receive a liquidation quota.
 
4. Right to participation in the General Meeting of Shareholders
 
Each shareholder of Aktiv Properties REIT has the right to participate in the GMS and express his/her opinion.
 
·         Right to vote at the GMS
 
Each shareholder of Aktiv Properties REIT has a voting right at the General Meeting of Shareholders. Each share gives its holder the right to one vote at the GMS. The right to vote may be exercised by shareholders, who are registered in the registers of the Central Depository at least 14 days prior the day of convocation of the GMS. Each shareholder has the right to vote at his/her own discretion on every item included in the Agenda, or to exercise his voting right via a power of attorney.
 
·         Right of convening of a GMS
 
Shareholders of Aktiv Properties REIT, who have held at least 5% of the capital of the Fund for more than three months, are entitled to request convening of a General Meeting of Shareholders. If within a month the request of the shareholders under the previous sentence has not been satisfied, the Plovdiv District Court shall convene the General Meeting or shall authorize the shareholders who have requested the convocation or their proxies to convene the GMS.
 
·         Right to include additional items in the Agenda of the GMS
 
Shareholders of Aktiv Properties REIT, who have been holding at least 5% of the capital of the Fund for a period of more than three months, have the right to request new items to be added to the Agenda announced in the Notice. No later than 15 days prior to the opening of the GMS, the shareholders as per the previous sentence shall file for announcement in the Commercial Register a list of the items to be added to the Agenda, together with the draft resolutions. By their announcement in the Commercial Register, the items shall be considered included in the proposed Agenda.
 
·         Right to information concerning the GMS
 
Each shareholder of Aktiv Properties REIT has the right to receive information on the written materials related to the Agenda of the General Meeting of Shareholders. They are made available to the shareholders not later than the date of announcement of the Notice convening the GMS in the Commercial Register. On request, each shareholder has the right to receive the materials related to the GMS free of charge. The minutes and the proposed draft resolutions of the GMS are kept for at least 5 years, as they are presented to any shareholder at request.
 
·         Right of cancellation of a resolution of the GMS
 
Each shareholder of Aktiv Properties REIT may bring a legal action before Plovdiv District Court for cancellation of a resolution of the General Meeting of Shareholders when such resolution is in contravention to any mandatory statutory provisions or the provisions of Aktiv Properties REIT’s By-Laws. The action shall be brought against the Fund within 14 days from the date of the General Meeting, which the petitioner attended or to which she/he has been duly invited, and in all other cases – within 14 days as from the notification but not later than three months after the date of the GMS. Any shareholder may join the legal action in accordance with the provisions of the Civil Procedure Code. She/he can maintain the claim even if the petitioner subsequently denies or withdraws the claim.
 
5. Right of control over the activities of the governing bodies
 
Shareholders of Aktiv Properties REIT, who together or individually hold 5% or more of the Fund's share capital, have the right to:
  • file with the court any claims Aktiv Properties REIT may have to third parties, if the Fund's governing bodies neglect to act thus putting the Fund's interests at risk. The Fund shall also be summoned as a party to the legal action.
  • file claims with Plovdiv District Court for damages caused to the Aktiv Properties REIT by actions or omissions of the members of the Board of Directors.
  • request of the GMS or Plovdiv District Court to appoint auditors to audit all financial and accounting books and records and to issue a report on their findings.