Ordinary and Extraordinary Meeting in the Spanish Company
General board meetings in a Spanish company may be ordinary or extraordinary depending on the nature of the issues for discussion.
A meeting is universal when any issue is valid for consideration without the need for prior notice as long as all shareholders are present or represented, and the shareholders unanimously agree to hold the meeting.
A universal board meeting may meet anywhere nationally or internationally.
Ordinary General Meeting
An ordinary general meeting, previously arranged, necessarily meets within the first six months of each year to approve the management and accounts of the previous year as well as to resolve the application of the results.
An ordinary meeting will be valid even if it meets or concludes outside the term.
Extraordinary General Meeting
All general meetings that do not fit the description in the paragraph above are extraordinary general meetings.
This article is not considered as legal advice