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call in shares

English translation: buy back

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13:37 Mar 1, 2002
Polish to English translations [PRO]
Law/Patents / corporate
Polish term or phrase: call in shares
The purpose of the company may be changed by a resolution of the General Meeting. The resolution shall be taken by a majority of 2/3 votes and at the presence of shareholders representing at least half of the base capital. The above does not require to call in shares by the shareholders who do not agree with the changing of the company purpose.


I am translating from English into Italian an Articles of Association previously translated from Polish into English.

I have some difficulty in understanding the sentence above. I am sure that many of you have experience with Articles of Association and therefore I am grateful to you for any suggestion.

TIA
rgrds
anusca
anusca
Italy
Local time: 23:00
English translation:buy back
Explanation:
It is very likely that the original Polish reads as follows:
"Przedmiot działalności Spółki może zostać zmieniony bez obowiązku wykupu akcji akcjonariuszy, którzy nie zgadzają się na zmianę, jeżeli uchwała o zmianie przedmiotu działalności zostanie podjęta większością dwóch trzecich głosów przy obecności osób reprezentujących co najmniej połowę kapitału zakładowego."
(ref. below)
If so the second sentence in your quote could be rephrased in English as follows:
"The above does not require the shares held by the shareholders disagreeing with the change of the company's purpose [objects would be the more usual word here] to be bought back."
Selected response from:

Andrzej Glazek
Poland
Local time: 23:00
Grading comment
I am very grateful to you for your help!
Now I am quite sure about the meaning and I will translate according to the sentence reformulated by you.

Thanks again and best regards
anusca
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3buy back
Andrzej Glazek


Discussion entries: 1





  

Answers


30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
buy back


Explanation:
It is very likely that the original Polish reads as follows:
"Przedmiot działalności Spółki może zostać zmieniony bez obowiązku wykupu akcji akcjonariuszy, którzy nie zgadzają się na zmianę, jeżeli uchwała o zmianie przedmiotu działalności zostanie podjęta większością dwóch trzecich głosów przy obecności osób reprezentujących co najmniej połowę kapitału zakładowego."
(ref. below)
If so the second sentence in your quote could be rephrased in English as follows:
"The above does not require the shares held by the shareholders disagreeing with the change of the company's purpose [objects would be the more usual word here] to be bought back."


    Reference: http://biznes.onet.pl/informacje/drukuj.html?id=642&ITEM=107...
Andrzej Glazek
Poland
Local time: 23:00
Native speaker of: Polish
PRO pts in pair: 239
Grading comment
I am very grateful to you for your help!
Now I am quite sure about the meaning and I will translate according to the sentence reformulated by you.

Thanks again and best regards
anusca

Peer comments on this answer (and responses from the answerer)
agree  Hanna Burdon: wholeheartedly :)
7 mins

agree  Magda Dziadosz
1 hr

agree  kataryna
1 hr
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