German Presidency advocates compromise on shareholders rights

30 January 2007

Speaking at European Parliaments JURI Committee German Federal Minister of Justice, Brigitte Zypries, has made it clear that the EU's German Presidency is committed to pressing ahead with the reinforcement of shareholders' rights.

The EU Member States will soon be required to provide listed companies with the opportunity to open their general meetings for online participation. This is mandated by a new Directive which has been agreed upon in Brussels by the European Parliament and the Council, currently under German chairmanship. The European Parliament’s Committee on Legal Affairs (JURI) today approved a text previously accepted in the Council by the Member States. The EU Council President, Federal Minister of Justice Brigitte Zypries, visited the Committee today and strongly advocated the compromise negotiated under her leadership.

'By establishing certain minimum rights, we wish to ensure that shareholders can effectively exercise their rights across borders. There are good prospects that we will be able to finalise this project during the course of our Presidency', Minister Zypries said.

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