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§ 500. Transformation resolution
- (1)
- A resolution on transformation of a private limited company into a public limited company shall be adopted if at least two-thirds of the votes represented at the meeting of shareholders are in favour, and the articles of association do not prescribe a greater majority requirement.
- (2)
- If a transformation resolution is made pursuant to the procedure provided for in § 173 of this Code, the resolution shall be adopted if at least two-thirds of the votes of the shareholders are in favour, and the articles of association do not prescribe a greater majority requirement.
- (3)
- The nominal values of shares of the public limited company may be determined differently from those of shares of the private limited company being transformed, but they shall comply with the requirements of § 223 of this Code. The shares of the private limited company being transformed may be divided without observing the provisions of subsections 152 (1) and (2) of this Code.
§ 501. Application of foundation provisions
The provisions of §§ 256-271 of this Code shall not apply to the transformation of a private limited company into a public limited company.
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