Brazilian Corporations and Commercial Limited Liability Companies must hold shareholders/quotaholders Annual Meeting until the end of April


Brazilian Corporations and Commercial Limited Liability Companies must hold shareholders/quotaholders Annual Meeting until the end of April


Pursuant to article 1,078 of the Brazilian Civil Code and article 132 of Brazilian Federal Law 6.404/76, we inform that all Commercial Limited Liability Companies and Brazilian Corporations, regardless its size, shall perform the Annual Quotaholders’ Meeting or Annual Shareholders’ Meeting, for discussion and approval of:

(i) the management’s report and the company financial statements;

(ii) the destination of the net profit and distribution of dividends, if any; and

(iii) the appointment of officers/directors and members of the board of auditors, if applicable.

The Minutes of the Annual Quotaholders’/Shareholders’ Meeting must be held within 04 (four) months counted as of the financial year end and registered before the Board of Trade of the State in which the company’s head office is located. Therefore, considering that 2021 financial year of most Brazilian companies ended on December 31st, 2021, the Annual Meeting shall take place until April 30th, 2022.

It is important to highlight that the examination, discussion and voting of the financial statements of companies are more than a formality, they are a legal obligation that go beyond the risk of a possible inspection, allowing the shareholders to analyze the acts of the companys management and request clarification on the obligations undertaken by the executives.

Azevedo Sette’s Corporate Team is available for further clarifications and additional assistance regarding this matter.