{"id":9040098,"date":"2025-12-29T07:00:51","date_gmt":"2025-12-29T07:00:51","guid":{"rendered":"https:\/\/www.gremicat.es\/?p=9040098"},"modified":"2025-12-23T11:15:33","modified_gmt":"2025-12-23T11:15:33","slug":"notice-of-the-general-meeting-and-the-right-to-information","status":"publish","type":"post","link":"https:\/\/www.gremicat.es\/en\/notice-of-the-general-meeting-and-the-right-to-information\/","title":{"rendered":"Notice of the General Meeting and the Right to Information"},"content":{"rendered":"\t\t
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The right of members to information must be expressly stated in the notice of the meeting, or the entire approval of the accounts will be invalidated.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The Mercantile Registry has once again refused to register a set of annual accounts due to a formal error in the meeting notice. A reminder that details also matter in corporate compliance. Shareholders\u2019 right to information must be expressly included in the notice of the general meeting; otherwise, the entire approval of the accounts will be invalid.<\/p>

Hundreds of companies prepare the filing of their annual accounts assuming it is an automatic procedure. However, the Directorate General for Legal Certainty and Public Faith (DGSJFP) has reminded, in its Resolution of 28 July 2025, that a small oversight in the notice of the general meeting can invalidate the entire process.<\/p>

The case is revealing. A sports public limited company sought to file the accounts for three consecutive financial years. The mercantile registrar rejected the filing, and the matter was ultimately brought before the DGSJFP. The main reason? The notice convening the general meeting completely omitted any reference to shareholders\u2019 right to information as provided for in Article 272.2 of the Spanish Companies Act (LSC).<\/p>

In other words, the notice did not expressly remind shareholders that they have the right to obtain from the company, immediately and free of charge, the documents to be submitted for approval (annual accounts, management report, and audit report).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cBut we published it on the website\u2026\u201d<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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That was the company\u2019s argument: it claimed that all documents were available on its website, meaning shareholders could consult them without difficulty. The Directorate General, however, was categorical: \u201cPublishing the documentation on the website does not replace the legal obligation to expressly inform shareholders of their right to obtain such documents.\u201d<\/em><\/p>

The law does not require a literal quotation of Article 272.2 LSC, but it does require that it be made absolutely clear that shareholders may request and obtain the documents immediately and free of charge. If this reference is missing, the meeting is affected by nullity, and the approved accounts cannot be filed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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What are the consequences?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The consequences are more serious than they may appear:<\/p>