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Glossary of terms

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Joint Stock Company (JSC)

It is a commercial capital company whose share capital is divided into a determined number of shares with a certain nominal value.

Shareholders participate in the company through shares. However, shareholders do not participate personally in the performance of the JSC and the names of shareholders are not disclosed (also an anonymous company) - except for a single shareholder.

The joint-stock company is a closed corporation (the number of shareholders is limited by the number of shares), a tied membership (one can not denounce the company relationship, he/she can only transfer shares to another).

The bodies of the company are the General Meeting (here are the shareholders), the Board  of Directors (executive body - acting as a company) and the Supervisory Board (overseeing the Board of Directors).

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