Heineken NV said April 20 that its shareholders approved certain amendments to the Dutch brewer's articles of association during their annual meeting.
With this amendment, the brewer said, the 250 priority shares of €2 nominal value each have been abolished from the company's capital structure. Following the change, the general meeting of the shareholders can now determine the number of executive directors and the number of nonexecutive directors. It can also cooperate in the issuance of depositary receipts for shares. These powers were previously vested in the meeting of holders of priority shares.
In the general meeting, the shareholders can now determine the remuneration of the members of the board of directors. Additionally, the Dutch company said the general meeting can approve certain resolutions of the board of directors. In cases of conflict of interest, the company said the general meeting may now adopt resolutions if no resolution of the board of directors can be taken.
