Article 114 of Companies Law

The company's manager must invite the ordinary general assembly to convene its annual meeting within three months after the end of the financial year. The agenda of the assembly's annual meeting shall include consideration of and a decision on the following matters: 1- The manager's report on the company's activities and financial position for the financial year ended, and the report of the supervisory board, if any. 2- The auditor's report on the company's financial statements. 3- The company's financial statements. 4- The manager's proposals concerning distribution of profits, provided that profits approved by the assembly are distributed within a period not exceeding one month from the date the assembly convenes. 5- Appointment or removal of the company's manager or restriction of his authority if he was not appointed in the company's constitutive contract. If the company has more than one manager, the general assembly shall determine the powers and responsibilities of each manager. 6- Appointment and removal of the supervisory board, if any. 7- Appointment of an auditor for the following financial year and determination of his fees. 8- Any other matters which any of the bodies entitled to request the convening of an assembly meeting considers should be included in the agenda.