The authorized capital is reduced by the decision of the general meeting of shareholders or, in the cases established by the Law on Joint Stock Companies of the Republic of Lithuania, by a court decision.
The objectives of decrease of the authorized capital:
- to cancel the losses recorded in the company’s balance sheet;
- in order to cancel the shares purchased by the company;
- in order to pay out the company’s funds to the shareholders. The decision to reduce the authorized capital in order to pay out the company’s funds to the shareholders can only be taken at the ordinary general meeting of shareholders.
- to correct mistakes made during the creation or increase of the authorized capital.
The authorized capital may be reduced in the following ways:
- reducing the nominal value of the shares;
- by cancelling shares.
We will do the following:
- we will advise on the reduction of the authorized capital;
- we will prepare the minutes of the shareholders’ meeting/sole shareholder’s decision, we will ensure proper publication of information about the convened general meeting of shareholders;
- we will prepare a new version of the founding document (statutes) and other legal documents that meet the requirements of legal acts;
- we will ensure proper publication of information about the reduction of authorized capital;
- we will fill in the forms submitted to the Register of Legal Entities (JAR forms);
- we will represent you at the notary’s office and/or the Register of Legal Entities.
The price of the decrease of the authorized capital is from 400 Eur.