A shareholder (also referred to as a shareholder) is an individual or institution (including a capital company) legally owning one or more shares of the share capital of a public or private limited company. Shareholders may be designated as members of a company. By law, a person is a shareholder in a corporation only when his or her name and other information are registered in the register of shareholders or members. [1] The rights mentioned above can normally be included in (1) cash rights and (2) voting rights. While the value of the shares is primarily fuelled by the cash rights they carry («cash is king»), voting rights can also be valuable. The value of shareholders` cash rights can be calculated by announcing future free cash flows. The value of shareholder voting rights can be calculated in four methods: in the first phase, the decision of the general meeting of shareholders is submitted for publication in the Romanian Official Journal. From the date of publication, there is a 30-day delay for anyone interested to show up in opposition. If there is no opposition, you can move on to the second stage. If appeals are made, they are tried in court and until a final judgment is rendered, the registration procedure with the Romanian trade register is suspended.

Documents required for the first stage of share transfer:1. Request for registration2. The decision of the general meeting of shareholders / the decision of the exclusive action,3. If necessary, allow designated persons to complete legal formalities4. Proof of payment of the legal tariff. An individual or institution may be a common shareholder holding common shares in a company. This type of participation is more common. Ordinary shareholders have the right to influence decisions about the company and can bring a class action in the event of a fault. [2] The selection of a foreign law in a shareholders` pact governing the corporate governance of an entity established in Romania may highlight legal uncertainty when a court is asked to interpret and enforce the agreement.

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