The group of shareholders of Coral JSC invited

The group of shareholders of Coral JSC invited a lawyer to its extraordinary general meeting to resolve a number of problems. The meeting was attended by 240 shareholders, holding in aggregate 75.5% of the voting shares. The chairman announced that two shareholders could not arrive at the meeting due to illness, which was reported to him by telephone, another shareholder refused to participate in it, because he was notified not in writing, but by telephone. Finally, the largest shareholder - OO Atoll, which owns 23.5% of the shares, was not invited to the meeting at all, because it pursues a non-constructive policy regarding the joint stock company and, in addition, issues related to sanctions regarding the public association will be discussed at the meeting. "Atoll".
Since the quorum required by the charter of JSC - 75% of the voting shares was collected, the general meeting began to work. The chairman proposed to supplement the agenda with the issue of reorganization of Coral JSC, which was unanimously supported by the shareholders.
In his speech, the chairman of the meeting said that the Atoll public organization, taking advantage of the contradictions among the small shareholders of the joint-stock company, completely determines the personnel and financial policies of the joint-stock company, constantly plunging it into dubious commercial projects. So, at the last annual meeting of shareholders, Atoll NGOs skillfully played on disagreements among small participants and introduced a project into the JSC’s work plan that turned out to be financially insolvent and caused huge losses to the JSC. In this regard, the chairman proposed to recover from Atoll PA all losses incurred by the joint-stock company, as well as to reorganize the joint-stock company into a subsidiary or, at least, a dependent enterprise atoll Atoll. The last event, in his opinion, will legally formalize the current situation and protect the interests of small investors for the future.
Tell the assembly your opinion about the proposed reorganization, explain the legal status of subsidiaries and affiliates, and suggest ways to protect the interests of small shareholders.
Explain in what order the preparation and convening of the meeting of shareholders should be carried out, and what consequences may occur if this order is violated.