On 25 January 2019, Bill No 7402 (the "Bill") implementing Directive (EU) 2017/828 as regards the encouragement of long-term shareholder engagement (the Shareholder Rights Directive II or SRD II) was introduced. The Bill amends the Act of 24 May 2011 on the exercise of shareholder rights and is intended to enhance the long-term sustainability of Luxembourg-based companies whose shares are listed on a regulated market in an EU Member State or, in the event of an opt-in, on a third-country regulated market.