SECTION 547

Where the company buys, within a period of two years following its registration, property belonging to a shareholder at a cost of not less than 5,000,000 (five million) CFA francs, the auditor shall, at the request of the Chairperson Managing Director, the chairperson of the board of directors or the Managing Director, according to the circumstances, draw up a report on the value of the property. The report shall be submitted to the very next ordinary general meeting for approval. The report shall describe the property to be bought, indicate the criteria used in fixing the price and assess the relevance of such criteria. The auditor shall draw up the report and deposit same at the registered office of the company at least fifteen days before the date of the ordinary general meeting. The general meeting shall take a decision on the evaluation of the property under penalty of the sale being declared null and void. The seller shall not take part either personally or as an agent in the vote of the resolution on the sale, and his shares shall not be taken into account in calculating the quorum and the majority. Section 2 Meeting, quorum and majority