When the meeting itself prescribes all the terms of the capital increase, the report referred to in
article 588 above shall also state the impact on the financial situation of shareholders, the
proposed issue, in particular with regard to its share of equity at the close of the last fiscal year.
If the close of the fiscal year precedes the planned transaction by more than six (6) months, such impact shall be assessed in the light of a mid-term financial report established over the last six months according the same procedures and the same layout as the last annual balance sheet.
Resolutions passed without the auditor’s report or that of the general director, as the case may be, as provided for in article 588 above, shall be null. Resolutions may be cancelled in case the report does not contain all particulars provided for in this article and article 589 above.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 156
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 590 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014
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