Lex Cameroon

Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique › Book 4 › Title 1 › Chapter 2

SECTION 626-2

Today
Shares may be allotted under the same conditions as those mentioned in articles 626-1 to 626-1-3 above: 1°) Either in favor of employees of companies or of economic interest groups whose at least ten percent (10%) of the capital or voting rights are held, directly or indirectly, by the company that allots the shares; 2°) In favor of employees of companies or economic interest groups owning, directly or indirectly, at least ten percent (10%) of the capital or of the voting rights of the company that allots the shares; 3°) In favor of employees of companies or of economic interest groups whose fifty percent (50%) at least of the capital or of the voting rights are held, directly or indirectly, by a company holding itself, directly or indirectly, at least fifty percent (50%) of the capital of the company that allots the shares. Shares that are not admitted to trading on a stock exchange may only be allotted under the conditions mentioned above to employees of the company, which carries out such allotment/allocation or to the ones mentioned in 1°. Deliberations conducted and decisions taken and allotment/allocation of shares consented in violation of this article shall be null.
Unofficial translation Transcription: Spot-checked In force from 05-05-2014 Source page 165

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ARTICLE 626-2

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Section 626-2 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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