The proposed merger shall be submitted to the meetings of bondholders of the acquired companies, unless reimbursement of securities on demand is offered to said bondholders. The merger transaction carried out in violation of this paragraph shall be null.
When bonds are refundable on demand, the acquiring company shall become the debtor of the bondholders of the acquired company.
The offer of reimbursement of bonds on demand of bondholders provided for above shall be published in a newspaper authorized to publish legal notices in the State party.
Any bondholder that did not request the reimbursement within the time limit set shall retain his status in the acquiring company under the conditions set forth in the merger agreement.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 178
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 678 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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