Capital reduction may be achieved by reducing the face value of shares or by reducing the
number of shares.
Where there is an auditor, he shall be informed of the intended reduction of capital within thirty
days prior to the holding of the extraordinary general meeting.
He shall present his appraisal of the causes and conditions of the reduction to the meeting.
In the case of written consultation, the intended reduction of capital shall be notified to the
members under the same conditions as those laid down in Article 340 above.
It shall be forbidden for the company to purchase its own shares.
However, the meeting which decided the reduction of capital not arising from losses may
authorize the manager to purchase a specific number of shares to cancel them.
Official translation
Spot-checked
In force from 17 April 1997
Source page 90