SECTION 592

Where the general meeting has delegated its powers under the conditions stipulated in Article 568 of this Uniform Act, the board of directors or the Managing Director, as the case may be, shall draw up, when exercising their powers, an additional report describing the final conditions of the operation defined in accordance with the powers conferred by the meeting. The report shall also comprise the data provided for in Article 589 of this Uniform Act. The auditor shall verify in particular that the conditions of the operation are in conformity with the powers conferred by the meeting and the information provided to the latter. He shall also express his opinion on the choice of information for the calculation of the issue price and on the final amount of the price, as well as on the impact of the issue on the financial situation of the shareholder in particular as concerns his share of the company’s equity capital at the close of the last fiscal year. These additional reports shall forthwith be placed at the disposal of shareholders at the registered office within fifteen days following the date of the board of directors’ meeting or the decision of the Managing Director and notified on them at the very next meeting. Section 4 Renunciation of the pre-emptive right of subscription