Sums of money used for the reimbursement of shares shall be deducted from profits or
withdrawn from the non-statutory reserves.
Money may not be withdrawn from the legal reserve or, except otherwise decided by the
extraordinary general meeting, from the statutory reserves.
Reimbursement of shares may not lead to the reduction of shareholders’ equity to an amount
lower than the amount of the authorized capital increased by reserves that the law or the Articles
of Association do not permit to be distributed.
Section 2
Rights attached to redeemed shares and conversion of redeemed shares into capital
shares
Official translation
Spot-checked
In force from 17 April 1997
Source page 147