Conversion of shares shall be effected by a compulsory deduction, up to the redeemed amount
of shares to be converted, from the portion of profits of one or more fiscal years allocated to
these shares after payment, for partially redeemed shares, of the first dividend or the interest
accruing from the shares.
Likewise, the extraordinary general meeting may authorize the shareholders, under the same
conditions, to pay back to the company the amount of their shares redeemed and, if need be, the
first dividend or the statutory interest for the past period of the current fiscal year and, eventually,
of the preceding fiscal year.
Official translation
Spot-checked
In force from 17 April 1997
Source page 147