SECTION 590

When the meeting itself prescribes all the terms of the capital increase, the report referred toin article 588 above shall also state the impact on the financial situation of shareholders, the proposed issue, in particular with regard to its share of equity at the close of the last fiscal year. P. 163 of 267 If the close of the fiscal year precedes the planned transaction by more than six (6) months, such impact shall be assessedin the light of a mid-term financial report established over the last six months accordingthe same procedures and the same layout as the last annual balance sheet. Resolutions passed without the auditor’s report or that of the general director, as the case may be, as provided for in article 588 above, shall be null.Resolutions may be cancelled in case the report does not contain all particulars provided for in this article and article 589 above.