SECTION 894

Shall face a criminal charge company management who, during a capital increase: 1)failed to enable shareholders to benefit from, proportionately to the amount of their shares, a pre-emptive subscription right for shares issued in cash when this right was not repealed by the general meeting and shareholders did not renounce it; 2) failed to allocate atime limit of twenty (20) days at least for shareholders, from the date of the opening of the subscription, unless such deadline was closed early; P. 258 of 267 3) failed to allot shares which became available, due to lack of sufficient number of subscriptions on an irreducible basis, to shareholders who subscribed on an irreducible basisto a higher number of shares than they could subscribe on an irreducible basis, proportionately to the rights they have; 4) failed to reserve the rights of holders of subscription warrants.