TITLE II: Provisions specific to various commercial companies.

Share consolidations provided for in article L. 228-29-1 include the obligation for shareholders to make the purchases or sales of shares necessary to carry out the reverse split. The nominal value of the consolidated shares may not exceed an amount set by decree in the Conseil d’Etat. To facilitate these operations, the company must, before the decision of the general meeting, obtain an undertaking from one or more shareholders to…

At the end of the period set by the decree provided for in article L. 228-29-7, shares not presented for consolidation lose their voting rights and their right to dividends is suspended. The decree referred to in the first paragraph may grant an additional period to shareholders who have given the undertaking provided for in the third paragraph of Article L. 228-29-2. Dividends the payment of which has been suspended…

When the owners of securities do not have the free administration of their property, the request to exchange the old securities and the purchases or sales of fractional shares necessary to carry out the consolidation are treated as acts of simple administration, unless the new securities are requested in bearer form in exchange for registered securities.

The new securities have the same characteristics and confer, ipso jure and without the performance of any formality, the same rights in rem or claims as the old securities they replace. Rights in rem and pledges are carried over ipso jure to the new securities allocated in replacement of the old securities which are encumbered by them.

In the event of non-compliance by the company with either articles L. 228-29-1 or L. 228-29-2, or the conditions under which decisions must be taken at general meetings and the publication formalities laid down by the decree provided for in Article L. 228-29-7, consolidation remains optional for shareholders. The provisions of article L. 228-29-3 may not be applied to shareholders. If the shareholder(s) who gave the undertaking provided for in…

A decree in the Conseil d’Etat shall set the terms and conditions for the application of articles L. 228-29-1 to L. 228-29-6, in particular the conditions not provided for in Article L. 228-29-1 under which decisions of general meetings of shareholders must be taken and the formalities for publicising these decisions completed.

Companies whose shares are admitted to trading on a regulated market established or operating in a Member State of the European Union shall send to the intermediaries mentioned in 1° to 4° of I of Article L. 228-2 the information necessary to enable shareholders or their proxies to exercise the rights deriving from the shares, unless this information has been sent directly to the shareholders or to a third party…

I.-This article applies to the intermediaries mentioned in 1° to 4° of I of article L. 228-2 when they provide services to shareholders or other intermediaries in relation to the shares of companies that have their registered office in a Member State of the European Union and whose shares are admitted to trading on a regulated market established or operating in a Member State of the European Union. II.-The intermediaries…

The intermediaries referred to in article L. 228-29-7-2 facilitate the exercise by shareholders of their rights, in particular the right to attend and vote at general meetings, in accordance with the conditions laid down by decree of the Conseil d’Etat. .

Any fees charged by an intermediary for the services mentioned in Articles L. 228-29-7-1 to L. 228-29-7-3 shall be non-discriminatory and proportionate to the costs incurred in providing these services. Any difference in charges resulting from the cross-border nature of the service shall be authorised only if it is explained and corresponds to the difference in costs incurred in providing the service. The charges shall be made public, under conditions…