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Article R228-23 of the French Commercial code

The request for approval of the transferee provided for in the first paragraph of article L. 228-24 is notified to the company by extrajudicial document or by registered letter with acknowledgement of receipt. The appointment of the expert provided for in article 1843-4 of the Civil Code shall be made by the President of the Commercial Court; the latter shall grant the extension of the deadline provided for in the…

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Article R228-24 of the French Commercial code

For the application of Article L. 228-27, the defaulting shareholder is given formal notice by registered letter with acknowledgement of receipt. The sale of shares not admitted to trading on a regulated market is carried out at public auction by an investment services provider other than a portfolio management company or by a notary under the conditions provided for in article L. 211-21 of the Monetary and Financial Code.To this…

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Article R228-25 of the French Commercial code

The entry of the defaulting shareholder is automatically deleted from the company’s register of registered shares. If the shares issued are in registered form, the acquirer is registered and new certificates indicating the payment of the instalments called up and marked “duplicate” are issued. Where the shares were registered in an account with the issuer in accordance with the provisions of articles R. 211-1 and R. 211-4 of the Monetary…

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Article R228-28 of the French Commercial code

Decisions by general meetings of shareholders, relating to the consolidation of shares, provided for in articles L. 228-29-1 and L. 228-29-2, are taken, under the conditions laid down for amending the Articles of Association, on the proposal of a manager or the Board of Directors; this proposal relates in particular to the price for trading fractional shares and the commitments relating to this trading provided for in Article L. 228-29-2….

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Article R228-30 of the French Commercial code

The period provided for in the first paragraph of Article L. 228-29-3 is two years from the initial date of the consolidation transactions. Shareholders who have given the undertaking provided for in article L. 228-29-2 have an additional period of one month from the expiry of the period provided for in the first paragraph to consolidate their shares. The provisions of the first paragraph of Article L. 228-29-3 do not…

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Article R228-31 of the French Commercial code

The decisions of the general meetings of shareholders referred to in article R. 228-28 are published in the Bulletin des annonces légales obligatoires. This publication indicates the date on which the consolidation operations will begin; this date is at least fifteen days after the date of publication. This publication shall also indicate: 1° The company name and form of the company; 2° Its registered office; 3° The amount of its…

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