Chapter VIII: Transferable securities issued by joint stock companies.

The company called upon to allot the equity securities or securities giving access thereto must take the measures necessary to protect the interests of the holders of the rights thus created if it decides to issue, in any form whatsoever, new equity securities with preferential subscription rights reserved for its shareholders, to distribute reserves, in cash or in kind, and share premiums or to change the allocation of its profits…

The provisions of articles L. 228-98 and L. 228-99 are applicable for as long as there are rights attached to each of the components of the securities mentioned in these articles.

If the company called upon to issue the equity securities is absorbed by another company or merges with one or more other companies to form a new company, or carries out a demerger, the holders of securities giving access to the capital shall exercise their rights in the company or companies receiving the contributions. Article L. 228-65 is not applicable, unless otherwise stipulated in the issue contract. The number of…

Unless specifically stipulated in the issue contract and excluding the case of early dissolution not resulting from a merger or demerger, the company may not require holders of securities giving access to its capital to repurchase or redeem their rights.

The holders of securities giving future access to the capital after detachment, where applicable, of the rights of the original security pursuant to this section shall be grouped ipso jure, for the defence of their common interests, in a body which shall have civil personality and shall be subject to provisions identical to those provided for, in respect of bonds, by Articles L. 228-47 to L. 228-64, L. 228-66 and…

Deliberations or stipulations made in violation of articles L. 228-98 to L. 228-101 and L. 228-103 are null and void.

Holders of securities giving access to the capital have, under the conditions laid down by decree of the Conseil d’Etat, a right of disclosure to the company issuing the securities they are entitled to receive of the corporate documents sent by the company to the shareholders or holders of investment certificates or made available to them. Where the rights to a share of the share capital are incorporated in or…

When safeguard or receivership proceedings are opened against a company issuing securities giving access to the capital under the conditions of article L. 228-91, the period provided for exercising the right to an allocation of a share of the company’s capital shall begin as soon as the judgment approving the safeguard or receivership plan is handed down, at the option of each holder, and under the conditions provided for in…