Section 3: Shareholders' meetings.

I.-Subject to the provisions of Articles L. 225-10, L. 225-123, L. 225-124, L. 225-125, L. 22-10-46, L. 22-10-47 and L. 22-10-48, the voting rights attached to capital shares or dividend-right shares are proportional to the percentage of capital they represent and each share gives the right to at least one vote. Any clause to the contrary is deemed unwritten. II.-In joint stock companies whose capital is, for a reason of…

The Articles of Association may grant double voting rights to all fully paid-up shares which have been registered in the name of the same shareholder for at least two years. In addition, in the event of a capital increase by capitalisation of reserves, profits or share premiums, double voting rights may be conferred, as from their issue, on registered shares allocated free of charge to a shareholder in respect of…

Any share converted into a bearer share or transferred in ownership loses the double voting right allocated pursuant to articles L. 225-123 and L. 22-10-46. However, a transfer as a result of inheritance, the liquidation of community property between spouses or an inter vivos gift to a spouse or relative entitled to inherit does not result in the loss of the acquired right and does not interrupt the period mentioned…

The Articles of Association may limit the number of votes available to each shareholder at meetings, provided that such limitation is imposed on all shares without distinction of class, other than non-voting preference shares.