Subsection 1: Shares for cash and paid-in capital

The different types of shares are defined inArticle L. 228-7 of the French Commercial Code, which is reproduced below: ArticleL. 228-7: “Shares for cash are those whose value is paid up in cash or by set-off, those issued following the capitalisation of reserves, profits or share premiums, and those whose value results partly from the capitalisation of reserves, profits or share premiums and partly from payment in cash. The latter…