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Article L228-98 of the French Commercial code

As from the date of issue of securities giving access to the capital, the company called upon to allot these securities may not change its form or purpose, unless authorised to do so by the contract of issue or under the conditions provided for in Article L. 228-103. In addition, it may not change the rules governing the allocation of its profits, nor amortise its capital, nor create preference shares…

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Article L228-99 of the French Commercial code

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…

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Article L228-101 of the French Commercial code

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…

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Article L228-102 of the French Commercial code

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.

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Article L228-103 of the French Commercial code

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…

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Article L228-105 of the French Commercial code

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…

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Article L228-106 of the French Commercial code

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…

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