Chapter III: Legal structures

The organisation of the management and the determination of the powers of the Executive Chairmen are set out in the Articles of Association in accordance with the conditions set out inarticle 11 of law no. 66-879 of 29 November 1966 relating to professional non-trading companies.

The General Meeting is held at least once a year. It may also be convened at the request of one or more shareholders representing at least one third of the total number of shareholders or one third of the share capital. The request must indicate the proposed agenda. The procedure for convening the meeting is set out in the Articles of Association.

Minutes are drawn up of all deliberations of the General Meeting, signed by the shareholders present and containing, in particular: the date and place of the meeting, the items on the agenda, the identity of the shareholders present or represented, a summary of the discussions, the text of the resolutions put to the vote and the results of the votes. The minutes are recorded in a special register, which has…

Each shareholder has one vote. A shareholder may give a written mandate to another shareholder to represent him at the meeting. No member may hold more than two proxies. The General Meeting may only validly deliberate if at least three quarters of the shareholders are present or represented. If the quorum is not reached, the shareholders are convened once again and the meeting may validly deliberate if at least two…