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Home > General Shareholders Meeting > General meeting 28 May 2004 > Thirteenth resolution
Thirteenth resolution
Thirteenth resolution
(Issuance of shares to be paid up by capitalising income, retained earnings or additional paid-in capital)
The Extraordinary Meeting, having reviewed the report of the Board of Directors, gives the Board of Directors full powers to increase the Bank's capital on one or several occasions, by an aggregate amount of € 1 billion by issuing bonus shares and/or raising the par value of existing shares, to be paid up by capitalising income, retained earnings or additional paid-in capital.
Any rights to fractions of shares shall be non-transferable and the corresponding shares will be sold and the proceeds allocated among the holders of rights to fractions of shares within thirty days of the date on which the whole number of shares to which they are entitled are recorded in their share account.
The Extraordinary Meeting gives full powers to the Board of Directors and, by delegation, to the Chairman, subject to compliance with the law, to determine the dates and conditions of issuance of bonus shares, as well as the amounts of such issues, and to take all necessary measures to complete the issues, to carry out any and all formalities to effect the related capital increase or increases and to amend the Articles of Association accordingly.
This authorisation cancels and replaces the unused portion of any earlier authorisations to issue bonus shares or increase the par value of existing shares.
This authorisation is given for twenty-six months as provided for in the third paragraph of section L. 225-129-III of the Commercial Code.
Presentation of the resolution
In the thirteenth resolution, the Board of Directors is seeking an authorisation to increase the Bank's capital by an aggregate amount of € 1 billion by issuing bonus shares and/or raising the par value of existing shares, to be paid up by capitalising income, retained earnings or additional paid-in capital.
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