(Authorisation to be granted to the Board of Directors for the purpose of reducing the capital through cancellation of shares)
The General Meeting, ruling under the conditions of quorum and majority provided for extraordinary general meetings, after taking cognizance of the Board of Directors’ report and the Auditors’ special report, authorises the Board of Directors, pursuant to Article L. 225-209 of the Commercial Code, to cancel, on one or more occasions, up to the limit of 10% of the total number of shares comprising the share capital existing on the date of the transaction, for each period of 24 months, all or part of the shares that BNP Paribas holds and might hold, to reduce the share capital accordingly and to charge the difference between the purchase value of the shares cancelled and their nominal value to the available premiums and reserves, including the legal reserve up to 10% of the capital cancelled.
The General Meeting grants all powers to the Board of Directors, with power of subdelegation under the legal conditions, to implement this authorisation, carry out all acts, formalities and declarations, including amending the Articles of Association and generally taking all necessary measures.
This authorisation supersedes the authorisation granted by the twenty-third resolution of the General Meeting of 21 May 2008 and is granted for a period of 18 months as from this Meeting.
Presentation of the resolution
In the fifteenth resolution, the General Meeting is being asked to authorise the Board, for a period of 18 months, to cancel, through a capital reduction, all or some of its treasury shares held by your company or acquired under the authority granted by the Ordinary General Meeting, up to a maximum of 10% of the capital in a 24-month period. This authority would make any prior authority of the same kind null and void for the unused amounts.