(Authorisation for the Board of Directors to reduce the share capital by cancelling shares)
The Annual General Meeting, acting in accordance with the quorum and majority requirements applicable to Extraordinary General Meetings, having reviewed the special report of the Statutory Auditors, authorises the Board of Directors, pursuant to the provisions of article L.225-209 of the French Commercial Code, to cancel, on one or more occasions, subject to a limit of 10% of the total number of shares comprising the share capital existing on the date of the transaction, in each 24-month period, all or some of the shares that BNP Paribas holds or could come to hold, to reduce the share capital accordingly and to allocate the difference between the purchase value of the cancelled shares and their nominal value to additional paid-in capital and available reserves, including the allocation of 10% of the cancelled share capital to the legal reserve.
The Annual General Meeting vests every authority in the Board of Directors, with the option of delegating such authority in the conditions laid down by law, to act on this authorisation, to complete any acts, formalities and declarations, including amendments to the Articles of association, and in general to do whatever it deems necessary.
This authorisation supersedes and replaces that granted by Resolution14 of the Annual General Meeting of 14 May 2014 and is valid for a period of 18 months from the date of this meeting.
Presentation of the resolution
The nineteenth resolution requests that, for a period of 18 months, the Meeting authorizes the Board to cancel, through a reduction of share capital, all or part of the shares held by the company or acquired through the authorisation given by the Ordinary General Meeting, up to the limit of 10% of the existing capital on the date of the transaction, over a 24 month period. This authorisation would render null and void, for the amounts not used, any previous similar authorisation.