(Authorisation to be granted to the Board of Directors to reduce share capital by cancelling shares)
The Shareholders’ Meeting, acting under conditions of quorum and majority applicable to Extraordinary Shareholders’ Meetings, and after having read the Statutory Auditors’ special report, authorises the Board of Directors, in accordance with the provisions of Article L. 225-209 of the French Commercial Code, to cancel, on one or more occasions, up to 10% of the shares comprising the Company's share capital on the date of the operation, within a 24-month period, some or all of the shares that BNP Paribas holds or could hold, to reduce its share capital accordingly and charge the difference between the purchase price of the cancelled shares and their par value against available premiums and reserves, including the legal reserve up to a maximum of 10% of the cancelled capital.
The General Meeting grants all powers to the Board of Directors, which may further delegate as permitted by law, to implement this authorisation, carry out all actions, formalities and declarations, including amending the articles of association and generally, do all that is necessary for this purpose.
This authority replaces the one granted by the seventeenth resolution of the Shareholders’ Meeting of 11 May 2011 and is granted for a period of 18 months as from this Meeting.
Presentation of the resolution
In the twenty-first resolution, the Shareholders’ Meeting is asked to authorise the Board of Directors for a period of 18 months, to cancel, through a decrease in share capital, all or part of treasury shares held by your company or acquired under the authorisation granted by the Ordinary General Meeting, up to 10% of the existing capital on the date of the transaction, by periods of 24 months. This authorisation supersedes, up to the limit of unused portions, all previous authorisations of the same nature.