Entry into force of the capital reduction

Upon the resolution having been registered or, if the redemption is subsequent to same, upon the redemption, the capital stock will have been reduced by the amount allocated to the redeemed shares of stock. Where the redemption is a mandatory redemption stipulated in the by-laws, the capital stock will have been reduced upon the mandatory redemption having been performed unless the general meeting adopts a resolution as to the capital reduction. The redemption requires an action to be taken by the company targeted at the permanent cancellation of the rights attaching to certain shares of stock.