(1) The notice defined in section 267 is to instruct stockholders to collect the shares of stock to which they are entitled. In this context, it is to be indicated that the company is entitled to dispose of, for the account of the parties involved, any shares of stock that have not been collected, in spite of three reminders warning of the consequences having been sent, within six months of notice of the instructions has been given in the publications of record. This indication need not be included in the notice of the instructions published in the publications of record.
(2) Once six months have lapsed since notice of the instructions has been given in the publications of record, the company in its new legal form is to issue a reminder warning that it will dispose of any shares of stock that have not been collected. Notice of this reminder warning of the consequences is to be given in the publications of record three times at intervals of at least one month. The last such notice must be published before one year has lapsed since notice of the instructions was given by publication.
(3) Once six months have lapsed since the last notice by publication of the reminder warning of the consequences, the company is to dispose of the shares of stock that have not been collected, doing so for the account of the parties involved, at the stock exchange price officially quoted and by arrangement of an official stockbroker; should no stock exchange price exist, the shares of stock will be sold at public auction. Section 226 (3) sentences 2 to 6 of the Stock Corporation Act is to be applied accordingly.