Article 235-3 into force since 12 July 2012

In addition to the cases referred to in Article 234-9, the AMF may also grant a waiver from the obligation to file a draft public offer in the following cases:

1. Subscription to a reserved capital increase, subject to the approval of the general meeting of shareholders;

2. Exercise of the share allocation right attached to securities giving access to the share capital if the reserved issue of such securities has previously been subjected to the approval of the general meeting of shareholders.