Article 422-226 into force since 22 February 2019

I. The future shareholder shall be provided, prior to subscription, with the offering document approved by the AMF, the subscription form and the articles of association on a durable medium as defined in Article 314-5.

The annual report, the six-monthly newsletters and the circulars shall be provided to the shareholders and future shareholders on a durable medium as defined in Article 314-5 or made available to them on a website.

A hardcopy version of the documents specified in this section I article shall be supplied free of charge to any investor who so requests.

II. - The management company shall provide the AMF with all the documents intended for the partners immediately.

It shall provide the AMF, under the conditions defined by the latter, with the following:

1. Half-yearly statistics in the month following the end of that half-year;

2. Prior to 15 May of each year, the market value and replacement value for the real estate investment company, which must be subject to ratification by the shareholders;

3. Any changes in these values over the year after their approval by the supervisory board, along with proof of the change in value.