Article 422-240 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 newsletter 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 it.

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

The management company provide the AMF, under the conditions set out in an instruction, with:

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

2. Before 15 May of each year, the market value and replacement value of the forestry investment company, which must be submitted for the partners' approval;

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