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INFORMATION ABOUT ANF
Reports and information for the Shareholders’ Meeting
Special report from the Statutory Auditors on the capital reduction by cancellation
of purchased shares
Ordinary and Extraordinary General Meeting of May 6, 2010 – 9th resolution
To the shareholders,
ANF
32, rue de Monceau
75008 Paris
Dear Shareholders,
In our capacity as the Statutory Auditors of ANF’s fi nancial statements, and in fulfi lment of the requirement under Article L. 225-209-7 of the
French Commercial Code in the event of a capital reduction by means of the cancellation of purchased shares, we have prepared this report
in order to inform you of our assessment of the grounds for, and terms of, the contemplated capital reduction.
We have taken all the due diligence we considered necessary with respect to the auditing standards of the Compagnie Nationale des
Commissaires aux Comptes (the national Statutory Auditors’ organisation) in order to perform our assignment. This due diligence led us to
investigate whether or not the grounds for, and terms of, the planned capital reduction were in order.
This transaction falls within the context of your Company’s purchase, up to a limit of 10% of its capital, of its own shares, under the terms
provided in Article L. 225-209 of the French Commercial Code. This purchase authorisation is to be submitted for approval by your Shareholders’
Meeting under the 9th resolution and is to be granted for a period of 24 months.
Your Executive Board asks you to invest it, with the option to sub-delegate, for a period of 24 months, by virtue of the implementation of the
authorisation given to your Company to purchase its own shares, with the power to cancel the shares thus purchased, up to a limit of 10% of
its capital, for each 24 month period.
We have no observations to make on the grounds for, and terms of, the contemplated capital reduction, on the understanding that such capital
reduction can only take place insofar as your Shareholders’ Meeting approves the transaction in advance for your Company to purchase its
own shares.
Neuilly-sur-Seine and Courbevoie, April 19, 2010
The Statutory Auditors
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PriceWaterHouseCoopers Audit Mazars
Gérard Hautefeuille Odile Coulaud
Contents
ANF • 2009 ANNUAL REPORT
115
OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS