6 - Vicat

21ADDITIONAL INFORMATION21.2. Constitutional documents and by-lawsnumber of shares to deal with putting the requirednumber of shares together.Shares cannot be divided up with respect to theCompany.When a share is burdened with usufruct, the rightsand obligations of the beneficial owner and the bareowner are governed by the law.The rights and obligations attached to the share followthe ownership, no matter who acquires it.21.2.3.2. Voting rights (article 26 of the by-laws)Each member of the meeting has as many votes ashe has or represents shares.The voting rights attached to shares in capital orrights are proportionate to the share of the capitalthat they represent and each share confers a rightto one vote.However, voting rights double those conferred onbearer shares are allotted to all paid up shares forwhich a personal registration has been proved for atleast four years in the name of the same shareholder,at the end of the calendar year preceding the dateon which the meeting in question is held.In the event of a capital increase by incorporation ofreserves, profits or issue premiums, double votingrights will be conferred, as of their issue, on registeredshares allotted for free to a shareholder pursuantto old shares in respect of which he enjoysthis right.These double voting rights will automatically ceaseto be attached to any share having been convertedto a bearer share or on a transfer of title.Nonetheless, the transfer by inheritance, by liquidationof common property held by spouses or bygift inter vivos to the benefit of a spouse or a relationranking as entitled to inherit does not result inthe loss of acquired rights.The list of registered shares benefiting from doublevoting rights is maintained by the officers of theMeeting.In the event of property stripping of a share, thevoting right belongs to the bare owner exceptfor decisions concerning attribution of results, inwhich case the voting right is reserved to the beneficialowner.21.2.4. Procedures for modifying the rights of theshareholderssModification of rights attached to the shares is subjectto the legal regulations. The by-laws not stipulatingspecific provisions, only an Extraordinary GeneralMeeting is qualified to modify the rights of the shareholders,in accordance with the legal provisions.21.2.5. General Meetings21.2.5.1. Nature of General Meetings(article 23 of the by-laws)The General Meeting, regularly constituted, representsall the shareholders; its decisions taken in accordancewith the law and with the by-laws bind all shareholders.An annual Ordinary General Meeting must be held eachyear within six months of the end of the financial year;General Meetings, or Ordinary General Meetings heldextraordinarily, or Extraordinary General Meetings, canalso be held at any time of the year.21.2.5.2. Form and periods of notice(article 24 of the by-laws)Ordinary and Extraordinary General Meetings areconvened and conducted in accordance with conditionsset by law. Meetings take place on the dayand at the time and place indicated on the conveningnotice.21.2.5.3. Attendance and representation at Meetings(article 25 of the by-laws)Any shareholder may participate in the Meetings inperson or by proxy on proof of ownership of his/hershares in the form either of registration of registeredshares or the deposit of bearer shares the locationsidentified in the notice convening the Meeting; thisformality must be completed no later than three daysbefore the date of the Meeting.Participation in the Ordinary General Meetings is subjectto proof of ownership of at least one share.At its meeting on February 25, 2011, the Board ofDirectors decided to recommend to the CombinedGeneral Meeting of shareholders, on May 6, 2011, themodification of article 25 of the by-laws as follows:The first paragraph is modified as follows :“Any shareholder can attend, personally or througha representative, the Meetings by providing proof ofownership of their shares if it is proven by law and theregulations in force, for his shares to be registered inhis name or that of his registered representative, in2010 registration document VICAT 193