French Commercial code
In forceWhen the General Meeting itself determines all the terms and conditions of the capital increase with cancellation of preferential subscription rights, the report referred to in Article R. 225-114 shall also indicate the impact of the proposed issue on the situation of holders of equity securities and securities giving access to the capital, in particular with regard to their share of shareholders' equity at the close of the last financial year. If the financial year-end is more than six months prior to the proposed transaction, this impact shall be assessed on the basis of an interim financial statement prepared using the same methods and in the same presentation as the last annual balance sheet. This information shall also be given taking into account all the securities issued that may give access to the capital.
The Statutory Auditor shall give his opinion on the proposal to waive preferential rights, on the choice of elements for calculating the issue price and on its amount, as well as on the impact of the issue on the situation of holders of equity securities and securities giving access to the capital assessed in relation to shareholders' equity. It shall verify and certify the fairness of the information taken from the company's accounts on which it gives this opinion.
