Ubisoft 2001 Annual Report Download - page 99

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FINANCIAL REPORT
Resolutions
99
The increase in the share capital of the Company resulting
from the exercise of subscription options shall be deemed to
have been duly effected on the sole basis of the declaration
of exercise of the option, accompanied by the subscription
form and payment of the applicable amount either in cash or
by offset against debts due.
All necessary powers are hereby granted to the Board of
Directors for the performance of the required formalities
and to make the corresponding amendments to the Article
in the Bylaws specifying the amount of the Company's share
capital.
ELEVENTH RESOLUTION
(Empowerment of the Board of Directors to reduce the
share capital of the Company by the cancellation of stock)
The General Meeting, having taken note of the report of the
Board of Directors and the special report of the Statutory
Auditors, hereby authorizes the Board of Directors:
■to cancel shares acquired under the authorization given
to it under the sixth resolution on the agenda for the
ordinary business of the Meeting, up to a limit equal to
10% of the total share capital in any period of twenty-
four months, and to make corresponding reductions in
the share capital by charging to available premiums and
reserve funds the difference between the redemption
value of the cancelled stock and its nominal value;
■ to make such reductions, to place on record reductions
in share capital entailed by cancellations of stock autho-
rized by the present resolution, to make corresponding
amendments to the Bylaws and, more generally, to
carry out all and any necessary formalities.
The present authorization is hereby given for a maximum
period of eighteen months.
TWELFTH RESOLUTION
(Ratification of the amendment made to Article 2 of the
Bylaws regarding the principal place of business, following
its relocation as determined by the Board of Directors at its
meeting on January 2, 2002)
The General Meeting hereby ratifies the amendment made
to Article 2 of the Bylaws regarding the principal place of
business, following its relocation as determined by the Board
of Directors at its meeting on January 2, 2002.
THIRTEENTH RESOLUTION
(Vesting of powers for legal formalities)
The General Meeting hereby vests all necessary powers in
the bearer of a copy or extract of the minutes of the present
General Meeting for the purpose of carrying out all and any
filings or other formalities required by law.