Loreal 2011 Annual Report Download - page 210

208 REGISTRATION DOCUMENT − L’ORÉAL 2011
7Stock market information andsharecapital
Information concerning thesharecapital
The number of shares eligible for these preferential dividends
may not exceed 0.5% of the share capital at the closing date
of the past financial year, for the same shareholder.
B. The losses (if any) shall be charged to the retained earnings
from preceding fiscal years or to the reserve funds, and the
balance shall be booked into a special ‘carry forward’
account.”
7.1.11. Annual General Meetings
Annual General Meetings are governed by all the legal provisions
and regulations laid down in this connection.
Since the Annual General Meeting of April29th, 2004, double
voting rights have been eliminated.
7.1.12. Statutory share ownership
threshold
“Any holder, whether direct or indirect, of a fraction of the
Company’s share capital equal to 1%, or a multiple of this
percentage lower than 5%, is required to inform the Company
within a period of fifteen days in the event that these thresholds
have been passed in either direction” (Article7, paragraph2
of the Articles of Association). This provision of the Articles of
Association supplements the legal requirements covering
disclosures concerning the crossing, upwards or downwards, of
thresholds relating to one-twentieth, one-tenth, three-twentieths,
one-fifth, one-quarter, three-tenths, one-third, one-half, two-thirds,
eighteen-twentieths or nineteen-twentieths of share capital or of
voting rights (ArticleL.233-7 of the French Commercial Code).
“If not disclosed in accordance with the conditions stipulated by
law or by the Articles of association, shares exceeding the fraction
which should have been disclosed are deprived of voting rights
at Shareholders’ Meetings, in accordance with the conditions
stipulated in the French Commercial Code, if during a meeting
the failure to disclose is noted, and if one or more shareholders
together holding at least 5% of the share capital so request during
the meeting” (Article7, paragraph3 of the Articles of Association).
See also the complete text of the Company’s Articles of
Association on the www.loreal-finance.com internet site.
7.2. Information concerning thesharecapital
7.2.1. Statutory requirements
governing changes in
the share capital and
shareholders’ rights
None.
7.2.2. Issued share capital and
authorised unissued share
capital
The share capital amounts to €120,596,816.40 as of December31st,
2011. It is divided into 602,984,082shares with a par value of
€0.20each, all of the same class and ranking pari passu .