Article 275 — Purchase by the Company of its Own Shares

1/ A company may acquire its own shares from shareholders where: a) the acquisition has been authorized by a meeting of the shareholders; b) the purchase price is made from the net profits of the company; c) the shares are fully paid to the company. 2/ The directors may not dispose of shares thus purchased from shareholders. The voting rights on such shares shall be suspended. 3/ The provisions of Sub-Article (1) of this Article shall not apply where the purchase has been decided by an extraordinary general meeting to reduce the capital of the company. 4/ The provisions of Sub-Article (1) (a) and (c) of this Article shall apply where a company receives its own shares in pledge from its shareholders.