Article 278 — Classes of Shares

1/ Without prejudice to any restrictions stipulated by other laws, the memorandum of association or an amendment thereto may provide for the setting-up of classes of shares with different rights. 2/ All shares of the same class shall have the same par value and confer the same rights on shareholders. 3/ A change in the rights conferred to a class of shares may be made only with the approval of a special meeting of the class of shareholders held under the same conditions as the extraordinary general meeting having recommended the change.