English
1/ Any shareholder holding shares representing ninety
percent or more of the capital of a company may
demand that minority shareholders have their shares
redeemed by that shareholder.
2/ The demand by the shareholder shall be made to the
pertinent shareholders under the rules governing
notice for general meetings and require them to
transfer their shares to the shareholder within five
weeks.
3/ The terms of redemption and the basis used for
determining the redemption price must be set out by
the shareholder in the request for redemption.
4/ An expert appointed by the court with jurisdiction over
the place where the company is registered will
determine the price in the event the minority
shareholder does not agree to the proposal under
Sub-Article
(2) of this Article 5 The costs pertaining to the price determination under
Sub-Article
(4) shall be defrayed by the shareholder
who requested such determination.
6/ Notwithstanding Sub-Article
(5) of this Article, where
the expert determines a redemption price that is
higher than that offered by the redeeming
shareholder, the court that appointed the expert may
order the redeeming shareholder to cover the costs in
whole or in particle.
7/ Where the number of shareholders of a company is
reduced below five due to the exercise of the right of
redemption by a shareholder under this Article, the
shareholder who has exercised such right shall see to
it that the number of shareholders of the company is
increased or the form of the business organization is
changed within not more than three months.
