Article 316 — Duty of Loyalty

1/ Directors shall act in the way they consider, in good faith, would be most likely to promote the success of the company; they shall act for the benefit of shareholders of the company as a whole. 2/ In the discharge of the duty under Sub-Article (1) of this Article, a director shall have regard to the long- term interests of the company, the interests of the company’s employees, the interest of company’s creditors and the impact of the company’s operations on the community and the environment.