Article 398 — Quorum and Majority

1/ Where first called, ordinary general meetings shall be composed of that number of shareholders which represents either in person or by proxy voting shares representing at least one-quarter of the capital of the company. 2/ Quorum shall be calculated based on the amount of capital represented, and not by the number of shareholders; where the meeting is called in accordance with the law and the required amount of capital is represented, it may pass a resolution. 3/ When called for a second time, the meeting may be held and decisions made without regard to the number of voting shares represented. 4/ Decisions are taken by a simple majority of the capital represented at the meeting by shares carrying voting right; in the determination of majority vote, abstentions and blank ballots shall be disregarded.