Article 406 — Quorum and Majority in Special Meetings

1/ The quorum of the meeting for a special meeting shall be of shares carrying voting rights: a) at a first meeting, not less than one half of the capital of the company represented by the class concerned; b) at a second meeting, not less than one third of the capital of the company represented by the class concerned; c) at a third meeting, not less than one quarter of the capital of the company represented by the class concerned; Shareholders may be represented by proxies. 2/ The provisions of Sub-Article (1) of Article 402 of this Code dealing with majority as regards extraordinary meeting shall apply to special meetings. [[[[