Article 459 — Payment of New Shares by Set Off

1/ New cash shares issued to increase the capital of a company may be used to pay off the current liquid debts of the company at the date the subscription list opens. 2/ An account showing the shares have been paid for by settlement of the debt shall be drawn up by the directors and certified as correct by the Auditors; The Auditors shall prepare a report showing the value of the debt so settled.