APC 2002 Annual Report Download - page 36

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35
d) Disclosure thresholds (article 7 of the bylaws)
In addition to the legal disclosure thresholds, the bylaws
stipulate that any individual or legal entity that owns or controls
(as these terms are defined in article L 233-9 of the
Commercial Code) directly or indirectly, shares or voting rights
representing at least 0.5% of the total number of shares
or voting rights outstanding, or a multiple thereof, is required
to disclose said interest to the Company by registered letter
with return receipt requested, within five trading days of
the disclosure threshold being crossed.
In the case of failure to comply with these disclosure
obligations, the shares in excess of the disclosure threshold
will be stripped of voting rights at the request of one or several
shareholders owning at least 2.5% of the Company’s capital,
subject to compliance with the relevant provisions of the law.
These disclosure thresholds were approved by the
combined Annual and Extraordinary Shareholders’ Meetings
of June 27, 1995 and May 5, 2000.
e) Identifiable holders of bearer shares
(article 7.3 of the bylaws)
As approved by the combined Annual and Extraordinary
Shareholders’ Meetings of June 30, 1988 and May 5, 2000,
the Company may at any time request that Euroclear identify
holders of bearer shares carrying voting rights either
immediately or in the future.