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Provisions in the Company’s Articles of Association governing the appropriation of profit

Article 26 of the Company’s Articles of Association reads as follows:

  • Distribution of profit pursuant to the provisions of this article shall be made after approval of the financial statements disclosing that such distribution is permitted.

  • The profit shall be at the disposal of the General Meeting of Shareholders.

  • The Company may make distributions to the shareholders and other persons entitled to distributable profits only to the extent that its capital and reserves exceed the sum of the issued capital and the reserves that must be maintained by law.

  • A deficit may only be offset against the statutory reserves to the extent permitted by law.