¹ The articles of association may stipulate that the right to vote is determined regardless of nominal value by the number of shares belonging to each shareholder, such that each share confers one vote.

² In this case, shares with a lower nominal value than other shares of the same company may be issued only as registered shares and must be fully paid up. The nominal value of these other shares must not exceed ten times the nominal value of the voting shares.⁴⁹⁴

³ The allocation of right to vote according to number of shares does not apply to:

1.

the election of external auditors;

2.

the appointment of experts to audit the company’s business management or parts thereof;

3.⁴⁹⁵

any resolution concerning the instigation of a special investigation;

4.⁴⁹⁶

any resolution concerning the raising of a liability action.⁴⁹⁷