The General Meeting (“GM”) is the principal governing body of a Simplified Stock Corporation (“S.A.S.”) and is constituted by the meeting of the Shareholders in the form established in the Bylaws.

Division of Duties: The GM is at least in charge of approving: (i) the appointment of all executives and employees of the Company (if not deferred to other corporate bodies), (ii) any dividend distribution, (iii) reserves (iv) legal actions against administrators (v) issuance of shares (vi) reorganizations, spinoffs, mergers and amendments to the Bylaws and (vii) any resolution required in the best interest of the Company.

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Unless otherwise provided in the Bylaws, the GM shall be entitled to perform all of the duties that any laws attribute to any other corporate bodies (including, when the Company has only one Shareholder, the legal representation of the Company)

Composition: The GM is composed by the Sole Shareholder or the Shareholders, as the case may be. The GM may take place either: (i) in person; or (ii) by simultaneous (e.g. teleconference) or successive (e.g. e-mail/fax conversation) electronic communication; or (iii) by written consent.

Appointment/Dismissal Competence: Not applicable.

Alternates: Not applicable.

NB! The processes for appointment and dismissal to the General Meeting are not described in more detail at the LCB site.