Commercial Companies Law

Commercial Companies Law — Article 253

If no notice of intent to purchase the shares which is compliant with the terms is received from any shareholder, or if the notices received are compliant with the terms, but they are in total less than the number of the shares offered for sale, the manager of the company may purchase such shares in the name of the company on the terms set forth in the notice of intent of disposal, unless he / she is prohibited by the Constitutive Documents or any resolution adopted by the shareholders’ meeting from the purchase of such shares, provided that the purchase price shall be paid out of the company’s share capital or from its legal reserve.

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