Shares purchased in the name of the company pursuant to Article 253 of this Law shall be jointly owned by all the shareholders in proportion to the number of shares owned by each of them. Such shares shall not be counted in determining the quorum required for convening the shareholders’ meeting or for adoption of its resolutions, nor shall such shares be considered in the distribution of dividends or the assets of the company, and if such shares are sold, the proceeds of their sale shall be paid to the company and shall be added to its reserve.
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