1. Shares of capital increase of the company shall be issued at a nominal value equivalent to that of the original shares. However, the company may, under a special resolution and based upon the approval by the SCA, decide: a. To add the value of a share premium to the nominal value of the share and determine its value, if the market value exceeds the nominal value of the share, while the share premium shall be added to the statutory reserve, even if it exceeds half of the capital. b. Grant and a share discount on the nominal value of the share and determine its value in the event that the market value is lower than the nominal value of the share. Against the share discount, a negative reserve in equity in the balance sheet shall be created and deducted from the future profits of the company before any dividends are approved. 2. The Board shall be provided with a report from an independent financial adviser approved by the SCA, in which it determines how to calculate the share premium or share discount.
Interpretation and application must be checked against the official text and current version.