DEXIA SA auch am Arsch?

Darüber soll abgestimmt werden:

<This first proposed resolution aims at authorising the Board of Directors to proceed with a reverse stock
split of the Class A and B shares of the company in order to reduce the total number of shares of the
company. It is proposed to grant this authorisation for a period of one year expiring at the end of the
general ordinary shareholders’ meeting of 2016. This would enable the Board of Directors to determine
the adequate timing to implement the reverse stock split. The Board of Directors will also determine the
appropriate consolidation ratio, which cannot exceed 1 new share for 1,000 existing shares.
The total number of shares is currently very high. It amounts to 1,948,984,474 shares of Class A and
28,947,368,421 shares of Class B, each share representing 1/30,896,352,895 part of the share capital of
the company. On the date of finalization of the invitation (on March 31, 2015), the stock price per share
was EUR 0.08 and the average stock price during the last six months was EUR 0.03. This operation is
justified by the intention to simplify and rationalize the number of shares of the company and the fees and
formalities associated with this number of shares, in the corporate interest of the company and of its
stakeholders.
The increase of the value per share which should result from this reverse stock split operation should
indeed allow to restore a more appropriate proportional relationship between the price of the share and
the lump sum fees that are being applied by financial institutions for the holding, managing, transfer and
sale of shares. The reverse stock split operation could also have a positive impact on the volatility of the