Time of Convocation

The notice of a general meeting must be served no earlier than two months and no later than one week before the general meeting takes place or before the last date for giving advance notice of participation, if the articles of association provide that a shareholder may participate in the general meeting subject to giving advance notice of participation to the company. The last date for advance notice of participation indicates the date when a shareholder at the latest shall notify his/her participation in the general meeting to the company. In companies that have entered into book-entry system the time of the convocation is counted from the general meeting record date of the general meeting [1.4.4 Book-Entry System]. In listed companies the notice shall be delivered at the earliest three months before the date referred to above.

When the general meeting handles demergers, mergers or liquidations, the notice shall be delivered at the latest one month before the meeting, the possible last registration date or the general meeting record date.The company that is undergoing a demerger or merger shall also register its demerger or merger plan before delivering the summons.

If a matter has been postponed to be handled at a continuation meeting, a new summons shall be delivered if the continuation meeting is to be held more than four weeks after the general meeting. Notwithstanding what may be provided in the articles of association on the time of convocation, the summons to a continuation meeting may always be delivered no later than four weeks before the meeting. If, under the articles of association, the validity of a resolution requires that it has been made in two general meetings, the summons of the later meeting shall not be delivered before the earlier meeting has been held. The resolution made at the earlier meeting shall be mentioned in the summons to the later meeting.