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Article 23
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When the company conducts a cash capital increase it shall, in compliance with related laws and regulations, in addition to making available a certain percentage of shares for subscription by employees, make the remainder available for subscription by shareholders in respective proportion to their shareholding percentage. If the employees or shareholders do not fully subscribe the shares and waive their rights to the unsubscribed shares, the company may, through a single securities firm's crowdfunding platform, make the unsubscribed shares available for subscription by investors, or make them available for subscription by institutional angels only.
The provisions of the Financial Consumer Protection Act do not apply to institutional angels referred to in the preceding paragraph.
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