shareholder may at any time request the Company to confirm the number of
registered shares owned by the respective shareholder. The shareholders are not
entitled, however, to demand the printing and delivery of certificates
contrast, the Company may at any time print and deliver certificates
representing shares and, with the consent of the owner of issued certificates,
cancel issued share certificates upon their return to the Company. Certificates
for multiple shares may be exchanged at any time for smaller portions or
individual share certificates.
shares not represented by a certificate may only be transferred by way of
assignment including all rights connected with the transferred shares. To be
valid, the assignment must be notified to the Company. Registered shares not
represented by a certificate which a bank has been instructed by the shareholder
to hold may only be transferred with the cooperation of that bank.
shares not represented by a certificate may only be pledged to the bank which
handles the book entries of such shares for the shareholder, and only based on a
written pledge agreement. A notification of the Company is not