Article 176 of Companies Law

Founders' shares may not be created. By a resolution issued by the extraordinary general assembly, profit shares may be created in consideration of amounts provided without interest to the company after its incorporation. The owner of a profit share shall not be a partner in the company and shall not enjoy any of the rights of shareholders during the company's existence or upon its liquidation, except for the profit share allocated to that owner. The resolutions of the company's ordinary general assembly concerning the annual profit and loss accounts shall apply to that owner. The Executive Regulations shall specify the manner of trading and cancelling these shares. Chapter Six Rights and Obligations of Shareholders