7. Changes of control and defense measures
7.1. Duty to make an offer
Kudelski SA has no provision on opting-out or opting-up in its Articles of Incorporation. This means that if a shareholder reaches the limit laid down by the law on stock markets (art. 32 LBVM: 33 1/3% of the voting rights), he must by virtue of this law submit a takeover bid.
7.2. Clauses on changes of control
No such clauses exist.