(1) A company shall notify the holders of preemptive rights of the classes and number of shares subject to such preemptive rights and that their rights shall be forfeited if they fail to apply for subscription to new shares on or before a fixed date. In such cases, if the matters set forth in subparagraphs 5 and 6 of Article 416 have been determined, the details thereof shall also be notified.
(2) A notice under paragraph (1) shall be given at least two weeks before the date set forth in paragraph (1). <Amended by Act No. 12591, May 20, 2014>
(3) In cases where a holder of preemptive rights fails to apply for subscription to new shares on or before the specified date after a notice under paragraph (1) is given, his/her rights shall be forfeited. <Amended by Act No. 12591, May 20, 2014>[This Article Wholly Amended by Act No. 3724, Apr. 10, 1984]