Ladies, gentlemen, dear shareholders, I declare the meeting open. Mr. Bernard Arnault, unable to attend, regrets that he cannot chair this meeting and has asked me to apologize on his behalf and in his absence, and in accordance with Article 23(1) of the bylaws, I shall therefore be chairing this meeting by virtue of a specific delegation granted to me by the board of directors to this effect. Thank you for your participation at this meeting via its transmission live on our company's website. At the date of convening of this general meeting, administrative measures enforce limiting or prohibiting travel and public gatherings, preventing, given the number of shareholders generally present at the physical meeting of members of the company's general meeting, which led our company to hold the general meeting today in closed session at its head office.
As a result, only Mr. Bernard Kuhn, as well as the two scrutineers, Mr. Sidney Toledano, representing Christian Dior, and Nicolas Bazire, representing Société Agache, are physically present at this meeting. No admission card has been issued, and you were invited to exercise your right to participate prior to the holding of this general meeting by giving your proxy to the chairman of the meeting or to a designated third party, or by voting by correspondence or postally via internet using the Votaccess Secure platform. This general meeting is being held without the physical presence of shareholders. It will not be possible for you during the meeting to ask questions or propose amendments to the single resolution on the agenda or new resolutions.
Therefore, in order to allow you to participate fully at this meeting, we have given you the possibility, in addition to your legal right to put questions in writing to the dedicated address for shareholders as of May 7th and up to yesterday noon. I can inform you that the company has received no question from its shareholders in accordance with the specific legal and regulatory provisions enforced. Société Christian Dior, represented by Mr. Sidney Toledano, and Société Agache, represented by Mr. Nicolas Bazier, have been appointed to act as scrutineers, and they have agreed. Mr. Bernard Kuhn, Secretary of the Board of Directors, has been designated to act as secretary to the meeting. Together, they comprise the bureau of the meeting. Now, this information was published on our website on the 17th of May 2021.
So that the ordinary general meeting may take valid decisions, we need a quorum of one-fifth of shares with voting rights. Given the exceptional conditions of this meeting that I recalled at the outset, the final quorum and the vote results were concluded yesterday at 3:00 P.M. when the secure platform Vote Access was closed to, which allows me to indicate that we do have a quorum. I can inform you that all the legal documents required for holding this meeting have been placed on the desk. As per law, the documents that must be made available to the general meeting were made available to shareholders at head office. During the 21 days that preceded the holding of this meeting, they were sent out to those who requested them.
The agenda of our meeting is the single resolution that is its object to be found in the convening brochure that you received and in the documents placed online on our website on the 7th of May last. I would therefore suggest that we dispense with reading these documents. I now give the floor to Mr. Bernard Kuhn to read the single resolution and the presentation of the voting results of this resolution.
Thank you, Antonio. I can confirm that we have a quorum and the meeting gathers 80.40% of shares with voting rights. Rather than reading in full the text of the resolution, that would be tedious for shareholders, I propose to summarize it. This single resolution concerns the authorization and powers to be granted to the board of directors to trade in the company's shares. The maximum purchase price will be of EUR 950 per share.
The number of shares acquired cannot exceed 10% of the share capital, and the purpose of purchases can only be those limited by applicable regulation. The authorization will be valid for 18 months. The resolution is adopted by 99.45% of the vote. Thank you. I'm very sorry that once again this general meeting has had to be held in closed session. I now adjourn the meeting and thank you for your attention.