Perfection of Pledging Share Options Article 268 Pledging Share Options may not be perfected against the Stock Company and other third parties unless the names and addresses of pledgees are stated or recorded in the share option register.
Notwithstanding the provisions of the preceding paragraph, a pledgee of share options for which certificates are issued may not assert the pledge against the Stock Company and other third parties unless the pledgee is in continuous possession of the share option certificates representing the share options for which certificates are issued.
Notwithstanding the provisions of paragraph (1), a pledgee of Share Options attached to a Bond with Share Options for which a certificate is issued may not assert the pledge against the Stock Company and other third parties unless the pledgee is in continuous possession of the certificate representing the Bond with Share Options for such a Bond with Share Options for which a certificate is issued.