| 1. | NAME |
|----|------|

| 2. | STATUS |
|----|--------|

|   | The      liability of Shareholders of the Company is limited by    shares. |
|--------|----------------------------------------------------------------------------|

| 3. | REGISTERED      OFFICE AND REGISTERED AGENT |
|----|---------------------------------------------|

| 4. | CAPACITY      AND POWERS |
|----|--------------------------|

|   | a. | full      capacity to carry on or undertake any business or activity, do any act or      enter into anytransaction;  and |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | for      the purposes of paragraph (a), full rights, powers and      privileges. |
|--------|----|----------------------------------------------------------------------------------|

| 5. | NUMBER      AND CLASSES OF SHARES |
|----|-----------------------------------|

----

| 6. | RIGHTS      ATTACHING TO SHARES |
|----|---------------------------------|

|   | a. | the      right to one vote at a meeting of the Members or on any Resolution      of  Members; |
|--------|----|---------------------------------------------------------------------------------------------------------|

|   | b. | the      right to an equal share in any Distribution paid by the Company;      and |
|--------|----|------------------------------------------------------------------------------------|

|   | c. | the      right to an equal share in the distribution of the surplus assets of the      Company on a winding up. |
|--------|----|-----------------------------------------------------------------------------------------------------------------|

| 7. | VARIATION      OF CLASS RIGHTS |
|----|--------------------------------|

| 8. | RIGHTS      NOT VARIED BY THE ISSUE OF SHARES PARIPASSU |
|----|---------------------------------------------------------|

| 9. | REGISTERED      SHARES |
|----|------------------------|

| 10. | AMENDMENT      OF MEMORANDUM AND ARTICLES OFASSOCIATION |
|-----|---------------------------------------------------------|

----

| 11. | DEFINITIONS |
|-----|-------------|

| Incorporator                    |
|---------------------------------|
|                            |
| (Sgd      Jacinth Ward)         |
| Jacinth      Ward               |
| Authorised      signatory       |
| Equity      Trust (BVI) Limited |

----

----

| INTERPRETATION                          |                                                     |   |
|-----------------------------------------|----------------------------------------------------------|--------|
|                                    |                                                     |   |
| 1.                                      | Definitions                                              |   | 1 |
|                                    |                                                     |   |   |
| SHARES                                  |                                                     |   |
|                                    |                                                     |   |   |
| 2.                                      | Power      to Issue Shares                               |   | 5 |
| 3.                                      | Power      of the Company to Purchase its Shares         |   | 6 |
| 4.                                      | Treatment      of Purchased, Redeemed or Acquired Shares |   | 7 |
| 5.                                      | Treasury      Shares                                     |   | 7 |
| 6.                                      | Consideration                                            |   | 7 |
| 7.                                      | Forfeiture      of Shares                                |   | 8 |
| 8.                                      | Share      Certificates                                  |   | 9 |
| 9.                                      | Fractional      Shares                                   |   | 9 |
|                                    |                                                     |   |   |
| REGISTRATION      OF SHARES             |                                                     |   |
|                                    |                                                     |   |   |
| 10.                                     | Register      of Members                                 |   | 10 |
| 11.                                     | Registered      Holder Absolute Owner                    |   | 10 |
| 12.                                     | Transfer      of Registered Shares                       |   | 11 |
| 13.                                     | Transmission      of Registered Shares                   |   | 11 |
|                                    |                                                     |   |   |
| ALTERATION      OF SHARES               |                                                     |   |
|                                    |                                                     |   |   |
| 14.                                     | Power      to Alter Shares                               |   | 12 |
| 15.                                     | Restrictions      on the Division of Shares              |   | 13 |
|                                    |                                                     |   |   |
| DISTRIBUTIONS                           |                                                     |   |
|                                    |                                                     |   |   |
| 16.                                     | Distributions                                            |   | 13 |
| 17.                                     | Power      to Set Aside Profits                          |   | 13 |
| 18.                                     | Unauthorised      Distributions                          |   | 14 |
| 19.                                     | Distributions      to Join                               |   | 14 |
|                                    |                                                     |   |   |
| MEETINGS      OF MEMBERS                |                                                     |   |
|                                    |                                                     |   |   |
| 20.                                     | General      Meetings                                    |   | 14 |
| 21.                                     | Location                                                 |   | 14 |
| 22.                                     | Requisitioned      General Meetings                      |   | 14 |
| 23.                                     | Notice                                                   |   | 15 |
| 24.                                     | Giving      Notice                                       |   | 15 |
| 25.                                     | Service      of Notice                                   |   | 16 |
| 26.                                     | Participating      in Meetings                           |   | 17 |
| 27.                                     | Quorum      at General Meetings                          |   | 18 |
| 28.                                     | Chairman      to Preside                                 |   | 18 |
| 29.                                     | Voting      on Resolutions                               |   | 18 |
| 30.                                     | Power      to Demand a Vote on a Poll                    |   | 20 |
| 31.                                     | Voting      by Joint Holders of Shares                   |   | 21 |
| 32.                                     | Instrument      of Proxy                                 |   | 21 |
| 33.                                     | Representation      of Members                           |   | 22 |
| 34.                                     | Adjournment      of General Meetings                     |   | 22 |
| 35.                                     | Business      at Adjourned Meetings                      |   | 22 |
| 36.                                     | Directors      Attendance at General Meetings            |   | 23 |
|                                    |                                                     |   |   |
| DIRECTORS      AND OFFICERS             |                                                     |   |
|                                    |                                                     |   |   |
| 37.                                     | Election      of Directors                               |   | 23 |
| 38.                                     | Number      and Classes of Directors                     |   | 23 |
| 39.                                     | Term      of Office of Directors                         |   | 24 |
| 40.                                     | Alternate      and Reserve Directors                     |   | 24 |
| 41.                                     | Removal      of Directors                                |   | 25 |
| 42.                                     | Vacancy      in the Office of Director                   |   | 25 |
| 43.                                     | Remuneration      of Directors                           |   | 25 |
| 44.                                     | Resignation      of directors                            |   | 25 |
| 45.                                     | Directors      to Manage Business                        |   | 25 |
| 46.                                     | Board      Committees                                    |   | 26 |
| 47.                                     | Officers      and Agents                                 |   | 27 |
| 48.                                     | Removal      of Officers and Agents                      |   | 28 |
| 49.                                     | Duties      of Officers                                  |   | 28 |
| 50.                                     | Remuneration      of Officers                            |   | 28 |
| 51.                                     | Standard      of Care                                    |   | 28 |
| 52.                                     | Conflicts      of Interest                               |   | 28 |
| 53.                                     | Indemnification      and Exculpation                     |   | 29 |
|                                    |                                                     |   |   |
| MEETINGS      OF THE BOARD OF DIRECTORS |                                                     |   |
|                                    |                                                     |   |   |
| 54.                                     | Board      Meetings                                      |   | 30 |
| 55.                                     | Notice      of Board Meetings                            |   | 30 |
| 56.                                     | Participation      in Meetings by Telephone              |   | 31 |
| 57.                                     | Quorum      at Board Meetings                            |   | 31 |
| 58.                                     | Board      to Continue in the Event of Vacancy           |   | 31 |
| 59.                                     | Chairman      to Preside                                 |   | 31 |
|                                    |                                                     |   |   |
| CORPORATE      RECORDS                  |                                                     |   |
|                                    |                                                     |   |   |
| 60.                                     | Documents      to be Kept                                |   | 31 |
| 61.                                     | Form      and Use of Seal                                |   | 32 |
|                                    |                                                     |   |   |
| ACCOUNTS                                |                                                     |   |
|                                    |                                                     |   |   |
| 62.                                     | Books      of Account                                    |   | 33 |
| 63.                                     | Form      of Records                                     |   | 33 |
| 64.                                     | Financial      Statements                                |   | 33 |
| 65.                                     | Distribution      of Accounts                            |   | 33 |
|                                    |                                                     |   |   |
| AUDITS                                  |                                                     |   |
|                                    |                                                     |   |   |
| 66.                                     | Audit                                                    |   | 34 |
| 67.                                     | Appointment      of Auditor                              |   | 34 |
| 68.                                     | Duties      of Auditor                                   |   | 34 |
| 69.                                     | Access      to Records                                   |   | 35 |
| 70.                                     | Auditor      Entitled to Notice                          |   | 35 |
|                                    |                                                     |   |   |
| BUSINESS      COMBINATIONS              |                                                     |   |
|                                    |                                                     |   |   |
| 71.                                     | Business      Combinations                               |   | 35 |
|                                    |                                                     |   |   |
| FUNDAMENTAL      CHANGES                |                                                     |   |
|                                    |                                                     |   |   |
| 72.                                     | Changes                                                  |   | 41 |
| 73.                                     | Continuation      under Foreign Law                      |   | 41 |

----

| 1. | Definitions |
|----|-------------|

|   | 1.1 | In      these Articles, the following words and expressions shall, where not      inconsistent with the context, have the following meanings,      respectively: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Act | BVI      Business Companies Act, 2004, as from time to time amended or      restated. |
|--------|-----|---------------------------------------------------------------------------------------|

|   | Articles | these      Articles of Association as originally registered or as from time to time      amended or restated. |
|--------|----------|---------------------------------------------------------------------------------------------------------------|

|   | Board | the      board of directors appointed or elected pursuant to these Articles and      acting by resolution in accordance with the Act and these Articles or the      directors present at a meeting of directors at which there is a      quorum. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Company | Golden      Green Enterprises Limited. |
|--------|---------|----------------------------------------|

|   | Designated      Stock Exchange | the      Over the Counter Bulletin Board, or such other stock exchange upon which      the Securities of the Company are listed for, or admitted to, trading from      time to time. |
|--------|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Dollars      and $ | dollars,      the legal currency of the United States of  America. |
|--------|--------------------|--------------------------------------------------------------------|

|   | Exchange      Act | the      United States Securities Exchange Act of 1934, as  amended. |
|--------|-------------------|----------------------------------------------------------------------|

|   | Distribution | (a)  the      direct or indirect transfer of an asset, other than the Company’s own      shares, to or for the benefit of a Member;or |
|--------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b)      the incurring of a debt to or for the benefit of a  Member, |
|--------|----------------------------------------------------------------------|

|   | in      relation to shares held by a Member and whether by means of the purchase      of an asset, the purchase, redemption or other acquisition of shares, a      transfer of indebtedness or otherwise, and includes a      dividend. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Group | the      Company and every company which is for the time being controlled by or      under common control with the Company (for these purposes, “control” means      the power to direct management or policies of the person in question,      whether by means of an ownership interest or  otherwise). |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Member | a      person whose name is entered in the Register as the holder of one or more      shares, or fractional shares, in theCompany. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

|   | Memorandum | the      Memorandum of Association of the Company as originally registered or as      from time to time amended orrestated. |
|--------|------------|-----------------------------------------------------------------------------------------------------------------------------|

|                             Ordinary      Resolution of Members | a      resolution approved at a duly constituted meeting of Members by the      affirmative vote of a simple majority of the votes of those Members      entitled to vote and voting on theresolution. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Register | the      principal register and where applicable, any branch register of Members of      the Company to be maintained at such place within or outside the British      Virgin Islands as the Board shall determine from time to    time. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Resolution      of Directors | (a)  a      resolution approved at a duly constituted meeting of directors or of a      board committee of the Company by the affirmative vote of a simple      majority of the directors present who voted and did not abstain;      or |
|--------|------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b)      a resolution consented to in writing by all of the directors or of all the      members of the committee, as the case may be, provided that for this      paragraph (b) only, “director” shall not include an    alternate. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Resolution      of Members | a      Special Resolution of Members or an Ordinary Resolution of      Members. |
|--------|----------------------------|---------------------------------------------------------------------------------|

|   | Securities | shares      and debt obligations of every kind, and options, warrants and rights to      acquire shares, or debtobligations. |
|--------|------------|------------------------------------------------------------------------------------------------------------------------------|

|   | Seal | the      common seal of the Company. |
|--------|------|--------------------------------------|

|   | SEC | the      United States Securities and Exchange  Commission. |
|--------|-----|-------------------------------------------------------------|

|   | Secretary | the      person appointed to perform any or all of the duties of secretary of the      Company and includes any deputy or assistant secretary and any person      appointed by the Board to perform any of the duties of the      Secretary. |
|--------|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Special      Resolution of Members | a      resolution shall be a special resolution when it has been passed by a      majority of not less than two-thirds of votes cast by such Members as,      being entitled so to do, vote in person or, in the case of such Members as      are corporations, by their respective duly authorised representative or,      where proxies are allowed, by proxy at a general meeting of which not less      than ten (10) clear days’ Notice, specifying (without prejudice to the      power contained in these Articles to amend the same) the intention to      propose the resolution as a special resolution, has been duly      given.  Provided that, except in the case of an annual general      meeting, if it is so agreed by a majority in number of the Members having      the right to attend and vote at any such meeting, being a majority      together holding not less than ninety-five (95) per cent in nominal value      of the shares giving that right and in the case of an annual general      meeting, if it is so agreed by all Members entitled to attend and vote      thereat, a resolution may be proposed and passed as a special resolution      at a meeting of which less than ten (10) clear days’ Notice has been      given. |
|--------|------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a      special resolution shall be effective for any purpose for which an      ordinary resolution is expressed to be required under any provision of      these Articles or the Act. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Treasury      Share | a      share of the Company that was previously issued but was repurchased,      redeemed or otherwise acquired by the Company and not      cancelled. |
|--------|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2 | In      these Articles, where not inconsistent with the  context: |
|--------|-----|-------------------------------------------------------------------|

|   | (a) | words      denoting the plural number include the singular number and vice      versa; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (b) | words      denoting the masculine gender include the feminine and neuter      genders; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (c) | words      importing persons include companies, associations or bodies of persons      whether corporate or not; |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (d) | a      reference to voting in relation to shares shall be construed as a      reference to voting by Members holding the shares, except that it is the      votes allocated to the shares that shall be counted and not the number of      Members who actually voted and a reference to shares being present at a      meeting shall be given a corresponding  construction; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (e) | a      reference to money is unless otherwise stated a reference to the currency      in which shares of the Company shall beissued; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | the      words:- |
|--------|-----|------------------|

|   | (i) | "may"      shall be construed as permissive;and |
|--------|-----|-------------------------------------------------|

|   | (ii) | "shall"      shall be construed as imperative;and |
|--------|------|---------------------------------------------------|

|   | (g) | unless      otherwise provided herein, words or expressions defined in the Act shall      bear the same meaning in theseArticles. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3 | In      these Articles, expressions referring to writing or its cognates shall,      unless the contrary intention appears, include facsimile, printing,      lithography, photography, electronic mail and other modes of representing      words in visible form. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.4 | Headings      used in these Articles are for convenience only and are not to be used or      relied upon in the constructionhereof. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Power      to Issue Shares |
|----|----------------------------|

|   | 2.1 | Subject      to the provisions of the Memorandum, the Act and the rules of the      Designated Stock Exchange, the unissued shares of the Company shall be at      the disposal of the directors who may, without prejudice to any rights      previously conferred on the holders of any existing shares or class or      series of shares, offer, allot, grant options over or otherwise dispose of      the shares to such persons, at such times and upon such terms and      conditions as the Company may by Resolution of Directors      determine.  In particular and without prejudice to the      generality of the foregoing, the Directors are hereby empowered to      authorize by resolution or resolutions from time to time the issuance of      one or more classes or series of preferred shares and to fix the      designations, powers, preferences and relative, participating, optional      and other rights, if any, and the qualifications, limitations and      restrictions thereof, if any, including, without limitation, the number of      shares constituting each such class or series, dividend rights, conversion      rights, redemption privileges, voting powers, full or limited or no voting      powers, and liquidation preferences, and to increase or decrease the size      of any such class or series (but not below the number of shares of any      class or series of preferred shares then outstanding) to the extent      permitted by the Act.  Without limiting the generality of the      foregoing, the resolution or resolutions providing for the establishment      of any class or series of preferred shares may, to the extent permitted by      law, provide that such class or series shall be superior to, rank equally      with or be junior to the preferred shares of any other class or      series. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 2.2 | At      the discretion of the Board, whether or not in connection with the      issuance and sale of any shares or other securities of the Company, the      Company may issue securities, contracts, warrants or other instruments      evidencing any shares, option rights, securities having conversion or      option rights, or obligations on such terms, conditions and other      provisions as are fixed by the Board, including, without limiting the      generality of this authority, conditions that preclude or limit any person      or persons owning or offering to acquire a specified number or percentage      of the issued shares, option rights, securities having conversion or      option rights, or obligations of the Company or transferee of the person      or persons from exercising, converting, transferring or receiving the      shares, option rights, securities having conversion or option rights, or      obligations. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Power      of the Company to Purchase itsShares |
|----|-------------------------------------------------|

|   | 3.1 | The      Company may purchase, redeem or otherwise acquire and hold its own      shares. |
|--------|-----|------------------------------------------------------------------------------------------|

|   | 3.2 | The      directors may make an offer to purchase, redeem or otherwise acquire      shares issued by the Company if the offeris |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | an      offer to all Members that would, if accepted, leave the relative voting      and distribution rights of the Members unaffected and affords each Member      a reasonable opportunity to accept the offer;or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | an      offer to one or more Members which either (1) all Members have consented      to in writing or (2) is made pursuant to the provisions of Article      3.4. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.3 | The      Company may not purchase, redeem or otherwise acquire its own shares      without the consent of Members whose shares are to be purchased, redeemed      or otherwise acquired unless the Company is permitted by the Act or any      provision of the Memorandum or these Articles to purchase, redeem or      otherwise acquire the shares without their  consent. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4 | The      directors shall not make an offer under this Article 3 unless they have      passed a Resolution of Directors stating that, in their opinion (a) the      purchase, redemption or other acquisition is to the benefit of the      remaining Members and (b) that the terms of the offer and the      consideration offered for the shares are fair and reasonable to the      Company and to the remaining Members, and setting out the reasons for      their opinion. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.5 | The      Company may only offer to acquire shares if at the relevant time the      directors determine by Resolution of Directors that immediately after the      acquisition the value of the Company’s assets exceeds its liabilities and      the Company is able to pay its debts as they fall  due |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 3.6 | The      Company may purchase, redeem or otherwise acquire its shares at a price      lower than the fair value if permitted by, and then only in accordance      with, the terms of the Memorandum or Articles or a written agreement for      the subscription for the shares to be purchased, redeemed or otherwise      acquired. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Treatment      of Purchased, Redeemed or AcquiredShares |
|----|---------------------------------------------------------|

|   | 4.1 | Subject      to Paragraph 4.2, a share that the Company purchases, redeems or otherwise      acquires may be cancelled or held by the Company as a Treasury      Share. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.2 | The      Company may only hold a share that has been purchased, redeemed or      otherwise acquired as a Treasury Share if the number of shares purchased,      redeemed or otherwise acquired, when aggregated with shares of the same      class already held by the Company as Treasury Shares, does not exceed 50%      of the shares of that class previously issued by the Company, excluding      shares that have been cancelled. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Treasury      Shares |
|----|----------------------|

|   | 5.1 | Treasury      Shares may be transferred by the Company and the provisions of the Act,      the Memorandum and these Articles that apply to the issue of shares apply      to the transfer of Treasury Shares. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5.2 | All      the rights and obligations attaching to a Treasury Share are suspended and      shall not be exercised by or against the Company while it holds the share      as a Treasury Share. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Consideration |
|----|---------------|

|   | 6.1 | A      share may be issued for consideration in any form, including money, a      promissory note or other written obligation to contribute money or      property, real property, personal property (including goodwill and      know-how), services rendered or a contract for future      services. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.2 | No      share may be issued for a consideration other than money unless the      directors pass a resolutionstating: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      amount to be credited for the issue of the  share; |
|--------|-----|-------------------------------------------------------------|

|   | (b) | their      determination of the reasonable present cash value of the non-money      consideration for the issue; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | (c) | that,      in their opinion, the present cash value of the non-money consideration      for the issue is not less than the amount to be credited for the issue of      the share. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6.3 | No      share may be issued by the Companythat: |
|--------|-----|-------------------------------------------------|

|   | (a) | increases      the liability of a person to the Company;or |
|--------|-----|------------------------------------------------------------|

|   | (b) | imposes      a new liability on a person to the Company, unless that person, or an      authorised agent of that person, agrees in writing to becoming the holder      of the share. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 6.4 | Shares      in the Company may be issued for such amount of consideration as the Board      may from time to time determine, except that in the case of shares with      par value, the amount shall not be less than the par value, and in the      absence of fraud, the decision of the Board as to the value of the      consideration received by the Company in respect of the issue in      conclusive unless a question of law is involved.  The      consideration in respect of the shares constitutes capital to the extent      of the par value and the excess constitutes  surplus. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Forfeiture      of Shares |
|----|---------------------------|

|   | 7.1 | Where      a share is not fully paid for on issue, the directors may, subject to the      terms on which the share was issued, at any time serve upon the Member a      written notice of call specifying a date for payment to be      made. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.2 | The      written notice of call shall name a further date not earlier than the      expiration of fourteen days from the date of service of the notice on or      before which the payment required by the notice is to be made and shall      contain a statement that in the event of non-payment at or before the time      named in the notice, the share will be liable to be    forfeited. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.3 | Where      a notice complying with the foregoing provisions has been issued and the      requirements of the notice have not been complied with, the directors by      Resolution of Directors may, at any time before tender of payment forfeit      and cancel the share to which the notice  relates. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.4 | Upon      forfeiture and cancellation pursuant to Paragraph 7.3, the Company shall      be under no obligation to refund any moneys to that Member and that Member      shall be discharged from any further obligation to the Company as regards      the forfeited share. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.5 | The      Company shall have a first and paramount lien on every share issued for a      promissory note or for any other binding obligation to contribute money or      property or any combination thereof to the Company, and the Company shall      also have a first and paramount lien on every other share standing      registered in the name of a Member, whether singly or jointly with any      other person, for all such promissory notes or other binding obligations      of such Member or his estate to the Company, whether the same shall have      been incurred before or after notice to the Company of any interest of any      person other than such Member, and whether the time for the payment or      discharge of the same shall have actually arrived or not, and      notwithstanding that the same are joint debts or liabilities of such      Member or his estate and any other person, whether a Member of the Company      or not.  The Company's lien on a share shall extend to all      dividends payable thereon.  The directors may at any time either      generally, or in any particular case, waive any lien that has arisen or      declare any share to be wholly or in part exempt from the provisions of      this Article. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 7.6 | In      the absence of express provisions regarding sale in the promissory note or      other binding obligation to contribute money or property, the Company may      sell, in such manner as the directors may by Resolution of Directors      determine, any share on which the Company has a lien, but no sale shall be      made unless some sum in respect of which the lien exists is presently      payable nor until the expiration of twenty-one days after a notice in      writing, stating and demanding payment of the sum presently payable and      giving notice of the intention to sell in default of such payment, has      been served on the holder for the time being of the  share. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.7 | The      net proceeds of the sale by the Company of any shares on which it has a      lien shall be applied in or towards payment of discharge of the promissory      note or other binding obligation to contribute money or property or any      combination thereof in respect of which the lien exists so far as the same      is presently payable and any residue shall (subject to a like lien for      debts or liabilities not presently payable as existed upon the share prior      to the sale) be paid to the holder of the share immediately before such      sale.  For giving effect to any such sale the directors may      authorize some person to transfer the share sold to the purchaser      thereof.  The purchaser shall be registered as the holder of the      share and he shall not be bound to see to the application of the purchase      money, nor shall his title to the share be affected by any irregularity or      invalidity in the proceedings in reference to the  sale. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Share      Certificates |
|----|-------------------------|

|   | 8.1 | Every      Member shall be entitled to a certificate signed by a director or officer      of the Company specifying the share or shares held by him and the      signature of the director or officer may be  facsimile. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2 | Any      Member receiving a share certificate for registered shares shall indemnify      and hold the Company and its directors and officers harmless from any loss      or liability which it or they may incur by reason of wrongful or      fraudulent use or representation made by any person by virtue of the      possession thereof.  If a share certificate for registered      shares is worn out or lost it may be renewed on production of the worn out      certificate or on satisfactory proof of its loss together with such      indemnity as may be required by a Resolution of  Directors. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | Fractional      Shares |
|----|------------------------|

----

| 10. | Register      of Members |
|-----|--------------------------|

|   | 10.1 | The      directors shall cause there to be kept a Register in which there shall be      recorded the name and address of each Member, the number of each class and      series of shares held by each Member, the date on which the name of each      Member was entered in the Register and the date upon which any person      ceased to be a Member. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.2 | The      Register may be in such form as the directors may approve, but if it is in      magnetic, electronic or other data storage form, the Company must be able      to produce legible evidence of its contents.  Unless the      directors otherwise determine, the magnetic, electronic or other data      storage form shall be the originalRegister. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.3 | The      Company may keep an overseas or local or other branch Register resident in      any place (in accordance with the laws applicable to maintaining such an      overseas or local or other branch Register in such place), and the Board      may make and vary such regulations as it determines in respect of the      keeping of any such register and maintaining a Registration Office in      connection therewith. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4 | The      Register including any overseas or local or other branch Register may,      after notice has been given by advertisement in an appointed newspaper or      any other newspapers in accordance with the requirements of the Designated      Stock Exchange or by any electronic means in such manner as may be      accepted by the Designated Stock Exchange to that effect, be closed at      such times or for such periods not exceeding in the whole thirty (30) days      in each year as the Board may determine and either generally or in respect      of any class of shares. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | Registered      Holder Absolute Owner |
|-----|---------------------------------------|

|   | 11.1 | The      entry of the name of a person in the Register as a holder of a share in      the Company is prima      facie evidence that legal title in the share vests in that      person. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2 | The      Company may treat the holder of a registered share as the only person      entitled to: |
|--------|------|--------------------------------------------------------------------------------------------------|

|   | (a) | exercise      any voting rights attaching to theshare; |
|--------|-----|--------------------------------------------------------|

|   | (b) | receive      notices; |
|--------|-----|-----------------------|

|   | (c) | receive      a distribution in respect of the share;and |
|--------|-----|---------------------------------------------------------|

|   | (d) | exercise      other rights and powers attaching to theshare. |
|--------|-----|--------------------------------------------------------------|

----

| 12. | Transfer      of Registered Shares |
|-----|------------------------------------|

|   | 12.1 | Registered      shares in the Company shall be transferred by a written instrument of      transfer signed by the transferor and containing the name and address of      the transferee.  Shares may be transferred without a written      instrument if transferred in accordance with the  Act. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.2 | The      instrument of transfer shall also be signed by the transferee if      registration as a holder of the share imposes a liability to the Company      on the transferee. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3 | The      instrument of transfer shall be sent to the Company for      registration. |
|--------|------|-------------------------------------------------------------------------------------|

|   | 12.4 | The      Company shall, on receipt of an instrument of transfer, enter the name and      address of the transferee of the share in the Register unless the      directors resolve to refuse or delay the registration of the transfer for      reasons that shall be specified in the  resolution. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.5 | The      directors are permitted to pass a Resolution of Directors refusing or      delaying the registration of a transfer where they reasonably determine      that it is in the best interest of the Company to do      so.  Without limiting the generality of the foregoing, the      directors may refuse or delay the registration of a transfer of shares if      the transferor has failed to pay an amount due in respect of those      shares. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.6 | Where      the directors pass a resolution to refuse or delay the registration of a      transfer, the Company shall, as soon as practicable, send the transferor      and the transferee a notice of the refusal or  delay. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.7 | The      transfer of a share is effective when the name of the transferee is      entered in the Register and the Company shall not be required to treat a      transferee of a share in the Company as a Member until the transferee’s      name has been entered in theRegister. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.8 | If      the directors are satisfied that an instrument of transfer has been signed      but that the instrument has been lost or destroyed, they may      resolve: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to      accept such evidence of the transfer of the shares as they consider      appropriate; and |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (b) | that      the transferee’s name should be entered in the  Register. |
|--------|-----|---------------------------------------------------------------------------|

| 13. | Transmission      of Registered Shares |
|-----|----------------------------------------|

|   | 13.1 | The      personal representative of a deceased Member, the guardian of an      incompetent Member or the trustee of a bankrupt Member shall be the only      person recognised by the Company as having any title to the Member’s      share. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 13.2 | Any      person becoming entitled by operation of law or otherwise to a share in      consequence of the death, incompetence or bankruptcy of any Member may be      registered as a Member upon such evidence being produced as may reasonably      be required by the directors.  An application by any such person      to be registered as a Member shall for all purposes be deemed to be a      transfer of the share of the deceased, incompetent or bankrupt Member and      the directors shall treat it assuch. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 13.3 | Any      person who has become entitled to a share or shares in consequence of the      death, incompetence or bankruptcy of any Member may, instead of being      registered himself, request in writing that some person to be named by him      be registered as the transferee of such share and such request shall      likewise be treated as if it were atransfer. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 13.4 | What      amounts to incompetence on the part of a person is a matter to be      determined by the court having regard to all the relevant evidence and the      circumstances of the case. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 13.5 | The      production to the Company of any document which is evidence of probate of      the will, or letters of administration of the estate, or confirmation as      executor, of a deceased Member or of the appointment of a guardian of an      incompetent Member or the trustee of a bankrupt Member shall be accepted      by the Company even if the deceased, incompetent or bankrupt Member is      domiciled outside the British Virgin Islands if the document evidencing      the grant of probate or letters of administration, confirmation as      executed appointment as guardian or trustee in bankruptcy is issued by a      foreign court which had competent jurisdiction in the      matter.  For the purpose of establishing whether or not a      foreign court had competent jurisdiction in such a matter the directors      may obtain appropriate legal advice.  The directors may also      require an indemnity to be given by the executor, administrator, guardian      or trustee in bankruptcy. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14. | Power      to Alter Shares |
|-----|----------------------------|

|   | 14.1 | Subject      to the Memorandum and these Articles, the Company  may: |
|--------|------|----------------------------------------------------------------------|

|   | (a) | divide      its shares, including issued shares, into a larger number of shares;      or |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (b) | combine      its shares, including issued shares, into a smaller number of      shares; |
|--------|-----|-----------------------------------------------------------------------------------------|

----

|   | 14.2 | A      division or combination of shares, including issued shares, of a class or      series shall be for a larger or smaller number, as the case may be, of      shares in the same class or series. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15. | Restrictions      on the Division of Shares |
|-----|---------------------------------------------|

| 16. | Distributions |
|-----|---------------|

|   | 16.1 | The      directors may, by Resolution of Directors, authorise a Distribution by the      Company to Members at such time and of such an amount as they think fit if      they are satisfied, on reasonable grounds, that immediately after the      Distribution, the value of the Company’s assets exceeds its liabilities      and the Company is able to pay its debts as they fall due.  The      resolution shall include a statement to that  effect. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.2 | Notice      of any Distribution that may have been authorised shall be given to each      Member entitled to the Distribution in the manner provided in Article      24. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.3 | No      Distribution shall bear interest as against the  Company. |
|--------|------|-------------------------------------------------------------------|

|   | 16.4 | Any      distribution payable in respect of a share which has remained unclaimed      for three years from the date when it became due for payment shall, if the      Board so resolves, be forfeited and cease to remain owing by the      Company.  The payment of any unclaimed distribution may (but      need not) be paid by the Company into an account separate from the      Company’s own account.  Such payment shall not constitute the      Company a trustee in respectthereof. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 16.5 | The      Company shall be entitled to cease sending distributions by post or      otherwise to a Member if those instruments have been returned undelivered      to, or left uncashed by, that Member on at least two consecutive      occasions, or, following one such occasion reasonable enquiries have      failed to establish the Member’s new address.  The entitlement      conferred on the Company by this Article in respect of any Member shall      cease if the Member claims a distribution or cashes a cheque or      warrant. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17. | Power      to Set Aside Profits |
|-----|---------------------------------|

----

| 18. | Unauthorised      Distributions |
|-----|---------------------------------|

|   | 18.1 | If,      after a Distribution is authorised and before it is made, the directors      cease to be satisfied on reasonable grounds that immediately after the      Distribution the value of the Company’s assets exceeds its liabilities and      the Company is able to pay its debts as they fall due, such Distribution      is deemed not to have beenauthorised. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 18.2 | A      Distribution made to a Member at a time when, immediately after the      Distribution, the value of the Company’s assets did not exceed its      liabilities and the Company was not able to pay its debts as they fell      due, is subject to recovery in accordance with the provisions of the      Act. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19. | Distributions      to Join |
|-----|----------------------------|

| 20. | General      Meetings |
|-----|-----------------------|

|   | 20.1 | A      meeting of Members for the election of directors and for the transaction      of such other business as may properly come before the meeting shall be      held at least once in every calendar year on such date and at such times      and in such manner as the directors consider  desirable. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 20.2 | The      directors, by Resolution of Directors, may convene such other meetings of      Members at such times and in such manner as the directors consider      necessary or desirable. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21. | Location |
|-----|----------|

| 22. | Requisitioned      General Meetings |
|-----|-------------------------------------|

----

| 23. | Notice |
|-----|--------|

|   | 23.1 | The      directors shall give not less than 10 days and not more than 60 days prior      written notice of meetings of Members to those persons whose names on the      date the notice is given appear as Members in the Register of the Company      and are entitled to vote at themeeting. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.2 | The      directors may fix the date notice is given of a meeting, or such other      date as may be specified in the notice, as the record date for determining      those members that are entitled to vote at the meeting, provided any such      date shall not be more than 60 days nor less than 10 days before the date      of such meeting. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.3 | The      notice shall include the purpose or purposes of the meeting, the place,      date and hour of the meeting and, unless it is an annual meeting, shall      indicate that the notice is being issued by or at the direction of the      person calling the meeting. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 23.4 | The      inadvertent failure of the directors to give notice of a meeting to a      Member, or the fact that a Member has not received notice, does not      invalidate the meeting. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24. | Giving      Notice |
|-----|--------------------|

|   | 24.1 | Any      Notice or document (including any “corporate communication” within the      meaning ascribed thereto under the rules of the Designated Stock      Exchange), whether or not, to be given or issued under these Articles from      the Company to a Member shall be in writing or by cable, telex or      facsimile transmission message or other form of electronic transmission or      communication and any such Notice and document may be served or delivered      by the Company on or to any Member either personally or by sending it      through the post in a prepaid envelope addressed to such Member at his      registered address as appearing in the Register or at any other address      supplied by him to the Company for the purpose or, as the case may be, by      transmitting it to any such address or transmitting it to any telex or      facsimile transmission number or electronic number or address or website      supplied by him to the Company for the giving of Notice to him or which      the person transmitting the notice reasonably and bona fide believes at      the relevant time will result in the Notice being duly received by the      Member or may also be served by advertisement in appropriate newspapers in      accordance with the requirements of the Designated Stock Exchange or, to      the extent permitted by the applicable laws, by placing it on the      Company’s website or the website of the Designated Stock Exchange, and      giving to the member a notice stating that the notice or other document is      available there (a “notice of availability”).  The notice of      availability may be given to the Member by any of the means set out      above. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 24.2 | In      the case of joint holders of a share all notices shall be given to that      one of the joint holders whose name stands first in the Register and      notice so given shall be deemed a sufficient service on or delivery to all      the joint holders. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 25. | Service      of Notice |
|-----|------------------------|

|   | 25.1 | Any      Notice or other document: |
|--------|------|------------------------------------|

|   | (a) | if      served or delivered by post, shall where appropriate be sent by airmail      and shall be deemed to have been served or delivered on the day following      that on which the envelope containing the same, properly prepaid and      addressed, is put into the post; in proving such service or delivery it      shall be sufficient to prove that the envelope or wrapper containing the      notice or document was properly addressed and put into the post and a      certificate in writing signed by the Secretary or other officer of the      Company or other person appointed by the Board that the envelope or      wrapper containing the Notice or other document was so addressed and put      into the post shall be conclusive evidence  thereof; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | if      sent by electronic communication, shall be deemed to be given on the day      on which it is transmitted from the server of the Company or its      agent.  A Notice placed on the Company’s website or the website      of the Designated Stock Exchange, is deemed given by the Company to a      Member on the day following that on which a notice of availability is      deemed served on the Member; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | if      served or delivered in any other manner contemplated by these Articles,      shall be deemed to have been served or delivered at the time of personal      service or delivery or, as the case may be, at the time of the relevant      despatch or transmission; and in proving such service or delivery a      certificate in writing signed by the Secretary or other officer of the      Company or other person appointed by the Board as to the act and time of      such service, delivery, despatch or transmission shall be conclusive      evidence thereof; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 25.2 | (a)            Any      Notice or other document delivered or sent by post to or left at the      registered address of any Member in pursuance of these Articles shall,      notwithstanding that such Member is then dead or bankrupt or that any      other event has occurred, and whether or not the Company has notice of the      death or bankruptcy or other event, be deemed to have been duly served or      delivered in respect of any share registered in the name of such Member as      sole or joint holder unless his name shall, at the time of the service or      delivery of the Notice or document, have been removed from the Register as      the holder of the share, and such service or delivery shall for all      purposes be deemed a sufficient service or delivery of such Notice or      document on all persons interested (whether jointly with or as claiming      through or under him) in theshare. |
|--|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | A      Notice may be given by the Company to the person entitled to a share in      consequence of the death, mental disorder or bankruptcy of a Member by      sending it through the post in a prepaid letter, envelope or wrapper      addressed to him by name, or by the title of representative of the      deceased, or trustee of the bankrupt, or by any like description, at the      address, if any, supplied for the purpose by the person claiming to be so      entitled, or (until such an address has been so supplied) by giving the      notice in any manner in which the same might have been given if the death,      mental disorder or bankruptcy had notoccurred. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Any      person who by operation of law, transfer or other means whatsoever shall      become entitled to any share shall be bound by every Notice in respect of      such share which prior to his name and address being entered on the      Register shall have been duly given to the person from whom he derives his      title to such share. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 25.3 | The      Company shall be under no obligation to send a notice or other document to      the address shown for any particular Member in the Register if the Board      considers that the legal or practical problems under the laws of, or the      requirements of any regulatory body or stock exchange in, the territory in      which that address is situated are such that it is necessary or expedient      not to send the notice or document concerned to such Member at such      address and may require a Member with such an address to provide the      Company with an alternative acceptable address for delivery of notices by      the Company. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26. | Participating      in Meetings |
|-----|--------------------------------|

|   | 26.1 | A      Member shall be deemed to be present at a meeting of Members if he      participates by telephone or other electronic means and all Members      participating in the meeting are able to hear each  other. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 26.2 | The      Board and/or the chairman of a meeting may make any arrangement and impose      any requirement or restriction it or he considers appropriate to ensure      the security of a meeting, including, without limitation, requirements for      evidence of identity to be produced by those attending the meeting, the      searching of personal property and the restriction of items that may be      taken into the meeting place.  The Board and/or the chairman are      entitled to refuse entry to a person who refuses to comply with such      arrangements, requirements orrestrictions. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 27. | Quorum      at General Meetings |
|-----|---------------------------------|

|   | 27.1 | A      meeting of Members is properly constituted if at the commencement of the      meeting there are 2 Members present in person or by proxy or (in the case      of a Member being a corporation) by its duly authorised representative      representing not less than one third of the votes of the shares or class      or series of shares entitled to vote on Resolutions of Members to be      considered at the meeting. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.2 | If      within thirty minutes from the time appointed for the meeting a quorum is      not present, the meeting, if convened upon the requisition of Members,      shall be dissolved; in any other case it shall stand adjourned to the same      day in the next week at the same time and place or to such other time and      place as the directors may determine, and if at the adjourned meeting      there are present within half an hour from the time appointed for the      meeting in person or by proxy or (in the case of a Member being a      corporation) by its duly authorised representative representing not less      than one third of the votes of the shares or each class or series of      shares entitled to vote on the resolutions to be considered by the      meeting, the meeting shall bedissolved. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 27.3 | If      a quorum is present, notwithstanding the fact that such quorum may be      represented by only two persons then such persons may resolve any matter      and a certificate signed by such persons accompanied where such person be      a proxy by a copy of the proxy form shall constitute a valid Resolution of      Members. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28. | Chairman      to Preside |
|-----|--------------------------|

| 29. | Voting      on Resolutions |
|-----|----------------------------|

|   | 29.1 | At      any meeting of the Members the chairman shall be responsible for deciding      in such manner as he shall consider appropriate whether any resolution has      been carried or not and the result of his decision shall be announced to      the meeting and recorded in the minutesthereof. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 29.2 | Notwithstanding      any other provision of the Memorandum or Articles (other than Article      29.3), a Special Resolution of Members shall be required in order for the      Company to: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | approve      or adopt a share option or purchase plan or other arrangement pursuant to      which shares of the Company or Securities convertible into shares of the      Company may be acquired by officers or directors of the Company, provided      that a Resolution of the Members shall not be required: (i) where shares      of the Company or Securities convertible into shares of the Company are      issued to all Members, (ii) where the plan or arrangement includes other      employees of the Company (such as an employee share option plan), (iii)      where shares of the Company are issued to a person not previously employed      by the Company as an inducement to such person's entering into an      employment agreement with the Company; or (iv) where the number of shares      of the Company which may be issued under the plan or other arrangement or      pursuant to the exercise of rights attached to Securities which are      convertible into shares of the Company which are to be issued under the      plan or other arrangement does not exceed the lesser of 1% of the number      of shares of the Company issued and outstanding assuming that all      Securities which are convertible into shares of the Company are so      converted, such number of shares of the Company as would constitute 1% of      all the votes attached to the issued and outstanding shares of the      Company, or 10,000 shares of theCompany |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | issue      shares of the Company or Securities convertible into shares of the Company      resulting in a change of control of theCompany |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | issue      shares of the Company or Securities convertible into shares of the Company      in connection with the acquisition of shares, stock or assets of another      person if: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (i) | any      director or officer of the Company or Member holding 5% or more of the      shares of the Company has a 5% or greater interest (or such persons      collectively have a 10% or greater interest), directly or indirectly, in      the entity or assets to be acquired or in the consideration to be paid in      the transaction or series of related transactions, and the number of      shares of the Company to be issued in connection with the acquisition or      upon the exercise of rights attached to Securities which are to be issued      in connection with the acquisitions and which are convertible into shares      of the Company could result in a 5% or more increase in issued and      outstanding shares of the Company;or |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (ii) | the      number of shares of the Company to be issued in connection with the      acquisition or upon the exercise of rights attached to Securities which      are to be issued in connection with the acquisition and which are      convertible into shares of the Company constitute 20% of the shares of the      Company outstanding prior to the issuance (other than a public offering      for cash). |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | issue      shares of the Company or Securities convertible into shares of the Company      in connection with a transaction (other than a public offering)      involving: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | the      issue by the Company of shares (or Securities convertible into or      exercisable for shares of the Company) at a price less than the greater of      book or market value which together with sales by officers or directors of      the Company or Members holding 5% or more of the shares equals 20% or more      of the shares of the Company (assuming the conversion of the Securities      into shares of the Company); or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      issue by the Company of shares (or Securities convertible into or      exercisable into shares of the Company) equal to 20% or more of the shares      of the Company (assuming the conversion of the Securities into shares)      outstanding before the issuance for less than the greater of book or      market value of the shares of theCompany. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 29.3 | A      Special Resolution of Members is not required for a transaction referred      to in Article 29.2 if approval for the transaction has been obtained from      the Designated Stock Exchange or other securities exchange on which the      shares of the Company are then listedand: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      delay in obtaining a Resolution of the Members would seriously jeopardize      the financial viability of theCompany; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      Audit Committee of the Company has approved not seeking a Special      Resolution of Members; and |
|--------|-----|------------------------------------------------------------------------------------------------------------|

|   | (c) | the      Company has given to all Members not later than ten days before issuance      of the shares of the Company or Securities convertible into shares of the      Company notice that it does not intend to seek the Resolution of the      Members that would otherwise be required and indicating that the Audit      Committee has expressly approved proceeding without obtaining a Resolution      of Members. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30. | Power      to Demand a Vote on a Poll |
|-----|---------------------------------------|

----

| 31. | Voting      by Joint Holders of Shares |
|-----|----------------------------------------|

| 32. | Instrument      of Proxy |
|-----|--------------------------|

|   | 32.1 | A      Member may be represented at a meeting of Members by a proxy (who need not      be a Member) who may speak and vote on behalf of the    Member. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | An      instrument appointing a proxy shall be in such form as the directors may      from time to time determine or such other form as the chairman of the      meeting shall accept as properly evidencing the wishes of the member      appointing the proxy. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.3 | The      chairman of any meeting at which a vote is cast by proxy or on behalf of      any person other than an individual may call for a notarially certified      copy of such proxy or authority which shall be produced within seven days      of being so requested or the votes cast by such proxy or on behalf of such      person shall be disregarded. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.4 | The      Company shall solicit proxies and provide proxy statements for all      meetings of Members.  The instrument appointing a proxy shall be      delivered to such place or places (if any) as may be specified for that      purpose in or by way of not to or in any document accompanying the notice      convening the meeting not less than 48 hours before the time appointed for      the meeting or adjourned meeting at which the person named in the      instrument proposes to vote and in default the instrument of proxy shall      not be treated as valid. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.5 | No      instrument of proxy shall valid after the expiration of 12 months from the      date named in it as the date of itsexecution. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.6 | Delivery      of an instrument appointing a proxy shall not preclude a Member from      attending and voting in person at the meeting convened and in such event,      the instrument appointing a proxy shall be deemed to be      revoked. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.7 | A      vote given in accordance with the terms of an instrument of proxy shall be      valid notwithstanding the previous death or insanity of the principal, or      revocation of the instrument of proxy or of the authority under which it      was executed, provided that no notification in writing of such death,      insanity or revocation shall have been received by the Company at such      place as may be specified for the delivery of instruments of proxy in the      notice convening the meeting or other documents sent therewith two hours      at least before the commencement of the meting at which the instrument of      proxy is used. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 33. | Representation      of Members |
|-----|--------------------------------|

|   | 33.1 | Any      person other than an individual which is a Member may by resolution in      writing (certified or signed by a duly authorised person) of its directors      or other governing body authorise such person as it thinks fit to act as      its representative (in this Article, “Representative”) at any meeting of      the Members or at the meeting of the Members of any class or series of      shares and the Representative shall be entitled to exercise the same      powers on behalf of the Member which he represents as that Member could      exercise if it were an individual. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.2 | The      right of a Representative shall be determined by the law of the      jurisdiction where, and by the documents by which, the Member is      constituted or derives its existence.  In case of doubt, the      directors may in good faith seek legal advice from any qualified person      and unless and until a court of competent jurisdiction shall otherwise      rule, the directors may rely and act upon such advice without incurring      any liability to any Member. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 34. | Adjournment      of General Meetings |
|-----|--------------------------------------|

|   | 34.1 | The      chairman may, with the consent of the meeting, adjourn any meeting from      time to time, and from place toplace. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 34.2 | The      chairman may adjourn the meeting to another time and place without consent      or direction of the meeting if it appears to him  that: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | it      is likely to be impracticable to hold or continue that meeting because of      the number of Members wishing to attend who are not present;      or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      unruly conduct of persons attending the meeting prevents, or is likely to      prevent, the orderly continuation of the business of the meeting;      or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | an      adjournment is otherwise necessary so that the business of the meeting may      be properly conducted. |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

| 35. | Business      at Adjourned Meetings |
|-----|-------------------------------------|

----

| 36. | Directors      Attendance at General Meetings |
|-----|-----------------------------------------------|

| 37. | Election      of Directors |
|-----|----------------------------|

|   | 37.1 | The      first registered agent of the Company shall appoint one or more persons as      the first director or directors of the Company.  The first      director or directors may at the first meeting of directors elect any      number of additional directors as it or they may determine up to the      maximum number set by Article 38.  Thereafter, the directors      shall be elected in accordance with the following  Articles. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 37.2 | Only      persons who are proposed or nominate din accordance with this Article      shall be eligible for election as directors.  Any Member or the      Board may propose any person for election as a director.  Where      any person, other than a director retiring at the meeting or a person      proposed for re-election or election as a director by the Board, is to be      proposed for election as a director, notice much be given to the Company      of the intention to propose him and of his willingness to serve as a      director.  Such notice must be given not later than 10 days      following the earlier of the date on which notice of the general meeting      was posted to the Members or the date on which public disclosure of the      date of the next general meeting wasmade. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 37.3 | Where      the number of persons validly proposed for re-election or election as a      director is greater than the number of directors to be elected, the      persons receiving the most votes (up to the number of directors to be      elected) shall be elected as directors, and an absolute majority of the      votes cast shall not be a prerequisite to the election of such      directors. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 37.4 | A      director shall not require a share qualification, and may be an individual      or a company. |
|--------|------|------------------------------------------------------------------------------------------------------|

|   | 37.5 | Any      director which is a body corporate may appoint any person its duly      authorised representative for the purpose of representing it at meetings      of the Board or with respect to unanimous written  consents. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 38. | Number      and Classes of Directors |
|-----|--------------------------------------|

|   | 38.1 | The      number of directors shall be fixed by the first director or directors of      the Company, and thereafter by an Ordinary Resolution of      Members. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 38.2 | Directors      shall thereafter be divided into three classes designated as Class I,      Class II and Class III.  Each class of directors shall consist,      as nearly as possible, as one third of the total number of directors      constituting the entire Board. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 39. | Term      of Office of Directors |
|-----|----------------------------------|

| 40. | Alternate      and Reserve Directors |
|-----|--------------------------------------|

|   | 40.1 | A      director may by a written instrument appoint an alternate who need not be      a director and an alternate is entitled to attend meetings in the absence      of the director who appointed him and to vote in place of the      director. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 40.2 | Where      the Company has only one Member who is an individual and that Member is      also the sole director, the sole member/director may, by instrument in      writing, nominate a person who is not disqualified from being a director      under the Act as a reserve director in the event of his    death. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 40.3 | The      nomination of a person as a reserve director ceases to have effect if: (a)      before the death of the sole Member/director who nominated him he resigns      as reserve director, or the sole Member/director revokes the nomination in      writing, or (b) the sole Member/director who nominated him ceases to be      the sole Member/director for any reason other than his    death. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 41. | Removal      of Directors |
|-----|---------------------------|

|   | 41.1 | A      director may be removed from office, with cause by an Ordinary Resolution      of Members at a meeting of the Members called for the purpose of removing      the director or for purposes including the removal of the      director. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 41.2 | Notice      of a meeting called under Paragraph 41.1(a) shall state that the purpose      of the meeting is, or the purposes of the meeting include, the removal of      a director. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 41.3 | For      the purposes of article 41.1, “cause” shall mean a conviction for a      criminal offence involving dishonesty or engaging in conduct which brings      the director or the Company into disrepute and which results in material      financial detriment to the Company. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 42. | Vacancy      in the Office of Director |
|-----|----------------------------------------|

|   | 42.1 | Notwithstanding      Article 37, the directors may appoint one or more directors to fill a      vacancy on the Board. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------|

|   | 42.2 | For      the purposes of this Article, there is a vacancy on the Board if a      director dies or otherwise ceases to hold office as a director prior to      the expiration of his term of office of there is otherwise a vacancy in      the number of directors as fixed pursuant to Article  38. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 42.3 | The      term of any appointment under this Article may not exceed the term that      remained when the person who has ceased to be a director left or otherwise      ceased to hold office. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 43. | Remuneration      of Directors |
|-----|--------------------------------|

|   | 43.1 | With      the prior or subsequent approval by an Ordinary Resolution of Members, the      directors may, by a Resolution of Directors, fix the emoluments of      directors with respect to services to be rendered in any capacity to the      Company. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 43.2 | The      Board shall obtain the approval of the Company in general meeting before      making any payment to any director or past director of the Company by way      of compensation for loss of office, or as consideration for or in      connection with his retirement from office (not being payment to which the      director is contractuallyentitled). |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 44. | Resignation      of directors |
|-----|-------------------------------|

| 45. | Directors      to Manage Business |
|-----|-----------------------------------|

|   | 45.1 | The      business and affairs of the Company shall be managed by, or under the      direction or supervision of, thedirectors. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------|

|   | 45.2 | The      directors have all the powers necessary for managing, and for directing      and supervising, the business and affairs of the  Company. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 45.3 | The      directors may authorise the payment of all expenses incurred preliminary      to and in connection with the formation and registration of the Company      and may exercise all such powers of the Company as are not by the Act or      by the Memorandum or these Articles required to be exercised by the      Members of the Company, subject to any delegation of such powers as may be      authorised by these Articles and to such requirements as may be prescribed      by an Ordinary Resolution of Members; but no requirement made by an      Ordinary Resolution of Members shall prevail if it is inconsistent with      these Articles nor shall such requirement invalidate any prior act of the      directors which would have been valid if such requirement had not been      made. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 45.4 | Subject      to the provisions of the Act, all cheques, promissory notes, draft, bills      of exchange and other negotiable instruments and all receipts for moneys      paid to the Company, shall be signed, drawn, accepted, endorsed or      otherwise executed, as the case may be, in such manner as shall from time      to time be determined by Resolution of  Directors. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 46. | Board      Committees |
|-----|-----------------------|

|   | 46.1 | The      directors may, by a Resolution of Directors, designate one or more board      committees, each consisting of one or more  directors. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 46.2 | The      directors, by Resolution of Directors, shall designate three permanently      sitting committees, the Audit Committee, the Compensation Committee and      the Nominating and Corporate Governance Committee.  Each      committee shall consist of at least two independent      directors.  The Audit Committee shall be solely consisted of      independent directors. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 46.3 | The      Board shall adopt a formal written committee charter for each of the board      committees and review and assess the adequacy of such formal written      charters on an annual basis.  The charters shall comply with      applicable laws, rules and the rules of the Designated Stock      Exchange. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 46.4 | Each      of the board committees has such powers and authorities of the directors,      including the power and authority to affix the Seal, as are set forth in      the Resolution of Directors establishing the committee, except that the      directors have no power to delegate the following powers to a board      committee: |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to      amend the Memorandum or theseArticles; |
|--------|-----|------------------------------------------------|

|   | (b) | to      designate board committees; |
|--------|-----|-------------------------------------|

|   | (c) | to      delegate powers to a boardcommittee; |
|--------|-----|----------------------------------------------|

|   | (d) | to      appoint or remove directors; |
|--------|-----|--------------------------------------|

|   | (e) | to      appoint or remove an agent; |
|--------|-----|-------------------------------------|

|   | (f) | to      approve a plan of merger, consolidation or  arrangement; |
|--------|-----|------------------------------------------------------------------|

|   | (g) | to      make a declaration of solvency or approve a liquidation plan;      or |
|--------|-----|-------------------------------------------------------------------------------|

----

|   | (h) | to      make a determination that the company will, immediately after a proposed      distribution, meet the solvency test set out in the  Act. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 46.5 | The      directors may, by Resolution of Directors, designate such other board      committees, each consisting of one or more directors, as they deem      necessary or desirable. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 46.6 | The      meetings and proceedings of each board committee shall be governed mutatis      mutandis by the provisions of those Articles regulating the proceedings of      directors so far as the same are not superseded by any provisions in the      resolution establishing thecommittee. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47. | Officers      and Agents |
|-----|--------------------------|

|   | 47.1 | The      directors may, by a Resolution of Directors, appoint any person, including      a person who is a director, to be an officer or agent of the      Company.  Such officers may consist of a chairman of the Board,      a vice chairman of the Board, a president and one or more vice presidents,      secretaries and treasurers and such other officers as may from time to      time be deemed desirable.  Any number of offices may be held by      the same person. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 47.2 | Each      officer or agent has such powers and authorities of the directors,      including the power and authority to affix the Seal, as are set forth in      the Resolution of Directors appointing the officer or agent, except that      no officer or agent has any power or authority with respect to the      following: |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to      amend the Memorandum or theseArticles; |
|--------|-----|------------------------------------------------|

|   | (b) | to      change the registered office oragent; |
|--------|-----|-----------------------------------------------|

|   | (c) | to      designate board committees; |
|--------|-----|-------------------------------------|

|   | (d) | to      delegate powers to a boardcommittee; |
|--------|-----|----------------------------------------------|

|   | (e) | to      appoint or remove directors; |
|--------|-----|--------------------------------------|

|   | (f) | to      appoint or remove an agent; |
|--------|-----|-------------------------------------|

|   | (g) | to      fix emoluments of directors; |
|--------|-----|--------------------------------------|

|   | (h) | to      approve a plan of merger, consolidation or  arrangement; |
|--------|-----|------------------------------------------------------------------|

|   | (i) | to      make a declaration of solvency or approve a liquidation    plan; |
|--------|-----|--------------------------------------------------------------------------|

|   | (j) | to      make a determination that the company will, immediately after a proposed      distribution, meet the solvency test set out in the Act;  or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (k) | to      authorise the Company to continue as a company incorporated under the laws      of a jurisdiction outside the British Virgin  Islands. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

| 48. | Removal      of Officers and Agents |
|-----|-------------------------------------|

| 49. | Duties      of Officers |
|-----|-------------------------|

|   | 49.1 | In      the absence of any specific allocation of duties it shall be the      responsibility of the chairman of the Board to preside at meetings of      directors and Members, the vice chairman to act in the absence of the      chairman, the president to manage the day to day affairs of the Company,      the vice presidents to act in order of seniority in the absence of the      president but otherwise to perform such duties as may be delegated to them      by the president, the Secretary to maintain the Register, register or      directors, minute books, records (other than financial records) of the      Company, and Seal and to ensure compliance with all procedural      requirements imposed on the Company by applicable law, and the treasurer      to be responsible for the financial affairs of the  Company. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 49.2 | Every      officer has such powers and authority of the directors, including the      power and authority to affix the Seal, as are set forth in these Articles      or in the resolution appointing the officer or agent, except that no      officer has any power or authority with respect to fixing the emoluments      of directors. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 50. | Remuneration      of Officers |
|-----|-------------------------------|

| 51. | Standard      of Care |
|-----|-----------------------|

| 52. | Conflicts      of Interest |
|-----|----------------------------|

|   | 52.1 | A      director shall, forthwith after becoming aware of the fact that he is      interested in a transaction entered into or to be entered into by the      Company, disclose the interest to the Board, unless the transaction or      proposed transaction (a) is between the director and the Company and (b)      is to be entered into in the ordinary course of the Company’s business and      on usual terms and conditions. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 52.2 | A      transaction entered into by the Company in respect of which a director is      interested is voidable by the Company unless the director complies with      Paragraph 52.1 or (a) the material facts of the interest of the director      in the transaction are known by the Members entitled to vote at a meeting      of Members and the transaction is approved or ratified by an Ordinary      Resolution of Members or (b) the company received fair value for the      transaction. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 52.3 | For      the purposes of this Article, a disclosure is not made to the Board unless      it is made or brought to the attention of every director on the      Board. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 52.4 | A      director who is interested in a transaction entered into or to be entered      into by the Company may vote on a matter relating to the transaction,      attend a meeting of directors at which a matter relating to the      transaction arises and be included among the directors present at the      meeting for the purposes of a quorum and sign a document on behalf of the      Company, or do any other thing in his capacity as director that relates to      the transaction. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 53. | Indemnification      and Exculpation |
|-----|--------------------------------------|

|   | 53.1 | Subject      to Paragraph 53.2 the Company shall indemnify against all expenses,      including legal fees, and against all judgments, fines and amounts paid in      settlement and reasonably incurred in connection with legal,      administrative or investigative proceedings any person  who: |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | is      or was a party or is threatened to be made a party to any threatened,      pending or completed proceedings, whether civil, criminal, administrative      or investigative, by reason of the fact that the person is or was a      director, an officer or a liquidator of the Company;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | is      or was, at the request of the Company, serving as a director, officer or      liquidator of, or in any other capacity is or was acting for, another body      corporate or a partnership, joint venture, trust or other      enterprise. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 53.2 | Paragraph      53.1 does not apply to a person referred to in that Paragraph unless the      person acted honestly and in good faith and in what he believed to be the      best interests of the Company and, in the case of criminal proceedings,      the person had no reasonable cause to believe that his conduct was      unlawful. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 53.3 | The      decision of the directors as to whether the person acted honestly and in      good faith and in what he believed to be the best interests of the Company      and as to whether the person had no reasonable cause to believe that his      conduct was unlawful is, in the absence of fraud, sufficient for the      purposes of these Articles, unless a question of law is      involved. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 53.4 | The      termination of any proceedings by any judgment, order, settlement,      conviction or the entering of a nolle prosequi does      not, by itself, create a presumption that the person did not act honestly      and in good faith and with a view to the best interests of the Company or      that the person had reasonable cause to believe that his conduct was      unlawful. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 53.5 | If      a person referred to in this Article has been successful in defense of any      proceedings referred to therein, the person is entitled to be indemnified      against all expenses, including legal fees, and against all judgments,      fines and amounts paid in settlement and reasonably incurred by the person      in connection with the proceedings. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 53.6 | The      Company may purchase and maintain insurance in relation to any person who      is or was a director, an officer or a liquidator of the Company, or who at      the request of the Company is or was serving as a director, an officer or      a liquidator of, or in any other capacity is or was acting for, another      body corporate or a partnership, joint venture, trust or other enterprise,      against any liability asserted against the person and incurred by the      person in that capacity, whether or not the Company has or would have had      the power to indemnify the person against the liability under Paragraph      53.1. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 54. | Board      Meetings |
|-----|---------------------|

| 55. | Notice      of Board Meetings |
|-----|-------------------------------|

----

| 56. | Participation      in Meetings by Telephone |
|-----|---------------------------------------------|

| 57. | Quorum      at Board Meetings |
|-----|-------------------------------|

| 58. | Board      to Continue in the Event of Vacancy |
|-----|------------------------------------------------|

| 59. | Chairman      to Preside |
|-----|--------------------------|

| 60. | Documents      to be Kept |
|-----|---------------------------|

|   | 60.1 | The      Company shall keep the following documents at the office of its registered      agent: |
|--------|------|-------------------------------------------------------------------------------------------------|

|   | (a) | the      Memorandum and these Articles; |
|--------|-----|-----------------------------------------|

|   | (b) | the      Register or a copy of the Register; |
|--------|-----|----------------------------------------------|

|   | (c) | the      register of directors or a copy of the register of    directors; |
|--------|-----|---------------------------------------------------------------------------|

|   | (d) | the      register of charges or a copy of the register of  charges; |
|--------|-----|---------------------------------------------------------------------|

|   | (e) | copies      of all notices and other documents filed by the Company in the previous      ten years. |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | 60.2 | Where      the Company keeps a copy of its Register or register of directors at the      office of its registered agent, it shall within 15 days of any change in      the register, notify the registered agent, in writing, of the change, and      it shall provide the registered agent with a written record of the      physical address of the place or places at which the original Register or      the original register of directors iskept. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 60.3 | Where      the place at which the original Register or the original register of      directors is changed, the company shall provide the registered agent with      the physical address of the new location of the records within 14 days of      the change of location. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 60.4 | The      Company shall keep the following records at the office of its registered      agent or at such other place or places, within or outside the British      Virgin Islands, as the directors maydetermine: |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      minutes of meetings and Resolutions of Members and of classes of Members;      and |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (b) | the      minutes of meetings and Resolutions of Directors and board      committees. |
|--------|-----|--------------------------------------------------------------------------------------|

|   | 60.5 | Where      any of the minutes or resolutions described in the previous paragraph are      kept at a place other than at the office of the Company’s registered      agent, the Company shall provide the registered agent with a written      record of the physical address of the place or places at which the records      are kept. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 60.6 | Where      the place at which any of the records described in Paragraph 60.4 is      changed, the Company shall provide the registered agent with the physical      address of the new location of the records within 14 days of the change of      location. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 60.7 | The      Company’s records shall be kept in written form or either wholly or partly      as electronic records. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------|

| 61. | Form      and Use of Seal |
|-----|---------------------------|

----

| 62. | Books      of Account |
|-----|-----------------------|

|   | (a) | are      sufficient to show and explain the Company’s transactions;    and |
|--------|-----|----------------------------------------------------------------------------------|

|   | (b) | will,      at any time, enable the financial position of the Company to be determined      with reasonable accuracy. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

| 63. | Form      of Records |
|-----|----------------------|

| 64. | Financial      Statements |
|-----|---------------------------|

| 65. | Distribution      of Accounts |
|-----|-------------------------------|

----

| 66. | Audit |
|-----|-------|

| 67. | Appointment      of Auditor |
|-----|-----------------------------|

| 68. | Duties      of Auditor |
|-----|------------------------|

|   | 68.1 | The      auditor shall examine each profit and loss account and balance sheet      required to be served on every Member of the Company or laid before a      meeting of the Members of the Company and shall state in a written report      whether or not: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      their opinion the profit and loss account and balance sheet give a true      and fair view respectively of the profit and loss for the period covered      by the accounts, and of the state of affairs of the Company at the end of      that period; and |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | all      the information and explanations required by the auditor have been      obtained. |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | 68.2 | The      report of the auditors shall be annexed to the accounts and shall be read      at the meeting of Members at which the accounts are laid before the      Company or shall be served on theMembers |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 69. | Access      to Records |
|-----|------------------------|

|   | Every      auditor of the Company shall have right of access at all times to the      books of account of the Company, and shall be entitled to require from the      directors and officers of the Company such information and explanations as      he thinks necessary for the performance of the duties of the      auditor. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 70. | Auditor      Entitled to Notice |
|-----|---------------------------------|

| 71. | Business      Combinations |
|-----|----------------------------|

|   | 71.1 | (a) | Any      Business Combination with any Interested Shareholder within a period of      three years following the time of the transaction in which the person      become an Interested Shareholder must be approved by the Board and      authorised at an annual or special general meeting, by the affirmative      vote of at least 66 and 2/3% of the issued and outstanding voting shares      of the Company that are not owned by the Interested Shareholder      unless: |
|--------|------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | prior      to the time that the person became an Interested Shareholder, the Board      approved either the Business Combination or the transaction which resulted      in the person becoming an Interested Shareholder;  or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | upon      consummation of the transaction which resulted in the person becoming an      Interested Shareholder, the Interested Shareholder owned at least 85% of      the number of issued and outstanding voting shares of the Company at the      time the transaction commenced, excluding for the purposes of determining      the number of shares issued and outstanding those shares owned (i) by      persons who are directors and also officers and (ii) employee share plans      in which employee participants do not have the right to determine whether      shares held subject to the plan will be tendered in a tender or exchange      offer. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      restrictions contained in this Article 71.1 shall not apply      if: |
|--------|-----|-------------------------------------------------------------------------------|

|   | (i) | a      Member becomes an Interested Shareholder inadvertently and (i) as soon as      practicable divests itself of ownership of sufficient shares so that the      Member ceases to be an Interested Shareholder; and (ii) would not, at any      time within the three-year period immediately prior to a Business      Combination between the Company and such Member, have been an Interested      Shareholder but for the inadvertent acquisition of ownership;      or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | the      Business Combination is proposed prior to the consummation or abandonment      of, and subsequent to the earlier of the public announcement or the notice      required hereunder of, a proposed transaction which (i) constitutes one of      the transactions described in the following sentence; (ii) is with or by a      person who either was not an Interested Shareholder during the previous      three years or who became an Interested Shareholder with the approval of      the Board; and (iii) is approved or not opposed by a majority of the      members of the Board then in office who were Directors prior to any person      becoming an Interested Shareholder during the previous three years or were      recommended for election or elected to succeed such Directors by      resolution of the Board approved by a majority of such Directors. The      proposed transactions referred to in the preceding sentence are limited      to: |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | a      merger, amalgamation or consolidation of the Company (except an      amalgamation in respect of which, pursuant to the Act, no vote of the      shareholders of the Company isrequired); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | a      sale, lease, exchange, mortgage, pledge, transfer or other disposition (in      one transaction or a series of transactions), whether as part of a      dissolution or otherwise, of assets of the Company or of any entity      directly or indirectly wholly-owned or majority-owned by the Company      (other than to the Company or any entity directly or indirectly      wholly-owned by the Company) having an aggregate market value equal to 50%      or more of either the aggregate market value of all of the assets of the      Company determined on a consolidated basis or the aggregate market value      of all the issued and outstanding shares of the Company;  or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | a      proposed tender or exchange offer for 50% or more of the issued and      outstanding voting shares of theCompany. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | For      the purpose of this Article 71 only, theterm: |
|--------|-----|--------------------------------------------------------|

|   | (i) | "affiliate"      means a person that directly, or indirectly through one or more      intermediaries, controls, or is controlled by, or is under common control      with, another person; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | "associate,"      when used to indicate a relationship with any person, means: (i) any      company, partnership, unincorporated association or other entity of which      such person is a director, officer or partner or is, directly or      indirectly, the owner of 20% or more of any class of voting shares; (ii)      any trust or other estate in which such person has at least a 20%      beneficial interest or as to which such person serves as trustee or in a      similar fiduciary capacity; and (iii) any relative or spouse of such      person, or any relative of such spouse, who has the same residence as such      person; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | "Business      Combination," when used in reference to the Company and any Interested      Shareholder of the Company, means: |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      merger, amalgamation or consolidation of the Company or any entity      directly or indirectly wholly-owned or majority-owned by the Company,      wherever incorporated, with (A) the Interested Shareholder or any of its      affiliates, or (B) with any other company, partnership, unincorporated      association or other entity if the merger, amalgamation or consolidation      is caused by the InterestedShareholder; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      sale, lease, exchange, mortgage, pledge, transfer or other disposition (in      one transaction or a series of transactions), except proportionately as a      shareholder of the Company, to or with the Interested Shareholder, whether      as part of a dissolution or otherwise, of assets of the Company or of any      entity directly or indirectly wholly-owned or majority-owned by the      Company which assets have an aggregate market value equal to 10% or more      of either the aggregate market value of all the assets of the Company      determined on a consolidated basis or the aggregate market value of all      the issued and outstanding shares of the  Company; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | any      transaction which results in the issuance or transfer by the Company or by      any entity directly or indirectly wholly-owned or majority-owned by the      Company of any shares of the Company, or any share of such entity, to the      Interested Shareholder, except: (A) pursuant to the exercise, exchange or      conversion of securities exercisable for, exchangeable for or convertible      into shares of the Company, or shares of any such entity, which securities      were issued and outstanding prior to the time that the Interested      Shareholder became such; (B) pursuant to a dividend or distribution paid      or made, or the exercise, exchange or conversion of securities exercisable      for, exchangeable for or convertible into shares of the Company, or shares      of any such entity, which security is distributed, pro rata to all holders      of a class or series of shares subsequent to the time the Interested      Shareholder became such; (C) pursuant to an exchange offer by the Company      to purchase shares made on the same terms to all holders      of  such shares; or (D) any issuance or transfer of shares by      the Company; provided however, that in no case under items (B)-(D) of this      subparagraph shall there be an increase in the Interested Shareholder's      proportionate share of the any class or series of  shares; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      transaction involving the Company or any entity directly or indirectly      wholly-owned or majority-owned by the Company which has the effect,      directly or indirectly, of increasing the proportionate share of any class      or series of shares, or securities convertible into any class or series of      shares of the Company, or shares of any such entity, or securities      convertible into such shares, which is owned by the Interested      Shareholder, except as a result of immaterial changes due to fractional      share adjustments or as a result of any repurchase or redemption of any      shares not caused, directly or indirectly, by the Interested Shareholder;      or |
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|   | (e) | any      receipt by the Interested Shareholder of the benefit, directly or      indirectly (except proportionately as a shareholder of the Company), of      any loans, advances, guarantees, pledges or other financial benefits      (other than those expressly permitted in subparagraphs (a)-(d) of this      paragraph) provided by or through the Company or any entity directly or      indirectly wholly-owned or majority-owned by the  Company; |
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|   | (iv) | "control,"      including the terms "controlling," "controlled by" and "under common      control with," means the possession, directly or indirectly, of the power      to direct or cause the direction of the management and policies of a      person, whether through the ownership of voting shares, by contract or      otherwise. A person who is the owner of 20% or more of the issued and      outstanding voting shares of any company, partnership, unincorporated      association or other entity shall be presumed to have control of such      entity, in the absence of proof by a preponderance of the evidence to the      contrary; provided that notwithstanding the foregoing, such presumption of      control shall not apply where such person holds voting shares, in good      faith and not for the purpose of circumventing this provision, as an      agent, bank, broker, nominee, custodian or trustee for one or more owners      who do not individually or as a group have control of such      entity; |
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|   | (v) | "Interested      Shareholder" means any person (other than the Company and any entity      directly or indirectly wholly-owned or majority-owned by the Company) that      (i) is the owner of 15% or more of the issued and outstanding voting      shares of the Company, (ii) is an affiliate or associate of the Company      and was the owner of 15% or more of the issued and outstanding voting      shares of the Company at any time within the three-year period immediately      prior to the date on which it is sought to be determined whether such      person is an Interested Shareholder or (iii) is an affiliate or associate      of any person listed in (i) or (ii) above; provided, however, that the      term "Interested Shareholder" shall not include any person whose ownership      of shares in excess of the 15% limitation set forth herein is the result      of action taken solely by the Company unless such person referred to in      this proviso acquires additional voting shares of the Company otherwise      than as a result of further corporate action not caused, directly or      indirectly, by such person. For the purpose of determining whether a      person is an Interested Shareholder, the voting shares of the Company      deemed to be issued and outstanding shall include voting shares deemed to      be owned by the person through application of paragraph (8) below, but      shall not include any other unissued shares which may be issuable pursuant      to any agreement, arrangement or understanding, or upon exercise of      conversion rights, warrants or options, or  otherwise; |
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|   | (vi) | "person"      means any individual, company, partnership, unincorporated association or      other entity; |
|--------|------|------------------------------------------------------------------------------------------------------------|

|   | (vii) | "voting      shares" means, with respect to any company, shares of any class or series      entitled to vote generally in the election of directors and, with respect      to any entity that is not a company, any equity interest entitled to vote      generally in the election of the governing body of such      entity; |
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|   | (viii) | "owner,"      including the terms "own" and "owned," when used with respect to any      shares, means a person that individually or with or through any of its      affiliates or associates: |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | beneficially      owns such shares, directly or indirectly;or |
|--------|-----|---------------------------------------------------------------|

|   | (b) | has      (A) the right to acquire such shares (whether such right is exercisable      immediately or only after the passage of time) pursuant to any agreement,      arrangement or understanding, or upon the exercise of conversion rights,      exchange rights, warrants or options, or otherwise; provided, however,      that a person shall not be deemed the owner of shares tendered pursuant to      a tender or exchange offer made by such person or any of such person's      affiliates or associates until such tendered shares are accepted for      purchase or exchange; or (B) the right to vote such shares pursuant to any      agreement, arrangement or understanding; provided, however, that a person      shall not be deemed the owner of any shares because of such person's right      to vote such shares if the agreement, arrangement or understanding to vote      such shares arises solely from a revocable proxy or consent given in      response to a proxy or consent solicitation made to 10 or more persons;      or |
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|   | (c) | has      any agreement, arrangement or understanding for the purpose of acquiring,      holding, voting (except voting pursuant to a revocable proxy or consent as      described in item (B) of subparagraph (b) of this paragraph), or disposing      of such shares with any other person that beneficially owns, or whose      affiliates or associates beneficially own, directly or indirectly, such      shares. |
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|   | 71.2 | In      respect of any Business Combination to which the restrictions contained in      Article 71.1 do not apply but which the Act requires to be approved by the      Members, the necessary general meeting quorum and Members’ approval shall      be as set out in these Articles. |
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|   | 71.3 | The      Board shall ensure that the Articles or other constitutional documents of      each entity wholly-owned or majority-owned by the Company shall contain      any provisions necessary to ensure that the intent of Article 71.1, as it      relates to the actions of such entities, is  achieved. |
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| 72. | Changes |
|-----|---------|

| 73. | Continuation      under Foreign Law |
|-----|-------------------------------------|

|   | Incorporator                    |
|--------|---------------------------------|
|   |                            |
|   |                            |
|   | (Sgd Jacinth Ward)              |
|   | Jacinth      Ward               |
|   | Authorised      signatory       |
|   | Equity      Trust (BVI) Limited |

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