# EDGAR Filing Document

**Accession Number:** 0001876766
**File Stem:** 0001185185-26-000063
**Filing Date:** 2026-1
**Character Count:** 98779
**Document Hash:** 4206e53a066471f14a3cbf91a58b5371
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-26-000063.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0001185185-26-000063

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260107

**FILED AS OF DATE**: 20260107

**DATE AS OF CHANGE**: 20260107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lichen International Ltd
- **CENTRAL INDEX KEY:** 0001876766
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41493
- **FILM NUMBER:** 26516416

**BUSINESS ADDRESS:**
- **STREET 1:** B2306, BLOCK B TOWER 3,
- **STREET 2:** JINJIANG WANDA PLAZA COMMERCIAL COMPLEX
- **CITY:** JINJIANG CITY, FUJIAN PROVINCE
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** (86) 4008350088

**MAIL ADDRESS:**
- **STREET 1:** B2306, BLOCK B TOWER 3,
- **STREET 2:** JINJIANG WANDA PLAZA COMMERCIAL COMPLEX
- **CITY:** JINJIANG CITY, FUJIAN PROVINCE
- **STATE:** F4
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Lichen China Ltd
- **DATE OF NAME CHANGE:** 20210803

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** **Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month ended January 2026

Commission File No. **001-41493**

**<u>LICHEN INTERNATIONAL LIMITED</u>** (Translation of registrant's name into English)

**15<sup>th</sup> Floor, Xingang Square, Hubin North Road, Siming District, Xiamen City, Fujian Province, China, 361013** (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F ☒ Form 40-F ☐

**INFORMATION CONTAINED IN THIS FORM 6-K REPORT**

**Results of Extraordinary General Meeting of Shareholders**

At the extraordinary general meeting of shareholders (the "Meeting") of Lichen International Limited (the "Company") convened on December 30, 2025, at 10:00 a.m., Beijing Time (December 29, 2025, at 9:00 p.m. Eastern Time), at 15<sup>th</sup> Floor, Xingang Square, Hubin North Road, Siming District, Xiamen City, Fujian Province, China, 361013, the shareholders of the Company adopted resolutions approving all of the six proposals considered at the Meeting. A total of 15,520,739 Class A Ordinary Shares, par value $0.008 per share of the Company, each of which is entitled to one vote per share, and 45,000 Class B Ordinary Shares, par value $0.008 per share of the Company, each of which is entitled to ten votes per share, collectively representing 15,970,739 voting power, accounting for 92.23% of the total voting power exercisable as of November 21, 2025, the record date, were present in person or by proxy at the Meeting. All matters voted on at the meeting were approved. The results of the votes, in voting power, were as follows:

1. Proposal
One – Share Capital Increase

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld/<br> Abstain** |
| Proposal One: As an ordinary resolution, that (a) the increase of the authorized share capital of the Company from US$1,000,000.00 divided into (a) 100,000,000 series A ordinary shares of par value US$0.008 each and (b) 25,000,000 series B ordinary shares of par value US$0.008 each, to US$200,000,000.00 divided into (a) 20,000,000,000 series A ordinary shares of par value US$0.008 each and (b) 5,000,000,000 series B ordinary shares of par value US$0.008 each, by the creation of additional (a) 19,900,000,000 series A ordinary shares of par value US$0.008 each and (b) 4,975,000,000 series B ordinary shares of par value US$0.008 each to rank pari passu in all respects with the existing shares in the capital of the Company be and is hereby approved; and (b) any one director of the Company be and is hereby authorised to do all such acts and things and execute all such documents, including under seal where applicable, as he or she may consider necessary or desirable to give effect to the Share Capital Increase and the transactions contemplated thereunder and to attend to any necessary registration and/or filing in the Cayman Islands for and on behalf of the Company (the "Share Capital Increase"). | 15953926 | 16808 | &nbsp;&nbsp;&nbsp;&nbsp;5 |

---

2. Proposal
Two – Amendments of Articles

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld/<br> Abstain** |
| Proposal Two: As a special resolution, that the Company's existing amended and restated memorandum and articles of association be amended as follows:<br>(1) by deleting article 39 of the Company's existing amended and restated articles of association in its entirety and replacing it with the following:<br> "39. The Company may, but shall not be obligated to, in each year hold a general meeting as an annual general meeting, which, if held, shall be convened by the Directors, in accordance with these Articles.";<br> (2) by deleting article 43 of the Company's existing amended and restated articles of association in its entirety and replacing it with the following:<br> "43. No business shall be transacted at any general meeting unless a quorum of Members is present at the time when the meeting proceeds to business; the quorum shall be:<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Company has only one Member: that Member; or<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Company has more than one Member<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subject to Article 43(b)(ii), two or more Members; or<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject to Article 45, for so long as any shares are listed on a Designated Stock Exchange, one or more Members holding shares that represent not less than one-third of the voting rights of the outstanding issued shares carrying the right to vote at such general meeting."; and<br> (3) by deleting article 45 of the Company's existing amended and restated articles of association in its entirety and replacing it with the following:<br> "45. If a quorum is not present within half an hour from the time appointed for the meeting to commence or if during such a meeting a quorum ceases to be present, the meeting, if convened upon a Members' requisition, shall be dissolved, and in any other case it shall stand adjourned to the same day in the next week at the same time and/or place or to such other day, time and/or place as the Directors may determine, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting to commence, the Members present shall be a quorum." (the "Amendments of Articles"). | 15954411 | 16319 | <br> 9 |

---

3. Proposal Three –
 the Share Consolidation

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld<br> /Abstain** |
| Proposal Three: As an ordinary resolution, that (a) the consolidation of the Company's issued and unissued series A and series B ordinary shares at a ratio of not less than one (1)-for-twenty (20) and not more than one (1)-for-two hundred (200) (the "Range"), with the exact ratio to be set at a whole number within the Range and the exact effective date to be determined by the board of directors of the Company (the "Board") in its sole discretion within eighteen months after the date of passing of this resolution (the "Share Consolidation"), provided that no fractional share shall arise from the Share Consolidation, be and is hereby approved; (b) the rounding up of any fractional shares resulting from the Share Consolidation to the nearest whole ordinary share be and is hereby approved and (c) the Board be and is hereby authorised to do all such acts and things and execute all such documents, including under seal where applicable, as the Board considers necessary or desirable to give effect to the Share Consolidation and the transactions contemplated thereunder, including determining the exact ratio within the Range and the exact effective date of the Share Consolidation and instructing the registered office provider or transfer agent of the Company to complete the necessary corporate record(s) and filing(s) to reflect the Share Consolidation (the "Share Consolidation"). | 15954471 | 16261 | &nbsp;&nbsp;&nbsp;&nbsp;7 |

---

4. Proposal
Four – Adoption of the Amended and Restated Memorandum and Articles of Association

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld/<br> Abstain** |
| Proposal four: As a special resolution, that subject to and conditional upon the passing of Resolutions One and Two above in respect of the Share Capital Increase and the Amendments of Articles, with immediate effect after the close of this meeting, (a) the amendment of the existing amended and restated memorandum and articles of association of the Company to reflect the Share Capital Increase and the Amendments of Articles be and hereby approved; (b) the amended and restated memorandum and articles of association of the Company (the "Amended and Restated Memorandum and Articles of Association") be and are hereby approved and adopted as the new memorandum and articles of association of the Company in substitution for and to the exclusion of the existing amended and restated memorandum and articles of association of the Company and (c) any one director of the Company be and is hereby authorised to do all such acts and things and execute all such documents, including under seal where applicable, as he or she may consider necessary or desirable to give effect to the adoption of the Amended and Restated Memorandum and Articles of Association and the transactions contemplated thereunder and to attend to any necessary registration and/or filing in the Cayman Islands for and on behalf of the Company (the "Adoption of the Amended and Restated Memorandum and Articles of Association"). | 15953905 | 16823 | 11 |

---

5. Proposal
Five – the Amendment and Restatement of the Amended and Restated Memorandum and Articles of Association

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld/<br> Abstain** |
| Proposal Five: As a special resolution, that subject to and conditional upon the passing of Resolutions One, Two and Three above in respect of the Share Capital Increase, the Amendments of Articles and the Share Consolidation, with effect from the effective date of the Share Consolidation, (a) the amendment of the amended and restated memorandum and articles of association of the Company as at the effective date of the Share Consolidation to reflect the Share Capital Increase, the Amendments of Articles and the Share Consolidation be and is hereby approved; (b) the amended and restated memorandum and articles of association of the Company be and are hereby approved and adopted as the new memorandum and articles of association of the Company in substitution for and to the exclusion of the amended and restated memorandum and articles of association of the Company as at the effective date of the Share Consolidation and (c) any one director of the Company be and is hereby authorised to do all such acts and things and execute all such documents, including under seal where applicable, as he or she may consider necessary or desirable to give effect to the amendment of the amended and restated memorandum and articles of association of the Company and the transactions contemplated thereunder and to attend to any necessary registration and/or filing in the Cayman Islands for and on behalf of the Company (the "Amendment and Restatement of the Amended and Restated Memorandum and Articles of Association"). | 15954470 | 16208 | 61 |

---

6. Proposal
Six – Adjourn of the Meeting

---

| | | | |
|:---|:---|:---|:---|
| **Resolution(s)** | **For** | **Against** | **Withheld/<br> Abstain** |
| Proposal Six: As an ordinary resolution, that the Meeting be and is adjourned to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of Resolution One above, Resolution Two above, Resolution Three above, Resolution Four and/or Resolution Five above (the "Adjournment of the Meeting"). | 15956197 | 14481 | 61 |

---

The Company's Amended and Restated Memorandum and Articles of Association is filed as Exhibit 3.1 to this Current Report on Form 6-K.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Amended and Restated Memorandum and Articles of Association](licnex3-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: January 7, 2026 | **Lichen International Limited** | **Lichen International Limited** |
|  | By: | */s/ Ya Li* |
|  | Name: | Ya Li |
|  | Title: | Chief Executive Officer, Chairman of the Board, and Director |

---

## Exhibit 3.1

**Exhibit 3.1**

**AMENDED AND**

**RESTATED**

**MEMORANDUM** 

**AND**

**ARTICLES OF ASSOCIATION** 

**OF**

**Lichen International Limited**

理臣国际有限公司

**(Adopted by way of a special resolution passed on December 30, 2025)**

**Incorporated on 13 April 2016**

**INCORPORATED IN THE CAYMAN ISLANDS**

THE COMPANIES ACT (AS REVISED)

Company Limited by Shares

AMENDED AND RESTATED

MEMORANDUM OF ASSOCIATION

OF

Lichen International Limited

理臣国际有限公司

(Adopted by way of a special resolution<br> passed on December 30, 2025)

1. The name of the Company is Lichen International Limited 理臣国际有限公司 .

2. The Registered Office of the Company shall be at the offices of
Ocorian Trust (Cayman) Limited, Windward 3, Regatta Office Park, PO Box 1350, Grand Cayman KY1-1108, Cayman Islands or at such other
place as the Directors may from time to time decide.

3. The objects for which the Company is established are unrestricted
and shall include, but without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) To carry on the business of an investment company and to act as promoters and entrepreneurs and to carry on business as financiers, capitalists, concessionaires, merchants, brokers, traders, dealers, agents, importers and exporters and to undertake and carry on and execute all kinds of investment, financial, commercial, mercantile, trading and other operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To carry on whether as principals, agents or otherwise howsoever
the business of realtors, developers, consultants, estate agents or managers, builders, contractors, engineers, manufacturers, dealers
in or vendors of all types of property including services.

&nbsp;&nbsp;&nbsp;&nbsp;(b) To exercise and enforce all rights and powers conferred by
or incidental to the ownership of any shares, stock, obligations or other securities including without prejudice to the generality of
the foregoing all such powers of veto or control as may be conferred by virtue of the holding by the Company of some special proportion
of the issued or nominal amount thereof, to provide managerial and other executive, supervisory and consultant services for or in relation
to any company in which the Company is interested upon such terms as may be thought fit.

&nbsp;&nbsp;&nbsp;&nbsp;(c) To purchase or otherwise acquire, to sell, exchange, surrender,
lease, mortgage, charge, convert, turn to account, dispose of and deal with real and personal property and rights of all kinds and, in
particular, mortgages, debentures, produce, concessions, options, contracts, patents, annuities, licences, stocks, shares, bonds, policies,
book debts, business concerns, undertakings, claims, privileges and choses in action of all kinds.

&nbsp;&nbsp;&nbsp;&nbsp;(d) To subscribe for, conditionally or unconditionally, to underwrite,
issue on commission or otherwise, take, hold, deal in and convert stocks, shares and securities of all kinds and to enter into partnership
or into any arrangement for sharing profits, reciprocal concessions or cooperation with any person or company and to promote and aid
in promoting, to constitute, form or organise any company, syndicate or partnership of any kind, for the purpose of acquiring and undertaking
any property and liabilities of the Company or of advancing, directly or indirectly, the objects of the Company or for any other purpose
which the Company may think expedient.

&nbsp;&nbsp;&nbsp;&nbsp;(e) To stand surety for or to guarantee, support or secure the
performance of all or any of the obligations of any person, firm or company whether or not related or affiliated to the Company in any
manner and whether by personal covenant or by mortgage, charge or lien upon the whole or any part of the undertaking, property and assets
of the Company, both present and future, including its uncalled capital or by any such method and whether or not the Company shall receive
valuable consideration thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(f) To engage in or carry on any other lawful trade, business
or enterprise which may at any time appear to the Directors of the Company capable of being conveniently carried on in conjunction with
any of the aforementioned businesses or activities or which may appear to the Directors or the Company likely to be profitable to the
Company.

In the interpretation of this Memorandum of Association in general and of this Clause 3 in particular no object, business or power specified or mentioned shall be limited or restricted by reference to or inference from any other object, business or power, or the name of the Company, or by the juxtaposition of two or more objects, businesses or powers and that, in the event of any ambiguity in this clause or elsewhere in this Memorandum of Association, the same shall be resolved by such interpretation and construction as will widen and enlarge and not restrict the objects, businesses and powers of and exercisable by the Company.

4. Except as prohibited or limited by the Companies Act (as revised),
the Company shall have full power and authority to carry out any object and shall have and be capable of from time to time and at all
times exercising any and all of the powers at any time or from time to time exercisable by a natural person or body corporate in doing
in any part of the world whether as principal, agent, contractor or otherwise whatever may be considered by it necessary for the attainment
of its objects and whatever else may be considered by it as incidental or conducive thereto or consequential thereon, including, but
without in any way restricting the generality of the foregoing, the power to make any alterations or amendments to this Memorandum of
Association and the Articles of Association of the Company considered necessary or convenient in the manner set out in the Articles of
Association of the Company, and the power to do any of the following acts or things, viz: to pay all expenses of and incidental to the
promotion, formation and incorporation of the Company; to register the Company to do business in any other jurisdiction; to sell, lease
or dispose of any property of the Company; to draw, make, accept, endorse, discount, execute and issue promissory notes, debentures,
bills of exchange, bills of lading, warrants and other negotiable or transferable instruments; to lend money or other assets and to act
as guarantors; to borrow or raise money on the security of the undertaking or on all or any of the assets of the Company including uncalled
capital or without security; to invest monies of the Company in such manner as the Directors determine; to promote other companies; to
sell the undertaking of the Company for cash or any other consideration; to distribute assets in specie to Members of the Company; to
make charitable or benevolent donations; to pay pensions or gratuities or provide other benefits in cash or kind to Directors, officers,
employees, past or present and their families; to purchase Directors and officers liability insurance and to carry on any trade or business
and generally to do all acts and things which, in the opinion of the Company or the Directors, may be conveniently or profitably or usefully
acquired and dealt with, carried on, executed or done by the Company in connection with the business aforesaid PROVIDED THAT the Company
shall only carry on the businesses for which a licence is required under the laws of the Cayman Islands when so licensed under the terms
of such laws.

5. The liability of each Member is limited to the amount from time
to time unpaid on such Member's shares.

6. The share capital of the Company is US$200,000,000.00 divided
into (a) 20,000,000,000 series A ordinary shares of par value US$0.008 each and (b) 5,000,000,000 series B ordinary shares of par value
US$0.008 each with power for the Company insofar as is permitted by law, to redeem or purchase any of its shares and to increase or reduce
the said capital subject to the provisions of the Companies Act (as revised) and the Articles of Association and to issue any part of
its capital, whether original, redeemed or increased with or without any preference, priority or special privilege or subject to any
postponement of rights or to any conditions or restrictions and so that unless the conditions of issue shall otherwise expressly declare
every issue of shares whether declared to be preference or otherwise shall be subject to the powers hereinbefore contained PROVIDED ALWAYS
that, notwithstanding any provision to the contrary contained in this Memorandum of Association, the Company shall have no power to issue
bearer shares, warrants, coupons or certificates.

7. If the Company is registered as exempted, its operations will
be carried on subject to the provisions of Section 174 of the Companies Act (as revised) and, subject to the provisions of the Companies
Act (as revised) and the Articles of Association, it shall have the power to register by way of continuation as a body corporate limited
by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands.

THE COMPANIES ACT (AS REVISED)

Company Limited by Shares

**AMENDED AND** 

**RESTATED**

ARTICLES OF ASSOCIATION

OF

Lichen International Limited<br> 理臣国际有限公司

(Adopted by way of a special resolution passed on December 30, 2025)

1. In these Articles Table A in the Schedule to the Statute does
not apply and, unless there be something in the subject or context inconsistent therewith,

---

| | |
|:---|:---|
| "Articles" | means the Articles as originally framed or as from time to time altered by Special Resolution. |
| "Auditors" | means the persons for the time being performing the duties of auditors of the Company. |
| "Company" | means the above named Company. |
| "debenture" | means debenture stock, mortgages, bonds and any other such securities of the Company whether constituting a charge on the assets of the Company or not. |
| "Directors" | means the directors for the time being of the Company. |
| "dividend" | includes bonus. |
| "Designated Stock Exchanges" | means NASDAQ Capital Markets in the United States of America for so long as the Company's Shares are there listed and any other stock exchange on which the Company's Shares are listed for trading. |
| "Electronic Voting System" | means any internet-based or software-enabled system approved by the Directors that allows Members to cast votes remotely. |
| "fully paid" | shall bear the meaning as ascribed to it in the Statute. |
| "Member" | shall bear the meaning as ascribed to it in the Statute. |
| "month" | means calendar month. |
| "ordinary resolution" | shall mean (a) a resolution passed by a simple majority of the votes cast by such Members as, being entitled so to do, vote in person or, by proxy or, in the cases of Members which are corporations, by their respective duly authorised representatives at a general meeting held in accordance with these Articles; or (b) a written resolution signed by all of the Members entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Members and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed. |
| "paid-up" | means paid-up and/or credited as paid-up. |
| "Series A Ordinary Shares" | shall mean series A ordinary shares in the capital of the Company with a nominal or par value of US$0.008 each. |
| "Series B Ordinary Shares" | shall mean series B ordinary shares in the capital of the Company with a nominal or par value of US$0.008 each. |
| "registered office" | means the registered office for the time being of the Company. |

---

---

| | |
|:---|:---|
| "Seal" | means the common seal of the Company and includes every duplicate seal. |
| "Secretary" | includes an Assistant Secretary and any person appointed to perform the duties of Secretary of the Company. |
| "share" | includes a fraction of a share. |
| "Special Resolution" | shall mean (a) a resolution passed by a majority of not less than 2/3 of the votes cast by such Members as, being entitled so to do, vote in person or by proxy or, in the cases of Members which are corporations, by their respective duly authorised representatives at a general meeting held in accordance with these Articles; or (b) a written resolution signed by all of the Members entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Members and the effective date of the resolution so adopted shall be the date on which the instrument, or the last of such instruments, if more than one, is executed. |
| "Statute" | means the Companies Act of the Cayman Islands as amended and every statutory modification or re-enactment thereof for the time being in force. |
| "Telephonic Voting System" | means any system using telecommunication technology approved by the Directors for securely collecting votes from Members. |
| "written" and "in writing" | include all modes of representing or reproducing words in visible form. |

---

Words importing the singular number only include the plural number and vice versa.

Words importing the masculine gender only include the feminine gender.

Words importing persons only include corporations.

2. The business of the Company may be commenced as soon after incorporation
as the Directors shall see fit, notwithstanding that part only of the shares may have been allotted.

3. The Directors may pay, out of the capital or any other monies
of the Company, all expenses incurred in or about the formation and establishment of the Company including the expenses of registration.

**CERTIFICATES FOR SHARES**

4. Certificates representing shares of the Company shall be in such
form as shall be determined by the Directors. Such certificates may be under Seal. All certificates for shares shall be consecutively
numbered or otherwise identified and shall specify the shares to which they relate. The name and address of the person to whom the shares
represented thereby are issued, with the number of shares and date of issue, shall be entered in the register of Members of the Company.
All certificates surrendered to the Company for transfer shall be cancelled and no new certificate shall be issued until the former certificate
for a like number of shares shall have been surrendered and cancelled. The Directors may authorise certificates to be issued with the
seal and authorised signature(s) affixed by some method or system of mechanical process.

5. Notwithstanding Article 4 of these Articles, if a share certificate
be defaced, lost or destroyed, it may be renewed on payment of a fee of one dollar (US$l.00) or such less sum and on such terms (if any)
as to evidence and indemnity and the payment of the expenses incurred by the Company in investigating evidence, as the Directors may
prescribe.

**RIGHTS ATTACHING TO SHARES**

---

| | |
|:---|:---|
| 5A. | The holders of Series A Ordinary Shares and Series B Ordinary Shares shall at all times vote together as one class on all resolutions of the Members. On each resolution subject to a vote at general meetings on a poll, each Series A Ordinary Share shall entitle its holder to one vote and each Series B Ordinary Share shall entitle its holder to ten votes. On each resolution subject to a vote at general meetings on a show of hands, each Series A Ordinary Share shall entitle its holder to one vote and each Series B Ordinary Share shall entitle its holder to ten votes. |

---

**CONVERSION OF SERIES B ORDINARY SHARES**

5B. A holder of Series B Ordinary Shares (a "Series B Holder") may at any time, by notice in writing to the Company ("Conversion Notice"), require the conversion of all or only some of the Series B Ordinary Shares held by him/her/it into Series A Ordinary Shares.

---

| | |
|:---|:---|
| 5C. | Those Series B Ordinary Shares specified in a Conversion Notice shall convert automatically on the date such Conversion Notice is served on the Company unless the Conversion Notice states that conversion is to be effective on some later date, or when any conditions specified in the Conversion Notice have been fulfilled, in which case conversion shall take effect on that later date, or when such conditions have been fulfilled (as the case may be) (the "Conversion Date"). |

---

---

| | |
|:---|:---|
| 5D. | Within five (5) days after the Conversion Date each Series B Holder shall deliver the share certificate (or an indemnity in a form reasonably satisfactory to the Directors in respect of any lost share certificate(s)) in respect of the Series B Ordinary Shares being converted to the Company at the office of its registered agent for the time being. |

---

5E. In the case where a conversion is subject to any condition(s) specified in the Conversion Notice being fulfilled, if such condition(s) has not been satisfied or waived by the relevant Series B Holder by the time of the Conversion Date such conversion shall be deemed not to have occurred.

---

| | |
|:---|:---|
| 5F. | On the Conversion Date, the relevant Series B Ordinary Shares (specified in the relevant Conversion Notice) shall without any further authority or actions stand converted into Series A Ordinary Shares on the basis of one fully paid Series A Ordinary Share for each Series B Ordinary Share held (the "Conversion") and the Series A Ordinary Shares resulting from the Conversion shall in all respects rank *pari passu* with the existing issued Series A Ordinary Shares. |

---

---

| | |
|:---|:---|
| 5G. | The registered agent of the Company shall, on the Conversion Date, enter the name of the Series B Holder on the register of members of the Company as the holder of the appropriate number of fully paid Series A Ordinary Shares in accordance with the Conversion and, subject to the relevant Series B Holder delivering his/her/its share certificate(s) (or an indemnity in a form reasonably acceptable to the Directors) in respect of the Series B Ordinary Shares being converted in accordance with Article 5D, the Company shall within ten (10) days of the Conversion Date forward to such Series B Holder by post to his/her/its address shown in the register of members, free of charge, a new share certificate for the appropriate number of fully paid Series A Ordinary Shares in accordance with the Conversion. |

---

**ISSUE OF SHARES**

6. Subject to the provisions, if any, in that behalf in the Memorandum
of Association and to any direction that may be given by the Company in general meeting and without prejudice to any special rights previously
conferred on the holders of existing shares, the Directors may allot, issue, grant options over or otherwise dispose of shares of the
Company (including fractions of a share) with or without preferred, deferred or other special rights or restrictions, whether in regard
to dividend, voting, return of capital or otherwise and to such persons, at such times and on such other terms as they think proper PROVIDED
ALWAYS that, notwithstanding any provision to the contrary contained in these Articles of Association, the Company shall be precluded
from issuing bearer shares, warrants, coupons or certificates.

7. The Company shall maintain a register of its Members and every
person whose name is entered as a Member in the register of Members shall be entitled without payment to receive within two months after
allotment or lodgement of transfer (or within such other period as the conditions of issue shall provide) one certificate for all his
shares or several certificates each for one or more of his shares upon payment of fifty cents (US$0.50) for every certificate after the
first or such less sum as the Directors shall from time to time determine provided that in respect of a share or shares held jointly
by several persons the Company shall not be bound to issue more than one certificate and delivery of a certificate for a share to one
of the several joint holders shall be sufficient delivery to all such holders.

**TRANSFER OF SHARES**

8. The instrument of transfer of any share shall be in writing and
shall be executed by or on behalf of the transferor and the transferor shall be deemed to remain the holder of a share until the name
of the transferee is entered in the register in respect thereof.

9. The Directors may in their absolute discretion decline to register
any transfer of shares which is not a fully paid share or on which the Company has a lien. If the Directors refuse to register a transfer
they shall notify the transferee within two months of such refusal.

10. The registration of transfers may be suspended at such time and
for such periods as the Directors may from time to time determine, provided always that such registration shall not be suspended for
more than 45 days in any year.

**REDEEMABLE SHARES**

11. (a) Subject to the provisions of the Statute and the Memorandum of Association, shares may be issued on the terms that they are, or at the option of the Company or the holder are, to be redeemed on such terms and in such manner as the Company, before the issue of the shares, may by Special Resolution determine and the rights attaching to any issued shares may, subject to the provisions of these Articles, by special resolution, be varied so as to provide that such shares are to be or are liable to be so redeemed.

(b) Subject to the provisions of the Statute and the Memorandum of Association, the Company may purchase its own shares (including fractions of a share), including any redeemable shares, provided that the manner of purchase has first been authorised by the Company in general meeting and may make payment therefor in any manner authorised by the Statute, including out of capital and provided that the Company may not redeem or purchase any of its shares if, as a result of the redemption or purchase, there would no longer be any issued shares of the Company other than shares held as treasury shares.

12. Subject to the provisions of these Articles, the manner and any
of the terms of any such redemption or purchase of shares may be determined by either the Company by ordinary resolution or by the Directors.
The Company may make a payment in respect of the redemption or purchase of its own shares otherwise than out of its profits, share premium
account, or the proceeds of a fresh issue of shares.

**TREASURY SHARES**

13. The Company may, subject to the provisions of the Law, acquire,
hold and dispose of its own shares as treasury shares.

**VARIATION OF RIGHTS OF SHARES**

14. If at any time the share capital of the Company is divided into
different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that
class) may, whether or not the Company is being wound up, be varied with the consent in writing of the holders of three-fourths of the
issued shares of that class, or with the sanction of a Special Resolution passed at a general meeting of the holders of the shares of
that class.

The provisions of these Articles relating to general meetings shall apply to every such general meeting of the holders of one class of shares except that the necessary quorum shall be one person holding or representing by proxy at least one-third of the issued shares of the class and that any holder of shares of the class present in person or by proxy may demand a show of hands.

15. The rights conferred upon the holders of the shares of any class
issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the shares of that class,
be deemed to be varied by the creation or issue of further shares ranking *pari passu* therewith.

**COMMISSION ON SALE OF SHARES**

16. The Company may in so far as the Statute from time to time permits
pay a commission to any person in consideration of his subscribing or agreeing to subscribe whether absolutely or conditionally for any
shares of the Company. Such commissions may be satisfied by the payment of cash or the lodgement of fully or partly paid-up shares or
partly in one way and partly in the other. The Company may also on any issue of shares pay such brokerage as may be lawful.

**NON-RECOGNITION OF TRUSTS**

17. No person shall be recognised by the Company as holding any share
upon any trust and the Company shall not be bound by or be compelled in any way to recognise (even when having notice thereof) any equitable,
contingent, future, or partial interest in any share, or any interest in any fractional part of a share, or (except only as is otherwise
provided by these Articles or the Statute) any other rights in respect of any share except an absolute right to the entirety thereof
in the registered holder.

**LIEN ON SHARES**

18. The Company shall have a first and paramount lien and charge on
all shares (not being a fully paid-up share) registered in the name of a Member (whether solely or jointly with others) for all debts,
liabilities or engagements to or with the Company (whether presently payable or not) by such Member or his estate, either alone or jointly
with any other person, whether a Member or not, but the Directors may at any time declare any share to be wholly or in part exempt from
the provisions of this Article. The registration of a transfer of any such share shall operate as a waiver of the Company's lien
(if any) thereon. The Company's lien (if any) on a share shall extend to all dividends or other monies payable in respect thereof.

19. The Company may sell, in such manner as the Directors think fit,
any shares on which the Company has a lien, but no sale shall be made unless a sum in respect of which the lien exists is presently payable,
nor until the expiration of fourteen days after a notice in writing stating and demanding payment of such part of the amount in respect
of which the lien exists as is presently payable, has been given to the registered holder or holders for the time being of the share,
or the person, of which the Company has notice, entitled thereto by reason of his death or bankruptcy.

20. To give effect to any such sale the Directors may authorise some
person to transfer the shares sold to the purchaser thereof. The purchaser shall be registered as the holder of the shares comprised
in any such transfer, and he shall not be bound to see to the application of the purchase money, nor shall his title to the shares be
affected by any irregularity or invalidity in the proceedings in reference to the sale.

21. The proceeds of such sale shall be received by the Company and
applied in payment of such part of the amount in respect of which the lien exists as is presently payable and the residue, if any, shall
(subject to a like lien for sums not presently payable as existed upon the shares before the sale) be paid to the person entitled to
the shares at the date of the sale.

**CALL ON SHARES**

22. (a) The Directors may from time to time make calls upon the Members in respect of any monies unpaid on their shares (whether on account of the nominal value of the shares or by way of premium or otherwise) and not by the conditions of allotment thereof made payable at fixed terms, provided that no call shall be payable at less than one month from the date fixed for the payment of the last preceding call, and each Member shall (subject to receiving at least fourteen days notice specifying the time or times of payment) pay to the Company at the time or times so specified the amount called on the shares. A call may be revoked or postponed as the Directors may determine. A call may be made payable by instalments.

(b) A call shall be deemed to have been made at the time when the resolution of the Directors authorising such call was passed.

(c) The joint holders of a share shall be jointly and severally liable to pay all calls in respect thereof.

23. If a sum called in respect of a share is not paid before or on
a day appointed for payment thereof, the persons from whom the sum is due shall pay interest on the sum from the day appointed for payment
thereof to the time of actual payment at such rate not exceeding ten per cent per annum as the Directors may determine, but the Directors
shall be at liberty to waive payment of such interest either wholly or in part.

24. Any sum which by the terms of issue of a share becomes payable
on allotment or at any fixed date, whether on account of the nominal value of the share or by way of premium or otherwise, shall for
the purposes of these Articles be deemed to be a call duly made, notified and payable on the date on which by the terms of issue the
same becomes payable, and in the case of non-payment all the relevant provisions of these Articles as to payment of interest forfeiture
or otherwise shall apply as if such sum had become payable by virtue of a call duly made and notified.

25. The Directors may, on the issue of shares, differentiate between
the holders as to the amount of calls or interest to be paid and the times of payment.

26. (a) The Directors may, if they think fit, receive from any Member willing to advance the same, all or any part of the monies uncalled and unpaid upon any shares held by him, and upon all or any of the monies so advanced may (until the same would but for such advances, become payable) pay interest at such rate not exceeding (unless the Company in general meeting shall otherwise direct) seven per cent per annum, as may be agreed upon between the Directors and the Member paying such sum in advance.

(b) No such sum paid in advance of calls shall entitle the Member paying such sum to any portion of a dividend declared in respect of any period prior to the date upon which such sum would, but for such payment, become presently payable.

**FORFEITURE OF SHARES**

27. (a) If a Member fails to pay any call or instalment of a call or to make any payment required by the terms of issue on the day appointed for payment thereof, the Directors may, at any time thereafter during such time as any part of the call, instalment or payment remains unpaid, give notice requiring payment of so much of the call, instalment or payment as is unpaid, together with any interest which may have accrued and all expenses that have been incurred by the Company by reason of such non-payment. Such notice shall name a day (not earlier than the expiration of fourteen days from the date of giving of the notice) on or before which the payment required by the notice is to be made, and shall state that, in the event of non-payment at or before the time appointed the shares in respect of which such notice was given will be liable to be forfeited.

(b) If the requirements of any such notice as aforesaid are not complied with, any share in respect of which the notice has been given may at any time thereafter, before the payment required by the notice has been made, be forfeited by a resolution of the Directors to that effect. Such forfeiture shall include all dividends declared in respect of the forfeited share and not actually paid before the forfeiture.

(c) A forfeited share may be sold or otherwise disposed of on such terms and in such manner as the Directors think fit and at any time before a sale or disposition the forfeiture may be cancelled on such terms as the Directors think fit.

28. A person whose shares have been forfeited shall cease to be a
Member in respect of the forfeited shares, but shall, notwithstanding, remain liable to pay to the Company all monies which, at the date
of forfeiture were payable by him to the Company in respect of the shares together with interest thereon, but his liability shall cease
if and when the Company shall have received payment in full of all monies whenever payable in respect of the shares.

29. A certificate in writing under the hand of one Director or the
Secretary of the Company that a share in the Company has been duly forfeited on a date stated in the declaration shall be conclusive
evidence of the fact therein stated as against all persons claiming to be entitled to the share. The Company may receive the consideration
given for the share on any sale or disposition thereof and may execute a transfer of the share in favour of the person to whom the share
is sold or disposed of and he shall thereupon be registered as the holder of the share and shall not be bound to see to the application
of the purchase money, if any, nor shall his title to the share be affected by any irregularity or invalidity in the proceedings in reference
to the forfeiture, sale or disposal of the share.

30. The provisions of these Articles as to forfeiture shall apply
in the case of non-payment of any sum which, by the terms of issue of a share, becomes payable at a fixed time, whether on account of
the nominal value of the share or by way of premium as if the same had been payable by virtue of a call duly made and notified.

**REGISTRATION OF EMPOWERING INSTRUMENTS**

31. The Company shall be entitled to charge a fee not exceeding one
dollar (US$l.00) on the registration of every probate, letters of administration, certificate of death or marriage, power of attorney,
notice in lieu of distringas, or other instrument.

**TRANSMISSION OF SHARES**

32. In case of the death of a Member, the survivor or survivors where
the deceased was a joint holder, and the legal personal representatives of the deceased where he was a sole holder, shall be the only
persons recognised by the Company as having any title to his interest in the shares, but nothing herein contained shall release the estate
of any such deceased holder from any liability in respect of any shares which had been held by him solely or jointly with other persons.

33. (a) Any person becoming entitled to a share in consequence of the death or bankruptcy or liquidation or dissolution of a Member (or in any other way than by transfer) may, upon such evidence being produced as may from time to time be required by the Directors and subject as hereinafter provided, elect either to be registered himself as holder of the share or to make such transfer of the share to such other person nominated by him as the deceased or bankrupt person could have made and to have such person registered as the transferee thereof, but the Directors shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer of the share by that Member before his death or bankruptcy as the case may be.

(b) If the person so becoming entitled shall elect to be registered himself as holder he shall deliver or send to the Company a notice in writing signed by him stating that he so elects.

34. A person becoming entitled to a share by reason of the death or
bankruptcy or liquidation or dissolution of the holder (or in any other case than by transfer) shall be entitled to the same dividends
and other advantages to which he would be entitled if he were the registered holder of the share, except that he shall not, before being
registered as a Member in respect of the share, be entitled in respect of it to exercise any right conferred by membership in relation
to meetings of the Company PROVIDED HOWEVER that the Directors may at any time give notice requiring any such person to elect either
to be registered himself or to transfer the share and if the notice is not complied with within ninety days the Directors may thereafter
withhold payment of all dividends, bonuses or other monies payable in respect of the share until the requirements of the notice have
been complied with.

**AMENDMENT OF MEMORANDUM OF ASSOCIATION, CHANGE OF LOCATION OF<br> REGISTERED OFFICE & ALTERATION OF CAPITAL**

---

| | | |
|:---|:---|:---|
| 35. | (a) | Subject to and in so far as permitted by the provisions of the Statute, the Company may from time to time by ordinary resolution alter or amend its Memorandum of Association otherwise than with respect to its name and objects and may, without restricting the generality of the foregoing: |
|  | (i) | increase the share capital by such sum to be divided into shares of such amount or without nominal or par value as the resolution shall prescribe and with such rights, priorities and privileges annexed thereto, as the Company in general meeting may determine. |
|  | (ii) | consolidate and divide all or any of its share capital into shares of larger amount than its existing shares; |
|  | (iii) | by subdivision of its existing shares or any of them divide the whole or any part of its share capital into shares of smaller amount than is fixed by the Memorandum of Association or into shares without nominal or par value; |
|  | (iv) | cancel any shares which at the date of the passing of the resolution have not been taken or agreed to be taken by any person. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(b) All new shares created hereunder shall be subject to the same provisions with reference to the payment of calls, liens, transfer, transmission, forfeiture and otherwise as the shares in the original share capital.

(c) Subject to the provisions of the Statute, the Company may by Special Resolution change its name or alter its objects.

(d) Without prejudice to Article 11 hereof and subject to the provisions of the Statute, the Company may by Special Resolution reduce its share capital and any capital redemption reserve fund.

(e) Subject to the provisions of the Statute, the Company may by resolution of the Directors change the location of its registered office.

**CLOSING REGISTER OF MEMBERS OR FIXING RECORD DATE**

36. For the purpose of determining Members entitled to notice of or
to vote at any meeting of Members or any adjournment thereof, or Members entitled to receive payment of any dividend, or in order to
make a determination of Members for any other proper purpose, the Directors of the Company may provide that the register of Members shall
be closed for transfers for a stated period but not to exceed in any case 40 days. If the register of Members shall be so closed for
the purpose of determining Members entitled to notice of or to vote at a meeting of Members such register shall be so closed for at least
ten days immediately preceding such meeting and the record date for such determination shall be the date of the closure of the register
of Members.

37. In lieu of or apart from closing the register of Members, the
Directors may fix in advance a date as the record date for any such determination of Members entitled to notice of or to vote at a meeting
of the Members and for the purpose of determining the Members entitled to receive payment of any dividend the Directors may, at or within
90 days prior to the date of declaration of such dividend fix a subsequent date as the record date for such determination.

38. If the register of Members is not so closed and no record date
is fixed for the determination of Members entitled to notice of or to vote at a meeting of Members or Members entitled to receive payment
of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the Directors declaring such
dividend is adopted, as the case may be, shall be the record date for such determination of Members. When a determination of Members
entitled to vote at any meeting of Members has been made as provided in this section, such determination shall apply to any adjournment
thereof.

**GENERAL MEETING**

39. The Company
may, but shall not be obligated to, in each year hold a general meeting as an annual general meeting, which, if held, shall be convened
by the Directors, in accordance with these Articles.

40. (a) The Directors may whenever they think fit, and they shall
on the requisition of Members of the Company holding at the date of the deposit of the requisition not less than one-tenth of such of
the paid-up capital of the Company as at the date of the deposit carries the right of voting at general meetings of the Company, proceed
to convene a general meeting of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The requisition must state the objects of the meeting and
must be signed by the requisitionists and deposited at the registered office of the Company and may consist of several documents in like
form each signed by one or more requisitionists.

&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Directors do not within 21 days from the date of the deposit of the requisition duly proceed to convene a general meeting, the requisitionists, or any of them representing more than one-half of the total voting rights of all of them, may themselves convene a general meeting, but any meeting so convened shall not be held after the expiration of three months after the expiration of the said 21 days.

(d) A general meeting convened as aforesaid by requisitionists shall be convened in the same manner as nearly as possible as that in which general meetings are to be convened by Directors.

**NOTICE OF GENERAL MEETINGS**

41. At least five days notice shall be given of an annual general
meeting or any other general meeting. Every notice shall be exclusive of the day on which it is given or deemed to be given and of the
day for which it is given and shall specify the place, the day and the hour of the meeting and the general nature of the business and
shall be given in manner hereinafter mentioned or in such other manner if any as may be prescribed by the Company PROVIDED that a general
meeting of the Company shall, whether or not the notice specified in this regulation has been given and whether or not the provisions
of Article 40 have been complied with, be deemed to have been duly convened if it is so agreed:

&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of a general meeting called as an annual general
meeting by all the Members entitled to attend and vote thereat or their proxies; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any other general meeting by a majority in
number of the Members having a right to attend and vote at the meeting, being a majority together holding not less than 75 per cent in
nominal value or in the case of shares without nominal or par value 75 per cent of the shares in issue, or their proxies.

42. The accidental omission to give notice of
a general meeting to, or the non-receipt of notice of a meeting by any person entitled to receive notice shall not invalidate the proceedings
of that meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

43. No business shall be transacted at any general meeting unless
a quorum of Members is present at the time when the meeting proceeds to business; the quorum shall be:

&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Company has only one Member: that Member; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Company has more than one Member

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. subject to Article 43(b)(ii) below, two or more Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. subject to Article 45, for so long as any shares are listed
on a Designated Stock Exchange, one or more Members holding shares that represent not less than one-third of the voting rights of the
outstanding issued shares carrying the right to vote at such general meeting.

44. A resolution (including a Special Resolution)
 in writing (in one or more counterparts) signed by all Members for the time being entitled to receive notice of and to attend and vote
 at general meetings (or being corporations by their duly authorised representatives) shall be as valid and effective as if the same had
 been passed at a general meeting of the Company duly convened and held.

45. If a quorum is not present within half an hour from the time appointed
for the meeting to commence or if during such a meeting a quorum ceases to be present, the meeting, if convened upon a Members'
requisition, shall be dissolved, and in any other case it shall stand adjourned to the same day in the next week at the same time and/or
place or to such other day, time and/or place as the Directors may determine, and if at the adjourned meeting a quorum is not present
within half an hour from the time appointed for the meeting to commence, the Members present shall be a quorum.

46. The Chairman, if any, of the Board of Directors shall preside
as Chairman at every general meeting of the Company, or if there is no such Chairman, or if he shall not be present within fifteen minutes
after the time appointed for the holding of the meeting, or is unwilling to act, the Directors present shall elect one of their number
to be Chairman of the meeting.

47. If at any general meeting no Director is willing to act as
Chairman or if no Director is present within fifteen minutes after the time appointed for holding the meeting, the Members present shall
choose one of their number to be Chairman of the meeting.

48. The Chairman may, with the consent of any general meeting
duly constituted hereunder, and shall if so directed by the meeting, adjourn the meeting from time to time and from place to place, but
no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment
took place. When a general meeting is adjourned for 30 days or more, notice of the adjourned meeting shall be given as in the case of
an original meeting; save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted
at an adjourned general meeting.

49. At any general meeting a resolution put to the vote of the
meeting shall be decided on a show of hands unless a poll is, before or on the declaration of the result of the show of hands, demanded
by the Chairman or any other Member present in person or by proxy PROVIDED HOWEVER that so long as any share are listed on the Nasdaq
Capital Markets in the United States of America or any other stock exchange for trading, at any general meeting a resolution put to the
vote of the meeting shall be decided on a poll.

50. Unless a show of hand be so demanded a declaration by the
Chairman that a resolution has on a poll been carried, or carried unanimously, or by a particular majority, or lost, and an entry to
that effect in the Company's Minute Book containing the Minutes of the proceedings of the meeting shall be conclusive evidence
of that fact without proof of the number or proportion of the votes recorded in favour of or against such resolution.

51. The demand for a show of hand may be withdrawn.

52. Except as provided in Article 54, if a show of hand is duly
demanded it shall be taken in such manner as the Chairman directs and the result of the show of hand shall be deemed to be the resolution
of the general meeting at which the show of hand was demanded.

53. In the case of an equality of votes, whether on a show of
hands or on a poll, the Chairman of the general meeting at which the poll takes place or at which the show of hand is demanded, shall
be entitled to a second or casting vote.

54. A show of hand demanded on the election of a Chairman or
on a question of adjournment shall be taken forthwith. A show of hand demanded on any other question shall be taken at such time as the
Chairman of the general meeting directs and any business other than that upon which a show of hand has been demanded or is contingent
thereon may be proceeded with pending the taking of the show of hand.

**VOTES OF MEMBERS**

55. The holders of Series A Ordinary Shares and Series B Ordinary
Shares shall at all times vote together as one class on all resolutions of the Members. At each general meeting of the Company, on a
poll or a show of hands each Member who is present in person or by proxy (or, in the case of a shareholder being a corporation, by its
duly authorized representative) shall have one (1) vote for each Series A Ordinary Share and ten (10) votes for each Series B Ordinary
Share which such Member holds.

56. In the case of joint holders of record the vote of the senior
who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the other joint holders, and for
this purpose seniority shall be determined by the order in which the names stand in the register of Members.

57. A Member of unsound mind, or in respect of whom an order
has been made by any court, having jurisdiction in lunacy, may vote, whether on a show of hands or on a poll, by his committee, receiver,
curator bonis, or other person in the nature of a committee, receiver or curator bonis appointed by that court, and any such committee,
receiver, curator bonis or other persons may vote by proxy.

58. No Member shall be entitled to vote at any general meeting
unless he is registered as a shareholder of the Company on the record date for such meeting nor unless all calls or other sums presently
payable by him in respect of shares in the Company have been paid.

59. No objection shall be raised to the qualification of any
voter except at the general meeting or adjourned general meeting at which the vote objected to is given or tendered and every vote not
disallowed at such general meeting shall be valid for all purposes. Any such objection made in due time shall be referred to the Chairman
of the general meeting whose decision shall be final and conclusive.

60. On a poll or on a show of hands votes may be given either
personally or by proxy.

**PROXIES**

61. The instrument appointing a proxy shall be in writing and
shall be executed under the hand of the appointor or of his attorney duly authorised in writing, or, if the appointor is a corporation
under the hand of an officer or attorney duly authorised in that behalf. A proxy need not be a Member of the Company.

62. The instrument appointing a proxy shall be deposited at the
registered office of the Company or at such other place as is specified for that purpose in the notice convening the meeting no later
than the time for holding the meeting, or adjourned meeting provided that the Chairman of the meeting may at his discretion direct that
an instrument of proxy shall be deemed to have been duly deposited upon receipt of telex, cable, telecopy, email, secure electronic submission,
or telephonic confirmation from the appointor that the instrument of proxy duly signed is in the course of transmission to the Company.
Votes submitted through an Electronic Voting System or a Telephonic Voting System shall be treated as validly cast and equivalent to
votes cast in person or by proxy at the meeting.

63. The instrument appointing a proxy may be in any usual or
common form and may be expressed to be for a particular meeting or any adjournment thereof or generally until revoked. An instrument
appointing a proxy shall be deemed to include the power to demand or join or concur in demanding a show of hands.

64. 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 proxy or of the authority
under which the proxy was executed, or the transfer of the share in respect of which the proxy is given provided that no intimation in
writing of such death, insanity, revocation or transfer as aforesaid shall have been received by the Company at the registered office
before the commencement of the general meeting, or adjourned meeting at which it is sought to use the proxy.

65. Any corporation which is a Member of record of the Company
may in accordance with its Articles or in the absence of such provision by resolution of its Directors or other governing body authorise
such person as it thinks fit to act as its representative at any meeting of the Company or of any class of Members of the Company, and
the person so authorised shall be entitled to exercise the same powers on behalf of the corporation which he represents as the corporation
could exercise if it were an individual Member of record of the Company.

66. Shares of its own capital belonging to the Company or held
by it in a fiduciary capacity shall not be voted, directly or indirectly, at any meeting and shall not be counted in determining the
total number of outstanding shares at any given time.

**DIRECTORS**

67. There shall be a Board of Directors consisting of not less
than one or more than twelve persons (exclusive of alternate Directors) PROVIDED HOWEVER that the Company may from time to time by ordinary
resolution or by resolution of the Directors increase or reduce the limits in the number of Directors. The first Directors of the Company
shall be determined in writing by, or appointed by a resolution of, the subscribers of the Memorandum of Association or a majority of
them.

68. The remuneration to be paid to the Directors shall be such
remuneration as the Directors shall determine. Such remuneration shall be deemed to accrue from day to day. The Directors shall also
be entitled to be paid their travelling, hotel and other expenses properly incurred by them in going to, attending and returning from
meetings of the Directors, or any committee of the Directors, or general meetings of the Company, or otherwise in connection with the
business of the Company, or to receive a fixed allowance in respect thereof as may be determined by the Directors from time to time,
or a combination partly of one such method and partly the other.

69. The Directors may by resolution award special remuneration
to any Director of the Company undertaking any special work or services for, or undertaking any special mission on behalf of, the Company
other than his ordinary routine work as a Director. Any fees paid to a Director who is also counsel or solicitor to the Company, or otherwise
serves it in a professional capacity shall be in addition to his remuneration as a Director.

70. A Director or alternate Director may hold any other office
or place of profit under the Company (other than the office of Auditor) in conjunction with his office of Director for such period and
on such terms as to remuneration and otherwise as the Directors may determine.

71. A Director or alternate Director may act by himself or his
firm in a professional capacity for the Company and he or his firm shall be entitled to remuneration for professional services as if
he were not a Director or alternate Director.

72. A shareholding qualification for Directors may be fixed by
the Company in general meeting, but unless and until so fixed no qualification shall be required.

73. A Director or alternate Director of the Company may be or
become a director or other officer of or otherwise interested in any company promoted by the Company or in which the Company may be interested
as shareholder or otherwise and no such Director or alternate Director shall be accountable to the Company for any remuneration or other
benefits received by him as a director or officer of, or from his interest in, such other company.

74. No person shall be disqualified from the office of Director
or alternate Director or prevented by such office from contracting with the Company, either as vendor, purchaser or otherwise, nor shall
any such contract or any contract or transaction entered into by or on behalf of the Company in which any Director or alternate Director
shall be in any way interested be or be liable to be avoided, nor shall any Director or alternate Director so contracting or being so
interested be liable to account to the Company for any profit realised by any such contract or transaction by reason of such Director
holding office or of the fiduciary relation thereby established. A Director (or his alternate Director in his absence) shall be at liberty
to vote in respect of any contract or transaction in which he is so interested as aforesaid PROVIDED HOWEVER that the nature of the interest
of any Director or alternate Director in any such contract or transaction shall be disclosed by him or the alternate Director appointed
by him at or prior to its consideration and any vote thereon.

75. A general notice that a Director or alternate Director is
a shareholder of any specified firm or company and is to be regarded as interested in any transaction with such firm or company shall
be sufficient disclosure under Article 74 and after such general notice it shall not be necessary to give special notice relating to
any particular transaction.

**ALTERNATE DIRECTORS**

76. Subject to the exception contained in Article 84, a Director
who expects to be unable to attend Directors' Meetings because of absence, illness or otherwise may appoint any person to be an
alternate Director to act in his stead and such appointee whilst he holds office as an alternate Director shall, in the event of absence
therefrom of his appointor, be entitled to attend meetings of the Directors and to vote thereat and to do, in the place and stead of
his appointor, any other act or thing which his appointor is permitted or required to do by virtue of his being a Director as if the
alternate Director were the appointor, other than appointment of an alternate to himself, and he shall *ipso facto* vacate office
if and when his appointor ceases to be a Director or removes the appointee from office. Any appointment or removal under this Article
shall be effected by notice in writing under the hand of the Director making the same.

**POWERS AND DUTIES OF DIRECTORS**

77. The business of the Company shall be managed by the Directors
(or a sole Director if only one is appointed) who may pay all expenses incurred in promoting, registering and setting up the Company,
and may exercise all such powers of the Company as are not, from time to time by the Statute, or by these Articles, or such regulations,
being not inconsistent with the aforesaid, as may be prescribed by the Company in general meeting required to be exercised by the Company
in general meeting PROVIDED HOWEVER that no regulations made by the Company in general meeting shall invalidate any prior act of the
Directors which would have been valid if that regulation had not been made.

78. The Directors may from time to time and at any time by powers
of attorney appoint any company, firm, person or body of persons, whether nominated directly or indirectly by the Directors, to be the
attorney or attorneys of the Company for such purpose and with such powers, authorities and discretions (not exceeding those vested in
or exercisable by the Directors under these Articles) and for such period and subject to such conditions as they may think fit, and any
such powers of attorney may contain such provisions for the protection and convenience of persons dealing with any such attorneys as
the Directors may think fit and may also authorise any such attorney to delegate all or any of the powers, authorities and discretions
vested in him.

79. All cheques, promissory notes, drafts, bills of exchange
and other negotiable instruments and all receipts for monies paid to the Company shall be signed, drawn, accepted, endorsed or otherwise
executed as the case may be in such manner as the Directors shall from time to time by resolution determine.

80. The Directors shall cause minutes to be made in books provided
for the purpose:

&nbsp;&nbsp;&nbsp;&nbsp;(a) of all appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;(b) of the names of the Directors (including those represented
thereat by an alternate or by proxy) present at each meeting of the Directors and of any committee of the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;(c) of all resolutions and proceedings at all meetings of the
Company and of the Directors and of committees of Directors.

81. The Directors on behalf of the Company may pay a gratuity
or pension or allowance on retirement to any Director who has held any other salaried office or place of profit with the Company or to
his widow or dependants and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension
or allowance.

82. The Directors may exercise all the powers of the Company
to borrow money and to mortgage or charge its undertaking, property and uncalled capital or any part thereof and to issue debentures,
debenture stock and other securities whether outright or as security for any debt, liability or obligation of the Company or of any third
party.

**MANAGEMENT**

83. (a) The Directors may from time to time provide for the management
of the affairs of the Company in such manner as they shall think fit and the provisions contained in the three next following paragraphs
shall be without prejudice to the general powers conferred by this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors from time to time and at any time may establish
any committees, local boards or agencies for managing any of the affairs of the Company and may appoint any persons to be members of
such committees or local boards or any managers or agents and may fix their remuneration.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The Directors from time to time and at any time may delegate
to any such committee, local board, manager or agent any of the powers, authorities and discretions for the time being vested in the
Directors and may authorise the members for the time being of any such local board, or any of them to fill up any vacancies therein and
to act notwithstanding vacancies and any such appointment or delegation may be made on such terms and subject to such conditions as the
Directors may think fit and the Directors may at any time remove any person so appointed and may annul or vary any such delegation, but
no person dealing in good faith and without notice of any such annulment or variation shall be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Any such delegates as aforesaid may be authorised by the
Directors to subdelegate all or any of the powers, authorities, and discretions for the time being vested in them.

**MANAGING DIRECTORS**

84. The Directors may, from time to time, appoint one or more
of their body (but not an alternate Director) to the office of Managing Director for such term and at such remuneration (whether by way
of salary, or commission, or participation in profits, or partly in one way and partly in another) as they may think fit but his appointment
shall be subject to determination *ipso facto* if he ceases from any cause to be a Director and no alternate Director appointed
by him can act in his stead as a Director or Managing Director.

85. The Directors may entrust to and confer upon a Managing Director
any of the powers exercisable by them upon such terms and conditions and with such restrictions as they may think fit and either collaterally
with or to the exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers.

**PROCEEDINGS OF DIRECTORS**

86. Except as otherwise provided by these Articles, the Directors
shall meet together for the despatch of business, convening, adjourning and otherwise regulating their meetings as they think fit. Questions
arising at any meeting shall be decided by a majority of votes of the Directors and alternate Directors present at a meeting at which
there is a quorum, the vote of an alternate Director not being counted if his appointor be present at such meeting. In case of an equality
of votes, the Chairman shall have a second or casting vote.

87. A Director or alternate Director may, and the Secretary on
the requisition of a Director or alternate Director shall, at any time summon a meeting of the Directors by notice in writing to every
Director and alternate Director which notice shall set forth the general nature of the business to be considered unless notice is waived
by all the Directors (or their alternates) either at, before or after the meeting is held and PROVIDED FURTHER if notice is given in
person, by cable, telex or telecopy the same shall be deemed to have been given on the day it is delivered to the Directors or transmitting
organisation as the case may be. The provisions of Article 42 shall apply *mutatis mutandis* with respect to notices of meetings
of Directors.

88. The quorum necessary for the transaction of the business
of the Directors may be fixed by the Directors and unless so fixed shall be two, a Director and his appointed alternate Director being
considered only one person for this purpose, PROVIDED ALWAYS that if there shall at any time be only a sole Director the quorum shall
be one. For the purposes of this Article an alternate Director or proxy appointed by a Director shall be counted in a quorum at a meeting
at which the Director appointing him is not present.

89. The continuing Directors may act notwithstanding any vacancy
in their body, but if and so long as their number is reduced below the number fixed by or pursuant to these Articles as the necessary
quorum of Directors the continuing Directors or Director may act for the purpose of increasing the number of Directors to that number,
or of summoning a general meeting of the Company, but for no other purpose.

90. The Directors may elect a Chairman of their Board and determine
the period for which he is to hold office; but if no such Chairman is elected, or if at any meeting the Chairman is not present within
five minutes after the time appointed for holding the same, the Directors present may choose one of their number to be Chairman of the
meeting.

91. The Directors may delegate any of their powers to committees
consisting of such member or members of the Board of Directors (including Alternate Directors in the absence of their appointors) as
they think fit; any committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed
on it by the Directors.

92. A committee may meet and adjourn as it thinks proper. Questions
arising at any meeting shall be determined by a majority of votes of the members present, and in the case of an equality of votes the
Chairman shall have a second or casting vote.

93. All acts done by any meeting of the Directors or of a committee
of Directors (including any person acting as an alternate Director) shall, notwithstanding that it be afterwards discovered that there
was some defect in the appointment of any Director or alternate Director, or that they or any of them were disqualified, be as valid
as if every such person had been duly appointed and qualified to be a Director or alternate Director as the case may be.

94. Members of the Board of Directors or of any committee thereof
may participate in a meeting of the Board or of such committee by means of conference telephone or similar communications equipment by
means of which all persons participating in the meeting can hear each other and participation in a meeting pursuant to this provision
shall constitute presence in person at such meeting. A resolution in writing (in one or more counterparts), signed by all the Directors
for the time being or all the members of a committee of Directors (an alternate Director being entitled to sign such resolution on behalf
of his appointor) shall be as valid and effectual as if it had been passed at a meeting of the Directors or committee as the case may
be duly convened and held.

95. (a) A Director may be represented at any meetings of the
Board of Directors by a proxy appointed by him in which event the presence or vote of the proxy shall for all purposes be deemed to be
that of the Director.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of Articles 61-64 shall *mutatis mutandis* apply to the appointment of proxies by Directors.

**VACATION OF OFFICE OF DIRECTOR**

96. The office of a Director shall be vacated:

&nbsp;&nbsp;&nbsp;&nbsp;(a) if he gives notice in writing to the Company that he resigns
the office of Director;

&nbsp;&nbsp;&nbsp;&nbsp;(b) if he absents himself (without being represented by proxy
or an alternate Director appointed by him) from three consecutive meetings of the Board of Directors without special leave of absence
from the Directors, and they pass a resolution that he has by reason of such absence vacated office;

&nbsp;&nbsp;&nbsp;&nbsp;(c) if he dies, becomes bankrupt or makes any arrangement or
composition with his creditors generally;

&nbsp;&nbsp;&nbsp;&nbsp;(d) if he is found a lunatic or becomes of unsound mind.

**APPOINTMENT AND REMOVAL OF DIRECTORS**

97. The Company may by ordinary resolution or by resolution of
the Directors appoint any persons to be a Director and may in like manner remove any Director and may in like manner appoint another
person in his instead.

98. The Directors shall have power at any time and from time
to time to appoint any person to be a Director, either to fill a casual vacancy or as an addition to the existing Directors but so that
the total number of Directors (exclusive of alternate Directors) shall not at any time exceed the number fixed in accordance with these
Articles.

**PRESUMPTION OF ASSENT**

99. A Director of the Company who is present at a meeting of
the Board of Directors at which action on any Company matter is taken shall be presumed to have assented to the action taken unless his
dissent shall be entered in the Minutes of the meeting or unless he shall file his written dissent from such action with the person acting
as the Secretary of the meeting before the adjournment thereof or shall forward such dissent by registered mail to such person immediately
after the adjournment of the meeting. Such right to dissent shall not apply to a Director who voted in favour of such action.

**SEAL**

100. (a) The Company may, if the Directors so determine, have
a Seal which shall, subject to paragraph (c) hereof, only be used by the authority of the Directors or of a committee of the Directors
authorised by the Directors in that behalf and every instrument to which the Seal has been affixed shall be signed by one person who
shall be either a Director or the Secretary or Secretary-Treasurer or some person appointed by the Directors for the purpose.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company may have for use in any place or places outside
the Cayman Islands a duplicate Seal or Seals each of which shall be a facsimile of the Common Seal of the Company and, if the Directors
so determine, with the addition on its face of the name of every place where it is to be used.

&nbsp;&nbsp;&nbsp;&nbsp;(c) A Director, Secretary or other officer or representative
or attorney may without further authority of the Directors affix the Seal of the Company over his signature alone to any document of
the Company required to be authenticated by him under Seal or to be filed with the Registrar of Companies in the Cayman Islands or elsewhere
wheresoever.

&nbsp;&nbsp;&nbsp;&nbsp;(d) A document to be executed as a Deed shall be executed by
a Director or other person authorised by the Directors for that purpose.

**OFFICERS**

101. The Company may have officers appointed by the Directors
as they consider necessary, all for such terms, at such remuneration and to perform such duties, and subject to such provisions as to
disqualification and removal as the Directors from time to time prescribe.

**DIVIDENDS, DISTRIBUTIONS AND RESERVE**

102. Subject to the Statute, the Directors may from time to time
declare dividends (including interim dividends) and distributions on shares of the Company outstanding and authorise payment of the same
out of the funds of the Company lawfully available therefore.

103. The Directors may, before declaring any dividends or distributions,
set aside such sums as they think proper as a reserve or reserves which shall at the discretion of the Directors, be applicable for any
purpose of the Company and pending such application may, at the like discretion, be employed in the business of the Company.

104. No dividend or distribution shall be payable except out of
the profits of the Company, realised or unrealised, or out of the share premium account or as otherwise permitted by the Statute.

105. Subject to the rights of persons, if any, entitled to shares
with special rights as to dividends or distributions, if dividends or distributions are to be declared on a class of shares they shall
be declared and paid according to the amounts paid or credited as paid on the shares of such class outstanding on the record date for
such dividend or distribution as determined in accordance with these Articles but no amount paid or credited as paid on a share in advance
of calls shall be treated for the purpose of this Article as paid on the share.

106. The Directors may deduct from any dividend or distribution
payable to any Member all sums of money (if any) presently payable by him to the Company on account of calls or otherwise.

107. The Directors may declare that any dividend or distribution
be paid wholly or partly by the distribution of specific assets and in particular of paid up shares, debentures, or debenture stock of
any other company or in any one or more of such ways and where any difficulty arises in regard to such distribution, the Directors may
settle the same as they think expedient and in particular may issue fractional certificates and fix the value for distribution of such
specific assets or any part thereof and may determine that cash payments shall be made to any Members upon the footing of the value so
fixed in order to adjust the rights of all Members and may vest any such specific assets in trustees as may seem expedient to the Directors.

108. Any dividend, distribution, interest or other monies payable
in cash in respect of shares may be paid by cheque or warrant sent through the post directed to the registered address of the holder
or, in the case of joint holders, to the holder who is first named on the register of Members or to such person and to such address as
such holder or joint holders may in writing direct. Every such cheque or warrant shall be made payable to the order of the person to
whom it is sent. Any one of two or more joint holders may give effectual receipts for any dividends, bonuses, or other monies payable
in respect of the share held by them as joint holders.

109. No dividend or distribution shall bear interest against the
Company.

**CAPITALISATION**

110. The Company may upon the recommendation of the Directors
by ordinary resolution authorise the Directors to capitalise any sum standing to the credit of any of the Company's reserve accounts
(including share premium account and capital redemption reserve fund) or any sum standing to the credit of profit and loss account or
otherwise available for distribution and to appropriate such sum to Members in the proportions in which such sum would have been divisible
amongst them had the same been a distribution of profits by way of dividend and to apply such sum on their behalf in paying up in full
unissued shares for allotment and distribution credited as fully paid up to and amongst them in the proportion aforesaid. In such event
the Directors shall do all acts and things required to give effect to such capitalisation, with full power to the Directors to make such
provisions as they think fit for the case of shares becoming distributable in fractions (including provisions whereby the benefit of
fractional entitlements accrue to the Company rather than to the Members concerned). The Directors may authorise any person to enter
on behalf of all of the Members interested into an agreement with the Company providing for such capitalisation and matters incidental
thereto and any agreement made under such authority shall be effective and binding on all concerned.

**BOOKS OF ACCOUNT**

111. The Directors shall cause proper books of account to be kept
with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) all sums of money received and expended by the Company and
the matters in respect of which the receipt or expenditure takes place;

&nbsp;&nbsp;&nbsp;&nbsp;(b) all sales and purchases of goods by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;(c) the assets and liabilities of the Company.

Proper books shall not be deemed to be kept if there are not kept such books of account as are necessary to give a true and fair view of the state of the Company's affairs and to explain its transactions.

112. The Directors shall from time to time determine whether and
to what extent and at what times and places and under what conditions or regulations the accounts and books of the Company or any of
them shall be open to the inspection of Members not being Directors and no Member (not being a Director) shall have any right of inspecting
any account or book or document of the Company except as conferred by Statute or authorised by the Directors or by the Company in general
meeting.

113. The Directors may from time to time cause to be prepared
and to be laid before the Company in general meeting profit and loss accounts, balance sheets, group accounts (if any) and such other
reports and accounts as may be required by law.

**AUDIT**

114. The Company may at any annual general meeting or by resolution
of the Directors appoint an Auditor or Auditors of the Company who shall hold office until the next annual general meeting and may fix
his or their remuneration.

115. The Directors may before the first annual general meeting
appoint an Auditor or Auditors of the Company who shall hold office until the first annual general meeting unless previously removed
by an ordinary resolution of the Members in general meeting in which case the Members at that meeting may appoint Auditors or by resolutions
of Directors in which case the Directors may appoint Auditors. The Directors may fill any casual vacancy in the office of Auditor but
while any such vacancy continues the surviving or continuing Auditor or Auditors, if any, may act. The remuneration of any appointed
by the Directors under this Article may be fixed by the Directors.

116. Every Auditor of the Company shall have a right of access
at all times to the books and accounts and vouchers of the Company and shall be entitled to require from the Directors and Officers of
the Company such information and explanation as may be necessary for the performance of the duties of the auditors.

117. Auditors shall at the next annual general meeting following
their appointment and at any other time during their term of office, upon request of the Directors or any general meeting of the Members,
make a report on the accounts of the Company in general meeting during their tenure of office.

**NOTICES**

118. Notices shall be in writing and may be given by the Company
to any Member either personally or by sending it by post, cable, telex or telecopy to him or to his address as shown in the register
of Members, such notice, if mailed, to be forwarded airmail if the address be outside the Cayman Islands.

119. (a) Where a notice is sent by post, service of the notice
shall be deemed to be effected by properly addressing, pre-paying and posting a letter containing the notice, and to have been effected
at the expiration of 60 hours after the letter containing the same is posted as aforesaid.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Where a notice is sent by cable, telex, telecopy or electronic
message, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting
organisation and to have been effected on the day the same is sent as aforesaid.

120. A notice may be given by the Company to the joint holders
of record of a share by giving the notice to the joint holder first named on the register of Members in respect of the share.

121. A notice may be given by the Company to the person or persons
which the Company has been advised are entitled to a share or shares in consequence of the death or bankruptcy of a Member by sending
it through the post as aforesaid in a pre-paid letter addressed to them by name, or by the title of representatives of the deceased,
or trustee of the bankrupt, or by any like description at the address supplied for that purpose by the persons claiming to be so entitled,
or at the option of the Company by giving the notice in any manner in which the same might have been given if the death or bankruptcy
had not occurred.

122. Notice of every general meeting shall be given in any manner
hereinbefore authorised to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) every person shown as a Member in the register of Members
as of the record date for such meeting except that in the case of joint holders the notice shall be sufficient if given to the joint
holder first named in the register of Members.

&nbsp;&nbsp;&nbsp;&nbsp;(b) every person upon whom the ownership of a share devolves
by reason of his being a legal personal representative or a trustee in bankruptcy of a Member of record where the Member of record but
for his death or bankruptcy would be entitled to receive notice of the meeting; and

No other person shall be entitled to receive notices of general meetings.

**WINDING UP**

123. If the Company shall be wound up the liquidator may, with
the sanction of a Special Resolution of the Company and any other sanction required by the Statute, divide amongst the Members in specie
or kind the whole or any part of the assets of the Company (whether they shall consist of property of the same kind or not) and may for
such purpose set such value as he deems fair upon any property to be divided as aforesaid and may determine how such division shall be
carried out as between the Members or different classes of Members. The liquidator may with the like sanction, vest the whole or any
part of such assets in trustees upon such trusts for the benefit of the contributories as the liquidator, with the like sanction, shall
think fit, but so that no Member shall be compelled to accept any shares or other securities whereon there is any liability.

124. If the Company shall be wound up, and the assets available
for distribution amongst the Members as such shall be insufficient to repay the whole of the paid-up capital, such assets shall be distributed
so that, as nearly as may be, the losses shall be borne by the Members in proportion to the capital paid up, or which ought to have been
paid up, at the commencement of the winding up on the shares held by them respectively. And if in a winding up the assets available for
distribution amongst the Members shall be more than sufficient to repay the whole of the capital paid up at the commencement of the winding
up, the excess shall be distributed amongst the Members in proportion to the capital paid up at the commencement of the winding up on
the shares held by them respectively. This Article is to be without prejudice to the rights of the holders of shares issued upon special
terms and conditions.

**INDEMNITY**

125. The Directors and officers for the time being of the Company
and any trustee for the time being acting in relation to any of the affairs of the Company and their heirs, executors, administrators
and personal representatives respectively shall be indemnified out of the assets of the Company from and against all actions, proceedings,
costs, charges, losses, damages and expenses which they or any of them shall or may incur or sustain by reason of any act done or omitted
in or about the execution of their duty in their respective offices or trusts, except such (if any) as they shall incur or sustain by
or through their own wilful neglect or default respectively and no such Director, officer or trustee shall be answerable for the acts,
receipts, neglects or defaults of any other Director, officer or trustee or for joining in any receipt for the sake of conformity or
for the solvency or honesty of any banker or other persons with whom any monies or effects belonging to the Company may be lodged or
deposited for safe custody or for any insufficiency of any security upon which any monies of the Company may be invested or for any other
loss or damage due to any such cause as aforesaid or which may happen in or about the execution of his office or trust unless the same
shall happen through the wilful neglect or default of such Director, Officer or trustee.

**FINANCIAL YEAR**

126. Unless the Directors otherwise prescribe, the financial year
of the Company shall end on 31 <sup>st</sup> December in each year and, following the year of incorporation,
shall begin on 1 <sup>st</sup> January in each year.

**AMENDMENTS OF ARTICLES**

127. Subject to the Statute, the Company may at any time and from
time to time by Special Resolution alter or amend these Articles in whole or in part.

**TRANSFER BY WAY OF CONTINUATION**

128. If the Company is exempted as defined in the Statute, it
shall, subject to the provisions of the Statute and with the approval of a Special Resolution, have the power to register by way of continuation
as a body corporate under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands.