# EDGAR Filing Document

**Accession Number:** 0001985139
**File Stem:** 0001493152-26-004168
**Filing Date:** 2026-1
**Character Count:** 120014
**Document Hash:** b9da40bbb0971a3f9ef31d82eb851fc6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-004168.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001493152-26-004168

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260129

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Leishen Energy Holding Co., Ltd.
- **CENTRAL INDEX KEY:** 0001985139
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42445
- **FILM NUMBER:** 26575825

**BUSINESS ADDRESS:**
- **STREET 1:** 103 HUIZHONG LI, B BUILDING
- **STREET 2:** PEKING TIMES SQUARE, UNIT 15B10
- **CITY:** CHAOYANG DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 122000
- **BUSINESS PHONE:** 861084871799

**MAIL ADDRESS:**
- **STREET 1:** 103 HUIZHONG LI, B BUILDING
- **STREET 2:** PEKING TIMES SQUARE, UNIT 15B10
- **CITY:** CHAOYANG DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 122000

**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 of January 2026**

**Commission File Number 001-42445**

**Leishen Energy Holding Co., Ltd.**

(Translation of registrant's name into English)

**No. 528, 4th Avenue, 103 Huizhong Li, B Building, Peking Times Square, Unit 15B10, Chaoyang District, Beijing, China**

(Address of principal executive offices)

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 ☐

**Results of the 2026 Annual General Meeting of Shareholders**

On January 29, 2026, Leishen Energy Holding Co., Ltd. (the "Company") held its Annual General Meeting of Shareholders (the "AGM") in Beijing, China. The shareholders voted on the following matters:

On January 29, 2026, Leishen Energy Holding Co., Ltd. (the "**Company**") held the Annual General Meeting (the "**AGM**") at 9:00 P.M. (Beijing time and date) at No. 528, 4th Avenue, 103 Huizhong Li, B Building, Peking Times Square, Unit 15B10, Chaoyang District, Beijing, China. On January 14, 2026 (the "**Record Date**"), the record date for the AGM, there were 4,315,000 Class A Ordinary Shares and 12,710,000 Class B Ordinary Shares outstanding and entitled to vote at the AGM. Each Class A Ordinary Share is entitled to one (1) vote on each proposal at the Meeting and each Class B Ordinary Share is entitled to twenty-five (25) votes on each proposal at the Meeting. At the Meeting, the combined holders of 15,515,637.60 shares entitled to notice of and to vote at the Meeting were represented by proxy, representing approximately 91.13% of the outstanding shares, and therefore a quorum pursuant to the Company's articles of association was present for the transaction of business at the Meeting.

The final results for each of the matters considered at the Meeting were as follows:

***Proposal 1:***

As an ordinary resolution, to re-appoint Hongqi Li as a director of the Company to serve on the Company's board of directors (the "Board") until their office is otherwise vacated or they are removed by ordinary resolution:

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555332.00 | 303.50 | 2.00 |

---

As an ordinary resolution, to re-appoint Hongliang Li as a director of the Company to serve on the Board until their office is otherwise vacated or they are removed by ordinary resolution:

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555329.00 | 303.50 | 5.00 |

---

As an ordinary resolution, to re-appoint Lufeng Cheng as a director of the Company to serve on the Board until their office is otherwise vacated or they are removed by ordinary resolution:

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555324.00 | 310.50 | 3.00 |

---

As an ordinary resolution, to re-appoint Jingping Sun as a director of the Company to serve on the Board until their office is otherwise vacated or they are removed by ordinary resolution:

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555325.00 | 309.50 | 2.00 |

---

As an ordinary resolution, to appoint Bin Dong as a director of the Company to serve on the Board until their office is otherwise vacated or they are removed by ordinary resolution:

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555329.00 | 303.50 | 5.00 |

---

The affirmative vote of the holders of a simple majority of the votes cast at the Meeting was required for approval of Proposal 1. The proposals for the reappointment of each of the director nominees above were approved.

***Proposal 2:***

As ordinary resolutions, to re-appoint Wei, Wei & Co., LLP ("Wei Wei"), as the independent registered public accounting firm of the Company for the fiscal year ended September 30, 2026; to ratify the appointment of Wei Wei as the independent registered public accounting firm of the Company for the fiscal year ended September 30, 2025; and to authorize the board of directors of the Company (the "Board of Directors") to determine their compensation.

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555635.00 | 0.50 | 2.00 |

---

The affirmative vote of the holders of a simple majority of the votes cast at the Meeting was required for approval of Proposal 2. The proposal was approved.

***Proposal 3:***

As special resolutions, to approve the adoption of the Second Amended and Restated Memorandum and Articles of Association of the Company to correct a technical error in the Company's authorized share capital by increasing the authorized share capital from US$50,000 divided into 50,000,000 shares of a par value of US$0.001 each to US$500,000 divided into 500,000,000 shares of a par value of US$0.001 each, while maintaining the par value of each share at US$0.001 and without any change to the Company's issued share capital or the rights attaching to any class of shares, and to authorize any director or officer of the Company to take all actions and execute all documents necessary or desirable to give effect thereto.

---

| | | |
|:---|:---|:---|
| Votes For | Votes Against | Abstentions |
| 320555616.00 | 9.80 | 11.80 |

---

The affirmative vote of the holders of a majority of not less than two-thirds of the votes cast at the Meeting was required for approval of Proposal 3. The proposal was approved.

A copy of the Company's Second Amended and Restated Memorandum and Articles of Association, which will be filed with Cayman Islands registrar in the coming days, is attached hereto as Exhibit 3.1 and incorporated herein by reference.

**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.

---

| | | |
|:---|:---|:---|
|  | Leishen Energy Holding Co., Ltd. | Leishen Energy Holding Co., Ltd. |
| Date: January 29, 2026 | By: | */s/ Hongqi Li* |
|  |  | Hongqi Li |
|  |  | Chairman of the Board of Directors<br>|

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 3.1 | [Second Amended and Restated Memorandum and Articles of Association](ex3-1.htm) |

---

## Exhibit 3.1

**Exhibit 3.1**

**Adopted by a Special Resolution Dated January 29, 2026**

**Companies Act(Revised)**

**Company Limited by Shares**

**Leishen Energy Holding Co., Ltd.**

**SECOND AMENDED AND RESTATED MEMORANDUM OF**

**ASSOCIATION**

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SECOND AMENDED AND RESTATED<br> MEMORANDUM OF ASSOCIATION**

**OF**

**LEISHEN ENERGY HOLDING CO., LTD**

(adopted by a Special Resolution passed on 29 January 2026

1. The
 name of the Company is Leishen Energy Holding Co., Ltd.

2. The
 Registered Office of the Company will be situated at the offices of Ogier Global (Cayman)
 Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands, or at such other
 location within the Cayman Islands as the Directors may from time to time determine.

3. The
 objects for which the Company is established are unrestricted and the Company shall have
 full power and authority to carry out any object not prohibited by the Companies Act or any
 other law of the Cayman Islands.

4. The
 Company shall have and be capable of exercising all the functions of a natural person of
 full capacity irrespective of any question of corporate benefit as provided by the Companies
 Act.

5. The
 Company will not trade in the Cayman Islands with any person, firm or corporation except
 in furtherance of the business of the Company carried on outside the Cayman Islands; provided
 that nothing in this section shall be construed as to prevent the Company effecting and concluding
 contracts in the Cayman Islands, and exercising in the Cayman Islands all of its powers necessary
 for the carrying on of its business outside the Cayman Islands.

6. The
 liability of each Shareholder is limited to the amount, if any, unpaid on the Shares held
 by such Shareholder.

7. The
 authorized share capital of the Company is US$500,000 divided into 467,290,000 Class A Ordinary
 Shares of a nominal or par value of US$0.001 each and 32,710,000 Class B Ordinary Shares
 of a nominal or par value of US$0.001 each. Subject to the Companies Act and the Articles,
 the Company shall have power to redeem or purchase any of its Shares and to increase or reduce
 its authorized share capital and to sub-divide or consolidate the said Shares or any of them
 and to issue all or any part of its capital whether original, redeemed, increased or reduced
 with or without any preference, priority, special privilege or other rights or subject to
 any postponement of rights or to any conditions or restrictions whatsoever and so that unless
 the conditions of issue shall otherwise expressly provide every issue of shares whether stated
 to be ordinary, preference or otherwise shall be subject to the powers on the part of the
 Company hereinbefore provided.

8. The
 Company has 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.

9. Capitalized
 terms that are not defined in this Memorandum of Association bear the same meanings as those
 given in the Articles of Association of the Company.

**THE COMPANIES ACT (AS REVISED)**

**OF THE CAYMAN ISLANDS**

**COMPANY LIMITED BY SHARES**

**SECOND AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**LEISHEN ENERGY HOLDING CO., LTD**

(adopted by a Special Resolution passed on 29 January 2026)

**TABLE A**

The regulations contained or incorporated in Table 'A' in the First Schedule of the Companies Act shall not apply to the Company and the following Articles shall comprise the Articles of Association of the Company.

**INTERPRETATION**

1. In
 these Articles the following defined terms will have the meanings ascribed to them, if not inconsistent with the subject or context:

---

| | |
|:---|:---|
| **"Affiliate"** | for the purposes of Article 58(2), shall have the meaning given to it in Rule 405 of the United States Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder; |
| **"Articles"** | means these articles of association of the Company, as amended or substituted from time to time; |
| **"Board"** and **"Board of Directors"** and **"Directors"** | means the directors of the Company for the time being, or as the case may be, the directors assembled as a board or as a committee thereof; |
| **"Chairman"** | means the chairman of the Board of Directors; |
| **"Class" or "Classes"** | means any class or classes of Shares as may from time to time be issued by the Company;<br>|

---

---

| | |
|:---|:---|
| **"Commission"** | means the Securities and Exchange Commission of the United States of America or any other federal agency for the time being administering the Securities Act;<br>|

---

---

| | |
|:---|:---|
| **"Company"** | means Leishen Energy Holding Co., Ltd, a Cayman Islands exempted company; |
| **"Companies Act"** | means the Companies Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"Company's Website"** | means the main corporate/investor relations website of the Company, the address or domain name of which has been disclosed in any registration statement filed by the Company in connection or which has otherwise been notified to Shareholders; |
| **"Designated Stock Exchange"** | means the stock exchange in the United States on which any Shares are listed for trading; |
| **"Designated Stock Exchange Rules"** | means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares on the Designated Stock Exchange; |
| **"electronic"** | has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; |
| **"electronic communication"** | means electronic posting to the Company's Website, transmission to any number, address or internet website or other electronic delivery methods as otherwise decided and approved by not less than two-thirds of the vote of the Board; |
| **"Electronic Transactions Act"** | means the Electronic Transactions Act (As Revised) of the Cayman Islands and any statutory amendment or re-enactment thereof; |
| **"electronic record"** | has the meaning given to it in the Electronic Transactions Act and any amendment thereto or re-enactments thereof for the time being in force and includes every other law incorporated therewith or substituted therefor; |
| **"Memorandum of Association"** | means the memorandum of association of the Company, as amended or substituted from time to time by Special Resolution of the Company; |

---

---

| | | |
|:---|:---|:---|
| **"Ordinary Resolution"** | means a resolution: | means a resolution: |
|  | (a) | passed by a simple majority of the votes cast by such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives, at a general meeting of the Company held in accordance with these Articles; or |
|  | (b) | approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Shareholders 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; |

---

---

| | |
|:---|:---|
| **"Ordinary Share"** | means an ordinary share of a par value of US$0.001 in the capital of the Company, and having the rights, preferences, privileges and restrictions provided for in the Memorandum and these Articles; |
| **"paid up"** | means paid up as to the par value in respect of the issue of any Shares and includes credited as paid up; |
| **"Person"** | means any natural person, firm, company, joint venture, partnership, corporation, association or other entity (whether or not having a separate legal personality) or any of them as the context so requires; |
| **"Register"** | means the register of Members of the Company maintained in accordance with the Companies Act; |
| **"Registered Office"** | means the registered office of the Company as required by the Companies Act; |
| **"Seal"** | means the common seal of the Company (if adopted) including any facsimile thereof; |
| **"Secretary"** | means any Person appointed by the Directors to perform any of the duties of the secretary of the Company; |
| **"Securities Act"** | means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; |
| **"Share"** | means a share in the capital of the Company, and includes an Ordinary Share. All references to "Shares" herein shall be deemed to be Shares of any or all Classes as the context may require. For the avoidance of doubt in these Articles the expression "Share" shall include a fraction of a Share; |
| **"Shareholder" or "Member"** | means a Person who is registered as the holder of one or more Shares in the Register; |
| **"Share Premium Account"** | means the share premium account established in accordance with these Articles and the Companies Act; |
| **"signed"** | means bearing a signature or representation of a signature affixed by mechanical means or an electronic symbol or process attached to or logically associated with an electronic communication and executed or adopted by a person with the intent to sign the electronic communication;<br>|

---

---

| | | |
|:---|:---|:---|
| **"Special Resolution"** | means a special resolution of the Company passed in accordance with the Companies Act, being a resolution: | means a special resolution of the Company passed in accordance with the Companies Act, being a resolution: |
|  | (a) | passed by not less than two-thirds of the votes cast by such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives, at a general meeting of the Company of which notice specifying the intention to propose the resolution as a special resolution has been duly given; or |
|  | (b) | approved in writing by all of the Shareholders entitled to vote at a general meeting of the Company in one or more instruments each signed by one or more of the Shareholders and the effective date of the special resolution so adopted shall be the date on which the instrument or the last of such instruments, if more than one, is executed; |
| **"Treasury Share"** | means a Share held in the name of the Company as a treasury share in accordance with the Companies Act; and | means a Share held in the name of the Company as a treasury share in accordance with the Companies Act; and |
| **"United States"** | means the United States of America, its territories, its possessions and all areas subject to its jurisdiction. | means the United States of America, its territories, its possessions and all areas subject to its jurisdiction. |

---

2. In
 these Articles, save where the context requires otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) words
 importing the singular number shall include the plural number and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) words
 importing the masculine gender only shall include the feminine gender and any Person as the
 context may require;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 word "may" shall be construed as permissive and the word "shall"
 shall be construed as imperative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) reference
 to a dollar or dollars (or US$) and to a cent or cents is reference to dollars and cents
 of the United States of America;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) reference
 to a statutory enactment shall include reference to any amendment or re-enactment thereof
 for the time being in force;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) reference
 to any determination by the Directors shall be construed as a determination by the Directors
 in their sole and absolute discretion and shall be applicable either generally or in any
 particular case;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) reference
 to "in writing" shall be construed as written or represented by any means reproducible
 in writing, including any form of print, lithograph, email, facsimile, photograph or telex
 or represented by any other substitute or format for storage or transmission for writing
 including in the form of an electronic record or partly one and partly another;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) any
 requirements as to delivery under the Articles include delivery in the form of an electronic
 record or an electronic communication;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 requirements as to execution or signature under the Articles, including the execution of
 the Articles themselves, can be satisfied in the form of an electronic signature as defined
 in the Electronic Transaction Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Sections
 8 and 19(3) of the Electronic Transactions Act shall not apply.

3. Subject
 to the last two preceding Articles, any words defined in the Companies Act shall, if not
 inconsistent with the subject or context, bear the same meaning in these Articles.

**PRELIMINARY**

4. The
 business of the Company may be conducted as the Directors see fit.

5. The
 Registered Office shall be at such address in the Cayman Islands as the Directors may from
 time to time determine. The Company may in addition establish and maintain such other offices
 and places of business and agencies in such places as the Directors may from time to time
 determine.

6. The
 expenses incurred in the formation of the Company and in connection with the offer for subscription
 and issue of Shares shall be paid by the Company. Such expenses may be amortized over such
 period as the Directors may determine and the amount so paid shall be charged against income
 and/or capital in the accounts of the Company as the Directors shall determine.

7. The
 Directors shall keep, or cause to be kept, the Register at such place or (subject to compliance
 with the Companies Act and these Articles) places as the Directors may from time to time
 determine and, in the absence of any such determination, the Register shall be kept at the
 Registered Office.

**SHARES**

8. Subject
 to these Articles, all Shares for the time being unissued shall be under the control of the
 Directors who may, in their absolute discretion and without the approval of the Members,
 cause the Company to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue,
 allot and dispose of Shares (including, without limitation, preferred shares) (whether in
 certificated form or non-certificated form) to such Persons, in such manner, on such terms
 and having such rights and being subject to such restrictions as they may from time to time
 determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) grant
 rights over Shares or other securities to be issued in one or more classes or series as they
 deem necessary or appropriate and determine the designations, powers, preferences, privileges
 and other rights attaching to such Shares or securities, including dividend rights, voting
 rights, conversion rights, terms of redemption and liquidation preferences, any or all of
 which may be greater than the powers, preferences, privileges and rights associated with
 the then issued and outstanding Shares, at such times and on such other terms as they think
 proper; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) grant
 options with respect to Shares and issue warrants, convertible securities or similar instruments
 with respect thereto;

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued.

9. The
 Directors may authorize the division of Shares into any number of Classes and the different
 Classes shall be authorized, established and designated (or re-designated as the case may
 be) and the variations in the relative rights (including, without limitation, voting, dividend
 and redemption rights), restrictions, preferences, privileges and payment obligations as
 between the different Classes (if any) may be fixed and determined by the Directors or by
 a Special Resolution. The Directors may issue from time to time, out of the authorised share
 capital of the Company, preferred shares with such preferred or other rights, all or any
 of which may be greater than the rights of Ordinary Shares, at such time and on such terms
 as they may think appropriate in their absolute discretion and without approval of the Members;
 provided, however, before any preferred shares of any such series are issued, the Directors
 shall by resolution of Directors determine, with respect to any series of preferred shares,
 the terms and rights of that series, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 designation of such series, the number of preferred shares to constitute such series and
 the subscription price thereof if different from the par value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the preferred shares of such series shall have voting rights, in addition to any voting rights
 provided by law, and, if so, the terms of such voting rights, which may be general or limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 dividends, if any, payable on such series, whether any such dividends shall be cumulative,
 and, if so, from what dates, the conditions and dates upon which such dividends shall be
 payable, and the preference or relation which such dividends shall bear to the dividends
 payable on any shares of any other class or any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 the preferred shares of such series shall be subject to redemption by the Company, and, if
 so, the times, prices and other conditions of such redemption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) whether
 the preferred shares of such series shall have any rights to receive any part of the assets
 available for distribution amongst the Members upon the liquidation of the Company, and,
 if so, the terms of such liquidation preference, and the relation which such liquidation
 preference shall bear to the entitlements of the holders of shares of any other class or
 any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) whether
 the preferred shares of such series shall be subject to the operation of a retirement or
 sinking fund and, if so, the extent to and manner in which any such retirement or sinking
 fund shall be applied to the purchase or redemption of the preferred shares of such series
 for retirement or other corporate purposes and the terms and provisions relative to the operation
 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) whether
 the preferred shares of such series shall be convertible into, or exchangeable for, shares
 of any other class or any other series of preferred shares or any other securities and, if
 so, the price or prices or the rate or rates of conversion or exchange and the method, if
 any, of adjusting the same, and any other terms and conditions of conversion or exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 limitations and restrictions, if any, to be effective while any preferred shares of such
 series are outstanding upon the payment of dividends or the making of other distributions
 on, and upon the purchase, redemption or other acquisition by the Company of, the existing
 shares or shares of any other class of shares or any other series of preferred shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 conditions or restrictions, if any, upon the creation of indebtedness of the Company or upon
 the issue of any additional shares, including additional shares of such series or of any
 other class of shares or any other series of preferred shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 other powers, preferences and relative, participating, optional and other special rights,
 and any qualifications, limitations and restrictions thereof;

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued. The Company is not obliged to issue, allot or dispose of Shares if it is, in the opinion of the Directors, unlawful or impracticable. The Company shall not issue Shares to bearer.

Except as otherwise expressly provided in the resolution or resolutions providing for the establishment of any Class or series of preferred shares, no vote of the holders of preferred shares or Ordinary Shares shall be a prerequisite to the issuance of any Shares of any Class or series of the preferred Shares authorized by and complying with the conditions of the Memorandum and these Articles.

10. The
 rights, preferences, privileges and restrictions granted to and imposed on the Class A Ordinary
 Shares are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <u>Dividend Rights</u>: Subject to the rights of holders of all classes of share at the time outstanding
 having prior rights as to dividends, the holders of the Class A Ordinary Shares shall be
 entitled to receive, when, as and if declared by the Directors, out of any assets of the
 Company legally available therefor, such dividends as may be declared from time to time by
 the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <u>Conversion</u>.
 The Class A Ordinary Shares are not convertible into any other class of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 <u>Voting Rights</u>. Each Class A Ordinary Shares shall have the right to one vote, and the holder
 thereof shall be entitled to notice of any general meeting in accordance with these Articles
 and shall be entitled to vote upon such matters and in such manner as may be provided herein
 and by law.

11. The
 rights, preferences, privileges and restrictions granted to and imposed on the Class B Ordinary
 Shares are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 <u>Dividend Rights</u>. Subject to the rights of holders of all classes of shares at the time outstanding
 having prior rights as to dividends, the holders of the Class B Ordinary Shares shall be
 entitled to receive, when, as and if declared by the Directors, out of any assets of the
 Company legal available therefor, such dividends as may eb declared from time to time by
 the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <u>Conversion</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each
 Class B Ordinary Share is are convertible into one Class A Ordinary Share at any time by
 the election of the holder thereof upon written notice to the Company specifying the number
 of Class B Ordinary Shares to be converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each
 Class B Ordinary Share shall be automatically and immediately converted into one Class A
 Ordinary Share upon any direct or indirect sale, transfer or assignment or other disposition
 of such Class B Ordinary Share by the holder thereof or an Affiliate of such holder, or the
 direct or indirect transfer or assignment of the voting power attached to such Class B Ordinary
 Share through voting proxy or otherwise to any person or entity that is not an Affiliate
 of such holder. For the avoidance of doubt, the creation of any pledge, charge, encumbrance
 or other third party right of whatever description on any Class B Ordinary Share to secure
 contractual or other legal obligations shall not be deemed as a sale, transfer, assignment
 or other disposition unless and until any such pledge, charge, encumbrance or other third
 party right is enforce and results in the third party holding directly or indirectly beneficial
 ownership or voting power through voting proxy or otherwise to the related Class B Ordinary
 Shares, in which case all related Class B Ordinary Shares shall be automatically converted
 into the same number of Class A Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any
 conversion of Class B Ordinary Shares into Class A Ordinary Shares pursuant to these Articles
 shall be effected by the repurchase of each Class B Ordinary Share and issuance of a corresponding
 number of Class A Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any
 applicable conversion ratio for Class B Ordinary Shares into Class A Ordinary Shares shall
 be adjusted to account for (i) any subdivision or consolidation or similar recapitalization
 or reclassification of the Class A Ordinary Shares or the Class B Ordinary Shares into a
 greater or lesser number of shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Class
 A Ordinary Shares shall not be convertible into Class B Ordinary Shares under any circumstance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 <u>Voting Rights</u>. Each Class B Ordinary Share shall have the right to twenty-five votes and the
 holder thereof shall be entitled to notice of any general meeting in accordance with these
 Articles and shall be entitled to vote upon such matters and in such manner as may be provided
 herein and by law.

12. The
 Company may insofar as may be permitted by law, pay a commission to any Person in consideration
 of his subscribing or agreeing to subscribe whether absolutely or conditionally for any Shares.
 Such commissions may be satisfied by the payment of cash or the lodgment of fully or partly
 paid-up Shares or partly in one way and partly in the other. The Company may also pay such
 brokerage as may be lawful on any issue of Shares.

13. The
 Directors may refuse to accept any application for Shares, and may accept any application
 in whole or in part, for any reason or for no reason.

**MODIFICATION OF RIGHTS**

14. If
 at any time the capital of the Company is divided into different Classes, all or any of the
 rights attached to any such Class may, subject to any rights or restrictions for the time
 being attached to any Class, be varied with the consent in writing of all of the holders
 of not less than two-thirds of the issued Shares of that Class or with the sanction of a
 majority of not less than two-thirds of the holders of the issued Shares of that Class present
 in person or by proxy at a separate meeting of the holders of the Shares of that Class. To
 every such separate meeting all the provisions of these Articles relating to general meetings
 of the Company or to the proceedings thereat shall, mutatis mutandis, apply, except that
 the necessary quorum shall be one or more Persons holding or representing by proxy at least
 one-third in nominal or par value amount of the issued Shares of the relevant Class (but
 so that if at any adjourned meeting of such holders a quorum as above defined is not present,
 those Shareholders who are present shall form a quorum) and that, subject to any rights or
 restrictions for the time being attached to the Shares of that Class, every Shareholder of
 the Class shall on a poll have one vote for each Share of the Class held by him. For the
 purposes of this Article the Directors may treat all the Classes or any two or more Classes
 as forming one Class if they consider that all such Classes would be affected in the same
 way by the proposals under consideration, but in any other case shall treat them as separate
 Classes.

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* with or subsequent to the Shares of that Class or the redemption or purchase
 of any Shares of any Class by the Company. The rights of the holders of Shares shall not
 be deemed to be varied by the creation or issue of Shares with preferred or other rights
 including, without limitation, the creation of Shares with enhanced or weighted voting rights.

**CERTIFICATES**

16. Every
 Person whose name is entered as a Member in the Register may, without payment and upon its
 written request, request a certificate within two calendar months after allotment or lodgment
 of transfer (or within such other period as the conditions of issue shall provide) in the
 form determined by the Directors. All certificates shall specify the Share or Shares held
 by that Person, 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 several joint holders shall be sufficient delivery to all. All certificates
 for Shares shall be delivered personally or sent through the post addressed to the Member
 entitled thereto at the Member's registered address as appearing in the Register.

17. Every
 share certificate of the Company shall bear legends required under the applicable laws, including
 the Securities Act.

18. Any
 two or more certificates representing Shares of any one Class held by any Member may at the
 Member's request be cancelled and a single new certificate for such Shares issued in
 lieu on payment (if the Directors shall so require) of one dollar (US$1.00) or such smaller
 sum as the Directors shall determine.

19. If
 a share certificate shall be damaged or defaced or alleged to have been lost, stolen or destroyed,
 a new certificate representing the same Shares may be issued to the relevant Member upon
 request, subject to delivery up of the old certificate or (if alleged to have been lost,
 stolen or destroyed) compliance with such conditions as to evidence and indemnity and the
 payment of out-of-pocket expenses of the Company in connection with the request as the Directors
 may think fit.

20. In
 the event that Shares are held jointly by several persons, any request may be made by any
 one of the joint holders and if so made shall be binding on all of the joint holders.

**FRACTIONAL SHARES**

21. The
 Directors may issue fractions of a Share and, if so issued, a fraction of a Share shall be
 subject to and carry the corresponding fraction of liabilities (whether with respect to nominal
 or par value, premium, contributions, calls or otherwise), limitations, preferences, privileges,
 qualifications, restrictions, rights (including, without prejudice to the generality of the
 foregoing, voting and participation rights) and other attributes of a whole Share. If more
 than one fraction of a Share of the same Class is issued to or acquired by the same Shareholder
 such fractions shall be accumulated.

**LIEN**

22. The
 Company has a first and paramount lien on every Share (whether or not fully paid) for all
 amounts (whether presently payable or not) payable at a fixed time or called in respect of
 that Share. The Company also has a first and paramount lien on every Share registered in
 the name of a Person indebted or under liability to the Company (whether he is the sole registered
 holder of a Share or one of two or more joint holders) for all amounts owing by him or his
 estate to the Company (whether or not presently payable). The Directors may at any time declare
 a Share to be wholly or in part exempt from the provisions of this Article. The Company's
 lien on a Share extends to any amount payable in respect of it, including but not limited
 to dividends.

23. The
 Company may sell, in such manner as the Directors in their absolute discretion think fit,
 any Share on which the Company has a lien, but no sale shall be made unless an amount in
 respect of which the lien exists is presently payable nor until the expiration of fourteen
 calendar days after a notice in writing, 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 for the time being of the Share, or the Persons entitled thereto by reason of his
 death or bankruptcy.

24. For
 giving effect to any such sale the Directors may authorize a 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.

25. The
 proceeds of the sale after deduction of expenses, fees and commission incurred by the Company
 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 shall (subject to a like
 lien for sums not presently payable as existed upon the Shares prior to the sale) be paid
 to the Person entitled to the Shares immediately prior to the sale.

**CALLS ON SHARES**

26. Subject
 to the terms of the allotment, the Directors may from time to time make calls upon the Shareholders
 in respect of any moneys unpaid on their Shares, and each Shareholder shall (subject to receiving
 at least fourteen clear days' notice specifying when and where payment is to be made)
 pay to the Company the amount called on such Shares. A call shall be deemed to have been
 made at the time when the resolution of the Directors authorizing such call was passed.

27. The
 joint holders of a Share shall be jointly and severally liable to pay calls in respect thereof.

28. If
 a sum called in respect of a Share is not paid before or on the day appointed for payment
 thereof, the Person from whom the sum is due shall pay interest upon the sum at the rate
 of ten percent per annum from the day appointed for the payment thereof to the time of the
 actual payment, but the Directors shall be at their discretion to waive payment of that interest
 wholly or in part.

29. The
 provisions of these Articles as to the liability of joint holders and as to payment of interest
 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 amount of the Share, or by way
 of premium, as if the same had become payable by virtue of a call duly made and notified.

30. The
 Directors may make arrangements with respect to the issue of partly paid Shares for a difference
 between the Shareholders, or the particular Shares, in the amount of calls to be paid and
 in the times of payment.

31. The
 Directors may, if they think fit, receive from any Shareholder willing to advance the same
 all or any part of the moneys uncalled and unpaid upon any partly paid Shares held by him,
 and upon all or any of the moneys so advanced may (until the same would, but for such advance,
 become presently payable) pay interest at such rate (not exceeding without the sanction of
 an Ordinary Resolution, ten percent per annum) as may be agreed upon between the Shareholder
 paying the sum in advance and the Directors. 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**

32. If
 a Shareholder fails to pay any call or instalment of a call in respect of any Shares on the
 day appointed for payment, the Directors may, at any time thereafter during such time as
 any part of such call or instalment remains unpaid, serve a notice on him requiring payment
 of so much of the call or instalment as is unpaid, together with any interest which may have
 accrued.

33. The
 notice shall name a further day (not earlier than the expiration of fourteen calendar days
 from the date 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 the call was made will be liable to be forfeited.

34. 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 notice has been made, be forfeited by a resolution of the Directors to that effect.

35. A
 forfeited Share may be sold, re-allotted 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.

36. A
 Person whose Shares have been forfeited shall cease to be a Shareholder in respect of the
 forfeited Shares, but shall, notwithstanding, remain liable to pay to the Company all moneys
 which at the date of forfeiture were payable by him to the Company in respect of the Shares
 forfeited, but his liability shall cease if and when the Company receives payment in full
 of the amount unpaid on the Shares forfeited.

37. A
 certificate in writing under the hand of a Director of the Company that a Share has been
 duly forfeited on a date stated in the certificate shall be conclusive evidence of the facts
 in the declaration as against all Persons claiming to be entitled to the Share.

38. The
 Company may receive the consideration, if any, given for a Share on any sale or disposition
 thereof pursuant to the provisions of these Articles as to forfeiture and may execute a transfer
 of the Share in favor of the Person to whom the Share is sold or disposed of and that Person
 shall 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 Shares be affected by any irregularity
 or invalidity in the proceedings in reference to the disposition or sale.

39. 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 due and payable, whether on account of
 the amount of the Share, or by way of premium, as if the same had been payable by virtue
 of a call duly made and notified.

**TRANSFER OF SHARES**

40. Subject
 to these Articles and any other transfer or conversion restrictions pursuant to arrangements
 entered into by the Company with any depositary bank or other parties, any Shareholder may
 transfer all or any of his Shares (including securities representing his Shares) by an instrument
 of transfer in the usual or common form or in a form prescribed by the Designated Stock Exchange
 or in any other form approved by the Board or, if the transferor or transferee is a clearing
 house or a central depository house or its nominee(s), by hand or by machine imprinted signature
 or by such other manner of execution as the Board may approve from time to time.

41. The
 instrument of transfer of any Share shall be in writing and in any usual or common form or
 such other form as the Directors may, in their absolute discretion, approve and be executed
 by or on behalf of the transferor and if in respect of a nil or partly paid up Share, or
 if so required by the Directors, shall also be executed on behalf of the transferee and shall
 be accompanied by the certificate (if any) of the Shares to which it relates and such other
 evidence as the Directors may reasonably require to show the right of the transferor to make
 the transfer. The transferor shall be deemed to remain a Shareholder until the name of the
 transferee is entered in the Register in respect of the relevant Shares.

42. (a) The
 Directors may in their absolute discretion decline to register any transfer of Shares which is not
 fully paid up or on which the Company has a lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors may also decline to register any transfer of any Share unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 instrument of transfer is lodged with the Company, accompanied by the certificate for the
 Shares to which it relates and such other evidence as the Board may reasonably require to
 show the right of the transferor to make the transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 instrument of transfer is in respect of only one Class of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 instrument of transfer is properly stamped, if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in
 the case of a transfer to joint holders, the number of joint holders to whom the Share is
 to be transferred does not exceed four; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a
 fee of such maximum sum as the Designated Stock Exchange may determine to be payable, or
 such lesser sum as the Board of Directors may from time to time require, is paid to the Company
 in respect thereof.

43. The
 registration of transfers may, on fourteen calendar days' notice given by advertisement
 in such one or more newspapers or by electronic means, be suspended and the Register closed
 at such times and for such periods as the Directors may, in their absolute discretion, from
 time to time determine, provided always that such registration of transfer shall not be suspended
 nor the Register closed for more than thirty calendar days in any calendar year.

44. All
 instruments of transfer that are registered shall be retained by the Company. If the Directors
 refuse to register a transfer of any Shares, they shall within three calendar months after
 the date on which the instrument of transfer was lodged with the Company send notice of the
 refusal to each of the transferor and the transferee.

**TRANSMISSION OF SHARES**

45. The
 legal personal representative of a deceased sole holder of a Share shall be the only Person
 recognized by the Company as having any title to the Share. In the case of a Share registered
 in the name of two or more holders, the survivors or survivor, or the legal personal representatives
 of the deceased survivor, shall be the only Person recognized by the Company as having any
 title to the Share.

46. Any
 Person becoming entitled to a Share in consequence of the death or bankruptcy of a Shareholder
 shall, upon such evidence being produced as may from time to time be required by the Directors,
 have the right either to be registered as a Shareholder in respect of the Share or, instead
 of being registered himself, to make such transfer of the Share as the deceased or bankrupt
 Person could have made; 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
 the deceased or bankrupt Person before the death or bankruptcy.

47. A
 Person becoming entitled to a Share by reason of the death or bankruptcy of a Shareholder
 shall be entitled to the same dividends and other advantages to which he would be entitled
 if he were the registered Shareholder, except that he shall not, before being registered
 as a Shareholder 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 calendar
 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.

**REGISTRATION OF EMPOWERING INSTRUMENTS**

48. The
 Company shall be entitled to charge a fee not exceeding one dollar (US$1.00) 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.

**ALTERATION OF SHARE CAPITAL**

49. Subject
 to the provisions of the Companies Act and these Articles, the Company may from time to time
 by Ordinary Resolution increase the share capital by such sum, to be divided into Shares
 of such Classes and amount, as the resolution shall prescribe.

50. Subject
 to the Companies Act and these Articles, the Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by new Shares of such amount as it thinks expedient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate
 and divide all or any of its share capital into Shares of a larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) convert
 all or any of our paid-up shares into stock, and reconvert that stock into paid up shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) subdivide
 its Shares, or any of them, into Shares of an amount smaller than that fixed by the Memorandum,
 provided that in the subdivision the proportion between the amount paid and the amount, if
 any, unpaid on each reduced Share shall be the same as it was in case of the Share from which
 the reduced Share is derived; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel
 any Shares that, at the date of the passing of the resolution, have not been taken or agreed
 to be taken by any Person and diminish the amount of its share capital by the amount of the
 Shares so cancelled or, in the case of shares without nominal par value, diminish the number
 of shares into our capital is divided.

51. Unless
 the Board in its sole discretion determines otherwise, all new Shares created in accordance
 with the provisions of the preceding Article shall be subject to the same provisions of the
 Articles with reference to the payment of calls, liens, transfer, transmission, forfeiture
 and otherwise as the Shares in the original share capital. The Board may settle as they consider
 expedient any difficulty which arises in relation to any consolidation and division under
 the preceding Article and in particular but without prejudice to the generality of the foregoing
 may issue certificates in respect of fractions of shares or arrange for the sale of the shares
 representing fractions and the distribution of the net proceeds of sale (after deduction
 of the expenses of such sale) in due proportion amongst the Members who would have been entitled
 to the fractions, and for this purpose the Board may authorize some person to transfer the
 shares representing fractions to their purchaser or resolve that such net proceeds be paid
 to the Company for the Company's benefit. Such purchaser will not be bound to see to
 the application of the purchase money nor will his title to the shares be affected by any
 irregularity or invalidity in the proceedings relating to the sale.

52. The
 Company may by Special Resolution reduce its share capital and any capital redemption reserve
 in any manner authorized by law.

**REDEMPTION, PURCHASE AND SURRENDER OF SHARES**

53. Subject
 to the provisions of the Companies Act and these Articles, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or are liable to be redeemed at the option of the Shareholder
 or the Company. The redemption of Shares shall be effected in such manner and upon such terms
 as may be determined, before the issue of such Shares by either the Board or by the Shareholders
 by Special Resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) purchase
 its own Shares (including any redeemable Shares) in such manner and upon such terms as have
 been approved by the Board or by the Shareholders by Special Resolution, or are otherwise
 authorized by these Articles; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 a payment in respect of the redemption or purchase of its own Shares in any manner permitted
 by the Companies Act, including out of capital.

54. The
 redemption, purchase or surrender of any Share shall not be deemed to give rise to the redemption,
 purchase or surrender of any other Share other than as may be required pursuant to applicable
 laws and any other contractual obligations of the Company.

55. The
 holder of the Shares being purchased shall be bound to deliver up to the Company the certificate(s)
 (if any) thereof for cancellation and thereupon the Company shall pay to him the purchase
 or redemption monies or consideration in respect thereof.

56. The
 Directors may accept the surrender for no consideration of any fully paid Share.

**TREASURY SHARES**

57. The
 Directors may, prior to the purchase, redemption or surrender of any Share, determine that
 such Share shall be held as a Treasury Share.

58. The
 Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms
 as they think proper (including, without limitation, for nil consideration).

59. In
 the event that the Directors do not specify that the relevant Shares are to be held as Treasury
 Shares, such Shares shall be cancelled.

**GENERAL MEETINGS**

60. All
 general meetings other than annual general meetings shall be called extraordinary general
 meetings.

61. (a) The
 Company may (but shall not be obliged to, unless as required by applicable law or Designated
 Stock Exchange Rules) in each calendar year hold a general meeting as its annual general
 meeting and shall specify the meeting as such in the notices calling it. The annual general
 meeting shall be held at such time and place as may be determined by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At
 these meetings the report of the Directors (if any) shall be presented.

62. (a) The
 Chairman or a majority of the Directors may call general meetings, and they shall on a Shareholders'
 requisition forthwith proceed to convene an extraordinary general meeting of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A
 Shareholders' requisition is a requisition of Members holding at the date of deposit
 of the requisition Shares which carry in aggregate not less than ten percent of all votes
 attaching to all issued and outstanding Shares of the Company that as at the date of the
 deposit carry the right to vote at general meetings of the Company.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If
 there are no Directors as at the date of the deposit of the Members' requisition, or
 if the Directors do not within twenty-one calendar days from the date of the deposit of the
 requisition duly proceed to convene a general meeting to be held within a further twenty-one
 calendar days, 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 calendar months after the expiration
 of the said twenty-one calendar days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 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**

63. At
 least five (5) calendar days' notice shall be given for any 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 the 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 Article has been
 given and whether or not the provisions of these Articles regarding general meetings have
 been complied with, be deemed to have been duly convened if it is so agreed:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of an extraordinary general meeting, by the Shareholders having a right to attend
 and vote at the meeting, present in person or by proxy or, in the case of a corporation or
 other non-natural person, by its duly authorized representative or proxy holding 90% of the
 voting rights of all issued and outstanding Shares.

64. The
 accidental omission to give notice of a meeting to or the non-receipt of a notice of a meeting
 by any Shareholder shall not invalidate the proceedings at any meeting.

**PROCEEDINGS AT GENERAL MEETINGS**

65. No
 business except for the appointment of a chairman for the meeting shall be transacted at
 any general meeting unless a quorum of Shareholders is present at the time when the meeting
 proceeds to business. One or more Shareholders who together hold Shares which carry in aggregate
 not less than one-third (1/3) of all votes attaching to all issued and outstanding Shares
 that carry the right to vote at such general meeting, present in person or by proxy or, if
 a corporation or other non-natural person, by its duly authorized representative, shall be
 a quorum for all purposes.

66. If
 within fifteen (15) minutes from the time appointed for the meeting a quorum is not present,
 the meeting shall be dissolved.

67. If
 the Directors wish to make this facility available for a specific general meeting or all
 general meetings of the Company, participation in any general meeting of the Company may
 be by means of a telephone or similar communication equipment by way of which all Persons
 participating in such meeting can communicate with each other and such participation shall
 be deemed to constitute presence in person at the meeting.

68. The
 Chairman, if any, of the Board of Directors shall preside as chairman at every general meeting
 of the Company.

69. If
 there is no such Chairman of the Board of Directors, or if at any general meeting he is not
 present within fifteen minutes after the time appointed for holding the meeting or is unwilling
 to act as chairman, any Director or Person nominated by the Directors shall preside as chairman
 of that meeting, failing which the Shareholders present in person or by proxy shall choose
 any Person present to be chairman of that meeting.

70. The
 chairman may with the consent of any general meeting at which a quorum is present (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 meeting, or adjourned
 meeting, is adjourned for seven calendar 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
 meeting.

71. The
 Directors may cancel or postpone any duly convened general meeting at any time prior to such
 meeting, except for general meetings requisitioned by the Shareholders in accordance with
 these Articles, for any reason or for no reason, upon notice in writing to Shareholders.
 A postponement may be for a stated period of any length or indefinitely as the Directors
 may determine. Notice of the business to be transacted at such postponed general meeting
 shall not be required. If a general meeting is postponed in accordance with this Article,
 the appointment of a proxy will be valid if it is received as required by the Articles not
 less than 48 hours before the time appointed for holding the postponed meeting.

72. 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. A poll may be demanded by the chairman of the meeting or by at least two Shareholders
 who together hold Shares which carry in aggregate not less than ten percent of the votes
 attaching to all issued and outstanding Shares that carry the right to vote at such general
 meeting, present in person or by proxy or, if a corporation or other non-natural person,
 by its duly authorized representative. Unless a poll is so demanded, a declaration by the
 chairman of the meeting that a resolution has, on a show of hands, been carried, or carried
 unanimously, or by a particular majority, or lost, and an entry to that effect in the book
 of the proceedings of the Company, shall be conclusive evidence of the fact, without proof
 of the number or proportion of the votes recorded in favor of, or against, that resolution.

73. If
 a poll is duly demanded it shall be taken in such manner as the chairman of the meeting directs,
 and the result of the poll shall be deemed to be the resolution of the meeting at which the
 poll was demanded.

74. All
 questions submitted to a meeting shall be decided by an Ordinary Resolution except where
 a greater majority is required by these Articles or by the Companies Act. In the case of
 an equality of votes, whether on a show of hands or on a poll, the chairman of the meeting
 at which the show of hands takes place or at which the poll is demanded, shall not be entitled
 to a second or casting vote.

75. A
 poll demanded on the election of a chairman of the meeting or on a question of adjournment
 shall be taken forthwith. A poll demanded on any other question shall be taken at such time
 as the chairman of the meeting directs.

**VOTES OF SHAREHOLDERS**

76. Subject
 to any rights and restrictions for the time being attached to any Share, on a show of hands
 every Shareholder present in person or by proxy (or, if a corporation or other non-natural
 person, by its duly authorized representative or proxy):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76.1 holding
 Class A Ordinary Shares shall, at a general meeting of the Company, each have one vote and
 on a poll every Shareholder present in person or by proxy (or, if a corporation or other
 non-natural person, by its duly authorized representative or proxy) shall have one vote for
 each Ordinary Share of which he is the holder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76.2 holding
 Class B Ordinary Shares shall, at a general meeting of the Company, each have twenty-five
 votes and on a poll every Shareholder present in person or by proxy (or, if a corporation
 or other non-natural person, by its duly authorized representative or proxy) shall have one
 vote for each Ordinary Share of which he is the holder.

77. In
 the case of joint holders the vote of the senior who tenders a vote whether in person or
 by proxy (or, if a corporation or other non-natural person, by its duly authorized representative
 or 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.

78. Shares
 carrying the right to vote that are held by a Shareholder of unsound mind, or in respect
 of whom an order has been made by any court having jurisdiction in lunacy, may be voted,
 whether on a show of hands or on a poll, by his committee, or other Person in the nature
 of a committee appointed by that court, and any such committee or other Person may vote in
 respect of such Shares by proxy.

79. No
 Shareholder shall be entitled to vote at any general meeting of the Company unless all calls,
 if any, or other sums presently payable by him in respect of Shares carrying the right to
 vote held by him have been paid.

80. On
 a poll votes may be given either personally or by proxy.

81. Each
 Shareholder, other than a recognized clearing house (or its nominee(s)) or depositary (or
 its nominee(s)), may only appoint one proxy on a show of hand and on a poll, each such proxy
 is under no obligation to cast all his votes in the same way. The instrument appointing a
 proxy shall be in writing under the hand of the appointor or of his attorney duly authorized
 in writing or, if the appointor is a corporation, either under Seal or under the hand of
 an officer or attorney duly authorized. A proxy need not be a Shareholder. On a poll a Shareholder
 entitled to more than one vote need not use all his votes or cast all his votes in the same
 way.

82. An
 instrument appointing a proxy may be in any usual or common form or such other form as the
 Directors may approve.

83. The
 instrument appointing a proxy shall be deposited at the Registered Office or at such other
 place as is specified for that purpose in the notice convening the meeting, or in any instrument
 of proxy sent out by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not
 less than 48 hours before the time for holding the meeting or adjourned meeting at which
 the person named in the instrument proposes to vote; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 the case of a poll taken more than 48 hours after it is demanded, be deposited as aforesaid
 after the poll has been demanded and not less than 24 hours before the time appointed for
 the taking of the poll; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 the poll is not taken forthwith but is taken not more than 48 hours after it was demanded
 be delivered at the meeting at which the poll was demanded to the chairman or to the secretary
 or to any director;

provided that the Directors may in the notice convening the meeting, or in any instrument of proxy sent out by the Company, direct that the instrument appointing a proxy may be deposited at such other time (no later than the time for holding the meeting or adjourned meeting) at the Registered Office or at such other place as is specified for that purpose in the notice convening the meeting, or in any instrument of proxy sent out by the Company. The chairman of the meeting may in any event at his discretion direct that an instrument of proxy shall be deemed to have been duly deposited. An instrument of proxy that is not deposited in the manner permitted shall be invalid.

84. The
 instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding
 a poll.

85. A
 resolution in writing signed by all the Shareholders for the time being entitled to receive
 notice of and to attend and vote at general meetings of the Company (or being corporations
 by their duly authorized 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.

**CORPORATIONS ACTING BY REPRESENTATIVES AT MEETINGS**

86. Any
 corporation which is a Shareholder or a Director may by resolution of its directors or other
 governing body authorize such Person as it thinks fit to act as its representative at any
 meeting of the Company or of any meeting of holders of a Class or of the Directors or of
 a committee of Directors, and the Person so authorized shall be entitled to exercise the
 same powers on behalf of the corporation which he represents as that corporation could exercise
 if it were an individual Shareholder or Director.

**DEPOSITARY AND CLEARING HOUSES**

87. If
 a recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) is a Member
 of the Company it may, by resolution of its directors or other governing body or by power
 of attorney, authorize such Person(s) as it thinks fit to act as its representative(s) at
 any general meeting of the Company or of any Class of Shareholders provided that, if more
 than one Person is so authorized, the authorization shall specify the number and Class of
 Shares in respect of which each such Person is so authorized. A Person so authorized pursuant
 to this Article shall be entitled to exercise the same powers on behalf of the recognized
 clearing house (or its nominee(s)) or depositary (or its nominee(s)) which he represents
 as that recognized clearing house (or its nominee(s)) or depositary (or its nominee(s)) could
 exercise if it were an individual Member holding the number and Class of Shares specified
 in such authorization, including the right to vote individually on a show of hands.

**DIRECTORS**

88. (a) Unless
 otherwise determined by the Company in general meeting, the minimum number of Directors shall
 be one (1) Director, and there shall be no maximum number of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Board of Directors shall have a Chairman elected and appointed by a majority of the Directors
 then in office. The period for which the Chairman will hold office will also be determined
 by a majority of all of the Directors then in office. The Chairman shall preside as chairman
 at every meeting of the Board of Directors, save and except that if the Chairman is not present
 at a meeting of the Board of Directors within fifteen minutes after the time appointed for
 holding the same, or if the Chairman is unable or unwilling to act as the chairman of a meeting
 of the Board of Directors, the attending Directors may choose one of their number to be the
 chairman of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 Company may by Ordinary Resolution appoint any person to be a Director and the appointment
 of such Director shall firstly have been approved by the Board of Directors or any committee
 of the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The
 Board may, by the affirmative vote of a simple majority of the remaining Directors present
 and voting at a Board meeting, appoint any person as a Director, to fill a casual vacancy
 on the Board or as an addition to the existing Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A
 Director shall hold office until the expiration of his or her term or his or her successor
 shall have been elected and qualified, or until his or her office is otherwise vacated.

89. A
 Director may be removed from office by Ordinary Resolution of the Company, notwithstanding
 anything in these Articles or in any agreement between the Company and such Director (but
 without prejudice to any claim for damages under such agreement). A vacancy on the Board

 Resolution or by the affirmative vote of a simple majority of the remaining Directors present
 and voting at a Board meeting. The notice of any meeting at which a resolution to remove
 a Director shall be proposed or voted upon must contain a statement of the intention to remove
 that Director and such notice must be served on that Director not less than ten (10) calendar
 days before the meeting. Such Director is entitled to attend the meeting and be heard on
 the motion for his removal.

90. The
 Board may, from time to time, and except as required by applicable law or Designated Stock
 Exchange Rules, adopt, institute, amend, modify or revoke the corporate governance policies
 or initiatives of the Company and determine on various corporate governance related matters
 of the Company as the Board shall determine by resolution of Directors from time to time.

91. A
 Director shall not be required to hold any Shares in the Company by way of qualification
 unless and until it is so fixed by Ordinary Resolution. A Director who is not a Member of
 the Company shall nevertheless be entitled to attend and speak at general meetings.

92. Unless
 the remuneration of the Directors is determined by Ordinary Resolution, the remuneration
 of the Directors shall be determined by the Directors.

93. The
 Directors shall 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 such 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.

**ALTERNATE DIRECTOR OR PROXY**

94. Any
 Director may in writing appoint another Person to be his alternate and, save to the extent
 provided otherwise in the form of appointment, such alternate shall have authority to sign
 written resolutions on behalf of the appointing Director, but shall not be required to sign
 such written resolutions where they have been signed by the appointing director, and to act
 in such Director's place at any meeting of the Directors at which the appointing Director
 is unable to be present. Every such alternate shall be entitled to attend and vote at meetings
 of the Directors as a Director when the Director appointing him is not personally present
 and where he is a Director to have a separate vote on behalf of the Director he is representing
 in addition to his own vote. A Director may at any time in writing revoke the appointment
 of an alternate appointed by him. Such alternate shall be deemed for all purposes to be a
 Director of the Company and shall not be deemed to be the agent of the Director appointing
 him. The remuneration of such alternate shall be payable out of the remuneration of the Director
 appointing him and the proportion thereof shall be agreed between them.

95. Any
 Director may appoint any Person, whether or not a Director, to be the proxy of that Director
 to attend and vote on his behalf, in accordance with instructions given by that Director,
 or in the absence of such instructions at the discretion of the proxy, at a meeting or meetings
 of the Directors which that Director is unable to attend personally. The instrument appointing
 the proxy shall be in writing under the hand of the appointing Director and shall be in any
 usual or common form or such other form as the Directors may approve, and must be lodged
 with the chairman of the meeting of the Directors at which such proxy is to be used, or first
 used, prior to the commencement of the meeting.

**DISQUALIFICATION OF DIRECTORS**

96. The
 office of Director shall be vacated, if the Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) becomes
 bankrupt or makes any arrangement or composition with his creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) dies
 or is found to be or becomes of unsound mind;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) resigns
 his office by notice in writing to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) in
 the opinion of a registered medical practitioner by whom he is being treated he becomes physically
 or mentally incapable of acting as a Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) is
 given notice by the majority of the other Directors (not being less than two in number) to
 vacate office (without prejudice to any claim for damages for breach of any agreement relating
 to the provision of the services of such director);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) he
 is made subject to any law relating to mental health or incompetence, whether by court order
 or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) without
 consent of the Board, is absent from meetings of the Board for continuous period of six months;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) is
 prohibited by any applicable law or Designated Stock Exchange Rules from being a Director;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is
 removed from office pursuant to any other provision of these Articles.

**POWERS AND DUTIES OF DIRECTORS**

97. Subject
 to the Companies Act, these Articles and to any resolutions passed in a general meeting,
 the business of the Company shall be managed by the Directors, who may pay all expenses incurred
 in setting up and registering the Company and may exercise all powers of the Company. No
 resolution passed by the Company in general meeting shall invalidate any prior act of the
 Directors that would have been valid if that resolution had not been passed.

98. Subject
 to these Articles, the Directors may from time to time appoint any natural person or corporation,
 whether or not a Director to hold such office in the Company as the Directors may think necessary
 for the administration of the Company, including but not limited to, chief executive officer,
 one or more other executive officers, president, one or more vice-presidents, treasurer,
 assistant treasurer, manager or controller, and 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), and with such powers and duties as the Directors may think fit. Any natural
 person or corporation so appointed by the Directors may be removed by the Directors. The
 Directors may also appoint one or more of their number to the office of managing director
 upon like terms, but any such appointment shall ipso facto terminate if any managing director
 ceases for any cause to be a Director, or if the Company by Ordinary Resolution resolves
 that his tenure of office be terminated.

99. The
 Directors may appoint any natural person or corporation to be a Secretary (and if need be
 an assistant Secretary or assistant Secretaries) who shall hold office for such term, at
 such remuneration and upon such conditions and with such powers as they think fit. Any Secretary
 or assistant Secretary so appointed by the Directors may be removed by the Directors.

100. The
 Directors may delegate any of their powers to committees consisting of such member or members
 of their body 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.

101. The
 Directors may from time to time and at any time by power of attorney (whether under Seal
 or under hand) or otherwise appoint any company, firm or Person or body of Persons, whether
 nominated directly or indirectly by the Directors, to be the attorney or attorneys or authorized
 signatory (any such person being an "Attorney" or "Authorized Signatory",
 respectively) of the Company for such purposes and with such powers, authorities and discretion
 (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 power
 of attorney or other appointment may contain such provisions for the protection and convenience
 of Persons dealing with any such Attorney or Authorized Signatory as the Directors may think
 fit, and may also authorize any such Attorney or Authorized Signatory to delegate all or
 any of the powers, authorities and discretion vested in him.

102. 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
 Articles shall not limit the general powers conferred by this Article.

103. 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 natural person
 or corporation to be a member of such committees or local boards and may appoint any managers
 or agents of the Company and may fix the remuneration of any such natural person or corporation.

104. 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 authorize the members for the time being of any such local board,
 or any of them to fill 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 natural person or
 corporation so appointed and may revoke or vary any such delegation, but no Person dealing
 in good faith and without notice of any such revocation or variation shall be affected thereby.

105. Any
 such delegates as aforesaid may be authorized by the Directors to sub-delegate all or any
 of the powers, authorities, and discretion for the time being vested in them.

**BORROWING POWERS OF DIRECTORS**

106. The
 Directors may from time to time at their discretion exercise all the powers of the Company
 to borrow money, to mortgage or charge all or any part of its undertaking, property and assets
 (present and future) and uncalled capital, and to issue debentures, bonds and other securities,
 whenever money is borrowed or as security for any debt, liability or obligation of the Company
 or of any third party.

**THE SEAL**

107. The
 Seal shall not be affixed to any instrument except by the authority of a resolution of the
 Directors provided always that such authority may be given prior to or after the affixing
 of the Seal and if given after may be in general form confirming a number of affixings of
 the Seal. The Seal shall be affixed in the presence of a Director or a Secretary (or an assistant
 Secretary) or in the presence of any one or more Persons as the Directors may appoint for
 the purpose and every Person as aforesaid shall sign every instrument to which the Seal is
 so affixed in their presence.

108. The
 Company may maintain a facsimile of the Seal in such countries or places as the Directors
 may appoint and such facsimile Seal shall not be affixed to any instrument except by the
 authority of a resolution of the Directors provided always that such authority may be given
 prior to or after the affixing of such facsimile Seal and if given after may be in general
 form confirming a number of affixings of such facsimile Seal. The facsimile Seal shall be
 affixed in the presence of such Person or Persons as the Directors shall for this purpose
 appoint and such Person or Persons as aforesaid shall sign every instrument to which the
 facsimile Seal is so affixed in their presence and such affixing of the facsimile Seal and
 signing as aforesaid shall have the same meaning and effect as if the Seal had been affixed
 in the presence of and the instrument signed by a Director or a Secretary (or an assistant
 Secretary) or in the presence of any one or more Persons as the Directors may appoint for
 the purpose.

109. Notwithstanding
 the foregoing, a Secretary or any assistant Secretary shall have the authority to affix the
 Seal, or the facsimile Seal, to any instrument for the purposes of attesting authenticity
 of the matter contained therein but which does not create any obligation binding on the Company.

**PROCEEDINGS OF DIRECTORS**

110. The
 Directors may meet together (either within or without the Cayman Islands) for the despatch
 of business, adjourn, and otherwise regulate their meetings and proceedings as they think
 fit. Questions arising at any meeting shall be decided by a majority of votes. At any meeting
 of the Directors, each Director present in person or represented by his proxy or alternate
 shall be entitled to one vote. In case of an equality of votes the chairman of the meeting
 shall have a second or casting vote. A Director may, and a Secretary or assistant Secretary
 on the requisition of a Director shall, at any time summon a meeting of the Directors.

111. A
 Director may participate in any meeting of the Directors, or of any committee appointed by
 the Directors of which such Director is a member, by means of telephone or similar communication
 equipment by way of which all Persons participating in such meeting can communicate with
 each other and such participation shall be deemed to constitute presence in person at the
 meeting.

112. The
 quorum necessary for the transaction of the business of the Board may be fixed by the Directors,
 and unless so fixed, the quorum shall be a majority of Directors then in office. A Director
 represented by proxy or by an alternate Director at any meeting shall be deemed to be present
 for the purposes of determining whether or not a quorum is present.

113. A
 Director who is in any way, whether directly or indirectly, interested in a contract or proposed
 contract or arrangement with the Company shall declare the nature of his interest at a meeting
 of the Directors. A general notice given to the Directors by any Director to the effect that
 he is a member of any specified company or firm and is to be regarded as interested in any
 contract or transaction which may thereafter be made with that company or firm shall be deemed
 a sufficient declaration of interest in regard to any contract so made or transaction so
 consummated. A Director may vote in respect of any contract or proposed contract or arrangement
 notwithstanding that he may be interested therein and if he does so his vote shall be counted
 and he may be counted in the quorum at any meeting of the Directors at which any such contract
 or proposed contract or arrangement shall come before the meeting for consideration, provided
 that (a) such Director, if his interest (whether direct or indirect) in such contract or
 arrangement is material, has declared the nature of his interest at the earliest meeting
 of the Board at which it is practicable for him to do so, either specifically or by way of
 a general notice and (b) if such contract or arrangement is a transaction with a related
 party, such transaction has been approved by the audit committee of the Company.

114. A
 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 and no Director or intending
 Director shall be disqualified by his office from contracting with the Company either with
 regard to his tenure of any such other office or place of profit or as vendor, purchaser
 or otherwise, nor shall any such contract or arrangement entered into by or on behalf of
 the Company in which any Director is in any way interested be liable to be avoided, nor shall
 any Director so contracting or being so interested be liable to account to the Company for
 any profit realized by any such contract or arrangement by reason of such Director holding
 that office or of the fiduciary relation thereby established. A Director, notwithstanding
 his interest, may be counted in the quorum present at any meeting of the Directors whereat
 he or any other Director is appointed to hold any such office or place of profit under the
 Company or whereat the terms of any such appointment are arranged and he may vote on any
 such appointment or arrangement.

115. Any
 Director may act by himself or through 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; provided that nothing herein contained shall authorize a Director or his
 firm to act as auditor to the Company.

116. The
 Directors shall cause minutes to be made for the purpose of recording:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of the Directors present at each meeting of the Directors and of any committee of the
 Directors; and

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

117. When
 the chairman of a meeting of the Directors signs the minutes of such meeting the same shall
 be deemed to have been duly held notwithstanding that all the Directors have not actually
 come together or that there may have been a technical defect in the proceedings.

118. A
 resolution in writing signed by all the Directors or all the members of a committee of Directors
 entitled to receive notice of a meeting of Directors or committee of Directors, as the case
 may be (an alternate Director, subject as provided otherwise in the terms of appointment
 of the alternate Director, being entitled to sign such a resolution on behalf of his appointer),
 shall be as valid and effectual as if it had been passed at a duly called and constituted
 meeting of Directors or committee of Directors, as the case may be. When signed a resolution
 may consist of several documents each signed by one or more of the Directors or his duly
 appointed alternate.

119. The
 continuing Directors may act notwithstanding any vacancy in their body but if and for 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 may act for the purpose of increasing
 the number, or of summoning a general meeting of the Company, but for no other purpose.

120. Subject
 to any regulations imposed on it by the Directors, a committee appointed by the Directors
 may elect a chairman of its meetings. If no such chairman is elected, or if at any meeting
 the chairman is not present within fifteen minutes after the time appointed for holding the
 meeting, the committee members present may choose one of their number to be chairman of the
 meeting.

121. A
 committee appointed by the Directors may meet and adjourn as it thinks proper. Subject to
 any regulations imposed on it by the Directors, questions arising at any meeting shall be
 determined by a majority of votes of the committee members present and in case of an equality
 of votes the chairman shall not have a second or casting vote.

122. All
 acts done by any meeting of the Directors or of a committee of Directors, or by any Person
 acting as a Director, shall notwithstanding that it be afterwards discovered that there was
 some defect in the appointment of any such Director or Person acting as aforesaid, or that
 they or any of them were disqualified, be as valid as if every such Person had been duly
 appointed and was qualified to be a Director.

**PRESUMPTION OF ASSENT**

123. A
 Director who is present at a meeting of the Board of Directors at which an 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 chairman or secretary of the meeting
 before the adjournment thereof or shall forward such dissent by registered post to such person
 immediately after the adjournment of the meeting. Such right to dissent shall not apply to
 a Director who voted in favor of such action.

**DIVIDENDS**

124. Subject
 to any rights and restrictions for the time being attached to any Shares, the Directors may
 from time to time declare dividends (including interim dividends) and other distributions
 on Shares in issue and authorize payment of the same out of the funds of the Company lawfully
 available therefor.

125. Subject
 to any rights and restrictions for the time being attached to any Shares, the Company by
 Ordinary Resolution may declare dividends, but no dividend shall exceed the amount recommended
 by the Directors.

126. The
 Directors may, before recommending or declaring any dividend, set aside out of the funds
 legally available for distribution such sums as they think proper as a reserve or reserves
 which shall, in the absolute discretion of the Directors, be applicable for meeting contingencies
 or for equalizing dividends or for any other purpose to which those funds may be properly
 applied, and pending such application may in the absolute discretion of the Directors, either
 be employed in the business of the Company or be invested in such investments (other than
 Shares of the Company) as the Directors may from time to time think fit.

127. Any
 dividend payable in cash to the holder of Shares may be paid in any manner determined by
 the Directors. If paid by cheque it will be sent by mail addressed to the holder at his address
 in the Register, or addressed to such person and at such addresses as the holder may direct.
 Every such cheque or warrant shall, unless the holder or joint holders otherwise direct,
 be made payable to the order of the holder or, in the case of joint holders, to the order
 of the holder whose name stands first on the Register in respect of such Shares, and shall
 be sent at his or their risk and payment of the cheque or warrant by the bank on which it
 is drawn shall constitute a good discharge to the Company.

128. The
 Directors may determine that a dividend shall be paid wholly or partly by the distribution
 of specific assets (which may consist of the shares or securities of any other company) and
 may settle all questions concerning such distribution. Without limiting the generality of
 the foregoing, the Directors may fix the value of such specific assets, may determine that
 cash payment shall be made to some Shareholders in lieu of specific assets and may vest any
 such specific assets in trustees on such terms as the Directors think fit.

129. Subject
 to any rights and restrictions for the time being attached to any Shares, all dividends shall
 be declared and paid according to the amounts paid up on the Shares, but if and for so long
 as nothing is paid up on any of the Shares dividends may be declared and paid according to
 the par value of the Shares. No amount paid on a Share in advance of calls shall, while carrying
 interest, be treated for the purposes of this Article as paid on the Share.

130. If
 several Persons are registered as joint holders of any Share, any of them may give effective
 receipts for any dividend or other moneys payable on or in respect of the Share.

131. No
 dividend shall bear interest against the Company.

132. Any
 dividend unclaimed after a period of six calendar years from the date of declaration of such
 dividend may be forfeited by the Board of Directors and, if so forfeited, shall revert to
 the Company.

**ACCOUNTS, AUDIT AND ANNUAL RETURN AND DECLARATION**

133. The
 books of account relating to the Company's affairs shall be kept in such manner as
 may be determined from time to time by the Directors.

134. The
 books of account shall be kept at the Registered Office, or at such other place or places
 as the Directors think fit, and shall always be open to the inspection of the Directors.

135. The
 Directors may 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 Shareholders not being Directors, and no Shareholder
 (not being a Director) shall have any right to inspect any account or book or document of
 the Company except as conferred by any applicable law or authorized by the Directors or by
 Ordinary Resolution.

136. The
 accounts relating to the Company's affairs shall be audited in such manner and with
 such financial year end as may be determined from time to time by the Directors or failing
 any determination as aforesaid shall not be audited.

137. The
 Directors may appoint an auditor of the Company who shall hold office until removed from
 office by a resolution of the Directors and may fix his or their remuneration.

138. 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.

139. The
 auditors shall, if so required by the Directors, make a report on the accounts of the Company
 during their tenure of office at the next annual general meeting following their appointment,
 and at any time during their term of office, upon request of the Directors or any general
 meeting of the Members.

140. The
 Directors in each calendar year shall prepare, or cause to be prepared, an annual return
 and declaration setting forth the particulars required by the Companies Act and deliver a
 copy thereof to the Registrar of Companies in the Cayman Islands.

**CAPITALISATION OF RESERVES**

141. Subject
 to the Companies Act, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve
 to capitalize any sum standing to the credit of any of the Company's reserve accounts
 or funds (including the Share Premium Account and capital redemption reserve fund) or any
 sum standing to the credit of the profit and loss account or otherwise available for distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) appropriate
 the sum resolved to be capitalized to the Shareholders in proportion to the nominal amount
 of Shares (whether or not fully paid) held by them respectively and apply that sum on their
 behalf in or towards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) paying
 up the amounts (if any) for the time being unpaid on Shares held by them respectively, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) paying
 up in full unissued Shares or debentures of a nominal amount equal to that sum,

and allot the Shares or debentures, credited as fully paid, to the Shareholders (or as they may direct) in those proportions, or partly in one way and partly in the other, but the Share Premium Account, the capital redemption reserve and profits which are not available for distribution may, for the purposes of this Article, only be applied in paying up unissued Shares to be allotted to Shareholders credited as fully paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make
 any arrangements they think fit to resolve a difficulty arising in the distribution of a
 capitalized reserve and in particular, without limitation, where Shares or debentures become
 distributable in fractions the Directors may deal with the fractions as they think fit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) authorize
 a Person to enter (on behalf of all the Shareholders concerned) into an agreement with the
 Company providing for either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 allotment to the Shareholders respectively, credited as fully paid, of Shares or debentures
 to which they may be entitled on the capitalization, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 payment by the Company on behalf of the Shareholders (by the application of their respective
 proportions of the reserves resolved to be capitalized) of the amounts or part of the amounts
 remaining unpaid on their existing Shares,

and any such agreement made under this authority being effective and binding on all those Shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) generally
 do all acts and things required to give effect to the resolution.

142. Notwithstanding
 any provisions in these Articles, the Directors may resolve to capitalize any sum standing
 to the credit of any of the Company's reserve accounts or funds (including the Share
 Premium Account and capital redemption reserve fund) or any sum standing to the credit of
 the profit and loss account or otherwise available for distribution by applying such sum
 in paying up in full unissued Shares to be allotted and issued to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) employees
 (including Directors) or service providers of the Company or its Affiliates upon exercise
 or vesting of any options or awards granted under any share incentive scheme or employee
 benefit scheme or other arrangement which relates to such persons that has been adopted or
 approved by the Directors or the Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 trustee of any trust or administrator of any share incentive scheme or employee benefit scheme
 to whom shares are to be allotted and issued by the Company in connection with the operation
 of any share incentive scheme or employee benefit scheme or other arrangement which relates
 to such persons that has been adopted or approved by the Directors or Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 depositary of the Company for the purposes of the issue, allotment and delivery by the depositary
 of ADSs to employees (including Directors) or service providers of the Company or its Affiliates
 upon exercise or vesting of any options or awards granted under any share incentive scheme
 or employee benefit scheme or other arrangement which relates to such persons that has been
 adopted or approved by the Directors or the Members.

**SHARE PREMIUM ACCOUNT**

143. The
 Directors shall in accordance with the Companies Act establish a Share Premium Account and
 shall carry to the credit of such account from time to time a sum equal to the amount or
 value of the premium paid on the issue of any Share.

144. There
 shall be debited to any Share Premium Account on the redemption or purchase of a Share the
 difference between the nominal value of such Share and the redemption or purchase price provided
 always that at the discretion of the Directors such sum may be paid out of the profits of
 the Company or, if permitted by the Companies Act, out of capital.

**NOTICES**

145. Except
 as otherwise provided in these Articles, any notice or document may be served by the Company
 or by the Person entitled to give notice to any Shareholder either personally, or by posting
 it by airmail or by a recognized courier service in a prepaid letter addressed to such Shareholder
 at his address as appearing in the Register, or by electronic mail to any electronic mail
 address such Shareholder may have specified in writing for the purpose of such service of
 notices, or by facsimile to any facsimile number such Shareholder may have specified in writing
 for the purpose of such service of notices, or by placing it on the Company's Website
 should the Directors deem it appropriate. In the case of joint holders of a Share, all notices
 shall be given to that one of the joint holders whose name stands first in the Register in
 respect of the joint holding, and notice so given shall be sufficient notice to all the joint
 holders.

146. Any
 notice, if send from one country to another, shall be sent by airmail or by a recognized
 courier service.

147. Any
 Shareholder present, either personally or by proxy, at any meeting of the Company shall for
 all purposes be deemed to have received due notice of such meeting and, where requisite,
 of the purposes for which such meeting was convened.

148. Any
 notice or other document, if served by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) post,
 shall be deemed to have been served five calendar days after the time when the letter containing
 the same is posted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) facsimile,
 shall be deemed to have been served upon production by the transmitting facsimile machine
 of a report confirming transmission of the facsimile in full to the facsimile number of the
 recipient;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) recognized
 courier service, shall be deemed to have been served 48 hours after the time when the letter
 containing the same is delivered to the courier service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) electronic
 mail, shall be deemed to have been served immediately upon the time of the transmission by
 electronic mail; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) placing
 it on the Company's Website, shall be deemed to have been served immediately upon the
 time when the same is placed on the Company's Website.

In proving service by post or courier service it shall be sufficient to prove that the letter containing the notice or documents was properly addressed and duly posted or delivered to the courier service.

149. Any
 notice or document delivered or sent by post to or left at the registered address of any
 Shareholder in accordance with the terms of these Articles shall notwithstanding that such
 Shareholder be then dead or bankrupt, and whether or not the Company has notice of his death
 or bankruptcy, be deemed to have been duly served in respect of any Share registered in the
 name of such Shareholder as sole or joint holder, unless his name shall at the time of the
 service of the notice or document have been removed from the Register as the holder of the
 Share, and such service shall for all purposes be deemed a sufficient service of such notice
 or document on all Persons interested (whether jointly with or as claiming through or under
 him) in the Share.

150. Notice
 of every general meeting of the Company shall be given to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Shareholders holding Shares with the right to receive notice and who have supplied to the
 Company an address for the giving of notices to them; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) every
 Person entitled to a Share in consequence of the death or bankruptcy of a Shareholder, who
 but for his death or bankruptcy would be entitled to receive notice of the meeting.

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

**INFORMATION**

151. No
 Member shall be entitled to require discovery of any information in respect of any detail
 of the Company's trading or any information which is or may be in the nature of a trade
 secret or secret process which may relate to the conduct of the business of the Company and
 which in the opinion of the Board would not be in the interests of the Members of the Company
 to communicate to the public.

152. The
 Board shall be entitled to release or disclose any information in its possession, custody
 or control regarding the Company or its affairs to any of its Members including, without
 limitation, information contained in the Register and transfer books of the Company.

**INDEMNITY**

153. Every
 Director (including for the purposes of this Article any alternate Director appointed pursuant
 to the provisions of these Articles), Secretary, assistant Secretary, or other officer for
 the time being and from time to time of the Company (but not including the Company's
 auditors) and the personal representatives of the same (each an "**Indemnified Person** ")
 shall be indemnified and secured harmless against all actions, proceedings, costs, charges,
 expenses, losses, damages or liabilities incurred or sustained by such Indemnified Person,
 other than by reason of such Indemnified Person's own dishonesty, willful default or
 fraud, in or about the conduct of the Company's business or affairs (including as a
 result of any mistake of judgment) or in the execution or discharge of his duties, powers,
 authorities or discretions, including without prejudice to the generality of the foregoing,
 any costs, expenses, losses or liabilities incurred by such Indemnified Person in defending
 (whether successfully or otherwise) any civil proceedings concerning the Company or its affairs
 in any court whether in the Cayman Islands or elsewhere.

154. No
 Indemnified Person shall be liable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for
 the acts, receipts, neglects, defaults or omissions of any other Director or officer or agent
 of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 any loss on account of defect of title to any property of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) on
 account of the insufficiency of any security in or upon which any money of the Company shall
 be invested; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) for
 any loss incurred through any bank, broker or other similar Person; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) for
 any loss occasioned by any negligence, default, breach of duty, breach of trust, error of
 judgement or oversight on such Indemnified Person's part; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) for
 any loss, damage or misfortune whatsoever which may happen in or arise from the execution
 or discharge of the duties, powers, authorities, or discretions of such Indemnified Person's
 office or in relation thereto;

unless the same shall happen through such Indemnified Person's own dishonesty, willful default or fraud.

**FINANCIAL YEAR**

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

**NON-RECOGNITION OF TRUSTS**

156. No
 Person shall be recognized by the Company as holding any Share upon any trust and the Company
 shall not, unless required by law, be bound by or be compelled in any way to recognize (even
 when having notice thereof) any equitable, contingent, future or partial interest in any
 Share or (except only as otherwise provided by these Articles or as the Companies Act requires)
 any other right in respect of any Share except an absolute right to the entirety thereof
 in each Shareholder registered in the Register.

**WINDING UP**

157. 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 Companies Act, divide amongst the Members
 in species or in 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 that purpose value any assets and
 determine how the 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 Members as the liquidator, with
 the like sanction, shall think fit, but so that no Member shall be compelled to accept any
 asset upon which there is a liability.

158. If
 the Company shall be wound up, and the assets available for distribution amongst the Members
 shall be more than sufficient to repay the whole of the share capital at the commencement
 of the winding up, the surplus shall be distributed amongst the Members in proportion to
 the par value of the Shares held by them at the commencement of the winding up subject to
 a deduction from those Shares in respect of which there are monies due, of all monies payable
 to the Company for unpaid calls or otherwise. If in a winding up, the assets available for
 distribution amongst the Members shall be insufficient to repay the whole of the share 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 par value of the Shares held by them. This Article is
 without prejudice to the rights of the holders of Shares issued upon special terms and conditions.

**AMENDMENT OF ARTICLES OF ASSOCIATION**

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

**CLOSING OF REGISTER OR FIXING RECORD DATE**

160. For
 the purpose of determining those Shareholders that are entitled to receive notice of, attend
 or vote at any meeting of Shareholders or any adjournment thereof, or those Shareholders
 that are entitled to receive payment of any dividend, or in order to make a determination
 as to who is a Shareholder for any other purpose, the Directors may provide that the Register
 shall be closed for transfers for a stated period which shall not exceed in any case thirty
 calendar days in any calendar year.

161. In
 lieu of or apart from closing the Register, the Directors may fix in advance a date as the
 record date for any such determination of those Shareholders that are entitled to receive
 notice of, attend or vote at a meeting of the Shareholders and for the purpose of determining
 those Shareholders that are entitled to receive payment of any dividend the Directors may,
 at or within ninety calendar days prior to the date of declaration of such dividend, fix
 a subsequent date as the record date for such determination.

162. If
 the Register is not so closed and no record date is fixed for the determination of those
 Shareholders entitled to receive notice of, attend or vote at a meeting of Shareholders or
 those Shareholders that are entitled to receive payment of a dividend, the date on which
 notice of the meeting is posted 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 Shareholders. When a determination of those Shareholders that are entitled to receive
 notice of, attend or vote at a meeting of Shareholders has been made as provided in this
 Article, such determination shall apply to any adjournment thereof.

**REGISTRATION BY WAY OF CONTINUATION**

163. The
 Company may by Special Resolution resolve to be registered by way of continuation in a jurisdiction
 outside the Cayman Islands or such other jurisdiction in which it is for the time being incorporated,
 registered or existing. In furtherance of a resolution adopted pursuant to this Article,
 the Directors may cause an application to be made to the Registrar of Companies to deregister
 the Company in the Cayman Islands or such other jurisdiction in which it is for the time
 being incorporated, registered or existing and may cause all such further steps as they consider
 appropriate to be taken to effect the transfer by way of continuation of the Company.

**MERGERS AND CONSOLIDATIONS**

164. The
 Company shall have the power to merge or consolidate with one or more other constituent companies
 (as defined in the Companies Act) upon such terms as the Directors may determine and (to
 the extent required by the Companies Act) with the approval of a Special Resolution.

**DISCLOSURE**

165. The
 Directors, or any service providers (including the officers, the Secretary and the registered
 office agent of the Company) specifically authorized by the Directors, shall be entitled
 to disclose to any regulatory or judicial authority any information regarding the affairs
 of the Company including without limitation information contained in the Register and books
 of the Company.