# EDGAR Filing Document

**Accession Number:** 0001922097
**File Stem:** 0001104659-25-114327
**Filing Date:** 2025-11
**Character Count:** 122699
**Document Hash:** d56fbcdcc0eaf0463fe4c7712e96e5ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-114327.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001104659-25-114327

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20251120

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lanvin Group Holdings Ltd
- **CENTRAL INDEX KEY:** 0001922097
- **STANDARD INDUSTRIAL CLASSIFICATION:** APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41569
- **FILM NUMBER:** 251500926

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 4F, 168 JIUJIANG ROAD,
- **STREET 2:** CARLOWITZ & CO, HUANGPU DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4
- **BUSINESS PHONE:** (86)13636579351

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 4F, 168 JIUJIANG ROAD,
- **STREET 2:** CARLOWITZ & CO, HUANGPU DISTRICT
- **CITY:** SHANGHAI
- **PROVINCE COUNTRY:** F4

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

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

**For the Month of November 2025**

**Commission File Number: 001-41569**

**LANVIN GROUP HOLDINGS LIMITED**

**4F, 168 Jiujiang Road,<br> Carlowitz & Co, Huangpu District<br> Shanghai, 200001, China<br> (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 ◻

**INCORPORATION BY REFERENCE**

This current report on Form 6-K is incorporated by reference into the registration statement on Form F-3 (No. 333-276476), the post-effective amendment No. 5 to Form F-1 on Form F-3 (No. 333-269150) and the registration statement amendment No. 1 on Form F-3 (No. 333-280891) of Lanvin Group Holdings Limited and shall be a part thereof from the date on which this Report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | <br>**Description** |
| [99.1](tm2531733d1_ex99-1.htm) | [Lanvin Group Holdings Limited to Hold Annual General Meeting on December 18, 2025](tm2531733d1_ex99-1.htm) |
| [99.2](tm2531733d1_ex99-2.htm) | [Notice of Annual General Meeting of Shareholders](tm2531733d1_ex99-2.htm) |
| [99.3](tm2531733d1_ex99-3.htm) | [Proxy Card](tm2531733d1_ex99-3.htm) |

---

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
| **LANVIN GROUP HOLDINGS LIMITED** | **LANVIN GROUP HOLDINGS LIMITED** | **LANVIN GROUP HOLDINGS LIMITED** |
| By: | /s/ Zhen Huang | /s/ Zhen Huang |
|  | Name: | Zhen Huang |
|  | Title: | Chairman |

---

Date: November 20, 2025

## Exhibit 99.1

**Exhibit 99.1**

**Lanvin Group Holdings Limited to Hold Annual General Meeting on December 1** **8, 2025**

NEW YORK, November 20, 2025 /PRNewswire/ — Lanvin Group Holdings Limited (NYSE: LANV, the "Company" or "Lanvin Group"), a global luxury fashion group, today announced that it will hold its annual general meeting of the shareholders (the "AGM") virtually through a live webcast and teleconference on December 18, 2025 at 9:00 AM EST. The AGM will serve as an open forum for shareholders to engage with the Board of Directors and the executive management of the Company, and will be convened for the purpose of considering and, if thought fit, passing the Proposed Resolution set forth in the Notice of AGM. The Notice and the form of proxy for the AGM are available on the Company's website at <u>https://ir.lanvin-group.com</u>.

The Board of Directors fully supports the Proposed Resolution and recommends that shareholders vote in favor of it as set out in the Notice of AGM.

Only holders of record of the Company's ordinary shares with a par value of US$0.000001 each at the close of business on November 17, 2025 New York time are entitled to receive notice of, to attend and to vote at the AGM or any adjournment or postponement thereof.

The Company has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2024 (the "Form 20-F"), with the United States Securities and Exchange Commission (the "SEC"). The Form 20-F can be accessed on the Company's website at https://ir.lanvin-group.com and on the SEC's website at http://www.sec.gov.

**About Lanvin Group**

Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China and Milan, Italy, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. Lanvin Group is listed on the New York Stock Exchange under the ticker symbol "LANV". For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.

**Enquiries**:

<u>Investors</u>

**Lanvin Group** 

Coco Wang

coco.wang@lanvin-group.com

## Exhibit 99.2

**Exhibit 99.2**

Lanvin Group Holdings Limited

复朗集团

(NYSE: LANV)

**NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS**

**NOTICE IS HEREBY GIVEN** that an annual general meeting of the shareholders (the "**AGM**") of Lanvin Group Holdings Limited (the "**Company**") will be held virtually, via live webcast and teleconference, on December 18, 2025 at 9:00 AM EST. The AGM will serve as an open forum for shareholders to engage with the Board of Directors and the executive management of the Company, and will be convened for the purpose of considering and, if thought fit, passing the following resolution (the "**Proposed Resolution**"):

1. As a special
 resolution, THAT the Company's Amended and Restated Memorandum and Articles of Association
 in effect be amended and restated by the deletion in their entirety and the substitution
 in their place of the Second Amended and Restated Memorandum and Articles of Association
 annexed to this notice, by: (a) removing the shareholding structure of Convertible Preference
 Shares and all related provisions; (b) removing the shareholding structure of Non-voting
 Ordinary Shares and all related provisions; and (c) removing the position of Board Observer
 and all related provisions.

The passing of the above resolution requires approval by members of the Company holding not less than two-thirds of the voting rights of those present and voting in person or by proxy at the AGM.

The quorum of the AGM shall be one or more members holding in aggregate at least one-third of all votes attaching to all issued shares of the Company, present in person or by proxy and entitled to vote at the AGM.

Upon the passing of the Proposed Resolution, the Company's Amended and Restated Memorandum and Articles of Association shall be amended and restated by their deletion in their entirety and by the substitution in their place of the Second Amended and Restated Memorandum and Articles of Association in the form as attached hereto as **<u>Exhibit A</u>**, which is marked to show the proposed changes that would be made.

**Record Date**

Only holders of record of the Company's ordinary shares with a par value of US$0.000001 each (the "**Ordinary Shares**") at the close of business on November 17, 2025 New York time (the "**Record Date**") are entitled to receive notice of, to attend and to vote at the AGM or any adjournment or postponement thereof.

Holders of the Company's Ordinary Shares as of the Record Date are cordially invited to attend the AGM, virtually. Details of the arrangements for the virtual meeting are set out in the proxy card, which is available on the Company's website at https://ir.lanvin-group.com.

**Virtual Meeting**

The AGM can be accessed virtually through live webcast and teleconference. The live webcast of the AGM will be accessible at **<u>www.virtualshareholdermeeting.com/LANV2025</u>**. This website will be open for login 15 minutes before the commencement of the AGM.

**Proxy Card and Voting**

A holder of shares as of the Record Date may appoint a proxy or proxies to exercise his or her rights at the AGM. Please refer to the proxy card, which is available on the Company's website at https://ir.lanvin-group.com for more information. If you hold Ordinary Shares indirectly through a brokerage firm, bank or other financial institution, you must return a voting instruction form to your brokerage firm, bank or other financial institution. Please separately contact your brokerage firm, bank or other financial institution for information on how to vote.

If you hold Ordinary Shares directly, the Company must receive the completed, signed and dated proxy card by no later than 9:00 AM EST, on December 17, 2025 to ensure your representation at the AGM. If you hold Ordinary Shares indirectly, please contact your brokerage firm, bank or other financial institution for the relevant voting deadline.

The AGM will also transact any other business properly brought before the meeting.

**<u>Exhibit A</u>**

Second Amended and Restated Memorandum and Articles of Association

**THE COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**SECOND Amended and REstated**

**Memorandum and Articles OF association**

**of**

**Lanvin Group Holdings Limited**

**复朗集团**

**(Adopted by Special Resolution Dated [ ] 2025 and effective on [ ] 2025)**

**THE COMPANIES ACT (AS AMENDED)**

**COMPANY LIMITED BY SHARES**

**SECOND Amended and Restated**

**MEMORANDUM of ASSOCIATION**

**OF**

**Lanvin Group Holdings Limited**

**复朗集团**

**(Adopted by Special Resolution Dated [ ] 2025 and effective on [ ] 2025)**

1. The
 name of the company is Lanvin Group Holdings Limited 复朗集团 (the
 "**Company** ").

2. The registered
 office of the Company will be situated at the offices of Maples Corporate Services Limited,
 PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands or at such other location
 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 any law as provided by
 Section 7(4) of the Companies Act (as amended) of the Cayman Islands (the "**Companies Act** ").

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 Section 27(2) of
 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 the shareholders of the Company is limited to the amount, if any, unpaid on the shares
 respectively held by them.

7. The
 authorised share capital of the Company is **US$50,000** for **50,000,000,000** ordinary
 shares with a nominal or par value of **US$0.000001**, provided always that subject to
 the Companies Act and the Articles of Association the Company shall have power to redeem
 or purchase any of its shares 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 may
 exercise the power contained in Section 206 of the Companies Act to deregister in the
 Cayman Islands and be registered by way of continuation in some other jurisdiction.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **CLAUSE** | **PAGE** |

---

---

| | |
|:---|:---|
| TABLE A | 1 |
| Interpretation | 1 |
| Preliminary | 5 |
| Shares | 6 |
| Modification Of Rights | 8 |
| Certificates | 9 |
| Fractional Shares | 10 |
| Lien | 10 |
| Calls On Shares | 11 |
| Forfeiture Of Shares | 11 |
| Transfer Of Shares | 12 |
| Transmission Of Shares | 13 |
| REGISTRATION OF EMPOWERING INSTRUMENTS | 13 |
| Alteration Of SHARE Capital | 14 |
| Redemption, Purchase and Surrender Of Shares | 14 |
| Treasury Shares | 15 |
| General Meetings | 16 |
| Notice Of General Meetings | 16 |
| Proceedings At General Meetings | 17 |
| Votes Of shareholders | 18 |

---

i

---

| | |
|:---|:---|
| Corporations Acting By Representatives At Meetings | 19.0 |
| DEPOSITARY AND CLEARING HOUSES | 19.0 |
| Directors | 20.0 |
| Alternate Director | 21.0 |
| Powers And Duties Of Directors | 21.0 |
| Borrowing Powers Of Directors | 23.0 |
| The Seal | 23.0 |
| Disqualification Of Directors | 24.0 |
| Proceedings Of Directors | 24.0 |
| PRESUMPTION OF ASSENT | 26.0 |
| Dividends | 26.0 |
| Accounts, Audit and annual return and declaration | 27.0 |
| Capitalisation Of reserves | 28.0 |
| Share Premium Account | 29.0 |
| Notices | 30.0 |
| INFORMATION | 31.0 |
| Indemnity | 31.0 |
| Non-Recognition Of Trusts | 32.0 |
| Winding Up | 32.0 |
| Amendment Of Articles Of Association | 33.0 |
| Closing of register or fixing record date | 33.0 |
| Registration By Way Of Continuation | 33.0 |
| Mergers and Consolidation | 34.0 |
| disclosure | 34.0 |

---

ii

**THE COMPANIES ACT (AS AMENDED)**

**Company Limited by Shares**

**Amended and Restated**

**ARTICLES OF ASSOCIATION**

**OF**

**Lanvin Group Holdings Limited**

**复朗集团**

**(Adopted by Special Resolution Dated [ ] 2025 and effective on [ ] 2025)**

**TABLE A**

The Regulations contained or incorporated in Table 'A' in the First Schedule of the Companies Act shall not apply to Lanvin Group Holdings Limited 复朗集团 (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**" of any particular person means any other person controlling, controlled by or under common control with such person, where "control" mean the possession, directly or indirectly, of the power to direct the management and policies of a person whether through the ownership of voting securities, its capacity as a sole or managing member or otherwise.

"**Articles**" means these articles of association of the Company, as amended or substituted from time to time.

"**Board**" means the board of Directors of the Company from time to time.

"**Branch Register**" means any branch Register of such category or categories of Members as the Company may from time to time determine.

"**Business Combination Closing**" means the closing of the business combination pursuant to the Business Combination Agreement, dated March 23, 2022, by and among the Company and certain other parties thereto, as may be amended, supplemented or otherwise modified from time to time.

"**Class**" or "**Classes**" means any class or classes of Shares as may from time to time be issued by the Company.

"**Companies Act**" means the Companies Act (as amended) of the Cayman Islands.

"**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 with the Commission, or which has otherwise been notified to Shareholders.

"**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.

"**Communication Facilities**" means video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or any other video-communications, internet or online conferencing application or telecommunications facilities by means of which all Persons participating in a meeting are capable of hearing and being heard by each other.

"**Designated Stock Exchange**" means any national securities exchange or automated quotation system on which the Company's securities are traded, including but not limited to the New York Stock Exchange.

"**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.

"**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.

"**Investor Rights Agreement**" means that certain Investor Rights Agreement, dated March 23, 2022, by and among the Company, Primavera Capital Acquisition Corporation, a Cayman Islands exempted company limited by shares, Fosun Fashion Group (Cayman) Limited, a Cayman Islands exempted company limited by shares, the Sponsor and certain other parties thereto (as may be amended, supplemented, modified or varied from time to time).

"**Memorandum of Association**" means the memorandum of association of the Company, as amended or substituted from time to time.

"**Nominating Committee**" has the meaning given in Article 102.

"**Office**" means the registered office of the Company as required by the Companies Act.

"**Officers**" means the officers for the time being and from time to time of the Company.

"**Ordinary Resolution**" means a resolution passed by a simple majority of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the Company and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled.

"**Ordinary Shares**" means the ordinary shares with a nominal or par value of US$0.000001 each in the capital of the Company, having the rights, privileges, conditions and restrictions set out in 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, other than in respect of a Director or Officer in which circumstances Person shall mean any person or entity permitted to act as such in accordance with the laws of the Cayman Islands.

"**Present**" means in respect of any Person, such Person's presence at a general meeting of Shareholders (or any meeting of the holders of any Class of Shares), which may be satisfied by means of such Person or, if a corporation or other non-natural Person, its duly authorized representative (or, in the case of any Shareholder, a proxy which has been validly appointed by such Shareholder in accordance with these Articles), being: (a) physically present at the meeting; or (b) in the case of any meeting at which Communication Facilities are permitted in accordance with these Articles, including any Virtual Meeting, connected by means of the use of such Communication Facilities.

"**Principal Register**", where the Company has established one or more Branch Registers pursuant to the Companies Act and these Articles, means the Register maintained by the Company pursuant to the Companies Act and these Articles that is not designated by the Directors as a Branch Register.

"**Register**" means the register of Members of the Company required to be kept pursuant to the Companies Act and includes any Branch Register(s) established by the Company in accordance with 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. 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 Shares in the Register and includes each subscriber to the Memorandum of Association pending entry in the Register of such subscriber.

"**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.

"**Special Resolution**" means a special resolution of the Company passed in accordance with the Companies Act, being a resolution passed by a majority of not less than two-thirds of such Shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy 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 and where a poll is taken regard shall be had in computing a majority to the number of votes to which each Shareholder is entitled.

"**Sponsor**" means Primavera Capital Acquisition LLC, a Cayman Islands limited liability company.

"**Treasury Shares**" means Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the Company and not cancelled.

"**Virtual Meeting**" means any general meeting of the Shareholders (or any meeting of the holders of any Class of Shares) at which the Shareholders (and any other permitted participants of such meeting, including without limitation the chairman of the meeting and any Directors) are permitted to attend and participate solely by means of Communication Facilities.

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 USD (or $) 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
 Transactions 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
 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 commenced at any time after incorporation.

5. The 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 amortised 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.
 In the absence of any such determination, the Register shall be kept at the Office. The Directors
 may keep, or cause to be kept, one or more Branch Registers as well as the Principal Register
 in accordance with the Companies Act, provided always that a duplicate of such Branch Register(s) shall
 be maintained with the Principal Register in accordance with the Companies Act. Title to
 Shares may be evidenced and transferred in accordance with the laws applicable to and the
 rules and regulations of the Designated Stock Exchange.

**Shares**

8. Subject to these
 Articles, all Shares for the time being unissued shall be under the control of the Directors
 who may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue, allot
 and dispose of the same 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 such Shares and issue warrants 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,
 or the Shareholders by Ordinary Resolution, may authorise the division of Shares into any
 number of Classes and sub-classes and the different Classes and sub-classes shall be authorised,
 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 the Shareholders by Ordinary Resolution.
 The Directors may issue 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. Notwithstanding Article 13, the Directors may issue from time to
 time, out of the authorised share capital of the Company (other than the authorised but unissued
 Ordinary Shares), series of preferred shares 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 shall not issue Shares to bearer.

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

11. 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.

12. The share capital
 of the Company shall be divided into Ordinary Shares immediately upon the effectiveness of
 these Articles.

Ordinary Shares shall carry the following rights, privileges, conditions and restrictions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A holder of
 Ordinary Shares shall have the right to receive notice of, attend and vote as a Shareholder
 at any meeting of the Company. On a poll, each Ordinary Share shall be entitled to one vote
 on all matters subject to a vote of the Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In the event
 of the liquidation, winding up or dissolution of the Company, either voluntary or involuntary
 the holders of the then outstanding Ordinary Shares shall be entitled to receive, any remaining
 funds or assets of the Company legally available for distribution to shareholders, distributable
 ratably amongst the holders of the Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Any
 dividends shall be distributed *pro rata* among the holders of the Ordinary Shares.

**Modification Of Rights**

13. Whenever
the capital of the Company is divided into different Classes (and as otherwise determined by the Directors) the rights attached to any
such Class may, subject to any rights or restrictions for the time being attached to any Class only be materially adversely
varied or abrogated with the consent in writing of the holders of not less than two-thirds of the issued Shares of the relevant Class,
or with the sanction of a resolution passed at a separate meeting of the holders of the Shares of such Class by a majority of two-thirds
of the votes cast at such a meeting. 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 at least holding or representing by proxy 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 them. 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. The Directors may vary the rights attaching to any Class without the consent or approval of Shareholders provided
that the rights will not, in the determination of the Directors, be materially adversely varied or abrogated by such action.

14. The
 rights conferred upon the holders of the Shares of any Class issued with preferred or
 other rights shall not, subject to any rights or restrictions for the time being attached
 to the Shares of that Class, be deemed to be materially adversely varied or abrogated by, *inter alia*, the creation, allotment or issue of further Shares ranking *pari passu* with or subsequent to them 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 materially adversely
 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**

15. No Person shall
 be entitled to a certificate for any or all of their Shares, unless the Directors shall determine
 otherwise. 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 the 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.

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

17. 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.

18. 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.

19. 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**

20. 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**

21. 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 (whether or not fully paid)
 registered in the name of a Person indebted or under liability to the Company (whether they
 are the sole registered holder of a Share or one of two or more joint holders) for all amounts
 owing by them or their 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.

22. The Company
 may sell, in such manner as the Directors may determine, 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 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 their death or bankruptcy.

23. For giving effect
 to any such sale the Directors may authorise some Person to transfer the Shares sold to the
 purchaser thereof. The purchaser shall be registered as the holder of the Shares comprised
 in any such transfer and they shall not be bound to see to the application of the purchase
 money, nor shall their title to the Shares be affected by any irregularity or invalidity
 in the proceedings in reference to the sale.

24. 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**

25. 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 days' notice
 specifying the time or times of payment) pay to the Company at the time or times so specified
 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.

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

27. 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 eight percent
 per annum from the day appointed for the payment thereof to the time of the actual payment,
 but the Directors shall be at liberty to waive payment of that interest wholly or in part.

28. 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.

29. The Directors
 may make arrangements on 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.

30. 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 them, 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, eight 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**

31. 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 them requiring payment of so much of
 the call or instalment as is unpaid, together with any interest which may have accrued.

32. The notice shall
 name a further day (not earlier than the expiration of fourteen 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.

33. 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.

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

35. 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 them to the Company in respect of the Shares forfeited, but
 their liability shall cease if and when the Company receives payment in full of the amount
 unpaid on the Shares forfeited.

36. A statutory
 declaration in writing that the declarant is a Director, and that a Share has been duly forfeited
 on a date stated in the declaration, shall be conclusive evidence of the facts in the declaration
 as against all Persons claiming to be entitled to the Share.

37. 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 favour 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 their title to the Shares be affected by any irregularity
 or invalidity in the proceedings in reference to the disposition or sale.

38. 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**

39. Subject to these
 Articles and the rules or regulations of the Designated Stock Exchange or any relevant
 securities laws, any Shareholder may transfer all or any Shares by an instrument of transfer
 in a usual or common form or in a form prescribed by the Designated Stock Exchange or in
 any other form approved by the Directors and may be under hand or, if the transferor or transferee
 is a clearing house or its nominee(s), by hand or by machine imprinted signature or by such
 other manner of execution as the Directors may approve from time to time. The instrument
 of transfer shall 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.

40. Subject to the
 rules of any Designated Stock Exchange on which the Shares in question may be listed
 and to any rights and restrictions for the time being attached to any Share, the Directors
 shall not unreasonably decline to register any transfer of Shares and shall, upon making
 any decision to decline to register any transfer of Shares, assign an appropriate reason
 therefor. If the Directors refuse to register a transfer of any Share the Company shall,
 within two (2) months after the date on which the transfer request was lodged with the
 Company, send to the transferor and transferee notice of the refusal, including the relevant
 reason for such refusal. For the avoidance of doubt, it shall not be unreasonable for the
 Directors to decline to register any transfer of a Share if such transfer would breach or
 cause a breach of: (i) the rules of any Designated Stock Exchange on which the
 Shares may be listed; or (ii) applicable law or regulation.

41. The registration
 of transfers may be suspended at such times and for such periods as the Directors may from
 time to time determine.

42. All instruments
 of transfer that are registered shall be retained by the Company, but any instrument of transfer
 that the Directors decline to register shall (except in any case of fraud) be returned to
 the Person depositing the same.

**Transmission Of Shares**

43. The legal personal
 representative of a deceased sole holder of a Share shall be the only Person recognised 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 holder of the Share, shall be the only Person recognised by the Company as
 having any title to the Share.

44. 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 themself, 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.

45. 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 they would be entitled if they were the
 registered Shareholder, except that they 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**

46. The Company
 shall be entitled to charge a fee not exceeding one U.S. 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**

47. 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.

48. The Company
 may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 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;(b) convert
 all or any of its paid up Shares into stock and reconvert that stock into paid up Shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subdivide
 its existing Shares, or any of them into Shares of a smaller amount 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;(d) 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.

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

**Redemption, Purchase and Surrender Of Shares**

50. Subject to the
 Companies Act, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue Shares
 on terms that they are to be redeemed or are liable to be redeemed at the option of the Company
 or the Shareholder on such terms and in such manner as may be determined, before the issue
 of such Shares, by either the Board or by the Shareholders by Ordinary Resolution;

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

&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 authorised by the
 Companies Act, including out of its capital; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) accept the
 surrender for no consideration of any paid up Share (including any redeemable Share) on such
 terms and in such manner as may be determined by either the Board or by the Shareholders
 by Ordinary Resolution.

51. 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.

52. Any Share in
 respect of which notice of redemption has been given shall not be entitled to participate
 in the profits of the Company in respect of the period after the date specified as the date
 of redemption in the notice of redemption.

53. 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.

54. The Directors
 may when making payments in respect of redemption or purchase of Shares, if authorised by
 the terms of issue of the Shares being redeemed or purchased or with the agreement of the
 holder of such Shares, make such payment either in cash or in specie including, without limitation,
 interests in a special purpose vehicle holding assets of the Company or holding entitlement
 to the proceeds of assets held by the Company or in a liquidating structure.

**Treasury Shares**

55. Shares that
 the Company purchases, redeems or acquires (by way of surrender or otherwise) may, at the
 option of the Company, be cancelled immediately or held as Treasury Shares in accordance
 with the Companies Act. 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.

56. No dividend
 may be declared or paid, and no other distribution (whether in cash or otherwise) of the
 Company's assets (including any distribution of assets to members on a winding up) may be
 declared or paid in respect of a Treasury Share.

57. The Company
 shall be entered in the Register as the holder of the Treasury Shares provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company
 shall not be treated as a member for any purpose and shall not exercise any right in respect
 of the Treasury Shares, and any purported exercise of such a right shall be void;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a Treasury
 Share shall not be voted, directly or indirectly, at any meeting of the Company and shall
 not be counted in determining the total number of issued shares at any given time, whether
 for the purposes of these Articles or the Companies Act, save that an allotment of Shares
 as fully paid bonus shares in respect of a Treasury Share is permitted and Shares allotted
 as fully paid bonus shares in respect of a treasury share shall be treated as Treasury Shares.

58. Treasury Shares
 may be disposed of by the Company on such terms and conditions as determined by the Directors.

**General Meetings**

59. The Directors
 may, whenever they think fit, convene a general meeting of the Company.

60. 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 at any time prior to the time for holding such meeting or,
 if the meeting is adjourned, the time for holding such adjourned meeting. The Directors shall
 give Shareholders notice in writing of any cancellation or postponement. A postponement may
 be for a stated period of any length or indefinitely as the Directors may determine.

61. General meetings
 shall also be convened on the requisition in writing of any Shareholder or Shareholders entitled
 to attend and vote at general meetings of the Company holding at least ten percent of the
 paid up voting share capital of the Company deposited at the Office specifying the objects
 of the meeting by notice given no later than 21 days from the date of deposit of the requisition
 signed by the requisitionists, and if the Directors do not convene such meeting for a date
 not later than 21 days after the date of such deposit, the requisitionists themselves may
 convene the general meeting in the same manner, as nearly as possible, as that in which general
 meetings may be convened by the Directors, and all reasonable expenses incurred by the requisitionists
 as a result of the failure of the Directors to convene the general meeting shall be reimbursed
 to them by the Company.

62. If at any time
 there are no Directors, any two Shareholders (or if there is only one Shareholder then that
 Shareholder) entitled to vote at general meetings of the Company may convene a general meeting
 in the same manner as nearly as possible as that in which general meetings may be convened
 by the Directors.

**Notice Of General Meetings**

63. At least seven
 clear days' notice in writing counting from the date service is deemed to take place as provided
 in these Articles specifying the place, the day and the hour of the meeting and the general
 nature of the business, shall be given in the manner hereinafter provided or in such other
 manner (if any) as may be prescribed by the Board or by the Shareholders by Ordinary Resolution
 to such Persons as are, under these Articles, entitled to receive such notices from the Company,
 but with the consent of 95% of the Shareholders entitled to receive notice of some particular
 meeting and attend and vote thereat, that meeting may be convened by such shorter notice
 or without notice and in such manner as those Shareholders may think fit.

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. All business
 carried out at a general meeting shall be deemed special with the exception of sanctioning
 a dividend, the consideration of the accounts, balance sheets, any report of the Directors
 or of the Company's auditors, and the fixing of the remuneration of the Company's auditors. 
 No special business shall be transacted at any general meeting without the consent of all
 Shareholders entitled to receive notice of that meeting unless notice of such special business
 has been given in the notice convening that meeting.

66. No business
 shall be transacted at any general meeting unless a quorum of Shareholders is Present at
 the time when the meeting proceeds to business. Save as otherwise provided by these
 Articles, one or more Shareholders holding at least one-third (1/3) of the paid up voting
 share capital of the Company Present and entitled to vote at that meeting shall form a quorum.

67. If within half
 an hour from the time appointed for the meeting a quorum is not Present, the meeting, if
 convened upon the requisition of Shareholders, shall be dissolved. In any other case
 it shall stand adjourned to the same day in the next week, at the same time and place, and
 if at the adjourned meeting a quorum is not Present within half an hour from the time appointed
 for the meeting the Shareholder or Shareholders Present and entitled to vote shall form a
 quorum.

68. 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 Communication
 Facilities. Without limiting the generality of the foregoing, the Directors may determine
 that any general meeting may be held as a Virtual Meeting. The notice of any general meeting
 at which Communication Facilities will be utilized (including any Virtual Meeting) must disclose
 the Communication Facilities that will be used, including the procedures to be followed by
 any Shareholder or other participant of the meeting who wishes to utilize such Communication
 Facilities for the purposes of attending and participating in such meeting, including attending
 and casting any vote thereat.

69. The chair, if
 any, of the Directors shall preside as chair at every general meeting of the Company.

70. If there is
 no such chair, or if at any general meeting they are not Present within fifteen minutes after
 the time appointed for holding the meeting or is unwilling to act as chair, any Director
 or Person nominated by the Directors shall preside as chair, failing which the Shareholders
 Present shall choose any Person Present to be chair of that meeting.

71. The chair of
 any general meeting (including any Virtual Meeting) shall be entitled to attend and participate
 at any such general meeting by means of Communication Facilities, and to act as the chair
 of such general meeting, in which event the following provisions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The chair
 of the meeting shall be deemed to be Present at the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Communication
 Facilities are interrupted or fail for any reason to enable the chairman of the meeting to
 hear and be heard by all other Persons participating in the meeting, then the other Directors
 Present at the meeting shall choose another Director Present to act as chairman of the meeting
 for the remainder of the meeting; provided that if no other Director is Present at the meeting,
 or if all the Directors Present decline to take the chair, then the meeting shall be automatically
 adjourned to the same day in the next week and at such time and place as shall be decided
 by the Board.

72. The chair may
 adjourn a meeting from time to time and from place to place either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) with the
 consent of any general meeting at which a quorum is Present (and shall if so directed by
 the meeting); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 the consent of such meeting if, in their sole opinion, they consider it necessary to do so
 to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) secure the
 orderly conduct or proceedings of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) give all
 persons Present and having the right to speak and / or vote at such meeting, the ability
 to do so,

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 fourteen days or more, notice of the adjourned meeting shall be given in the manner provided for the 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.

73. At any general
 meeting a resolution put to the vote of the meeting shall be decided on a poll.

74. A poll shall
 be taken in such manner as the chair directs, and the result of the poll shall be deemed
 to be the resolution of the meeting.

75. 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, the chair of the meeting shall be entitled to a second or casting vote.

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

**Votes Of shareholders**

77. Subject to any
 rights and restrictions for the time being attached to any Share, on a poll every Shareholder
 and every Person representing a Shareholder by proxy shall have one vote for each Share of
 which they or the Person represented by proxy is the holder.

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

79. A Shareholder
 of unsound mind, or in respect of whom an order has been made by any court having jurisdiction
 in lunacy, may vote in respect of Shares carrying the right to vote held by them, by their
 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.

80. 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 them in respect of Shares carrying the right to vote held
 by them have been paid.

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

82. The instrument
 appointing a proxy shall be in writing under the hand of the appointor or of their attorney
 duly authorised in writing or, if the appointor is a corporation, either under Seal or under
 the hand of an Officer or attorney duly authorised. A proxy need not be a Shareholder.

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

84. The instrument
 appointing a proxy shall be deposited at the Office or at such other place as is specified
 for that purpose in the notice convening the meeting no later than the time for holding the
 meeting or, if the meeting is adjourned, the time for holding such adjourned meeting.

85. All resolutions
 of the Shareholders shall be passed at a general meeting of the Company duly convened and
 held in accordance with these Articles and resolutions of Shareholders in writing in lieu
 of a general meeting shall not be permitted.

**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 authorise 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 authorised shall be entitled to exercise the same powers
 on behalf of the corporation which they represent 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.

**Directors**

88. Subject to these
 Articles and the rules or regulations of the Designated Stock Exchange or any relevant
 securities laws, the Company may by a resolution of the Directors from time to time fix the
 maximum and minimum number of Directors to be appointed but unless such numbers are fixed
 as aforesaid the board shall consist of not less than one and there shall be no maximum number
 of Directors.

89. Subject to these
 Articles and so long as the Sponsor and its Affiliates hold in the aggregate a number of
 shares that is not less than 50% of the Shares held by them as of immediately after the Business
 Combination Closing (subject to adjustments made for share divisions, consolidations, reorganizations
 and the like after such date), the Sponsor shall be entitled to appoint one (1) individual
 to serve as a Director (such appointed Director being the "**Sponsor Director** ").
 The right of appointment conferred on the Sponsor under this Article 89 shall include
 the exclusive right of the Sponsor to remove and appoint a replacement Sponsor Director at
 any time and the exclusive right of the Sponsor at any time and from time to time to determine
 the period during which such person shall hold the office of Director. Each appointment or
 removal of a Sponsor Director pursuant to this Article 89 shall be effected by notice
 in writing and signed by or on behalf of the Sponsor and shall be delivered to the registered
 office for the time being of the Company. The Company shall take all necessary and desirable
 actions within its control to effectuate the foregoing rights of the Sponsor, including passing
 the required resolutions to update the Register of Directors of the Company and to make the
 necessary filings with the Registrar of Companies in the Cayman Islands.

90. Subject to Article 89,
 the remaining Directors of the Company shall be nominated for appointment by the Nominating
 Committee from time to time in consultation with the Sponsor and in accordance with the Nominating
 Committee's policies and procedures.

91. The Company
 may by Ordinary Resolution appoint any person nominated by the Nominating Committee to be
 a Director.

92. 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 nominated by the Nominating Committee as a Director,
 to fill a casual vacancy on the Board, or as an addition to the existing Board.

93. Subject to these
 Articles (including Article 89), a Director shall hold office until such time as they
 are removed from office by Ordinary Resolution or in accordance with these Articles.

94. The remuneration
 of the Directors may be determined by the Directors or by Ordinary Resolution.

95. There shall
 be no shareholding qualification for Directors unless determined otherwise by the Directors
 or by Ordinary Resolution.

96. An appointment
 of a Director may be on terms that the Director shall automatically retire from office (unless
 he has sooner vacated office) at the next or a subsequent annual general meeting or upon
 any specified event or after any specified period in a written agreement between the Company
 and the Director, if any; but no such term shall be implied in the absence of express provision.

97. The Directors
 shall be entitled to be paid for 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**

98. Any Director
 may in writing appoint another Person to be their 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 authorised 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. Every such alternate shall be
 entitled to attend and vote at meetings of the Directors as the alternate of the Director
 appointing them and where they are Director to have a separate vote in addition to their
 own vote. A Director may at any time in writing revoke the appointment of an alternate
 appointed by them. Such alternate shall not be an Officer solely as a result of their
 appointment as an alternate other than in respect of such times as the alternate acts as
 a Director. The remuneration of such alternate shall be payable out of the remuneration
 of the Director appointing them and the proportion thereof shall be agreed between them.

**Powers And Duties Of Directors**

99. 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.

100. The Directors
 may from time to time appoint any Person, 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, the office of 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 Person
 so appointed by the Directors may be removed by the Directors or by the Company by Ordinary
 Resolution. 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 from any cause to be a Director, or if the Directors or the
 Company by Ordinary Resolution resolves that their tenure of office be terminated.

101. The Directors
 may appoint any Person 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 or by the Company by Ordinary Resolution.

102. 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. The Board shall establish
 and maintain committees of the Board for (x) audit, (y) compensation and (z) nomination
 (the "**Nominating Committee**") and the Board may from time to time by resolution
 establish and maintain other committees of the Board. The Directors or the Shareholders by
 Ordinary Resolution may appoint any Person to be a member of such committees. The composition
 of each committee of the Board shall be in compliance with applicable Designated Stock Exchange
 independence requirements.

103. 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 authorised
 signatory (any such person being an "**Attorney**" or "**Authorised 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 Authorised Signatory as the Directors may think
 fit, and may also authorise any such Attorney or Authorised Signatory to delegate all or
 any of the powers, authorities and discretion vested in them.

104. 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.

105. 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 the Directors or the Shareholders by Ordinary
 Resolution may appoint any Person 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 Person.

106. The Directors
 from time to time and at any time may delegate to any such committee, local board, manager
 or agent any of the powers, authorities and discretions for the time being vested in the
 Directors and may authorise the members for the time being of any such local board, or any
 of them to fill 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 or the Shareholders by Ordinary Resolution may at any time remove
 any Person so appointed and may annul or vary any such delegation, but no Person dealing
 in good faith and without notice of any such annulment or variation shall be affected thereby.

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

108. The Directors
 may agree with a Shareholder to waive or modify the terms applicable to such Shareholder's
 subscription for Shares without obtaining the consent of any other Shareholder; provided
 that such waiver or modification does not amount to a variation or abrogation of the rights
 attaching to the Shares of such other Shareholders.

109. The Directors
 shall have the authority to present a winding up petition on behalf of the Company without
 the sanction of a resolution passed by the Company in general meeting.

**Borrowing Powers Of Directors**

110. The Directors
 may exercise all the powers of the Company to borrow money and to mortgage or charge its
 undertaking, property and uncalled capital or any part thereof, or to otherwise provide for
 a security interest to be taken in such undertaking, property or uncalled capital, and to
 issue debentures, debenture stock 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**

111. 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.

112. 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.

113. 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.

**Disqualification Of Directors**

114. Subject to
 Article 89, 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 their 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
 their office by notice in writing to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) is removed
 from office by Ordinary Resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) is removed
 from office by notice addressed to them at their last known address and signed by all of
 their co-Directors (not being less than two in number); or

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

**Proceedings Of Directors**

115. The Directors
 may meet together (either within or outside 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. In case of an equality
 of votes the chair 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.

116. 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.

117. The quorum
 necessary for the transaction of the business of the Directors may be fixed by the Directors,
 and unless so fixed, if there be two or more Directors the quorum shall be two, and if there
 be one Director the quorum shall be one. A Director represented 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.

118. A Director
 who is in any way, whether directly or indirectly, interested in a contract or proposed contract
 with the Company shall declare the nature of their interest at a meeting of the Directors. 
 A general notice given to the Directors by any Director to the effect that they are to be
 regarded as interested in any contract or other arrangement 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. Subject to the rules of any Designated Stock Exchange
 on which the Shares may be listed and disqualification by the chair of the relevant Board
 meeting, a Director may vote in respect of any contract or proposed contract or arrangement
 notwithstanding that they may be interested therein and if they do so their vote shall be
 counted and they 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.

119. A Director
 may hold any other office or place of profit under the Company (other than the office of
 auditor) in conjunction with their 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 their office from contracting with the Company either with
 regard to their 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 realised by any such contract or arrangement by reason of such Director holding
 that office or of the fiduciary relation thereby established. A Director, notwithstanding
 their interest, may be counted in the quorum present at any meeting of the Directors whereat
 such Director 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 they may
 vote on any such appointment or arrangement.

120. Any Director
 may act by themselves or their firm in a professional capacity for the Company, and they
 or their firm shall be entitled to remuneration for professional services as if they were
 not a Director; provided that nothing herein contained shall authorise a Director or their
 firm to act as auditor to the Company.

121. The Directors
 shall cause minutes to be made in books or loose-leaf folders provided 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.

122. When the chair
 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.

123. 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 their 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 their duly
 appointed alternate.

124. 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.

125. The Directors
 may elect a chair of their meetings and determine the period for which they are to hold office
 but if no such chair is elected, or if at any meeting the chair is not present within fifteen
 minutes after the time appointed for holding the meeting, the Directors present may choose
 one of their number to be chair of the meeting.

126. Subject to
 any regulations imposed on it by the Directors, a committee appointed by the Directors may
 elect a chair of its meetings. If no such chair is elected, or if at any meeting the
 chair 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 chair of the meeting.

127. 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 chair shall have a second or casting vote.

128. 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**

129. A Director
 who is present at a meeting of the Board 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**

130. Subject to
 any rights and restrictions for the time being attached to any Shares, or as otherwise provided
 for in the Companies Act and these Articles, the Directors may from time to time declare
 dividends (including interim dividends) and other distributions on Shares in issue and authorise
 payment of the same out of the funds of the Company lawfully available therefor.

131. 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.

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

133. Any dividend
 may be paid in any manner as the Directors or the Shareholders by Ordinary Resolution may
 determine. If paid by cheque it will be sent through the post to the registered address
 of the Shareholder or Person entitled thereto, or in the case of joint holders, to any one
 of such joint holders at their registered address or to such Person and such address as the
 Shareholder or Person entitled, or such joint holders as the case may be, may direct. 
 Every such cheque shall be made payable to the order of the Person to whom it is sent or
 to the order of such other Person as the Shareholder or Person entitled, or such joint holders
 as the case may be, may direct.

134. The Directors
 when paying dividends to the Shareholders in accordance with the foregoing provisions of
 these Articles may make such payment either in cash or in specie and may determine the extent
 to which amounts may be withheld therefrom (including, without limitation, any taxes, fees,
 expenses or other liabilities for which a Shareholder (or the Company, as a result of any
 action or inaction of the Shareholder) is liable).

135. 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.

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

137. No dividend
 shall bear interest against the Company.

138. Any dividend
 unclaimed after a period of six (6) 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**

139. 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.

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

141. 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 of inspecting any account or book or document of the
 Company except as conferred by law or authorised by the Directors or by Ordinary Resolution.

142. Subject to
 the requirements of applicable law and the listing rules of the Designated Stock Exchange,
 the accounts relating to the Company's affairs shall only be audited if the Directors so
 determine, in which case the accounting principles will be determined by the Directors. The
 financial year of the Company shall end on 31 December of each year or such other date
 as the Directors may determine.

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

144. 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.

145. 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.

146. The Directors
 in each 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**

147. Subject to
 the Companies Act and these Articles, the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve
 to capitalise an amount standing to the credit of reserves (including a Share Premium Account,
 capital redemption reserve and profit and loss account), whether or not available for distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) appropriate
 the sum resolved to be capitalised 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 capitalised
 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) authorise
 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 capitalisation, 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 capitalised) 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 any of the actions contemplated by this
 Article.

**Share Premium Account**

148. 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.

149. 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 determination 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**

150. 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 airmail or air courier service in a prepaid
 letter addressed to such Shareholder at their 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.

151. 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.

152. 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 clear 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) recognised
 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; or

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

153. Any notice
 or document delivered or sent 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 their 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 their 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 them) in the Share.

154. 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
 their 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**

155. Subject to
 the relevant laws, rules and regulations applicable to the Company, no Shareholder 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 Shareholders to communicate to the public.

156. Subject to
 due compliance with the relevant laws, rules and regulations applicable to the Company,
 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 Shareholders including, without
 limitation, information contained in the Register and transfer books of the Company.

**Indemnity**

157. 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
 (but not including the Company's auditors) and the personal representatives of the same (each
 an "**Indemnified Person**") shall be indemnified and secured harmless out of
 the assets and funds of the Company 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, wilful default or fraud as determined
 by a court of competent jurisdiction, 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 their 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.

158. 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, wilful default or fraud as determined by a court of competent jurisdiction.

**Non-Recognition Of Trusts**

159. Subject to
 the proviso hereto, no Person shall be recognised 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 recognise (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, provided that,
 notwithstanding the foregoing, the Company shall be entitled to recognise any such interests
 as shall be determined by the Directors.

**Winding Up**

160. If the Company
 shall be wound up the liquidator shall apply the assets of the Company in such manner and
 order as they think fit in satisfaction of creditors' claims.

161. If the Company
 shall be wound up, the liquidator may, with the sanction of an Ordinary Resolution divide
 amongst the Shareholders in specie or kind the whole or any part of the assets of the Company
 (whether they shall consist of property of the same kind or not) and may, for such purpose
 set such value as they deem fair upon any property to be divided as aforesaid and may determine
 how such division shall be carried out as between the Shareholders or different Classes. 
 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 Shareholders as the liquidator, with the
 like sanction shall think fit, but so that no Shareholder shall be compelled to accept any
 assets whereon there is any liability.

162. If the Company
 shall be wound up, and 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. If in a winding up 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. This Article is without
 prejudice to the rights of the holders of Shares issued upon special terms and conditions.

**Amendment Of Articles Of Association**

163. Subject to
 the Companies Act and the rights attaching to the various Classes, 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**

164. 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 40 days. 
 If the Register shall be so closed for the purpose of determining those Shareholders that
 are entitled to receive notice of, attend or vote at a meeting of Shareholders the Register
 shall be so closed for at least ten days immediately preceding such meeting and the record
 date for such determination shall be the date of the closure of the Register.

165. 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 90 days prior to the date of declaration of such dividend, fix a subsequent date as
 the record date for such determination.

166. 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**

167. 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 Consolidation**

168. The Company
 may merge or consolidate in accordance with the Companies Act.

169. To the extent
 required by the Companies Act, the Company may by Special Resolution resolve to merge or
 consolidate the Company.

**disclosure**

170. The Directors,
 or any authorised service providers (including the Officers, the Secretary and the registered
 office agent of the Company), shall be entitled to disclose to any regulatory or judicial
 authority, or to any stock exchange on which the Shares may from time to time be listed,
 any information regarding the affairs of the Company including, without limitation, information
 contained in the Register and books of the Company.

**EXCLUSIVE FORUM**

171. Unless the
 Company consents in writing to the selection of an alternative forum, to the fullest extent
 permitted by relevant law, the federal district courts of the United States shall be the
 exclusive forum for the resolution of any complaint asserting a cause of action arising under
 the federal securities laws of the United States and the rules and regulations relating
 thereto, regardless of whether such legal suit, action, or proceeding also involves parties
 other than the Company.

172. Unless the
 Company consents in writing to the selection of an alternative forum, the courts of the Cayman
 Islands shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy
 or claim (including any non-contractual dispute, controversy or claim) whether arising out
 of or in connection with these Articles or otherwise, including any questions regarding their
 existence, validity, formation or termination. For the avoidance of doubt and without limiting
 the jurisdiction of the courts of the Cayman Islands to hear, settle and/or determine disputes
 related to the Company, the courts of the Cayman Islands shall be the sole and exclusive
 forum for (i) any derivative action or proceeding brought on behalf of the Company,
 (ii) any action asserting a claim of breach of a fiduciary duty owed by any Director,
 officer or other employee of the Company to the Company or the Company's Shareholders,
 (iii) any action or petition asserting a claim arising pursuant to any provision of
 the Companies Act or these Articles including but not limited to any purchase or acquisition
 of Shares, securities or guarantee provided in consideration thereof, or (iv) any action
 asserting a claim against the Company concerning its internal affairs. This Article shall

 the federal securities laws of the United States and the rules and regulations relating
 thereto, or any other claim based on securities laws for which claim the federal district
 courts of the United States have exclusive jurisdiction.

173. Any person
 or entity purchasing or otherwise acquiring any Share or other securities in the Company,
 or purchasing or otherwise acquiring depositary shares representing the Company's shares
 issued pursuant to relevant deposit agreements, whether such acquisition be by transfer,
 sale, operation of law or otherwise, shall be deemed to have notice of, irrevocably agreed
 and consented to the provisions of this Article and Articles 171 and 172 above. Without
 prejudice to the foregoing, if any part of this Article, Articles 171 or 172 are held to
 be illegal, invalid or unenforceable under applicable law, the legality, validity or enforceability
 of the rest of these Articles shall not be affected nor be impaired and this Article, Articles
 171 and/or 172 shall be interpreted and construed to the maximum extent possible to apply
 in the relevant jurisdiction with whatever modification or deletion as may be necessary so
 as best to give effect to the intention of the Company.

## Exhibit 99.3

**Exhibit 99.3**

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| &nbsp;&nbsp;![GRAPHIC](tm2531733d1_ex99-3img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature [PLEASE SIGN WITHIN BOX] Date Signature (Joint Owners) Date TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: KEEP THIS PORTION FOR YOUR RECORDS DETACH AND RETURN THIS PORTION ONLY THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. V81463-P40878 1. To approve the amendment and restatement of the Amended and Restated Memorandum and Articles of Association of the Company in their entirety and to adopt the Second Amended and Restated Memorandum and Articles of Association annexed to the Notice of AGM, including (a) removal of Convertible Preference Shares and related provisions; (b) removal of Non-voting Ordinary Shares and related provisions; and (c) removal of the Board Observer position and related provisions. For Against Abstain ! ! ! LANVIN GROUP HOLDINGS LIMITED The Board of Directors recommends you vote FOR the following proposal: LANVIN GROUP HOLDINGS LIMITED 5515 E. LA PALMA AVENUE ANAHEIM, CALIFORNIA 92807 NOTE: Such other business as may properly come before the meeting or any adjournment thereof. Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer. VOTE BY INTERNET Before The Meeting - Go to www.proxyvote.com or scan the QR Barcode above Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. During The Meeting - Go to www.virtualshareholdermeeting.com/LANV2025 You may attend the meeting via the Internet and vote during the meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. SCAN TO VIEW MATERIALS & VOTEw |

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| &nbsp;&nbsp;![GRAPHIC](tm2531733d1_ex99-3img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Notice and Proxy Statement is available at www.proxyvote.com. V81464-P40878 LANVIN GROUP HOLDINGS LIMITED Annual Meeting of Shareholders December 18, 2025 9:00 a.m. THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS or either of them, as proxies, each with the power to appoint (his/her) substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of (Common/Preferred) Stock of LANVIN GROUP HOLDINGS LIMITED that the shareholder(s) is/are entitled to vote at the Annual Meeting of Shareholders to be held at 9:00 a.m., on December 18, 2025, virtually at www.virtualshareholdermeeting.com/LANV2025, and any adjournment or postponement thereof. This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors' recommendations. CONTINUED AND TO BE SIGNED ON REVERSE SIDE |

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