# EDGAR Filing Document

**Accession Number:** 0001941506
**File Stem:** 0001731122-26-000215
**Filing Date:** 2026-2
**Character Count:** 207080
**Document Hash:** d30cc7aefa013ad9575e201bfffeb497
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-26-000215.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001731122-26-000215

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 7

**CONFORMED PERIOD OF REPORT**: 20260211

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZJK Industrial Co., Ltd.
- **CENTRAL INDEX KEY:** 0001941506
- **STANDARD INDUSTRIAL CLASSIFICATION:** BOLTS, NUTS, SCREWS, RIVETS & WASHERS [3452]
- **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:** 001-42286
- **FILM NUMBER:** 26622728

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO.8 JINGQIANG RD, 138 INDUSTRIAL ZONE
- **STREET 2:** XIUXIN CMTY, KENZI OFC, PS NEW DIST.
- **CITY:** SHENZHEN
- **NON US STATE TERRITORY:** CHINA
- **PROVINCE COUNTRY:** F4
- **ZIP:** 518122
- **BUSINESS PHONE:** 8613682653192

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO.8 JINGQIANG RD, 138 INDUSTRIAL ZONE
- **STREET 2:** XIUXIN CMTY, KENZI OFC, PS NEW DIST.
- **CITY:** SHENZHEN
- **NON US STATE TERRITORY:** CHINA
- **PROVINCE COUNTRY:** F4
- **ZIP:** 518122

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

**FORM 6-K**

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

**For the month of February 2026**

**Commission File Number: 001-42286**

**ZJK Industrial Co., Ltd.**

**No.8, Jingqiang Road, 138 Industrial Zone, Xiuxin Community, Kengzi Town, Pingshan New Area, Shenzhen**

**People's Republic of China, 518122**

**+86-0755-28341175<br> (Address of principal executive office)**

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

Form 20-F ☒ Form 40-F ☐

**EXPLANATORY NOTE**

In connection with the 2026 Extraordinary General Meeting of Shareholders of ZJK Industrial Co., Ltd., a company incorporated under the laws of the Cayman Islands (the "Company"), the Company hereby furnishes the following documents:

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Notice of Extraordinary General Meeting, dated February 11 2026, to be mailed to shareholders of the Company in connection with the 2026 Extraordinary General Meeting of Shareholders of the Company](e7314_ex99-1.htm) |
| 99.2 | [Proxy Card to be mailed to shareholders of the Company for use in connection with the 2026 Extraordinary General Meeting of Shareholders of the Company](e7314_ex99-2.htm) |

---

**SIGNATURE**

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

---

| | | |
|:---|:---|:---|
| Date: February 11, 2026 |  |  |
|  | ZJK Industrial Co., Ltd. | ZJK Industrial Co., Ltd. |
|  | By: | /s/ Ning Ding |
|  | Name: | Ning Ding |
|  | Title: | Chief Executive Officer, Chairman of the Board and Director |

---

## Exhibit 99.1

**Exhibit 99.1**

**ZJK Industrial Co., Ltd.**

(incorporated under the laws of the Cayman Islands)

(NASDAQ: ZJK)

**NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS**

**NOTICE IS HEREBY GIVEN THAT** an extraordinary general meeting of shareholders (the "**EGM**") of ZJK Industrial Co., Ltd. (the "**Company**") will be held on March 6, at 10:00 a.m., Beijing Time. The EGM will be at Room 205, Building A, No.8, Jingqiang Road, 138 Industrial Zone, Xiuxin Community, Kengzi Town, Pingshan District, Shenzhen, Guangdong, China.

The purpose of the EGM is for the shareholders of the Company (the "**Shareholders**") to consider and, if thought fit, pass the following resolutions:

&nbsp;&nbsp;&nbsp;&nbsp;1. It is resolved, as a special resolution, that subject to the A&R M&A Proposal (as defined below)
being approved and with effect upon approval by the Nasdaq Stock Market LLC (the "**Effective Time** "), the Company re-designate
and re-classify its authorized and issued share capital from ordinary shares of par value US$0.000016666667 each (the "**Ordinary Shares**") into Class A ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class A Ordinary Shares**") and Class B ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class B Ordinary Shares** ", and together with the Class A Ordinary Shares, the "**New Share Classes**") as follows (the
" **Share Capital Reorganization** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each issued and outstanding Ordinary Share at the Effective Time , which
is expected to be 64,322,249 Ordinary Shares, be re-designated and re-classified as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 6,000,000 Ordinary Shares held by DNR Technology Co., Ltd. be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1,800,000 Ordinary Shares held by Vimisci Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 450,000 Ordinary Shares held by Newmicro Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 450,000 Ordinary Shares held by Jinshan International Investment Co.,
Ltd. be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 300,000 Ordinary Shares held by KKD Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the balance of the issued and outstanding Ordinary Shares, which is
expected to be 55,322,249 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis into Class A Ordinary Shares,

**(together, the "Re-Designations"); and**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each of the remaining authorized but unissued Ordinary Shares at the
Effective Time, which is expected to be 2,935,677,751 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis, into
Class A Ordinary Shares,

such that the Company's authorised share capital shall be amended:

*from* US$50,000 divided into 3,000,000,000 ordinary shares of a par value of US$0.000016666667 each

*to* US$50,000 divided into 2,991,000,000 Class A ordinary shares of par value US$0.000016666667 each and 9,000,000 Class B ordinary shares of par value US$0.000016666667 each

(the "**Share Capital Reorganization Proposal**"),

it being noted that the terms of, and rights attached to the New Share Classes will be materially identical to the existing Ordinary Shares save that: (i) holders of Class B Ordinary Shares will be entitled to cast 30 votes for each Class B Ordinary Share held on all matters decided by way of pollat a general meeting; and (ii) the Class B Ordinary Shares will be convertible into Class A Ordinary Shares at the option of the holder thereof on a one-for-one basis.

&nbsp;&nbsp;&nbsp;&nbsp;2. It is resolved, as a special resolution, that subject to the approval of and immediately following the
effectiveness of the Share Capital Reorganisation, the Company adopt amended and restated memorandum and articles of association (the
" **A&R M&A** "), in substantially the form set out in <u>Exhibit A</u> to the Company's proxy statement, in
substitution for, and to the exclusion of, the Company's existing amended and restated memorandum and articles of association.

&nbsp;&nbsp;&nbsp;&nbsp;3. It is resolved, as an ordinary resolution, to adjourn the meeting to a later date or dates or sine die,
if necessary, to permit further solicitation and vote of proxies if, at the time of the meeting, there are not sufficient votes for, or
otherwise in connection with, the approval of the foregoing proposals.

The foregoing items of business are described in the proxy statement accompanying this notice. The board of directors of the Company (the "**Board of Directors**") unanimously recommends that the Shareholders vote "FOR" for each item.

The Board of Directors has fixed the close of business on February 6, 2026 as the record date (the "**Record Date**") for determining the Shareholders entitled to receive notice of, attend and vote at the EGM. Only holders of Ordinary Shares on the Record Date are entitled to receive notice of, attend and vote at the EGM.

Shareholders may obtain a copy of the proxy materials from the Company's website at www.zjk-industrial.com. The notice of the EGM, the proxy statement, and the proxy card will be sent or made available to shareholders on or about February 11, 2026.

---

| |
|:---|
| By Order of the Board of Directors, |
| */s/ Ning Ding* |
| Ning Ding<br> Chairman of the Board of Directors<br>Shenzhen, China<br>February 11, 2026. |

---

**ZJK INDUSTRIAL CO., LTD.**

**EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS<br> March 6, 2026<br> 10:00 a.m., Beijing Time**

**PROXY STATEMENT**

The board of directors (the "**Board of Directors**") of ZJK Industrial Co., Ltd. (the "**Company**") is soliciting proxies for the extraordinary general meeting of shareholders of the Company to be held on March 6, 2026, at 10:00 a.m., Beijing Time (the "**EGM**"). The EGM will be held at Room 205, Building A, No.8, Jingqiang Road, 138 Industrial Zone, Xiuxin Community, Kengzi Town, Pingshan District, Shenzhen, Guangdong, China.

Registered shareholders and duly appointed proxyholders will be able to attend, participate and vote at the EGM in real time. Beneficial shareholders who hold their shares through a broker, investment dealer, bank, trust corporation, custodian, nominee or other intermediary who have not duly appointed themselves as proxyholder will be able to attend as guests and may view the webcast, but will not be able to participate in or vote at the EGM.

Only holders of the ordinary shares of par value US$0.000016666667 each of the Company (the "**Ordinary Shares**") of record at the close of business on February 6, 2026 (the "**Record Date**") are entitled to receive notice of, attend and vote at the EGM. The shareholders entitled to vote and present in person or by proxy or (in the case of a shareholder being a corporate entity) by its duly authorised representative representing not less than a majority of the outstanding ordinary shares carrying the right to vote at the EGM will form a quorum.

Any shareholder entitled to receive notice of, attend and vote at the EGM is entitled to appoint a proxy to attend and vote on such shareholder's behalf. A proxy need not be a shareholder of the Company. Each holder of the Company's Ordinary Shares will be entitled to one vote in respect of each Ordinary Share held by such holder on the Record Date.

**PROPOSALS TO BE VOTED ON**

At the EGM, resolutions will be proposed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. It is resolved, as a special resolution, that subject to the A&R M&A Proposal (as defined below)
being approved and with effect upon approval by the Nasdaq Stock Market LLC (the "**Effective Time** "), the Company re-designate
and re-classify its authorized and issued share capital from ordinary shares of par value US$0.000016666667 each (the "**Ordinary Shares**") into Class A ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class A Ordinary Shares**") and Class B ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class B Ordinary Shares** ", and together with the Class A Ordinary Shares, the "**New Share Classes**") as follows (the
" **Share Capital Reorganization** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) each issued and outstanding Ordinary Share at the Effective Time, which
is expected to be 64,322,249 Ordinary Shares, be re-designated and re-classified as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 6,000,000 Ordinary Shares held by DNR Technology Co., Ltd. be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 1,800,000 Ordinary Shares held by Vimisci Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 450,000 Ordinary Shares held by Newmicro Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) 450,000 Ordinary Shares held by Jinshan International Investment Co.,
Ltd. be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) 300,000 Ordinary Shares held by KKD Holding Limited be re-designated
and re-classified, on a one-for-one basis, into Class B Ordinary Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the balance of the issued and outstanding Ordinary Shares, which is
expected to be 55,322,249 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis into Class A Ordinary Shares,

**(together, the "Re-Designations"); and**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each of the remaining authorized but unissued Ordinary Shares at the
Effective Time, which is expected to be 2,935,677,751 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis, into
Class A Ordinary Shares,

such that the Company's authorised share capital shall be amended:

*from* US$50,000 divided into 3,000,000,000 ordinary shares of a par value of US$0.000016666667 each

*to* US$50,000 divided into 2,991,000,000 Class A ordinary shares of par value US$0.000016666667 each and 9,000,000 Class B ordinary shares of par value US$0.000016666667 each

(the "**Share Capital Reorganization Proposal**"),

it being noted that the terms of, and rights attached to the New Share Classes will be materially identical to the existing Ordinary Shares save that: (i) holders of Class B Ordinary Shares will be entitled to cast 30 votes for each Class B Ordinary Share held on all matters decided by way of poll at a general meeting; and (ii) the Class B Ordinary Shares will be convertible into Class A Ordinary Shares at the option of the holder thereof on a one-for-one basis.

&nbsp;&nbsp;&nbsp;&nbsp;2. It is resolved, as a special resolution, that subject to the approval of and immediately following the
effectiveness of the Share Capital Reorganisation, the Company adopt amended and restated memorandum and articles of association (the
" **A&R M&A** "), in substantially the form set out in <u>Exhibit A</u> to the Company's proxy statement, in
substitution for, and to the exclusion of, the Company's existing amended and restated memorandum and articles of association.

&nbsp;&nbsp;&nbsp;&nbsp;3. It is resolved, as an ordinary resolution, to adjourn the meeting to a later date or dates or sine die,
if necessary, to permit further solicitation and vote of proxies if, at the time of the meeting, there are not sufficient votes for, or
otherwise in connection with, the approval of the foregoing proposals.

**The Board of Directors recommends a vote "FOR" each of the Proposals No. 1-4.**

**VOTING PROCEDURE FOR HOLDERS OF ORDINARY SHARES**

Shareholders entitled to vote at the EGM may do so either in person or by proxy. Those shareholders who are unable to attend the EGM are requested to read, complete, sign, date, and return the attached proxy card in accordance with the instructions set out therein.

**ANNUAL REPORT TO SHAREHOLDERS**

Pursuant to the Marketplace Rules of Nasdaq Stock Market, which permit companies to make available their annual reports to shareholders on or through the Company's website, the Company posts its annual reports on the Company's website. The annual report for the fiscal year ended December 31, 2024 on Form 20-F (the "**2024 Annual Report**") has been filed with the U.S. Securities and Exchange Commission. The Company adopted this practice to avoid the considerable expense associated with mailing physical copies of such report to record holders. You may obtain a copy of the Company's 2024 Annual Report to shareholders by visiting the Company's website at https://ir.zjk-industrial.com/. If you want to receive a paper or email copy of the Company's 2024 Annual Report to shareholders, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy to the Investor Relations of the Company.

**PROPOSAL NO. 1**

**SHARE CAPITAL REORGANIZATION** 

It is noted that, in anticipation of potential future financing transactions, employee incentive plans and other equity issuances that may be undertaken by the Company from time to time, it is desirable to ensure that the controlling shareholder of the Company will be able to have long-term control and effective oversight over the Company.

It is further noted that the terms of, and rights attached to the New Share Classes will be materially identical to the existing Ordinary Shares save that: (i) holders of Class B Ordinary Shares will be entitled to cast 30 votes for each Class B Ordinary Share held on all matters decided by way of poll at a general meeting; and (ii) the Class B Ordinary Shares will be convertible into Class A Ordinary Shares at the option of the holder thereof on a one-for-one basis.

It is further noted that, as of the Record Date, DNR Technology Co., Ltd., which is beneficially owned by Ning Ding, our chief executive officer, chief financial officer and chairman of the Board of Directors, Vimisci Holding Limited, which is beneficially owned by Kai Huang, a director and former chief financial officer of the Company, Jinshan International Investment Co., Ltd., which is beneficially owned by Huiming Liu, Newmicro Holding Limited, which is beneficially owned by Chaoyong Xu, and KKD Holding Limited, holds 38,050,188, 9,624,000, 2,750,500, 2,751,000 and 1,498,188 Ordinary Shares, respectively, representing 59.16%, 14.96%, 4.28%, 4.28% and 2.33% of total voting power, respectively. Subject to and immediately following the Share Capital Reorganization, (i) DNR Technology Co., Ltd. will hold 38,050,188 Class A Ordinary Shares and 6,000,000 Class B Ordinary Shares, representing 65.18% of total voting power; (ii) Vimisci Holding Limited, will hold 7,824,000 Class A Ordinary Shares and 1,800,000 Class B Ordinary Shares, representing 19.00% of total voting power; (iii) Jinshan International Investment Co., Ltd. will hold 2,300,500 Class A Ordinary Shares and 450,000 Class B Ordinary Shares, representing 4.86% of total voting power; (iv) Newmicro Holding Limited, will hold 2,301,000 Class A Ordinary Shares and 450,000 Class B Ordinary Shares, representing 4.86% of total voting power, and (v) KKD Holding Limited, will hold 1,198,188 Class A Ordinary Shares and 300,000 Class B Ordinary Shares, representing 3.13% of total voting power. Due to re-designation and re-classification of certain Ordinary Shares as Class B Ordinary Shares pursuant to the Share Capital Reorganization and increase of voting power, interests of DNR Technology Co., Ltd., Vimisci Holding Limited, Jinshan International Investment Co., Ltd., Newmicro Holding Limited and KKD Holding Limited are different from other shareholders of the Company in this Proposal No. 1 and other proposals.

As a result of the dual-class share structure and concentration of ownership after adoption of the Share Capital Reorganization, Ning Ding, our chief executive officer, chief financial officer and chairman of the Board of Directors, through DNR Technology Co., Ltd., will be able to determine the outcome of matters requiring shareholder approval, including those matters to be passed by either an ordinary resolution or a special resolution, such as decisions regarding the appointment and removal of directors, mergers, change of control transactions and other significant corporate actions. He may take actions that are not in the best interest of the Company or other shareholders of the Company. In addition, no shareholder holding less than ten percent (10%) of the rights to vote at a general meeting of the Company can requisition an extraordinary general meeting. This concentration of ownership may discourage, delay or prevent a change in control of the Company, which could have the effect of depriving our other shareholders of the opportunity to receive a premium for their shares as part of a sale of the Company and may reduce the price of the listed shares. This concentrated control will limit ability of other shareholders and potential investors to influence corporate matters and could discourage others from pursuing any potential merger, takeover or other change of control transactions that holders of Class A Ordinary Shares may view as beneficial.

**RESOLUTIONS TO BE VOTED UPON**

The full text of the resolution to be proposed is as follows:

*It is resolved, as a special resolution, that subject to the A&R M&A Proposal (as defined below) being approved and with effect upon approval by the Nasdaq Stock Market LLC (the "**Effective Time**"), the Company re-designate and re-classify its authorized and issued share capital from ordinary shares of par value US$0.000016666667 each (the "**Ordinary Shares**") into Class A ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class A Ordinary Shares**") and Class B ordinary shares of par value US$0.000016666667 each in the capital of the Company (the "**Class B Ordinary Shares**", and together with the Class A Ordinary Shares, the "**New Share Classes**") as follows (the "**Share Capital Reorganization**"):* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(i)* *each issued and outstanding Ordinary Share at the Effective Time, which is expected to be 64,322,249 Ordinary Shares, be re-designated and re-classified as follows:* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *6,000,000 Ordinary Shares held by DNR Technology Co., Ltd. be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)* *1,800,000 Ordinary Shares held by Vimisci Holding Limited be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c)* *450,000 Ordinary Shares held by Newmicro Holding Limited be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d)* *450,000 Ordinary Shares held by Jinshan International Investment Co., Ltd. be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares;* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(e)* *300,000 Ordinary Shares held by KKD Holding Limited be re-designated and re-classified, on a one-for-one basis, into Class B Ordinary Shares; and* 

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(f)* *the balance of the issued and outstanding Ordinary Shares, which is expected to be 55,322,249 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis into Class A Ordinary Shares,* 

 

***(together, the " Re-Designations"); and***

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(ii)* *each of the remaining authorized but unissued Ordinary Shares at the Effective Time, which is expected to be 2,935,677,751 Ordinary Shares, be re-designated and re-classified, on a one-for-one basis, into Class A Ordinary Shares,* 

 

 

*such that the Company's authorised share capital shall be amended:*

 

*from US$50,000 divided into 3,000,000,000 ordinary shares of a par value of US$0.000016666667 each* 

 

*to US$50,000 divided into 2,991,000,000 Class A ordinary shares of par value US$0.000016666667 each and 9,000,000 Class B ordinary shares of par value US$0.000016666667 each*

 

*(the "**Share Capital Reorganization Proposal**"),* 

 

*it being noted that the terms of, and rights attached to the New Share Classes will be materially identical to the existing Ordinary Shares save that: (i) holders of Class B Ordinary Shares will be entitled to cast 30 votes for each Class B Ordinary Share held on all matters decided by way of poll at a general meeting; and (ii) the Class B Ordinary Shares will be convertible into Class A Ordinary Shares at the option of the holder thereof on a one-for-one basis.*

 

**VOTE REQUIRED FOR APPROVAL**

Proposal No. 1 will be approved if not less than two-thirds of the total votes properly cast in person or by proxy at the EGM by the holders of Ordinary Shares entitled to vote at the EGM vote "FOR" the proposal.

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as a vote cast at the EGM.

**THE BOARD OF DIRECTORS RECOMMENDS<br> A VOTE *FOR*<br> THE SHARE CAPITAL REORGANIZATION.**

**PROPOSAL NO. 2**

**ADOPTION OF AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF <br> ASSOCIATION TO REFLECT THE SHARE CAPITAL REORGANIZATION** 

**RESOLUTION TO BE VOTED UPON**

The full text of the resolution to be proposed is as follows:

*It is resolved, as a special resolution, that subject to the approval of and immediately following the effectiveness of the Share Capital Reorganisation, the Company adopt amended and restated memorandum and articles of association (the "**A&R M&A**"), in substantially the form set out in <u>Exhibit A</u> to the Company's proxy statement, in substitution for, and to the exclusion of, the Company's existing amended and restated memorandum and articles of association.*

**VOTE REQUIRED FOR APPROVAL**

Proposal No. 2 will be approved if not less than two-thirds of the total votes properly cast in person or by proxy at the EGM by the holders of Ordinary Shares entitled to vote at the EGM vote "FOR" the proposal.

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as a vote cast at the EGM.

**THE BOARD OF DIRECTORS RECOMMENDS<br> A VOTE *FOR*<br> ADOPTION OF AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF <br> ASSOCIATION TO REFLECT THE SHARE CAPITAL REORGANIZATION.**

**PROPOSAL NO. 3**

**ADJOURNMENT**

Proposal No. 3, if adopted, will allow the Board of Directors to adjourn the meeting to a later date or dates or sine die, if necessary or desirable, at the discretion of the directors, to permit further solicitation and vote of proxies if, at the time of the EGM, there are not sufficient votes for, or otherwise in connection with, the approval of the foregoing proposals. If Proposal No. 3 is not approved by shareholders, the Board of Directors may not be able to adjourn the meetingto a later date in the event that there are insufficient votes for, or otherwise in connection with, the approval of the foregoing proposals.

**RESOLUTION TO BE VOTED UPON**

The full text of the resolution to be proposed is as follows:

*It is resolved, as an ordinary resolution, to adjourn the meeting to a later date or dates or sine die, if necessary or desirable, at the discretion of the directors, to permit further solicitation and vote of proxies if, at the time of the meeting, there are not sufficient votes for, or otherwise in connection with, the approval of the foregoing proposals.*

**VOTE REQUIRED FOR APPROVAL**

Proposal No. 3 will be approved if a simple majority of the total votes properly cast in person or by proxy at the EGM by the holders of Ordinary Shares entitled to vote at the EGM vote "FOR" the proposal.

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as a vote cast at the EGM.

**THE BOARD OF DIRECTORS RECOMMENDS<br> A VOTE *FOR*<br> THE ADJOURNMENT.**

**OTHER MATTERS**

The Board of Directors is not aware of any other matters to be submitted to the EGM. If any other matters properly come before the EGM, it is the intention of the persons named in the enclosed form of proxy to vote the Ordinary Shares they represent as the Board of Directors may recommend.

---

| | |
|:---|:---|
|  | By order of the Board of Directors |
| Date: February 11, 2026 | */s/ Ning Ding* |
|  | Ning Ding |
|  | Chairman of the Board of Directors |

---

**EXHIBIT A**

**Amended and Restated Memorandum and Articles of Association in Proposal No. 2**

**<br> Second Amended and restated** **memorandum of association<br> OF<br>ZJK INDUSTRIAL CO., LTD.** 

![](image_003.jpg)

**Companies Act (Revised)**

**Company Limited by Shares**

**Amended and Restated**

**Memorandum of Association**

**of**

**ZJK Industrial Co., Ltd.**

(Adopted by special resolution passed on [●] and made effective on [●])

1 The name of the Company is ZJK Industrial Co., Ltd.

---

| | |
|:---|:---|
| 2 | The Company's registered office will be situated at the office of ICS Corporate Services (Cayman) Limited, 3-212 Governors Square, 23 Lime Tree Bay Avenue, P.O. Box 30746, Seven Mile Beach, Grand Cayman KY1-1203, Cayman Islands, or at such other place in the Cayman Islands as the directors may at any time decide. |

---

3 The Company's objects are unrestricted. As provided by section 7(4) of the Companies Act (Revised), the Company has full power and authority to carry out any object not prohibited by any law of the Cayman Islands.

4 The Company has unrestricted corporate capacity. Without limitation to the foregoing, as provided by section 27(2) of the Companies Act (Revised), the Company has and is capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit.

5 Nothing in any of the preceding paragraphs permits the Company to carry on any of the following businesses without being duly licensed, namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the business of a bank or trust company without being licensed in that behalf under the Banks and Trust
Companies Act (Revised); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) insurance business from within the Cayman Islands or the business of an insurance manager, agent, sub-agent
or broker without being licensed in that behalf under the Insurance Act (Revised); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the business of company management without being licensed in that behalf under the Companies Management
Act (Revised).

---

| | |
|:---|:---|
| 6 | Unless licensed to do so, the Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance of its business carried on outside the Cayman Islands. Despite this, the Company may effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands any of its powers necessary for the carrying on of its business outside the Cayman Islands. |

---

---

| | |
|:---|:---|
| 7 | The Company is a company limited by shares and accordingly the liability of each member is limited to the amount (if any) unpaid on that member's shares. |

---

---

| | |
|:---|:---|
| 8 | The share capital of the Company is US$50,000 divided into 2,991,000,000 Class A ordinary shares of par value US$0.000016666667 each and 9,000,000 Class B ordinary shares of par value US$0.000016666667 each. However, subject to the Companies Act (Revised) and the Company's articles of association, the Company has power to do any one or more of the following: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to redeem or repurchase any of its shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to increase or reduce its capital; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to issue any part of its capital (whether original, redeemed, increased or reduced):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with or without any preferential, deferred, qualified or special rights, privileges or conditions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject to any limitations or restrictions

and unless the condition of issue expressly declares otherwise, every issue of shares (whether declared to be ordinary, preference or otherwise) is subject to this power; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to alter any of those rights, privileges, conditions, limitations or restrictions.

9 The Company has power to register by way of continuation as a body corporate limited by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands.

**SECOND AMENDED AND RESTATED<br> articles of association<br> of<br> ZJK Industrial Co., Ltd.** 

![](image_001.gif)

**Contents**

---

| | |
|:---|:---|
| **1 Definitions, interpretation and exclusion of Table A** | **1** |
| Definitions | 1 |
| Interpretation | 4 |
| Exclusion of Table A Articles | 5 |
| **2 Shares** | **5** |
| Power to issue Shares and options, with or without special rights | 5 |
| Power to issue fractions of a Share | 6 |
| Power to pay commissions and brokerage fees | 7 |
| Trusts not recognised | 7 |
| Security interests | 7 |
| Power to vary class rights | 7 |
| Effect of new Share issue on existing class rights | 8 |
| No bearer Shares or warrants | 8 |
| Treasury Shares | 8 |
| Rights attaching to Treasury Shares and related matters | 8 |
| Register of Members | 9 |
| Annual Return | 9 |
| **3 Share certificates** | **9** |
| Issue of share certificates | 9 |
| Renewal of lost or damaged share certificates | 10 |
| **4 Lien on Shares** | **10** |
| Nature and scope of lien | 10 |
| Company may sell Shares to satisfy lien | 11 |
| Authority to execute instrument of transfer | 11 |
| Consequences of sale of Shares to satisfy lien | 11 |
| Application of proceeds of sale | 12 |
| **5 Calls on Shares and forfeiture** | **12** |
| Power to make calls and effect of calls | 12 |
| Time when call made | 12 |
| Liability of joint holders | 12 |
| Interest on unpaid calls | 13 |
| Deemed calls | 13 |
| Power to accept early payment | 13 |
| Power to make different arrangements at time of issue of Shares | 13 |
| Notice of default | 13 |
| Forfeiture or surrender of Shares | 14 |
| Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender | 14 |
| Effect of forfeiture or surrender on former Member | 14 |
| Evidence of forfeiture or surrender | 15 |
| Sale of forfeited or surrendered Shares | 15 |
| **6 Transfer of Shares** | **15** |
| Form of transfer | 15 |
| Power to refuse registration | 15 |
| Notice of refusal to register | 16 |
| Power to suspend registration | 16 |
| Company may retain instrument of transfer | 16 |

---

---

| | |
|:---|:---|
| **7 Transmission of Shares** | **16** |
| Persons entitled on death of a Member | 16 |
| Registration of transfer of a Share following death or bankruptcy | 16 |
| Indemnity | 17 |
| Rights of person entitled to a Share following death or bankruptcy | 17 |
| **8 Alteration of capital** | **17** |
| Increasing, consolidating, converting, dividing and cancelling share capital | 17 |
| Dealing with fractions resulting from consolidation of Shares | 18 |
| Reducing share capital | 18 |
| **9 Conversion, redemption and purchase of own Shares** | **18** |
| Power to issue redeemable Shares and to purchase own Shares | 18 |
| Power to pay for redemption or purchase in cash or in specie | 19 |
| Effect of redemption or purchase of a Share | 19 |
| **Conversion rights – Class B Ordinary Shares** | **19** |
| **10 Meetings of Members** | **20** |
| Annual and extraordinary general meetings | 20 |
| Power to call meetings | 20 |
| Content of notice | 21 |
| Period of notice | 21 |
| Record date and persons entitled to receive notice | 22 |
| Accidental omission to give notice or non-receipt of notice | 22 |
| **11 Proceedings at meetings of Members** | **22** |
| Quorum | 22 |
| Lack of quorum | 23 |
| Chairman | 23 |
| Right of a Director to attend and speak | 23 |
| Accommodation of Members attending meeting virtually | 23 |
| Security | 23 |
| Adjournment, postponement and cancellation | 24 |
| Method of voting | 24 |
| Outcome of vote by show of hands | 24 |
| Withdrawal of demand for a poll | 24 |
| Taking of a poll | 25 |
| Chairman's casting vote | 25 |
| Written resolutions | 25 |
| Sole-Member Company | 26 |
| **12 Voting rights of Members** | **26** |
| Right to vote | 26 |
| Voting rights | 26 |
| Rights of joint holders | 27 |
| Representation of corporate Members | 27 |
| Member with mental disorder | 27 |
| Objections to admissibility of votes | 28 |
| Form of proxy | 28 |
| How and when proxy is to be delivered | 28 |
| Voting by proxy | 30 |
| **13 Number of Directors** | **30** |

---

---

| | |
|:---|:---|
| **14 Appointment, disqualification and removal of Directors** | **30** |
| First Directors | 30 |
| No age limit | 30 |
| Corporate Directors | 31 |
| No shareholding qualification | 31 |
| Appointment of Directors | 31 |
| Term of appointment | 31 |
| Eligibility | 31 |
| Removal of Directors | 31 |
| Resignation of Directors | 32 |
| Termination of the office of Director | 32 |
| **15 Alternate Directors** | **32** |
| Appointment and removal | 32 |
| Notices | 33 |
| Rights of alternate Director | 33 |
| Appointment ceases when the appointor ceases to be a Director | 33 |
| Status of alternate Director | 34 |
| Status of the Director making the appointment | 34 |
| **16 Powers of Directors** | **34** |
| Powers of Directors | 34 |
| Directors below the minimum number | 34 |
| Appointments to office | 35 |
| Provisions for employees | 35 |
| Exercise of voting rights | 35 |
| Remuneration | 36 |
| Disclosure of information | 36 |
| **17 Delegation of powers** | **36** |
| Power to delegate any of the Directors' powers to a committee | 36 |
| Local boards | 37 |
| Power to appoint an agent of the Company | 37 |
| Power to appoint an attorney or authorised signatory of the Company | 38 |
| Borrowing Powers | 38 |
| Corporate Governance | 38 |
| **18 Meetings of Directors** | **39** |
| Regulation of Directors' meetings | 39 |
| Calling meetings | 39 |
| Notice of meetings | 39 |
| Use of technology | 39 |
| Quorum | 39 |
| Chairman or deputy to preside | 39 |
| Voting | 39 |
| Recording of dissent | 40 |
| Written resolutions | 40 |
| Validity of acts of Directors in spite of formal defect | 40 |
| **19 Permissible Directors' interests and disclosure** | **40** |
| Permissible interests subject to disclosure | 40 |
| Notification of interests | 41 |
| Voting where a Director is interested in a matter | 41 |
| **20 Minutes** | **42** |
| **21 Accounts and audit** | **42** |
| Auditors | 42 |
| **22 Record dates** | **43** |

---

---

| | |
|:---|:---|
| **23 Dividends** | **43** |
| Source of dividends | 43 |
| Declaration of dividends by Members | 43 |
| Payment of interim dividends and declaration of final dividends by Directors | 43 |
| Apportionment of dividends | 44 |
| Right of set off | 44 |
| Power to pay other than in cash | 45 |
| How payments may be made | 45 |
| Dividends or other monies not to bear interest in absence of special rights | 46 |
| Dividends unable to be paid or unclaimed | 46 |
| **24 Capitalisation of profits** | **46** |
| Capitalisation of profits or of any share premium account or capital redemption reserve; | 46 |
| Applying an amount for the benefit of Members | 46 |
| **25 Share Premium Account** | **47** |
| Directors to maintain share premium account | 47 |
| Debits to share premium account | 47 |
| **26 Seal** | **47** |
| Company seal | 47 |
| Duplicate seal | 47 |
| When and how seal is to be used | 47 |
| If no seal is adopted or used | 48 |
| Power to allow non-manual signatures and facsimile printing of seal | 48 |
| Validity of execution | 48 |
| **27 Indemnity** | **48** |
| Release | 49 |
| Insurance | 49 |
| **28 Notices** | **49** |
| Form of notices | 49 |
| Electronic communications | 50 |
| Persons entitled to notices | 51 |
| Persons authorised to give notices | 51 |
| Delivery of written notices | 51 |
| Joint holders | 51 |
| Signatures | 51 |
| Giving notice to a deceased or bankrupt Member | 52 |
| Date of giving notices | 52 |
| Saving provision | 52 |
| **29 Authentication of Electronic Records** | **53** |
| Application of Articles | 53 |
| Authentication of documents sent by Members by Electronic means | 53 |
| Authentication of document sent by the Secretary or Officers of the Company by Electronic means | 53 |
| Manner of signing | 54 |
| Saving provision | 54 |
| **30 Transfer by way of continuation** | **54** |
| **31 Winding up** | **55** |
| Distribution of assets in specie | 55 |
| No obligation to accept liability | 55 |
| **32 Amendment of Memorandum and Articles** | **55** |
| Power to change name or amend Memorandum | 55 |
| Power to amend these Articles | 55 |

---

**Companies Act (Revised)**

**Company Limited by Shares**

**Amended and Restated<br> Articles of Association**

**of**

**ZJK Industrial Co., Ltd.** 

(Adopted by special resolution passed on [●] and made effective on [●])

1 Definitions, interpretation and exclusion of Table A

**Definitions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 In these Articles,
 the following definitions apply:

**Act** means the Companies Act (Revised) of the Cayman Islands, including any statutory modification or re-enactment thereof for the time being in force;

**ADS** means an American depository share representing an Ordinary Share;

**Articles** means, as appropriate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) these
 articles of association as amended from time to time: or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) two
 or more particular articles of these Articles;

and **Article** refers to a particular article of these Articles;

**Auditors** means the auditor or auditors for the time being of the Company;

**Board** means the board of Directors from time to time;

**Business Day** means a day when banks in Grand Cayman, the Cayman Islands are open for the transaction of normal banking business and for the avoidance of doubt, shall not include a Saturday, Sunday or public holiday in the Cayman Islands;

**Cayman Islands** means the British Overseas Territory of the Cayman Islands;

**Class A Ordinary Share** means an Ordinary Share designated by the directors as a Class A Ordinary Share;

**Class B Ordinary Share** means an Ordinary Share designated by the directors as a Class B Ordinary Share;

**Clear Days**, in relation to a period of notice, means that period excluding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 day when the notice is given or deemed to be given; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 day for which it is given or on which it is to take effect;

**Commission** means Securities and Exchange Commission of the United States of America or other federal agency for the time being administering the U.S. Securities Act;

**Company** means the above-named company;

**Default Rate** means ten per cent per annum;

**Designated Stock Exchanges** means Nasdaq Capital Market in the United States of America for so long as the Company's Shares or ADSs are there listed and any other stock exchange on which the Company's Shares or ADSs are listed for trading;

**Designated Stock Exchange Rules** means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares or ADSs on the Designated Stock Exchanges;

**Directors** means the directors for the time being of the Company and the expression Director shall be construed accordingly;

**Electronic** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

**Electronic Record** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

**Electronic Signature** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

**Fully Paid Up** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in relation
 to a Share with par value, means that the par value for that Share and any premium payable
 in respect of the issue of that Share, has been fully paid or credited as paid in money or
 money's worth; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in relation
 to a Share without par value, means that the agreed issue price for that Share has been fully
 paid or credited as paid in money or money's worth;

**General Meeting** means a general meeting of the Company duly constituted in accordance with the Articles;

**Independent Director** means a Director who is an independent director as defined in the Designated Stock Exchange Rules as determined by the Board;

**Member** means any person or persons entered on the register of Members from time to time as the holder of a Share;

**Memorandum** means the memorandum of association of the Company as amended from time to time;

**month** means a calendar month;

**Officer** means a person appointed to hold an office in the Company including a Director, alternate Director or liquidator and excluding the Secretary;

**Ordinary Resolution** means a resolution of a General Meeting passed by a simple majority of votes cast by Members who (being entitled to do so) vote in person or by proxy at that meeting. The expression includes a unanimous written resolution;

**Ordinary Share** means an ordinary share in the capital of the Company having the rights set out in these Articles and issued as either a Class A Ordinary Share or as a Class B Ordinary Share. In these Articles the term Ordinary Share shall embrace all classes of Ordinary Share except where reference is made to a specific class;

**Partly Paid Up** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in relation
 to a Share with par value, that the par value for that Share and any premium payable in respect
 of the issue of that Share, has not been fully paid or credited as paid in money or money's
 worth; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in relation
 to a Share without par value, means that the agreed issue price for that Share has not been
 fully paid or credited as paid in money or money's worth;

**Preferred Share** means a preferred share in the capital of the Company;

**Register of Members** means the register of Members maintained in accordance with the Act and includes (except where otherwise stated) any branch or duplicate register of Members;

**Secretary** means a person appointed to perform the duties of the secretary of the Company, including a joint, assistant or deputy secretary;

**Share** means a share in the capital of the Company and the expression:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) includes
 stock (except where a distinction between shares and stock is expressed or implied); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the context permits, also includes a fraction of a Share;

**Special Resolution** means a resolution of a General Meeting or a resolution of a meeting of the holders of any class of Shares in a class meeting duly constituted in accordance with the Articles in each case passed by a majority of votes not less than two-thirds of votes cast by Members who (being entitled to do so) vote in person or by proxy at that meeting. The expression includes a written resolution passed in accordance with the Act;

**Treasury Shares** means Shares held in treasury pursuant to the Act and Article 2.16; and

**U.S. 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.

**Interpretation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 In the interpretation
 of these Articles, the following provisions apply unless the context otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A reference
 in these Articles to a statute is a reference to a statute of the Cayman Islands as known
 by its short title, and includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any statutory
 modification, amendment or re-enactment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any subordinate
 legislation or regulations issued under that statute.

Without limitation to the preceding sentence, a reference to a revised Act of the Cayman Islands is taken to be a reference to the revision of that Act in force from time to time as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Headings
 are inserted for convenience only and do not affect the interpretation of these Articles,
 unless there is ambiguity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a
 day on which any act, matter or thing is to be done under these Articles is not a Business
 Day, the act, matter or thing must be done on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A word
 which denotes the singular also denotes the plural, a word which denotes the plural also
 denotes the singular, and a reference to any gender also denotes the other genders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A reference
 to a **person** includes, as appropriate, a company, trust, partnership, joint venture,
 association, body corporate or government agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Where
 a word or phrase is given a defined meaning another part of speech or grammatical form in
 respect to that word or phrase has a corresponding meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) All
 references to time are to be calculated by reference to time in the place where the Company's
 registered office is located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The
 words **written** and **in writing** include all modes of representing or reproducing
 words in a visible form, but do not include an Electronic Record where the distinction between
 a document in writing and an Electronic Record is expressed or implied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 words **including**, **include** and **in particular** or any similar expression
 are to be construed without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 The headings
 in these Articles are intended for convenience only and shall not affect the interpretation
 of these Articles.

**Exclusion of Table A Articles**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 The regulations
 contained in Table A in the First Schedule of the Act and any other regulations contained
 in any statute or subordinate legislation are expressly excluded and do not apply to the
 Company.

---

| | |
|:---|:---|
| 2 | Shares |

---

**Power to issue Shares and options, with or without special rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Subject to
 the provisions of the Act and these Articles about the redemption and purchase of the Shares,
 the Directors have general and unconditional authority to allot (with or without confirming
 rights of renunciation), grant options over or otherwise deal with any unissued Shares to
 such persons, at such times and on such terms and conditions as they may decide. No Share
 may be issued at a discount except in accordance with the provisions of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Without limitation
 to the preceding Article, the Directors may so deal with the unissued Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) either
 at a premium or at par; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 or without preferred, deferred or other special rights or restrictions, whether in regard
 to dividend, voting, return of capital or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Without limitation
 to the two preceding Articles, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 The Company
 may issue rights, options, warrants or convertible securities or securities of similar nature
 conferring the right upon the holders thereof to subscribe for, purchase or receive any class
 of Shares or other securities in the Company at such times and on such terms and conditions
 as the Directors may decide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 Before any
 Preferred Shares of any series are issued, the Directors shall fix, by resolution or resolutions,
 the following provisions of such series:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 designation of such series and the number of Preferred Shares to constitute such series;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the 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;&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, the preference or relation which such dividends shall bear to the dividends payable
 on any Shares of any other class of Shares or any other series of Preferred Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 the Preferred Shares or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 amount or amounts payable upon Preferred Shares of such series upon, and the rights of the
 holders of such series in, a voluntary or involuntary liquidation, dissolution or winding
 up, or upon any distribution of the assets, of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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
 of the retirement or sinking fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 of Shares 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 limitations and restrictions, if any, to be effective while any Preferred Shares or 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;&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;&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 of any other class of Shares or any
 other series of Preferred Shares.

**Power to issue fractions of a Share**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 Subject to
 the Act, the Company may issue fractions of a Share of any class. A fraction of a Share shall
 be subject to and carry the corresponding fraction of liabilities (whether with respect to
 calls or otherwise), limitations, preferences, privileges, qualifications, restrictions,
 rights and other attributes of a Share of that class of Shares.

**Power to pay commissions and brokerage fees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 The Company
 may pay a commission to any person in consideration of that person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subscribing
 or agreeing to subscribe, whether absolutely or conditionally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) procuring
 or agreeing to procure subscriptions, whether absolute or conditional,

for any Shares. That commission may be satisfied by the payment of cash or the allotment of Fully Paid Up or Partly Paid Up Shares or partly in one way and partly in another.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 The Company
 may employ a broker in the issue of its capital and pay him any proper commission or brokerage.

**Trusts not recognised**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 Except as
 required by Law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no person
 shall be recognised by the Company as holding any Share on any trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) no person
 other than the Member shall be recognised by the Company as having any right in a Share.

**Security interests**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 Notwithstanding
 the preceding Article, the Company may (but shall not be obliged to) recognise a security
 interest of which it has actual notice over shares. The Company shall not be treated as having
 recognised any such security interest unless it has so agreed in writing with the secured
 party.

**Power to vary class rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 If the share
 capital is divided into different classes of Shares then, unless the terms on which a class
 of Shares was issued state otherwise, the rights attaching to a class of Shares may only
 be varied if one of the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Members holding not less than two-thirds of the issued Shares of that class consent in writing
 to the variation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 variation is made with the sanction of a Special Resolution passed at a separate general
 meeting of the Members holding the issued Shares of that class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 For the purpose
 of Article 2.11(b), all the provisions of these Articles relating to general meetings apply,
 mutatis mutandis, to every such separate meeting except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 necessary quorum shall be one or more persons holding, or representing by proxy, not less
 than one third of the issued Shares of the class; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 Member holding issued Shares of the class, present in person or by proxy or, in the case
 of a corporate Member, by its duly authorised representative, may demand a poll.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 For the purposes
 of a separate class meeting, the Directors may treat two or more or all the classes of Shares
 as forming one class of Shares if the Directors consider that such classes of Shares would
 be affected in the same way by the proposals under consideration, but in any other case shall
 treat them as separate classes of Shares.

**Effect of new Share issue on existing class rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 Unless the
 terms on which a class of Shares was issued state otherwise, the rights conferred on the
 Member holding Shares of any class shall not be deemed to be varied by the creation or issue
 of further Shares ranking *pari passu* with the existing Shares of that class.

**No bearer Shares or warrants**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 The Company
 shall not issue Shares or warrants to bearers.

**Treasury Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 Shares that
 the Company purchases, redeems or acquires by way of surrender in accordance with the Act
 shall be held as Treasury Shares and not treated as cancelled if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Directors so determine prior to the purchase, redemption or surrender of those shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 relevant provisions of the Memorandum and Articles and the Act are otherwise complied with.

**Rights attaching to Treasury Shares and related matters**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 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 made to the Company in respect of a Treasury Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 The Company
 shall be entered in the register of Members as the holder of the Treasury Shares. However:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 Nothing in
 Article 2.18 prevents an allotment of Shares as Fully Paid Up bonus shares in respect of
 a Treasury Share and Shares allotted as Fully Paid Up bonus shares in respect of a Treasury
 Share shall be treated as Treasury Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 Treasury
 Shares may be disposed of by the Company in accordance with the Act and otherwise on such
 terms and conditions as the Directors determine.

**Register of Members**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 The Company
 shall maintain or cause to be maintained the Register of Members in accordance with the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 The Directors
 may determine that the Company shall maintain one or more branch registers of Members in
 accordance with the Act. The Directors may also determine which Register of Members shall
 constitute the principal register and which shall constitute the branch register or registers,
 and to vary such determination from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 The title
 to Shares may be evidenced and transferred in accordance with the laws applicable to the
 rules and regulations of the Designated Stock Exchange and, for these purposes, the Register
 of Members may be maintained in accordance with Article 40B of the Act.

**Annual Return**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 The Directors
 in each calendar year shall prepare or cause to be prepared an annual return and declaration
 setting forth the particulars required by the Act and shall deliver a copy thereof to the
 registrar of companies for the Cayman Islands.

3 Share certificates

**Issue of share certificates**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 A Member shall
 only be entitled to a share certificate if the Directors resolve that share certificates
 shall be issued. Share certificates representing Shares, if any, shall be in such form as
 the Directors may determine. If the Directors resolve that share certificates shall be issued,
 upon being entered in the register of Members as the holder of a Share, the Directors may
 issue to any Member:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) without
 payment, one certificate for all the Shares of each class held by that Member (and, upon
 transferring a part of the Member's holding of Shares of any class, to a certificate
 for the balance of that holding); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) upon
 payment of such reasonable sum as the Directors may determine for every certificate after
 the first, several certificates each for one or more of that Member's Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Every certificate
 shall specify the number, class and distinguishing numbers (if any) of the Shares to which
 it relates and whether they are Fully Paid Up or Partly Paid Up. A certificate may be executed
 under seal or executed in such other manner as the Directors determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 Every certificate
 shall bear legends required under the applicable laws, including the U.S. Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 The Company
 shall not be bound to issue more than one certificate for Shares held jointly by several
 persons and delivery of a certificate for a Share to one joint holder shall be a sufficient
 delivery to all of them.

**Renewal of lost or damaged share certificates**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 If a share
 certificate is defaced, worn-out, lost or destroyed, it may be renewed on such terms (if
 any) as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) evidence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) indemnity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) payment
 of the expenses reasonably incurred by the Company in investigating the evidence; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) payment
 of a reasonable fee, if any for issuing a replacement share certificate,

as the Directors may determine, and (in the case of defacement or wearing-out) on delivery to the Company of the old certificate.

4 Lien on Shares

**Nature and scope of lien**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The Company
 has a first and paramount lien on all Shares (whether Fully Paid Up or not) registered in
 the name of a Member (whether solely or jointly with others). The lien is for all monies
 payable to the Company by the Member or the Member's estate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) either
 alone or jointly with any other person, whether or not that other person is a Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 or not those monies are presently payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 At any time
 the Board may declare any Share to be wholly or partly exempt from the provisions of this
 Article.

**Company may sell Shares to satisfy lien**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 The Company
 may sell any Shares over which it has a lien if all of the following conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 sum in respect of which the lien exists is presently payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Company gives notice to the Member holding the Share (or to the person entitled to it in
 consequence of the death or bankruptcy of that Member) demanding payment and stating that
 if the notice is not complied with the Shares may be sold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that
 sum is not paid within fourteen Clear Days after that notice is deemed to be given under
 these Articles,

and Shares to which this Article 4.3 applies shall be referred to as **Lien Default Shares**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 The Lien Default
 Shares may be sold in such manner as the Board determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 To the maximum
 extent permitted by law, the Directors shall incur no personal liability to the Member concerned
 in respect of the sale.

**Authority to execute instrument of transfer**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 To give effect
 to a sale, the Directors may authorise any person to execute an instrument of transfer of
 the Lien Default Shares sold to, or in accordance with the directions of, the purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 The title
 of the transferee of the Lien Default Shares shall not be affected by any irregularity or
 invalidity in the proceedings in respect of the sale.

**Consequences of sale of Shares to satisfy lien**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 On a sale
 pursuant to the preceding Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 name of the Member concerned shall be removed from the register of Members as the holder
 of those Lien Default Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 person shall deliver to the Company for cancellation the certificate (if any) for those Lien
 Default Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 Notwithstanding
 the provisions of Article 4.8, such person shall remain liable to the Company for all monies
 which, at the date of sale, were presently payable by him to the Company in respect of those
 Lien Default Shares. That person shall also be liable to pay interest on those monies from
 the date of sale until payment at the rate at which interest was payable before that sale
 or, failing that, at the Default Rate. The Board may waive payment wholly or in part or enforce
 payment without any allowance for the value of the Lien Default Shares at the time of sale
 or for any consideration received on their disposal.

**Application of proceeds of sale**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 The net proceeds
 of the sale, after payment of the costs, shall be applied in payment of so much of the sum
 for which the lien exists as is presently payable. Any residue shall be paid to the person
 whose Lien Default Shares have been sold:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if no
 certificate for the Lien Default Shares was issued, at the date of the sale; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if a
 certificate for the Lien Default Shares was issued, upon surrender to the Company of that
 certificate for cancellation

but, in either case, subject to the Company retaining a like lien for all sums not presently payable as existed on the Lien Default Shares before the sale.

5 Calls on Shares and forfeiture

**Power to make calls and effect of calls**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Subject to
 the terms of allotment, the Board may make calls on the Members in respect of any monies
 unpaid on their Shares including any premium. The call may provide for payment to be by instalments.
 Subject to receiving at least 14 Clear Days' notice specifying when and where payment
 is to be made, each Member shall pay to the Company the amount called on his Shares as required
 by the notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Before receipt
 by the Company of any sum due under a call, that call may be revoked in whole or in part
 and payment of a call may be postponed in whole or in part. Where a call is to be paid in
 instalments, the Company may revoke the call in respect of all or any remaining instalments
 in whole or in part and may postpone payment of all or any of the remaining instalments in
 whole or in part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 A Member on
 whom a call is made shall remain liable for that call notwithstanding the subsequent transfer
 of the Shares in respect of which the call was made. He shall not be liable for calls made
 after he is no longer registered as Member in respect of those Shares.

**Time when call made**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 A call shall
 be deemed to have been made at the time when the resolution of the Directors authorising
 the call was passed.

**Liability of joint holders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 Members registered
 as the joint holders of a Share shall be jointly and severally liable to pay all calls in
 respect of the Share.

**Interest on unpaid calls**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 If a call
 remains unpaid after it has become due and payable the person from whom it is due and payable
 shall pay interest on the amount unpaid from the day it became due and payable until it is
 paid:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the
 rate fixed by the terms of allotment of the Share or in the notice of the call; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if no
 rate is fixed, at the Default Rate.

The Directors may waive payment of the interest wholly or in part.

**Deemed calls**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 Any amount
 payable in respect of a Share, whether on allotment or on a fixed date or otherwise, shall
 be deemed to be payable as a call. If the amount is not paid when due the provisions of these
 Articles shall apply as if the amount had become due and payable by virtue of a call.

**Power to accept early payment**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 The Company
 may accept from a Member the whole or a part of the amount remaining unpaid on Shares held
 by him although no part of that amount has been called up.

**Power to make different arrangements at time of issue of Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 Subject to
 the terms of allotment, the Directors may make arrangements on the issue of Shares to distinguish
 between Members in the amounts and times of payment of calls on their Shares.

**Notice of default**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10 If a call
 remains unpaid after it has become due and payable the Directors may give to the person from
 whom it is due not less than 14 Clear Days' notice requiring payment of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 amount unpaid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 interest which may have accrued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 expenses which have been incurred by the Company due to that person's default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11 The notice
 shall state the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 place where payment is to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a warning
 that if the notice is not complied with the Shares in respect of which the call is made will
 be liable to be forfeited.

**Forfeiture or surrender of Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12 If the notice
 given pursuant to Article 5.10 is not complied with, the Directors may, before the payment
 required by the notice has been received, resolve that any Share the subject of that notice
 be forfeited. The forfeiture shall include all dividends or other monies payable in respect
 of the forfeited Share and not paid before the forfeiture. Despite the foregoing, the Board
 may determine that any Share the subject of that notice be accepted by the Company as surrendered
 by the Member holding that Share in lieu of forfeiture.

**Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13 A forfeited
 or surrendered Share may be sold, re-allotted or otherwise disposed of on such terms and
 in such manner as the Board determine either to the former Member who held that Share or
 to any other person. The forfeiture or surrender may be cancelled on such terms as the Directors
 think fit at any time before a sale, re-allotment or other disposition. Where, for the purposes
 of its disposal, a forfeited or surrendered Share is to be transferred to any person, the
 Directors may authorise some person to execute an instrument of transfer of the Share to
 the transferee.

**Effect of forfeiture or surrender on former Member**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14 On forfeiture
 or surrender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 name of the Member concerned shall be removed from the register of Members as the holder
 of those Shares and that person shall cease to be a Member in respect of those Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 person shall surrender to the Company for cancellation the certificate (if any) for the forfeited
 or surrendered Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15 Despite the
 forfeiture or surrender of his Shares, that person shall remain liable to the Company for
 all monies which at the date of forfeiture or surrender were presently payable by him to
 the Company in respect of those Shares together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 expenses; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) interest
 from the date of forfeiture or surrender until payment:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at the
 rate of which interest was payable on those monies before forfeiture; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if no
 interest was so payable, at the Default Rate.

The Directors, however, may waive payment wholly or in part.

**Evidence of forfeiture or surrender**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16 A declaration,
 whether statutory or under oath, made by a Director or the Secretary shall be conclusive
 evidence of the following matters stated in it as against all persons claiming to be entitled
 to forfeited Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 the person making the declaration is a Director or Secretary of the Company, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 the particular Shares have been forfeited or surrendered on a particular date.

Subject to the execution of an instrument of transfer, if necessary, the declaration shall constitute good title to the Shares.

**Sale of forfeited or surrendered Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17 Any person
 to whom the forfeited or surrendered Shares are disposed of shall not be bound to see to
 the application of the consideration, if any, of those Shares nor shall his title to the
 Shares be affected by any irregularity in, or invalidity of the proceedings in respect of,
 the forfeiture, surrender or disposal of those Shares.

6 Transfer of Shares

**Form of transfer**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Subject to
 the following Articles about the transfer of Shares, and provided that such transfer complies
 with applicable rules of the SEC, the Designated Stock Exchange and federal and state securities
 laws of the United States, a Member may transfer Shares to another person by completing an
 instrument of transfer in a common form or in a form prescribed by the Designated Stock Exchange
 or in any other form approved by the Directors, executed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where
 the Shares are Fully Paid Up, by or on behalf of that Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the Shares are partly paid, by or on behalf of that Member and the transferee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 The transferor
 shall be deemed to remain the holder of a Share until the name of the transferee is entered
 into the Register of Members.

**Power to refuse registration**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 The Directors
 may refuse to register any transfer of Shares at their discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 If the Shares
 in question were issued in conjunction with rights, options or warrants issued pursuant to
 Article 2.4 on terms that one cannot be transferred without the other, the Directors shall
 refuse to register the transfer of any such Share without evidence satisfactory to them of
 the like transfer of such option or warrant.

**Notice of refusal to register**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 If the Directors
 refuse to register a transfer of any Shares, they shall within two months after the date
 on which the instrument of transfer was lodged with the Company send to each of the transferor
 and the transferee notice of the refusal.

**Power to suspend registration**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 The Directors
 may suspend registration of the transfer of Shares at such times and for such periods, not
 exceeding 45 days in any calendar year, as they determine.

**Company may retain instrument of transfer**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 The Company
 shall be entitled to retain any instrument of transfer which is registered; but an instrument
 of transfer which the Directors refuse to register shall be returned to the person lodging
 it when notice of the refusal is given.

7 Transmission of Shares

**Persons entitled on death of a Member**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 If a Member
 dies, the only persons recognised by the Company as having any title to the deceased Members'
 interest are the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where
 the deceased Member was a joint holder, the survivor or survivors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the deceased Member was a sole holder, that Member's personal representative or representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 Nothing in
 these Articles shall release the deceased Member's estate from any liability in respect
 of any Share, whether the deceased was a sole holder or a joint holder.

**Registration of transfer of a Share following death or bankruptcy**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 A person becoming
 entitled to a Share in consequence of the death or bankruptcy of a Member may elect to do
 either of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to become
 the holder of the Share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to transfer
 the Share to another person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 That person
 must produce such evidence of his entitlement as the Directors may properly require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 If the person
 elects to become the holder of the Share, he must give notice to the Company to that effect.
 For the purposes of these Articles, that notice shall be treated as though it were an executed
 instrument of transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 If the person
 elects to transfer the Share to another person then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the
 Share is Fully Paid Up, the transferor must execute an instrument of transfer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the
 Share is nil or Partly Paid Up, the transferor and the transferee must execute an instrument
 of transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 All the Articles
 relating to the transfer of Shares shall apply to the notice or, as appropriate, the instrument
 of transfer.

**Indemnity**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 A person registered
 as a Member by reason of the death or bankruptcy of another Member shall indemnify the Company
 and the Directors against any loss or damage suffered by the Company or the Directors as
 a result of that registration.

**Rights of person entitled to a Share following death or bankruptcy**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 A person becoming
 entitled to a Share by reason of the death or bankruptcy of a Member shall have the rights
 to which he would be entitled if he were registered as the holder of the Share. But, until
 he is registered as Member in respect of the Share, he shall not be entitled to attend or
 vote at any meeting of the Company or at any separate meeting of the holders of that class
 of Shares.

8 Alteration of capital

**Increasing, consolidating, converting, dividing and cancelling share capital**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 To the fullest
 extent permitted by the Act, the Company may by Ordinary Resolution do any of the following
 and amend its Memorandum for that purpose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by new Shares of the amount fixed by that Ordinary Resolution and with
 the attached rights, priorities and privileges set out in that Ordinary Resolution;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) sub-divide
 its Shares or any of them into Shares of an amount smaller than that fixed by the Memorandum,
 so, however, that in the sub-division, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel
 Shares which, at the date of the passing of that Ordinary Resolution, have not been taken
 or agreed to be taken by any person, and diminish the amount of its share capital by the
 amount of the Shares so cancelled or, in the case of Shares without nominal par value, diminish
 the number of Shares into which its capital is divided.

**Dealing with fractions resulting from consolidation of Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 Whenever,
 as a result of a consolidation of Shares, any Members would become entitled to fractions
 of a Share the Directors may on behalf of those Members deal with the fractions as it thinks
 fit, including (without limitation):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) sell
 the Shares representing the fractions for the best price reasonably obtainable to any person
 (including, subject to the provisions of the Act, the Company); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) distribute
 the net proceeds in due proportion among those Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 For the purposes
 of Article 8.2, the Directors may authorise some person to execute an instrument of transfer
 of the Shares to, in accordance with the directions of, the purchaser. The transferee shall
 not be bound to see to the application of the purchase money nor shall the transferee's
 title to the Shares be affected by any irregularity in, or invalidity of, the proceedings
 in respect of the sale.

**Reducing share capital**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 Subject to
 the Act and to any rights for the time being conferred on the Members holding a particular
 class of Shares, the Company may, by Special Resolution, reduce its share capital in any
 way.

9 Conversion, redemption and purchase of own Shares

**Power to issue redeemable Shares and to purchase own Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Subject to
 the Act and to any rights for the time being conferred on the Members holding a particular
 class of Shares, the Company may by its Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or liable to be redeemed, at the option of the Company or
 the Member holding those redeemable Shares, on the terms and in the manner its Directors
 determine before the issue of those Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 the consent by Special Resolution of the Members holding Shares of a particular class, vary
 the rights attaching to that class of Shares so as to provide that those Shares are to be
 redeemed or are liable to be redeemed at the option of the Company on the terms and in the
 manner which the Directors determine at the time of such variation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) purchase
 all or any of its own Shares of any class including any redeemable Shares on the terms and
 in the manner which the Directors determine at the time of such purchase.

The Company may make a payment in respect of the redemption or purchase of its own Shares in any manner authorised by the Act, including out of any combination of the following: capital, its profits and the proceeds of a fresh issue of Shares.

**Power to pay for redemption or purchase in cash or in specie**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 When making
 a payment in respect of the redemption or purchase of Shares, the Directors may make the
 payment in cash or *in specie* (or partly in one and partly in the other) if so authorised
 by the terms of the allotment of those Shares or by the terms applying to those Shares in
 accordance with Article 9.1, or otherwise by agreement with the Member holding those Shares.

**Effect of redemption or purchase of a Share**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Upon the date
 of redemption or purchase of a Share:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Member holding that Share shall cease to be entitled to any rights in respect of the Share
 other than the right to receive:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the price
 for the Share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any dividend
 declared in respect of the Share prior to the date of redemption or purchase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Member's name shall be removed from the register of Members with respect to the Share;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Share shall be cancelled or held as a Treasury Share, as the Directors may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 For the purpose
 of Article 9.3, the date of redemption or purchase is the date when the Member's name
 is removed from the register of Members with respect to the Shares the subject of the redemption
 or purchase.

**Conversion rights – Class B Ordinary Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 Each Class
 B Ordinary Share shall be convertible, at the option of the holder thereof, at any time after
 the date of issuance of such Share, at the office of the Company or any transfer agent for
 such Shares, into one fully paid and non-assessable Class A Ordinary Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 All conversions
 of Class B Ordinary Shares to Class A Ordinary Shares shall be effected by way of redemption
 or repurchase by the Company of the relevant Class B Ordinary Shares and the simultaneous
 issue of Class A Ordinary Shares in consideration for such redemption or repurchase. The
 Members and the Company will procure that any and all necessary corporate actions are taken
 to effect such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 The Directors
 shall at all times reserve and keep available out of the Company's authorised but unissued
 Class A Ordinary Shares, solely for the purpose of effecting the conversion of the Class
 B Ordinary Shares, such number of its Class A Ordinary Shares as shall from time to time
 be sufficient to effect the conversion of all outstanding Class B Ordinary Shares; and if
 at any time the number of authorised but unissued Class A Ordinary Shares shall not be sufficient
 to effect the conversion of all then outstanding Class B Ordinary Shares, in addition to
 such other remedies as shall be available to the holders of such Class B Ordinary Shares,
 the Directors will take such action as may be necessary to increase its authorised but unissued
 Class A Ordinary Shares to such number of Shares as shall be sufficient for such purposes.

10 Meetings of Members

**Annual and extraordinary general meetings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 The Company
 may, but shall not (unless required by the Designated Stock Exchange Rules) be obligated
 to, in each year hold a general meeting as an annual general meeting, which, if held, shall
 be convened by the Board, in accordance with these Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 All general
 meetings other than annual general meetings shall be called extraordinary general meetings.

**Power to call meetings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 The Directors
 may call a general meeting at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 If there
 are insufficient Directors to constitute a quorum and the remaining Directors are unable
 to agree on the appointment of additional Directors, the Directors must call a general meeting
 for the purpose of appointing additional Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 The Directors
 must also call a general meeting if requisitioned in the manner set out in the next two Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 The requisition
 must be in writing and given by one or more Members who together hold at least ten per cent
 of the rights to vote at such general meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7 The requisition
 must also:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specify
 the purpose of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be signed
 by or on behalf of each requisitioner (and for this purpose each joint holder shall be obliged
 to sign). The requisition may consist of several documents in like form signed by one or
 more of the requisitioners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) be delivered
 in accordance with the notice provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8 Should the
 Directors fail to call a general meeting within 21 Clear Days' from the date of receipt
 of a requisition, the requisitioners or any of them may call a general meeting within three
 months after the end of that period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9 Without limitation
 to the foregoing, if there are insufficient Directors to constitute a quorum and the remaining
 Directors are unable to agree on the appointment of additional Directors, any one or more
 Members who together hold at least five per cent of the rights to vote at a general meeting
 may call a general meeting for the purpose of considering the business specified in the notice
 of meeting which shall include as an item of business the appointment of additional Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10 If the Members
 call a meeting under the above provisions, the Company shall reimburse their reasonable expenses.

**Content of notice**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.11 Notice of
 a general meeting shall specify each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 date and the hour of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the meeting will be held virtually, at a physical place or both;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the
 meeting is to be held in any part at a physical place, the address of such place;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the
 meeting is to be held in two or more places or in any part virtually, the technology that
 will be used to facilitate the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) subject
 to paragraph (f) and the requirements of (to the extent applicable) the Designated Stock
 Exchange Rules, the general nature of the business to be transacted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if a
 resolution is proposed as a Special Resolution, the text of that resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.12 In each
 notice there shall appear with reasonable prominence the following statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 a Member who is entitled to attend and vote is entitled to appoint one or more proxies to
 attend and vote instead of that Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 a proxyholder need not be a Member.

**Period of notice**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13 At least
 seven Clear Days' notice of any general meeting must be given to Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.14 Subject
 to the Act, a meeting may be convened on shorter notice, subject to the Act with the consent
 of the Member or Members who, individually or collectively, hold at least ninety per cent
 of the voting rights of all those who have a right to vote at that meeting.

**Record date and persons entitled to receive notice**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.15 Subject
 to the provisions of these Articles and to any restrictions imposed on any Shares, the notice
 shall be given to the following people:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Members

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) persons
 entitled to a Share in consequence of the death or bankruptcy of a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.16 The Board
 may determine that the Members entitled to receive notice of and vote at a meeting are those
 persons entered on the register of Members at the close of business on a day determined by
 the Board.

**Accidental omission to give notice or non-receipt of notice**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.17 Proceedings
 at a meeting shall not be invalidated by the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an accidental
 failure to give notice of the meeting to any person entitled to notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) non-receipt
 of notice of the meeting by any person entitled to notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.18 In addition,
 where a notice of meeting is published on a website proceedings at the meeting shall not
 be invalidated merely because it is accidentally published:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in a
 different place on the website; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 part only of the period from the date of the notification until the conclusion of the meeting
 to which the notice relates.

11 Proceedings at meetings of Members

**Quorum**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Save as provided
 in the following Article, no business shall be transacted at any meeting unless a quorum
 is present in person or by proxy. A quorum is as follows:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the
 Company has more than one Member: one or more Members holding Shares that represent not less
 than a majority of the outstanding Shares carrying the right to vote at such general meeting.

**Lack of quorum**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 If a quorum
 is not present within fifteen minutes of the time appointed for the meeting, or if at any
 time during the meeting it becomes inquorate, then the following provisions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the
 meeting was requisitioned by Members, it shall be cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In any
 other case, the meeting shall stand adjourned to the same time and place seven days hence,
 or to such other time or place as is determined by the Directors. If a quorum is not present
 within fifteen minutes of the time appointed for the adjourned meeting, then the Members
 present in person or by proxy shall constitute a quorum.

**Chairman**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 The chairman
 of a general meeting shall be the chairman of the Board or such other person as the Directors
 may determine. Absent any such person being present within fifteen minutes of the time appointed
 for the meeting, the Directors present shall elect one of their number to chair the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 If no Director
 is present within fifteen minutes of the time appointed for the meeting, or if no Director
 is willing to act as chairman, the Members present in person or by proxy and entitled to
 vote shall choose one of their number to chair the meeting.

**Right of a Director to attend and speak**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 Even if a
 Director is not a Member, he shall be entitled to attend and speak at any general meeting
 and at any separate meeting of Members holding a particular class of Shares.

**Accommodation of Members attending meeting virtually**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 A Member
 entitled to receive notice and attend a meeting will be deemed to be in attendance at such
 meeting despite their attendance being virtual if adequate facilities are available to ensure
 that the Member is able to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) participate
 in the business for which the meeting has been convened; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) hear
 all that happens at the meeting.

**Security**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 In addition
 to any measures which the Board may be required to take due to the location or venue of the
 meeting, the Board may make any arrangement and impose any restriction it considers appropriate
 and reasonable in the circumstances to ensure the security of a meeting including, without
 limitation, the searching of any person attending the meeting and the imposing of restrictions
 on the items of personal property that may be taken into the meeting place. The Board may
 refuse entry to, or eject from, a meeting a person who refuses to comply with any such arrangements
 or restrictions.

**Adjournment, postponement and cancellation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 A meeting
 may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) postponed
 or cancelled prior to the meeting at the discretion of the Directors by written notice provided
 to all persons entitled to attend the meeting, unless the meeting was requisitioned by Members
 or otherwise called by Members pursuant to Article 10.8; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) adjourned,
 with or without an appointed date for resumption, at any time during the meeting at the discretion
 of the chairman with the consent of the Members constituting a quorum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 The chairman
 must adjourn a meeting if so directed by Members constituting a quorum at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 No business
 can be transacted at an adjourned meeting other than business which might properly have been
 transacted at the original meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11 Should a
 meeting be adjourned for more than 7 Clear Days, whether because of a lack of quorum or otherwise,
 Members shall be given at least seven Clear Days' notice of the date, time and place
 of the adjourned meeting and the general nature of the business to be transacted. Otherwise
 it shall not be necessary to give any notice of the adjournment.

**Method of voting**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12 A resolution
 put to the vote of the meeting shall be decided on a show of hands unless before, or on,
 the declaration of the result of the show of hands, a poll is duly demanded. Subject to the
 Act, a poll may be demanded:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by the
 chairman of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by at
 least two Members having the right to vote on the resolutions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by any
 Member or Members present who, individually or collectively, hold at least ten per cent of
 the voting rights of all those who have a right to vote on the resolution.

**Outcome of vote by show of hands**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13 Unless a
 poll is duly demanded, a declaration by the chairman as to the result of a resolution and
 an entry to that effect in the minutes of the meeting shall be conclusive evidence of the
 outcome of a show of hands without proof of the number or proportion of the votes recorded
 in favour of or against the resolution.

**Withdrawal of demand for a poll**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14 The demand
 for a poll may be withdrawn before the poll is taken, but only with the consent of the chairman.
 The chairman shall announce any such withdrawal to the meeting and, unless another person
 forthwith demands a poll, any earlier show of hands on that resolution shall be treated as
 the vote on that resolution; if there has been no earlier show of hands, then the resolution
 shall be put to the vote of the meeting.

**Taking of a poll**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15 A poll demanded
 on the question of adjournment shall be taken immediately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.16 A poll demanded
 on any other question shall be taken either immediately or at an adjourned meeting at such
 time and place as the chairman directs, not being more than thirty Clear Days after the poll
 was demanded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.17 The demand
 for a poll shall not prevent the meeting continuing to transact any business other than the
 question on which the poll was demanded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.18 A poll shall
 be taken in such manner as the chairman directs. He may appoint scrutineers (who need not
 be Members) and fix a place and time for declaring the result of the poll. If, through the
 aid of technology, the meeting is held virtually or in more than place, the chairman may
 appoint scrutineers virtually and in more than place; but if he considers that the poll cannot
 be effectively monitored at that meeting, the chairman shall adjourn the holding of the poll
 to a date, place and time when that can occur.

**Chairman's casting vote**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.19 In the case
 of an equality of votes, whether on a show of hands or on a poll, the Chairman of the meeting
 at which the show of hands takes place or at which the poll is demanded shall not be entitled
 to a second or casting vote.

**Written resolutions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.20 Members
 may pass a resolution in writing without holding a meeting if the following conditions are
 met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Members entitled to vote are given notice of the resolution as if the same were being proposed
 at a meeting of Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 Members entitled so to vote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) sign a
 document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) sign
 several documents in the like form each signed by one or more of those Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 signed document or documents is or are delivered to the Company, including, if the Company
 so nominates, by delivery of an Electronic Record by Electronic means to the address specified
 for that purpose.

Such written resolution shall be as effective as if it had been passed at a meeting of the Members entitled to vote duly convened and held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.21 If a written
 resolution is described as a Special Resolution or as an Ordinary Resolution, it has effect
 accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.22 The Directors
 may determine the manner in which written resolutions shall be put to Members. In particular,
 they may provide, in the form of any written resolution, for each Member to indicate, out
 of the number of votes the Member would have been entitled to cast at a meeting to consider
 the resolution, how many votes he wishes to cast in favour of the resolution and how many
 against the resolution or to be treated as abstentions. The result of any such written resolution
 shall be determined on the same basis as on a poll.

**Sole-Member Company**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.23 If the Company
 has only one Member, and the Member records in writing his decision on a question, that record
 shall constitute both the passing of a resolution and the minute of it.

12 Voting rights of Members

**Right to vote**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 Subject to
 the following, unless their Shares carry no right to vote, or unless a call or other amount
 presently payable has not been paid, all Members are entitled to vote at a general meeting,
 whether on a show of hands or on a poll, and all Members holding Shares of a particular class
 of Shares are entitled to vote at a meeting of the holders of that class of Shares.

**Voting rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 The holder
 of an Ordinary Share shall (in respect of such Ordinary Share) have the right to receive
 notice of, attend at and vote as a Member at any general meeting of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 Members may
 vote in person or by proxy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 On a show
 of hands, every Member shall have one vote. For the avoidance of doubt, an individual who
 represents two or more Members, including a Member in that individual's own right,
 that individual shall be entitled to a separate vote for each Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 On a poll,
 each holder of Ordinary Shares shall be entitled to one (1) vote for each Ordinary Share
 he or she holds, save that each holder of Class B Ordinary Shares shall, on a poll, be entitled
 to thirty (30) votes for each Class B Ordinary Share he or she holds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 No Member
 is bound to vote on his Shares or any of them; nor is he bound to vote each of his Shares
 in the same way.

**Rights of joint holders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 If Shares
 are held jointly, only one of the joint holders may vote. If more than one of the joint holders
 tenders a vote, the vote of the holder whose name in respect of those Shares appears first
 in the register of Members shall be accepted to the exclusion of the votes of the other joint
 holder.

**Representation of corporate Members**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.8 Save where
 otherwise provided, a corporate Member must act by a duly authorised representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.9 A corporate
 Member wishing to act by a duly authorised representative must identify that person to the
 Company by notice in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.10 The authorisation
 may be for any period of time, and must be delivered to the Company before the commencement
 of the meeting at which it is first used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.11 The Directors
 of the Company may require the production of any evidence which they consider necessary to
 determine the validity of the notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.12 Where a
 duly authorised representative is present at a meeting that Member is deemed to be present
 in person; and the acts of the duly authorised representative are personal acts of that Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.13 A corporate
 Member may revoke the appointment of a duly authorised representative at any time by notice
 to the Company; but such revocation will not affect the validity of any acts carried out
 by the duly authorised representative before the Directors of the Company had actual notice
 of the revocation.

**Member with mental disorder**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.14 A Member
 in respect of whom an order has been made by any court having jurisdiction (whether in the
 Cayman Islands or elsewhere) in matters concerning mental disorder may vote, whether on a
 show of hands or on a poll, by that Member's receiver, *curator bonis* or other
 person authorised in that behalf appointed by that court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.15 For the
 purpose of the preceding Article, evidence to the satisfaction of the Directors of the authority
 of the person claiming to exercise the right to vote must be received not less than 24 hours
 before holding the relevant meeting or the adjourned meeting in any manner specified for
 the delivery of forms of appointment of a proxy, whether in writing or by Electronic means.
 In default, the right to vote shall not be exercisable.

**Objections to admissibility of votes**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.16 An objection
 to the validity of a person's vote may only be raised at the meeting or at the adjourned
 meeting at which the vote is sought to be tendered. Any objection duly made shall be referred
 to the chairman whose decision shall be final and conclusive.

**Form of proxy**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.17 An instrument
 appointing a proxy shall be in any common form or in any other form approved by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.18 The instrument
 must be in writing and signed in one of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by the
 Member; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by the
 Member's authorised attorney; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the
 Member is a corporation or other body corporate, under seal or signed by an authorised officer,
 secretary or attorney.

If the Directors so resolve, the Company may accept an Electronic Record of that instrument delivered in the manner specified below and otherwise satisfying the Articles about authentication of Electronic Records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.19 The Directors
 may require the production of any evidence which they consider necessary to determine the
 validity of any appointment of a proxy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.20 A Member
 may revoke the appointment of a proxy at any time by notice to the Company duly signed in
 accordance with Article 12.18.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.21 No revocation
 by a Member of the appointment of a proxy made in accordance with Article 12.20 will affect
 the validity of any acts carried out by the relevant proxy before the Directors of the Company
 had actual notice of the revocation.

**How and when proxy is to be delivered**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.22 Subject
 to the following Articles, the Directors may, in the notice convening any meeting or adjourned
 meeting, or in an instrument of proxy sent out by the Company, specify the manner by which
 the instrument appointing a proxy shall be deposited and the place and the time (being not
 later than the time appointed for the commencement of the meeting or adjourned meeting to
 which the proxy relates) at which the instrument appointing a proxy shall be deposited. In
 the absence of any such direction from the Directors in the notice convening any meeting
 or adjourned meeting or in an instrument of proxy sent out by the Company, the form of appointment
 of a proxy and any authority under which it is signed (or a copy of the authority certified
 notarially or in any other way approved by the Directors) must be delivered so that it is
 received by the Company before the time for holding the meeting or adjourned meeting at which
 the person named in the form of appointment of proxy proposes to vote. They must be delivered
 in either of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the
 case of an instrument in writing, it must be left at or sent by post:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to the
 registered office of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to such
 other place within the Cayman Islands specified in the notice convening the meeting or in
 any form of appointment of proxy sent out by the Company in relation to the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If,
 pursuant to the notice provisions, a notice may be given to the Company in an Electronic
 Record, an Electronic Record of an appointment of a proxy must be sent to the address specified
 pursuant to those provisions unless another address for that purpose is specified:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in the
 notice convening the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in any
 form of appointment of a proxy sent out by the Company in relation to the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in any
 invitation to appoint a proxy issued by the Company in relation to the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding
 Article 12.22(a) and Article 12.22(b), the chairman of the Company may, in any event at his
 discretion, direct that an instrument of proxy shall be deemed to have been duly deposited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.23 Where a
 poll is taken:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if it
 is taken more than seven Clear Days after it is demanded, the form of appointment of a proxy
 and any accompanying authority (or an Electronic Record of the same) must be delivered in
 accordance with Article 12.22 before the time appointed for the taking of the poll;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if it
 to be taken within seven Clear Days after it was demanded, the form of appointment of a proxy
 and any accompanying authority (or an Electronic Record of the same) must be delivered in
 accordance with Article 12.22 before the time appointed for the taking of the poll.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.24 If the form
 of appointment of proxy is not delivered on time, it is invalid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.25 When two
 or more valid but differing appointments of proxy are delivered or received in respect of
 the same Share for use at the same meeting and in respect of the same matter, the one which
 is last validly delivered or received (regardless of its date or of the date of its execution)
 shall be treated as replacing and revoking the other or others as regards that Share. lf
 the Company is unable to determine which appointment was last validly delivered or received,
 none of them shall be treated as valid in respect of that Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.26 The Board
 may at the expense of the Company send forms of appointment of proxy to the Members by post
 (that is to say, pre-paying and posting a letter), or by Electronic communication or otherwise
 (with or without provision for their return by pre-paid post) for use at any general meeting
 or at any separate meeting of the holders of any class of Shares, either blank or nominating
 as proxy in the alternative any one or more of the Directors or any other person. lf for
 the purpose of any meeting invitations to appoint as proxy a person or one of a number of
 persons specified in the invitations are issued at the Company's expense, they shall
 be issued to all (and not to some only) of the Members entitled to be sent notice of the
 meeting and to vote at it. The accidental omission to send such a form of appointment or
 to give such an invitation to, or the non-receipt of such form of appointment by, any Member
 entitled to attend and vote at a meeting shall not invalidate the proceedings at that meeting

**Voting by proxy**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.27 A proxy
 shall have the same voting rights at a meeting or adjourned meeting as the Member would have
 had except to the extent that the instrument appointing him limits those rights. Notwithstanding
 the appointment of a proxy, a Member may attend and vote at a meeting or adjourned meeting.
 If a Member votes on any resolution a vote by his proxy on the same resolution, unless in
 respect of different Shares, shall be invalid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.28 The instrument
 appointing a proxy to vote at a meeting shall be deemed also to confer authority to demand
 or join in demanding a poll and, for the purposes of Article 11.13, a demand by a person
 as proxy for a Member shall be the same as a demand by a Member. Such appointment shall not
 confer any further right to speak at the meeting, except with the permission of the chairman
 of the meeting.

13 Number of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 There shall
 be a Board consisting of not less than one person provided however that the Company may by
 Ordinary Resolution increase or reduce the limits in the number of Directors. Unless fixed
 by Ordinary Resolution, the maximum number of Directors shall be unlimited.

14 Appointment, disqualification and removal of Directors

**First Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 The first
 Directors shall be appointed in writing by the subscriber or subscribers to the Memorandum,
 or a majority of them.

**No age limit**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 There is
 no age limit for Directors save that they must be at least eighteen years of age.

**Corporate Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3 Unless prohibited
 by law, a body corporate may be a Director. If a body corporate is a Director, the Articles
 about representation of corporate Members at general meetings apply, mutatis mutandis, to
 the Articles about Directors' meetings.

**No shareholding qualification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4 Unless a
 shareholding qualification for Directors is fixed by Ordinary Resolution, no Director shall
 be required to own Shares as a condition of his appointment.

**Appointment of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5 A Director
 may be appointed by Ordinary Resolution or by the Directors. Any appointment may be to fill
 a vacancy or as an additional Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6 A remaining
 Director may appoint a Director even though there is not a quorum of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7 No appointment
 can cause the number of Directors to exceed the maximum (if one is set); and any such appointment
 shall be invalid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.8 For so long
 as Shares or ADSs are listed on a Designated Stock Exchange, the Directors shall include
 at least such number of Independent Directors as applicable law, rules or regulations or
 the Designated Stock Exchange Rules require as determined by the Board.

**Term of appointment**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.9 Each Director
 appointed shall hold office until such time as they resign, are removed from office by Ordinary
 Resolution or otherwise ceases to be eligible to be a director of the Company.

**Eligibility**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.10 No person
 (other than a Director retiring in accordance with these Articles) shall be appointed or
 re-appointed a Director at any general meeting unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) he is
 recommended by the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not
 less than seven nor more than forty-two Clear Days before the date appointed for the meeting,
 a Member (other than the person to be proposed) entitled to vote at the meeting has given
 to the Company notice of his intention to propose a resolution for the appointment of that person, stating the particulars which would, if he
 were so appointed, be required to be included in the Company's register of Directors
 and a notice executed by that person of his willingness to be appointed.

**Removal of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.11 A Director
 may be removed by Ordinary Resolution.

**Resignation of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.12 A Director
 may at any time resign office by giving to the Company notice in writing or, if permitted
 pursuant to the notice provisions, in an Electronic Record delivered in either case in accordance
 with those provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.13 Unless the
 notice specifies a different date, the Director shall be deemed to have resigned on the date
 that the notice is delivered to the Company.

**Termination of the office of Director**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.14 A Director
 may retire from office as a Director by giving notice in writing to that effect to the Company
 at the registered office, which notice shall be effective upon such date as may be specified
 in the notice, failing which upon delivery to the registered office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.15 Without
 prejudice to the provisions in these Articles for retirement (by rotation or otherwise),
 a Director's office shall be terminated forthwith if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) he is
 prohibited by the law of the Cayman Islands from acting as a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) he is
 made bankrupt or makes an arrangement or composition with his creditors generally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) he resigns
 his office by notice to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) he only
 held office as a Director for a fixed term and such term expires; or

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) without
 the consent of the other Directors, he is absent from meetings of Directors for a continuous
 period of six months.

15 Alternate Directors

**Appointment and removal**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 Any Director
 may appoint any other person, including another Director, to act in his place as an alternate
 Director. No appointment shall take effect until the Director has given notice of the appointment
 to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 A Director
 may revoke his appointment of an alternate at any time. No revocation shall take effect until
 the Director has given notice of the revocation to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 A notice
 of appointment or removal of an alternate Director shall be effective only if given to the
 Company by one or more of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by notice
 in writing in accordance with the notice provisions contained in these Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the
 Company has a facsimile address for the time being, by sending by facsimile transmission
 to that facsimile address a facsimile copy or, otherwise, by sending by facsimile transmission
 to the facsimile address of the Company's registered office a facsimile copy (in either
 case, the facsimile copy being deemed to be the notice unless Article 29.7 applies), in which
 event notice shall be taken to be given on the date of an error-free transmission report
 from the sender's fax machine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if the
 Company has an email address for the time being, by emailing to that email address a scanned
 copy of the notice as a PDF attachment or, otherwise, by emailing to the email address provided
 by the Company's registered office a scanned copy of the notice as a PDF attachment
 (in either case, the PDF version being deemed to be the notice unless Article 29.7 applies),
 in which event notice shall be taken to be given on the date of receipt by the Company or
 the Company's registered office (as appropriate) in readable form; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if permitted
 pursuant to the notice provisions, in some other form of approved Electronic Record delivered
 in accordance with those provisions in writing.

**Notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4 All notices
 of meetings of Directors shall continue to be given to the appointing Director and not to
 the alternate.

**Rights of alternate Director**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5 An alternate
 Director shall be entitled to attend and vote at any Board meeting or meeting of a committee
 of the Directors at which the appointing Director is not personally present, and generally
 to perform all the functions of the appointing Director in his absence. An alternate Director,
 however, is not entitled to receive any remuneration from the Company for services rendered
 as an alternate Director.

**Appointment ceases when the appointor ceases to be a Director**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.6 An alternate
 Director shall cease to be an alternate Director if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Director who appointed him ceases to be a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Director who appointed him revokes his appointment by notice delivered to the Board or to
 the registered office of the Company or in any other manner approved by the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in any
 event happens in relation to him which, if he were a Director of the Company, would cause
 his office as Director to be vacated.

**Status of alternate Director**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.7 An alternate
 Director shall carry out all functions of the Director who made the appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.8 Save where
 otherwise expressed, an alternate Director shall be treated as a Director under these Articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.9 An alternate
 Director is not the agent of the Director appointing him.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.10 An alternate
 Director is not entitled to any remuneration for acting as alternate Director.

**Status of the Director making the appointment**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.11 A Director
 who has appointed an alternate is not thereby relieved from the duties which he owes the
 Company.

16 Powers of Directors

**Powers of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 Subject to
 the provisions of the Act, the Memorandum and these Articles the business of the Company
 shall be managed by the Directors who may for that purpose exercise all the powers of the
 Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 No prior
 act of the Directors shall be invalidated by any subsequent alteration of the Memorandum
 or these Articles. However, to the extent allowed by the Act, Members may, by Special Resolution,
 validate any prior or future act of the Directors which would otherwise be in breach of their
 duties.

**Directors below the minimum number**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3 lf the number
 of Directors is less than the minimum prescribed in accordance with these Articles, the remaining
 Director or Directors shall act only for the purposes of appointing an additional Director
 or Directors to make up such minimum or of convening a general meeting of the Company for
 the purpose of making such appointment. lf there are no Director or Directors able or willing
 to act, any two Members may summon a general meeting for the purpose of appointing Directors.
 Any additional Director so appointed shall hold office (subject to these Articles) only until
 the dissolution of the annual general meeting next following such appointment unless he is
 re-elected during such meeting.

**Appointments to office**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4 The Directors
 may appoint a Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as chairman
 of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as managing
 Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to any
 other executive office,

for such period, and on such terms, including as to remuneration as they think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5 The appointee
 must consent in writing to holding that office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6 Where a chairman
 is appointed he shall, unless unable to do so, preside at every meeting of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.7 If there
 is no chairman, or if the chairman is unable to preside at a meeting, that meeting may select
 its own chairman; or the Directors may nominate one of their number to act in place of the
 chairman should he ever not be available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.8 Subject to
 the provisions of the Act, the Directors may also appoint and remove any person, who need
 not be a Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as Secretary;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to any
 office that may be required

for such period and on such terms, including as to remuneration, as they think fit. In the case of an Officer, that Officer may be given any title the Directors decide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.9 The Secretary
 or Officer must consent in writing to holding that office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.10 A Director,
 Secretary or other Officer of the Company may not the hold the office, or perform the services,
 of auditor.

**Provisions for employees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.11 The Board
 may make provision for the benefit of any persons employed or formerly employed by the Company
 or any of its subsidiary undertakings (or any member of his family or any person who is dependent
 on him) in connection with the cessation or the transfer to any person of the whole or part
 of the undertaking of the Company or any of its subsidiary undertakings.

**Exercise of voting rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.12 The Board
 may exercise the voting power conferred by the Shares in any body corporate held or owned
 by the Company in such manner in all respects as it thinks fit (including, without limitation,
 the exercise of that power in favour of any resolution appointing any Director as a Director
 of such body corporate, or voting or providing for the payment of remuneration to the Directors
 of such body corporate).

**Remuneration**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.13 Every Director
 may be remunerated by the Company for the services he provides for the benefit of the Company,
 whether as Director, employee or otherwise, and shall be entitled to be paid for the expenses
 incurred in the Company's business including attendance at Directors' meetings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.14 Until otherwise
 determined by the Company by Ordinary Resolution, the Directors (other than alternate Directors)
 shall be entitled to such remuneration by way of fees for their services in the office of
 Director as the Directors may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.15 Remuneration
 may take any form and may include arrangements to pay pensions, health insurance, death or
 sickness benefits, whether to the Director or to any other person connected to or related
 to him.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.16 Unless his
 fellow Directors determine otherwise, a Director is not accountable to the Company for remuneration
 or other benefits received from any other company which is in the same group as the Company
 or which has common shareholdings.

**Disclosure of information**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.17 The Directors
 may release or disclose to a third party any information regarding the affairs of the Company,
 including any information contained in the register of Members relating to a Member, (and
 they may authorise any Director, Officer or other authorised agent of the Company to release
 or disclose to a third party any such information in his possession) if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company or that person, as the case may be, is lawfully required to do so under the laws
 of any jurisdiction to which the Company is subject; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such
 disclosure is in compliance with the Designated Stock Exchange Rules; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such
 disclosure is in accordance with any contract entered into by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Directors are of the opinion such disclosure would assist or facilitate the Company's
 operations.

17 Delegation of powers

**Power to delegate any of the Directors' powers to a committee**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1 The Directors
 may delegate any of their powers to any committee consisting of one or more persons who need
 not be Members. Persons on the committee may include non-Directors so long as the majority
 of those persons are Directors. Any such committee shall be made up of such number of Independent
 Directors as required from time to time by the Designated Stock Exchange Rules or otherwise
 required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2 The delegation
 may be collateral with, or to the exclusion of, the Directors' own powers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3 The delegation
 may be on such terms as the Directors think fit, including provision for the committee itself
 to delegate to a sub-committee; save that any delegation must be capable of being revoked
 or altered by the Directors at will.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4 Unless otherwise
 permitted by the Directors, a committee must follow the procedures prescribed for the taking
 of decisions by Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.5 The Board
 shall establish an audit committee, a compensation committee and a nominating and corporate
 governance committee. Each of these committees shall be empowered to do all things necessary
 to exercise the rights of such committee set forth in these Articles. Each of the audit committee,
 compensation committee and nominating and corporate governance committee shall consist of
 at least three Directors (or such larger minimum number as may be required from time to time
 by the Designated Stock Exchange Rules). The majority of the committee members on each of
 the compensation committee and nominating and corporate governance committee shall be Independent
 Directors. The audit committee shall be made up of such number of Independent Directors as
 required from time to time by the Designated Stock Exchange Rules or otherwise required by
 applicable law.

**Local boards**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.6 The Board
 may establish any local or divisional board or agency for managing any of the affairs of
 the Company whether in the Cayman Islands or elsewhere and may appoint any persons to be
 members of a local or divisional Board, or to be managers or agents, and may fix their remuneration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.7 The Board
 may delegate to any local or divisional board, manager or agent any of its powers and authorities
 (with power to sub-delegate) and may authorise the members of any local or divisional board
 or any of them to fill any vacancies and to act notwithstanding vacancies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.8 Any appointment
 or delegation under this Article 17.8 may be made on such terms and subject to such conditions
 as the Board thinks fit and the Board may remove any person so appointed, and may revoke
 or vary any delegation.

**Power to appoint an agent of the Company**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.9 The Directors
 may appoint any person, either generally or in respect of any specific matter, to be the
 agent of the Company with or without authority for that person to delegate all or any of
 that person's powers. The Directors may make that appointment:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by causing
 the Company to enter into a power of attorney or agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in any
 other manner they determine.

**Power to appoint an attorney or authorised signatory of the Company**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.10 The Directors
 may appoint any person, whether nominated directly or indirectly by the Directors, to be
 the attorney or the authorised signatory of the Company. The appointment may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for
 any purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 the powers, authorities and discretions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for
 the period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) subject
 to such conditions

as they think fit. The powers, authorities and discretions, however, must not exceed those vested in, or exercisable, by the Directors under these Articles. The Directors may do so by power of attorney or any other manner they think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.11 Any power
 of attorney or other appointment may contain such provision for the protection and convenience
 for persons dealing with the attorney or authorised signatory as the Directors think fit.
 Any power of attorney or other appointment may also authorise the attorney or authorised
 signatory to delegate all or any of the powers, authorities and discretions vested in that
 person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.12 The Board
 may remove any person appointed under Article 17.10 and may revoke or vary the delegation.

**Borrowing Powers**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.13 The Directors
 may exercise all the powers of the Company to borrow money and to mortgage or charge its
 undertaking, property and assets both present and future and uncalled capital, or any part
 thereof, and to issue debentures and other securities, whether outright or as collateral
 security for any debt, liability or obligation of the Company or its parent undertaking (if
 any) or any subsidiary undertaking of the Company or of any third party.

**Corporate Governance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.14 The Board
 may, from time to time, and except as required by applicable law or the Designated Stock
 Exchange Rules, adopt, institute, amend, modify or revoke the corporate governance policies
 or initiatives of the Company, which shall be intended to set forth the guiding principles
 and policies of the Company and the Board on various corporate governance related matters
 as the Board shall determine by resolution from time to time.

18 Meetings of Directors

**Regulation of Directors' meetings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1 Subject to
 the provisions of these Articles, the Directors may regulate their proceedings as they think
 fit.

**Calling meetings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.2 Any Director
 may call a meeting of Directors at any time. The Secretary must call a meeting of the Directors
 if requested to do so by a Director.

**Notice of meetings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.3 Notice of
 a Board meeting may be given to a Director personally or by word of mouth or given in writing
 or by Electronic communications at such address as he may from time to time specify for this
 purpose (or, if he does not specify an address, at his last known address). A Director may
 waive his right to receive notice of any meeting either prospectively or retrospectively.

**Use of technology**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.4 A Director
 may participate in a meeting of Directors through the medium of conference telephone, video
 or any other form of communications equipment providing all persons participating in the
 meeting are able to hear and speak to each other throughout the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.5 A Director
 participating in this way is deemed to be present in person at the meeting.

**Quorum**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.6 The quorum
 for the transaction of business at a meeting of Directors shall be two unless the Directors
 fix some other number.

**Chairman or deputy to preside**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.7 The Board
 may appoint a chairman and one or more deputy chairman or chairmen and may at any time revoke
 any such appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.8 The chairman,
 or failing him any deputy chairman (the longest in office taking precedence if more than
 one is present), shall preside at all Board meetings. If no chairman or deputy chairman has
 been appointed, or if he is not present within five minutes after the time fixed for holding
 the meeting, or is unwilling to act as chairman of the meeting, the Directors present shall
 choose one of their number to act as chairman of the meeting.

**Voting**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.9 A question
 which arises at a Board meeting shall be decided by a majority of votes. If votes are equal
 the chairman may, if he wishes, exercise a casting vote.

**Recording of dissent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.10 A Director
 present at a meeting of Directors shall be presumed to have assented to any action taken
 at that meeting unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) his
 dissent is entered in the minutes of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) he has
 filed with the meeting before it is concluded signed dissent from that action; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) he has
 forwarded to the Company as soon as practical following the conclusion of that meeting signed
 dissent.

A Director who votes in favour of an action is not entitled to record his dissent to it.

**Written resolutions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.11 The Directors
 may pass a resolution in writing without holding a meeting if all Directors sign a document
 or sign several documents in the like form each signed by one or more of those Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.12 A written
 resolution signed by a validly appointed alternate Director need not also be signed by the
 appointing Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.13 A written
 resolution signed personally by the appointing Director need not also be signed by his alternate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.14 A resolution
 in writing passed pursuant to Article 18.11, Article 18.12 and/or Article 18.13 shall be
 as effective as if it had been passed at a meeting of the Directors duly convened and held;
 and it shall be treated as having been passed on the day and at the time that the last Director
 signs (and for the avoidance of doubt, such day may or may not be a Business Day).

**Validity of acts of Directors in spite of formal defect**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.15 All acts
 done by a meeting of the Board, or of a committee of the Board, or by any person acting as
 a Director or an alternate Director, shall, notwithstanding that it is afterwards discovered
 that there was some defect in the appointment of any Director or alternate Director or member
 of the committee, or that any of them were disqualified or had vacated office or were not
 entitled to vote, be as valid as if every such person had been duly appointed and qualified
 and had continued to be a Director or alternate Director and had been entitled to vote.

19 Permissible Directors' interests and disclosure

**Permissible interests subject to disclosure**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.1 Save as expressly
 permitted by these Articles or as set out below, a Director may not have a direct or indirect
 interest or duty which conflicts or may possibly conflict with the interests of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.2 If, notwithstanding
 the prohibition in the preceding Article, a Director discloses to their fellow Directors
 the nature and extent of any material interest or duty in accordance with the next Article,
 he may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) be a
 party to, or otherwise interested in, any transaction or arrangement with the Company or
 in which the Company is or may otherwise be interested; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be interested
 in another body corporate promoted by the Company or in which the Company is otherwise interested.
 In particular, the Director may be a Director, secretary or officer of, or employed by, or
 be a party to any transaction or arrangement with, or otherwise interested in, that other
 body corporate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.3 Such disclosure
 may be made at a meeting of the board or otherwise (and, if otherwise, it must be made in
 writing). The Director must disclose the nature and extent of his direct or indirect interest
 in or duty in relation to a transaction or arrangement or series of transactions or arrangements
 with the Company or in which the Company has any material interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.4 If a Director
 has made disclosure in accordance with the preceding Article, then they shall not, by reason
 only of their office, be accountable to the Company for any benefit that he derives from
 any such transaction or arrangement or from any such office or employment or from any interest
 in any such body corporate, and no such transaction or arrangement shall be liable to be
 avoided on the ground of any such interest or benefit.

**Notification of interests**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.5 For the purposes
 of the preceding Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a general
 notice that a Director gives to the other directors that he is to be regarded as having an
 interest of the nature and extent specified in the notice in any transaction or arrangement
 in which a specified person or class of persons is interested shall be deemed to be a disclosure
 that he has an interest in or duty in relation to any such transaction of the nature and
 extent so specified; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) an interest
 of which a director has no knowledge and of which it is unreasonable to expect him to have
 knowledge shall not be treated as an interest of his.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.6 A Director
 shall not be treated as having an interest in a transaction or arrangement if he has no knowledge
 of that interest and it is unreasonable to expect the director to have that knowledge.

**Voting where a Director is interested in a matter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.7 A Director
 may vote at a meeting of directors on any resolution concerning a matter in which that Director
 has an interest or duty, whether directly or indirectly, so long as that director discloses
 any material interest pursuant to these Articles. The Director shall be counted towards a
 quorum of those present at the meeting. If the Director votes on the resolution, his vote
 shall be counted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.8 Where proposals
 are under consideration concerning the appointment of two or more Directors to offices or
 employment with the Company or any body corporate in which the Company is interested, the
 proposals may be divided and considered in relation to each Director separately and each
 of the directors concerned shall be entitled to vote and be counted in the quorum in respect
 of each resolution except that concerning his or her own appointment.

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| 20 | Minutes |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1 The Company
 shall cause minutes to be made in books of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 appointments of Officers and committees made by the Board and of any such Officer's
 remuneration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of Directors present at every meeting of the Directors, a committee of the Board, the
 Company or the holders of any class of shares or debentures, and all orders, resolutions
 and proceedings of such meetings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2 Any such
 minutes, if purporting to be signed by the chairman of the meeting at which the proceedings
 were held or by the chairman of the next succeeding meeting or the Secretary, shall be prima
 facie evidence of the matters stated in them.

21 Accounts and audit

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1 The Directors
 must ensure that proper accounting and other records are kept, and that accounts and associated
 reports are distributed in accordance with the requirements of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2 The books
 of account shall be kept at the registered office of the Company and shall always be open
 to inspection by the Directors. No Member (other than a Director) shall have any right of
 inspecting any account or book or document of the Company except as conferred by the Act
 or as authorised by the Directors or by Ordinary Resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.3 Unless the
 Directors otherwise prescribe, the financial year of the Company shall end on 31 December
 in each year and begin on 1 January in each year.

**Auditors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.4 The Directors
 may appoint an Auditor of the Company who shall hold office on such terms as the Directors
 determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.5 At any general
 meeting convened and held at any time in accordance with these Articles, the Members may,
 by Ordinary Resolution, remove the Auditor before the expiration of his term of office. If
 they do so, the Members shall, by Ordinary Resolution, at that meeting appoint another Auditor
 in his stead for the remainder of his term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.6 The Auditors
 shall examine such books, accounts and vouchers; as may be necessary for the performance
 of their duties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.7 The Auditors
 shall, if so requested 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 Company.

22 Record dates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.1 Except to
 the extent of any conflicting rights attached to Shares, the resolution declaring a dividend
 on Shares of any class, whether it be an Ordinary Resolution of the Members or a Director's
 resolution, may specify that the dividend is payable or distributable to the persons registered
 as the holders of those Shares at the close of business on a particular date, notwithstanding
 that the date may be a date prior to that on which the resolution is passed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.2 If the resolution
 does so specify, the dividend shall be payable or distributable to the persons registered
 as the holders of those Shares at the close of business on the specified date in accordance
 with their respective holdings so registered, but without prejudice to the rights *inter se* in respect of the dividend of transferors and transferees of any of those Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.3 The provisions
 of this Article apply, *mutatis mutandis*, to bonuses, capitalisation issues, distributions
 of realised capital profits or offers or grants made by the Company to the Members.

23 Dividends

**Source of dividends**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1 Dividends
 may be declared and paid out of any funds of the Company lawfully available for distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.2 Subject to
 the requirements of the Act regarding the application of a company's Share premium
 account and with the sanction of an Ordinary Resolution, dividends may also be declared and
 paid out of any share premium account.

**Declaration of dividends by Members**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.3 Subject to
 the provisions of the Act, the Company may by Ordinary Resolution declare dividends in accordance
 with the respective rights of the Members but no dividend shall exceed the amount recommended
 by the Directors.

**Payment of interim dividends and declaration of final dividends by Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.4 The Directors
 may declare and pay interim dividends or recommend final dividends in accordance with the
 respective rights of the Members if it appears to them that they are justified by the financial
 position of the Company and that such dividends may lawfully be paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.5 Subject to
 the provisions of the Act, in relation to the distinction between interim dividends and final
 dividends, the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon
 determination to pay a dividend or dividends described as interim by the Directors in the

 is made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon
 declaration of a dividend or dividends described as final by the Directors in the dividend
 resolution, a debt shall be created immediately following the declaration, the due date to
 be the date the dividend is stated to be payable in the resolution.

If the resolution fails to specify whether a dividend is final or interim, it shall be assumed to be interim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.6 In relation
 to Shares carrying differing rights to dividends or rights to dividends at a fixed rate,
 the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the
 share capital is divided into different classes, the Directors may pay dividends on Shares
 which confer deferred or non-preferred rights with regard to dividends as well as on Shares
 which confer preferential rights with regard to dividends but no dividend shall be paid on
 Shares carrying deferred or non-preferred rights if, at the time of payment, any preferential
 dividend is in arrears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors may also pay, at intervals settled by them, any dividend payable at a fixed rate
 if it appears to them that there are sufficient funds of the Company lawfully available for
 distribution to justify the payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the
 Directors act in good faith, they shall not incur any liability to the Members holding Shares
 conferring preferred rights for any loss those Members may suffer by the lawful payment of
 the dividend on any Shares having deferred or non-preferred rights.

**Apportionment of dividends**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.7 Except as
 otherwise provided by the rights attached to Shares all dividends shall be declared and paid
 according to the amounts Paid Up on the Shares on which the dividend is paid. All dividends
 shall be apportioned and paid proportionately to the amount Paid Up on the Shares during
 the time or part of the time in respect of which the dividend is paid. But if a Share is
 issued on terms providing that it shall rank for dividend as from a particular date, that
 Share shall rank for dividend accordingly.

**Right of set off**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.8 The Directors
 may deduct from a dividend or any other amount payable to a person in respect of a Share
 any amount due by that person to the Company on a call or otherwise in relation to a Share.

**Power to pay other than in cash**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.9 If the Directors
 so determine, any resolution declaring a dividend may direct that it shall be satisfied wholly
 or partly by the distribution of assets. If a difficulty arises in relation to the distribution,
 the Directors may settle that difficulty in any way they consider appropriate. For example,
 they may do any one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 fractional Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) fix
 the value of assets for distribution and make cash payments to some Members on the footing
 of the value so fixed in order to adjust the rights of Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vest
 some assets in trustees.

**How payments may be made**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.10 A dividend
 or other monies payable on or in respect of a Share may be paid in any of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the
 Member holding that Share or other person entitled to that Share nominates a bank account
 for that purpose - by wire transfer to that bank account; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by cheque
 or warrant sent by post to the registered address of the Member holding that Share or other
 person entitled to that Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.11 For the
 purposes of Article 23.10(a), the nomination may be in writing or in an Electronic Record
 and the bank account nominated may be the bank account of another person. For the purposes
 of Article 23.10(b), subject to any applicable law or regulation, the cheque or warrant shall
 be made to the order of the Member holding that Share or other person entitled to the Share
 or to his nominee, whether nominated in writing or in an Electronic Record, and payment of
 the cheque or warrant shall be a good discharge to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.12 If two or
 more persons are registered as the holders of the Share or are jointly entitled to it by
 reason of the death or bankruptcy of the registered holder (**Joint Holders**), a dividend
 (or other amount) payable on or in respect of that Share may be paid as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to the
 registered address of the Joint Holder of the Share who is named first on the register of
 Members or to the registered address of the deceased or bankrupt holder, as the case may
 be; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to the
 address or bank account of another person nominated by the Joint Holders, whether that nomination
 is in writing or in an Electronic Record.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.13 Any Joint
 Holder of a Share may give a valid receipt for a dividend (or other amount) payable in respect
 of that Share.

**Dividends or other monies not to bear interest in absence of special rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.14 Unless provided
 for by the rights attached to a Share, no dividend or other monies payable by the Company
 in respect of a Share shall bear interest.

**Dividends unable to be paid or unclaimed**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.15 If a dividend
 cannot be paid to a Member or remains unclaimed within six weeks after it was declared or
 both, the Directors may pay it into a separate account in the Company's name. If a
 dividend is paid into a separate account, the Company shall not be constituted trustee in
 respect of that account and the dividend shall remain a debt due to the Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.16 A dividend
 that remains unclaimed for a period of six years after it became due for payment shall be
 forfeited to, and shall cease to remain owing by, the Company.

24 Capitalisation of profits

**Capitalisation of profits or of any share premium account or capital redemption reserve;**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.1 The Directors
 may resolve to capitalise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 part of the Company's profits not required for paying any preferential dividend (whether
 or not those profits are available for distribution); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 sum standing to the credit of the Company's share premium account or capital redemption
 reserve, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.2 The amount
 resolved to be capitalised must be appropriated to the Members who would have been entitled
 to it had it been distributed by way of dividend and in the same proportions. The benefit
 to each Member so entitled must be given in either or both of the following ways::

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by paying
 up the amounts unpaid on that Member's Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by issuing
 Fully Paid Up Shares, debentures or other securities of the Company to that Member or as
 that Member directs. The Directors may resolve that any Shares issued to the Member in respect
 of Partly Paid Up Shares (**Original Shares**) rank for dividend only to the extent that
 the Original Shares rank for dividend while those Original Shares remain Partly Paid Up.

**Applying an amount for the benefit of Members**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.3 The amount
 capitalised must be applied to the benefit of Members in the proportions to which the Members
 would have been entitled to dividends if the amount capitalised had been distributed as a
 dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.4 Subject to
 the Act, if a fraction of a Share, a debenture or other security is allocated to a Member,
 the Directors may issue a fractional certificate to that Member or pay him the cash equivalent
 of the fraction.

25 Share Premium Account

**Directors to maintain share premium account**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.1 The Directors
 shall establish a share premium account in accordance with the Act. They shall carry to the
 credit of that account from time to time an amount equal to the amount or value of the premium
 paid on the issue of any Share or capital contributed or such other amounts required by the
 Act.

**Debits to share premium account**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.2 The following
 amounts shall be debited to any share premium account:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) on the
 redemption or purchase of a Share, the difference between the nominal value of that Share
 and the redemption or purchase price; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 other amount paid out of a share premium account as permitted by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.3 Notwithstanding
 the preceding Article, on the redemption or purchase of a Share, the Directors may pay the
 difference between the nominal value of that Share and the redemption purchase price out
 of the profits of the Company or, as permitted by the Act, out of capital.

---

| | |
|:---|:---|
| 26 | Seal |

---

**Company seal**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.1 The Company
 may have a seal if the Directors so determine.

**Duplicate seal**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.2 Subject to
 the provisions of the Act, the Company may also have a duplicate seal or seals for use in
 any place or places outside the Cayman Islands. Each duplicate seal shall be a facsimile
 of the original seal of the Company. However, if the Directors so determine, a duplicate
 seal shall have added on its face the name of the place where it is to be used.

**When and how seal is to be used**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.3 A seal may
 only be used by the authority of the Directors. Unless the Directors otherwise determine,
 a document to which a seal is affixed must be signed in one of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by a
 Director (or his alternate) and the Secretary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by a
 single Director (or his alternate).

**If no seal is adopted or used**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.4 If the Directors
 do not adopt a seal, or a seal is not used, a document may be executed in the following manner:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by a
 Director (or his alternate) and the Secretary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by a
 single Director (or his alternate); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in any
 other manner permitted by the Act.

**Power to allow non-manual signatures and facsimile printing of seal**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.5 The Directors
 may determine that either or both of the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 the seal or a duplicate seal need not be affixed manually but may be affixed by some other
 method or system of reproduction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 a signature required by these Articles need not be manual but may be a mechanical or Electronic
 Signature.

**Validity of execution**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.6 If a document
 is duly executed and delivered by or on behalf of the Company, it shall not be regarded as
 invalid merely because, at the date of the delivery, the Secretary, or the Director, or other
 Officer or person who signed the document or affixed the seal for and on behalf of the Company
 ceased to be the Secretary or hold that office and authority on behalf of the Company.

27 Indemnity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.1 To the extent
 permitted by law, the Company shall indemnify each existing or former Director (including
 alternate Director), Secretary and other Officer of the Company (including an investment
 adviser or an administrator or liquidator) and their personal representatives against:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or
 sustained by the existing or former Director (including alternate Director), Secretary or
 Officer in or about the conduct of the Company's business or affairs or in the execution
 or discharge of the existing or former Director's (including alternate Director's),
 Secretary's or Officer's duties, powers, authorities or discretions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 limitation to paragraph (a), all costs, expenses, losses or liabilities incurred by the existing
 or former Director (including alternate Director), Secretary or Officer in defending (whether
 successfully or otherwise) any civil, criminal, administrative or investigative proceedings
 (whether threatened, pending or completed) concerning the Company or its affairs in any court
 or tribunal, whether in the Cayman Islands or elsewhere.

No such existing or former Director (including alternate Director), Secretary or Officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty, wilful default or fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.2 To the extent
 permitted by Act, the Company may make a payment, or agree to make a payment, whether by
 way of advance, loan or otherwise, for any legal costs incurred by an existing or former
 Director (including alternate Director), Secretary or Officer of the Company in respect of
 any matter identified in Article 27.1 on condition that the Director (including alternate
 Director), Secretary or Officer must repay the amount paid by the Company to the extent that
 it is ultimately found not liable to indemnify the Director (including alternate Director),
 Secretary or that Officer for those legal costs.

**Release**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.3 To the extent
 permitted by Act, the Company may by Special Resolution release any existing or former Director
 (including alternate Director), Secretary or other Officer of the Company from liability
 for any loss or damage or right to compensation which may arise out of or in connection with
 the execution or discharge of the duties, powers, authorities or discretions of his office;
 but there may be no release from liability arising out of or in connection with that person's
 own dishonesty.

**Insurance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.4 To the extent
 permitted by Act, the Company may pay, or agree to pay, a premium in respect of a contract
 insuring each of the following persons against risks determined by the Directors, other than
 liability arising out of that person's own dishonesty:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an existing
 or former Director (including alternate Director), Secretary or Officer or auditor of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a company
 which is or was a subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a company
 in which the Company has or had an interest (whether direct or indirect); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a trustee
 of an employee or retirement benefits scheme or other trust in which any of the persons referred
 to in paragraph (a) is or was interested.

---

| | |
|:---|:---|
| 28 | Notices |

---

**Form of notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.1 Save where
 these Articles provide otherwise, and subject to the Designated Stock Exchange Rules, any
 notice to be given to or by any person pursuant to these Articles shall be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in writing
 signed by or on behalf of the giver in the manner set out below for written notices; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject
 to the next Article, in an Electronic Record signed by or on behalf of the giver by Electronic
 Signature and authenticated in accordance with Articles about authentication of Electronic
 Records; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 these Articles expressly permit, by the Company by means of a website.

**Electronic communications**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.2 A notice
 may only be given to the Company in an Electronic Record if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Directors so resolve or otherwise accept the notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 Director or Officer provides the giver of the notice an electronic address to which the notice
 may be sent and a notice is sent to that address within a reasonable period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.3 A notice
 may not be given by Electronic Record to a person other than the Company unless the recipient
 has provided the giver of the notice an electronic address to which notice may be sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.4 Subject to
 the Act, the Designated Stock Exchange Rules and to any other rules which the Company is
 bound to follow, the Company may also send any notice or other document pursuant to these
 Articles to a Member by publishing that notice or other document on a website where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company and the Member have agreed to his having access to the notice or document on a website
 (instead of it being sent to him);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 notice or document is one to which that agreement applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Member is notified (in accordance with any requirements laid down by the Act and, in a manner
 for the time being agreed between him and the Company for the purpose) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the publication
 of the notice or document on a website;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the address
 of that website; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 place on that website where the notice or document may be accessed, and how it may be accessed;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 notice or document is published on that website throughout the publication period, provided
 that, if the notice or document is published on that website for a part, but not all of,
 the publication period, the notice or document shall be treated as being published throughout
 that period if the failure to publish that notice of document throughout that period is wholly
 attributable to circumstances which it would not be reasonable to have expected the Company
 to prevent or avoid. For the purposes of this Article 28.4 "publication period"
 means a period of not less than twenty-one days, beginning on the day on which the notification
 referred to in Article 28.4(c) is deemed sent.

**Persons entitled to notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.5 Any notice
 or other document to be given to a Member may be given by reference to the register of Members
 as it stands at any time within the period of twenty-one days before the day that the notice
 is given or (where and as applicable) within any other period permitted by, or in accordance
 with the requirements of, (to the extent applicable) the Designated Stock Exchange Rules
 and/or the Designated Stock Exchanges. No change in the register of Members after that time
 shall invalidate the giving of such notice or document or require the Company to give such
 item to any other person.

**Persons authorised to give notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.6 A notice
 by either the Company or a Member pursuant to these Articles may be given on behalf of the
 Company or a Member by a Director or company secretary of the Company or a Member.

**Delivery of written notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.7 Save where
 these Articles provide otherwise, a notice in writing may be given personally to the recipient,
 or left at (as appropriate) the Member's or Director's registered address or
 the Company's registered office, or posted to that registered address or registered
 office.

**Joint holders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.8 Where Members
 are joint holders of a Share, all notices shall be given to the Member whose name first appears
 in the register of Members.

**Signatures**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.9 A written
 notice shall be signed when it is autographed by or on behalf of the giver, or is marked
 in such a way as to indicate its execution or adoption by the giver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.10 An Electronic
 Record may be signed by an Electronic Signature.

**Evidence of transmission**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.11 A notice
 given by Electronic Record shall be deemed sent if an Electronic Record is kept demonstrating
 the time, date and content of the transmission, and if no notification of failure to transmit
 is received by the giver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.12 A notice
 given in writing shall be deemed sent if the giver can provide proof that the envelope containing
 the notice was properly addressed, pre-paid and posted, or that the written notice was otherwise
 properly transmitted to the recipient.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.13 A Member
 present, either in person or by proxy, at any meeting of the Company or of the holders of
 any class of Shares shall be deemed to have received due notice of the meeting and, where
 requisite, of the purposes for which it was called.

**Giving notice to a deceased or bankrupt Member**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.14 A notice
 may be given by the Company to the persons entitled to a Share in consequence of the death
 or bankruptcy of a Member by sending or delivering it, in any manner authorised by these
 Articles for the giving of notice to a Member, addressed to them by name, or by the title
 of representatives of the deceased, or trustee of the bankrupt or by any like description,
 at the address, if any, supplied for that purpose by the persons claiming to be so entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.15 Until such
 an address has been supplied, a notice may be given in any manner in which it might have
 been given if the death or bankruptcy had not occurred.

**Date of giving notices**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.16 A notice
 is given on the date identified in the following table

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Method for giving notices** | &nbsp;&nbsp;**When taken to be given** |
| &nbsp;&nbsp;(A) Personally | &nbsp;&nbsp;At the time and date of delivery |
| &nbsp;&nbsp;(B) By leaving it at the Member's registered address | &nbsp;&nbsp;At the time and date it was left |
| &nbsp;&nbsp;(C) By posting it by prepaid post to the street or postal address of that recipient | &nbsp;&nbsp;48 hours after the date it was posted |
| &nbsp;&nbsp;(D) By Electronic Record (other than publication on a website), to recipient's Electronic address | &nbsp;&nbsp;48 hours after the date it was sent |
| &nbsp;&nbsp;(E) By publication on a website | &nbsp;&nbsp;24 hours after the date on which the Member is deemed to have been notified of the publication of the notice or document on the website |

---

**Saving provision**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.17 None of
 the preceding notice provisions shall derogate from the Articles about the delivery of written
 resolutions of Directors and written resolutions of Members.

29 Authentication of Electronic Records

**Application of Articles**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.1 Without limitation
 to any other provision of these Articles, any notice, written resolution or other document
 under these Articles that is sent by Electronic means by a Member, or by the Secretary, or
 by a Director or other Officer of the Company, shall be deemed to be authentic if either
 Article 29.2 or Article 29.4 applies.

**Authentication of documents sent by Members by Electronic means**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.2 An Electronic
 Record of a notice, written resolution or other document sent by Electronic means by or on
 behalf of one or more Members shall be deemed to be authentic if the following conditions
 are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Member or each Member, as the case may be, signed the original document, and for this purpose **Original Document** includes several documents in like form signed by one or more of
 those Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Electronic Record of the Original Document was sent by Electronic means by, or at the direction
 of, that Member to an address specified in accordance with these Articles for the purpose
 for which it was sent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Article
 29.7 does not apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.3 For example,
 where a sole Member signs a resolution and sends the Electronic Record of the original resolution,
 or causes it to be sent, by facsimile transmission to the address in these Articles specified
 for that purpose, the facsimile copy shall be deemed to be the written resolution of that
 Member unless Article 28.7 applies.

**Authentication of document sent by the Secretary or Officers of the Company by Electronic means**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.4 An Electronic
 Record of a notice, written resolution or other document sent by or on behalf of the Secretary
 or an Officer or Officers of the Company shall be deemed to be authentic if the following
 conditions are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Secretary or the Officer or each Officer, as the case may be, signed the original document,
 and for this purpose **Original Document** includes several documents in like form signed
 by the Secretary or one or more of those Officers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Electronic Record of the Original Document was sent by Electronic means by, or at the direction
 of, the Secretary or that Officer to an address specified in accordance with these Articles
 for the purpose for which it was sent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Article
 29.7 does not apply.

This Article 29.4 applies whether the document is sent by or on behalf of the Secretary or Officer in his own right or as a representative of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.5 For example,
 where a sole Director signs a resolution and scans the resolution, or causes it to be scanned,
 as a PDF version which is attached to an email sent to the address in these Articles specified
 for that purpose, the PDF version shall be deemed to be the written resolution of that Director
 unless Article 29.7 applies.

**Manner of signing**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.6 For the purposes
 of these Articles about the authentication of Electronic Records, a document will be taken
 to be signed if it is signed manually or in any other manner permitted by these Articles.

**Saving provision**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.7 A notice,
 written resolution or other document under these Articles will not be deemed to be authentic
 if the recipient, acting reasonably:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) believes
 that the signature of the signatory has been altered after the signatory had signed the original
 document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) believes
 that the original document, or the Electronic Record of it, was altered, without the approval
 of the signatory, after the signatory signed the original document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) otherwise
 doubts the authenticity of the Electronic Record of the document

and the recipient promptly gives notice to the sender setting the grounds of its objection. If the recipient invokes this Article, the sender may seek to establish the authenticity of the Electronic Record in any way the sender thinks fit.

30 Transfer by way of continuation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.1 The
 Company may, by Special Resolution, resolve to be registered by way of continuation in a
 jurisdiction outside:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Cayman Islands; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such
 other jurisdiction in which it is, for the time being, incorporated, registered or existing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.2 To
 give effect to any resolution made pursuant to the preceding Article, the Directors may cause
 the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an
 application be made to the Registrar of Companies of the Cayman Islands to deregister the
 Company in the Cayman Islands or in the other jurisdiction in which it is for the time being
 incorporated, registered or existing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 such further steps as they consider appropriate to be taken to effect the transfer by way
 of continuation of the Company.

31 Winding up

**Distribution of assets in specie**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.1 If the Company
 is wound up the Members may, subject to these Articles and any other sanction required by
 the Act, pass a Special Resolution allowing the liquidator to do either or both of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to divide
 in specie among the Members the whole or any part of the assets of the Company and, for that
 purpose, to value any assets and to determine how the division shall be carried out as between
 the Members or different classes of Members; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to vest
 the whole or any part of the assets in trustees for the benefit of Members and those liable
 to contribute to the winding up.

**No obligation to accept liability**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.2 No Member
 shall be compelled to accept any assets if an obligation attaches to them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.3 The Directors
 are authorised to present a winding up petition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31.4 The Directors
 have the authority to present a petition for the winding up of the Company to the Grand Court
 of the Cayman Islands on behalf of the Company without the sanction of a resolution passed
 at a general meeting.

32 Amendment of Memorandum and Articles

**Power to change name or amend Memorandum**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.1 Subject to
 the Act, the Company may, by Special Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) change
 its name; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) change
 the provisions of its Memorandum with respect to its objects, powers or any other matter
 specified in the Memorandum.

**Power to amend these Articles**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.2 Subject to
 the Act and as provided in these Articles, the Company may, by Special Resolution, amend
 these Articles in whole or in part.

## Exhibit 99.2

**EXHIBIT 99.2**

![](image_001.jpg)

![](image_002.jpg)