# EDGAR Filing Document

**Accession Number:** 0001980210
**File Stem:** 0001213900-26-073791
**Filing Date:** 2026-6
**Character Count:** 215866
**Document Hash:** 1da23eea8a6255ac2fea67bbcd3c5451
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-073791.hdr.sgml**: 20260630

**ACCESSION NUMBER**: 0001213900-26-073791

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20260630

**FILED AS OF DATE**: 20260630

**DATE AS OF CHANGE**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WF Holding Ltd
- **CENTRAL INDEX KEY:** 0001980210
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
- **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:** 001-42566
- **FILM NUMBER:** 261141425

**BUSINESS ADDRESS:**
- **STREET 1:** NO. 3893, JALAN 4D
- **STREET 2:** KAMPUNG BARU SUBANG
- **CITY:** SHAH ALAM, SELANGOR
- **STATE:** N8
- **ZIP:** 40150
- **BUSINESS PHONE:** 60 3 7847 1828

**MAIL ADDRESS:**
- **STREET 1:** NO. 3893, JALAN 4D
- **STREET 2:** KAMPUNG BARU SUBANG
- **CITY:** SHAH ALAM, SELANGOR
- **STATE:** N8
- **ZIP:** 40150

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

**FORM 6-K**

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

For the month of: **June 2026**

Commission File Number: **001-42566** 

**WF HOLDING LIMITED**<br> (Translation of registrant's name into English)

**Lot 3893, Jalan 4D**

**Kg. Baru Subang** 

**Seksyen U6, 40150 Shah Alam, Selangor, Malaysia<br> 60-378471828**<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 ☐

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
| Date: June 30, 2026 | WF HOLDING LIMITED | WF HOLDING LIMITED |
|  | /s/ Leah Siang Ling | /s/ Leah Siang Ling |
|  | Name: | Leah Siang Ling |
|  | Title: | Co-Chief Executive Officer |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| 99.1 | [Notice of Extraordinary General Meeting of Members and Proxy Statement](ea029644501ex99-1.htm) |
| 99.2 | [Form of Proxy Card](ea029644501ex99-2.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

**WF Holding Limited**

**Lot 3893, Jalan 4D**

**Kg. Baru Subang** 

**Seksyen U6, 40150 Shah Alam**

**Selangor, Malaysia**

**NOTICE OF EXTRAORDINARY MEETING OF MEMBERS**

**TO BE HELD ON JULY 10, 2026**

**NOTICE IS HEREBY GIVEN** that you are cordially invited to attend an extraordinary general meeting (the "**Extraordinary Meeting**") of shareholders of WF Holding Limited, a Cayman Islands exempted company with limited liability (the "**Company**," "**we**," "**us**" or "**our**") to be held on Friday, July 10, 2026, at 10:00 a.m., local time, at Lot 3893, Jalan 4D, Kg. Baru Subang, Seksyen U6, 40150 Shah Alam, Selangor, Malaysia to consider and if thought fit, to pass with or without amendment the following resolutions:

**Proposal 1:** 

By an ordinary resolution, to approve the increase of the authorized share capital of the Company from USD50,000 divided into 200,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each by the creation of additional 99,999,800,000,000 Ordinary Shares (the "**Increase of Authorised Share Capital**").

**Proposal 2:**

By an ordinary resolution, to approve the creation of a new class of Class A shares with USD0.00025 par value each in the authorized share capital of the Company (the "**Class A Shares**") with each Class A Share entitling the holder thereof 100 votes and being convertible into 1 Ordinary Share at the option of the holder thereof, at any time after issue and without the payment of any additional sum; and upon transfer to a party who is not an Affiliate (as defined in the Amended M&A (as defined below)), each Class A Share shall be automatically converted into 1 Ordinary Share (the "**Creation of Class A Shares**"); and each Ordinary Share shall continue to carry 1 vote per share.

**Proposal 3:**

By an ordinary resolution, subject to and conditional upon the approval for the Increase of Authorised Share Capital and the Creation of Class A Shares above, to approve the redesignation and reclassification of the authorized share capital of the Company from USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 90,000,000,000,000 Ordinary Shares with USD0.00025 par value each and 10,000,000,000,000 Class A Shares with USD0.00025 par value each by redesignating 10,000,000,000,000 Ordinary Shares, comprising 3,170,664 issued Ordinary Shares held by LEW CAPITAL PRIVATE LIMITED, 270,000 issued Ordinary Shares held by LYC CAPITAL PRIVATE LIMITED and 9,999,996,559,336 unissued Ordinary Shares, into Class A Shares on a one-for-one basis (the "**Share Redesignation**", together with the Increase of Authorised Share Capital and the Creation of Class A Shares above, the "**Share Restructuring**").

**Proposal 4:**

By a special resolution, subject to and conditional upon the approval for the Share Restructuring above (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), to approve and adopt the second amended and restated memorandum and articles of association of the Company (the "**Amended M&A**") as set forth in <u>Appendix A</u> as the memorandum and articles of association of the Company, in substitution for and to the exclusion of the existing amended and restated memorandum and articles of association of the Company in its entirety with immediate effect to reflect, inter alias, the Share Restructuring.

**Proposal 5:**

By an ordinary resolution, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above, to authorize any one or more of the directors and officers of the Company to do all such acts and things and execute and deliver all such documents, which are ancillary to the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation) and the adoption of the Amended M&A, including but not limited to, making any relevant registrations and filings with any authorities in accordance with the applicable laws, rules and regulations, as any of them considers necessary, desirable or expedient to give effect to the foregoing resolutions; the registered office service provider of the Company be instructed to make all necessary filings with the Registrar of Companies of the Cayman Islands in connection with the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), the adoption of the Amended M&A and the passing of the foregoing resolutions; and the Company's transfer agent be instructed to update the shareholder list of the Company and that upon the surrender to the Company of the existing share certificates (if any) that they be cancelled and that any director of the Company be instructed to prepare, sign, seal and deliver on behalf of the Company new share certificates accordingly.

**Proposal 6:**

By ordinary resolutions, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above:

&nbsp;&nbsp;&nbsp;&nbsp;(i) to approve that the shareholder authorization (as approved at the extraordinary general meeting of the
Company held on 23 March 2026) authorizing the board of directors of the Company (the "**Board**") to implement one or more
share consolidations of the Company's issued and unissued ordinary shares of par value USD0.00005 each within 2 years at a ratio
as the Board may determine from time to time in its absolute discretion; provided that the accumulative consolidation ratio for all such
share consolidation(s) shall not be more than 1-for-250 (the "**Shareholder Authorization**") be revised, such that the Board
shall be authorized to approve one or more share consolidations of the Company's issued and unissued Ordinary Shares and Class A
Shares, each of a par value of USD0.00025 at a ratio and from an effective date that may be determined by the Board in its absolute discretion
within 2 years after the date of passing of these resolutions with such consolidated Ordinary Shares and Class A Shares being subject
to the rights and obligations as set out in the then effective memorandum and articles of association of the Company, provided that the
accumulative consolidation ratio for all such share consolidation(s) shall be no less than 2-for-1 nor greater than 8,000-for-1; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) to confirm and ratify the rest of the ordinary resolutions passed at the extraordinary general meeting
of the Company held on 23 March 2026 in connection with the Shareholder Authorization for share consolidation(s) (save for those amended
by these resolutions).

**Proposal 7:**

By an ordinary resolution, to authorize the chairman of the Extraordinary Meeting to adjourn the Extraordinary Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extraordinary Meeting, there are not sufficient votes to approve Proposal 1 to Proposal 6 above.

The Board reserves its right to determine not to proceed with, and abandon, the share consolidation contemplated in Proposal 6 above if it determines in its sole discretion that implementing the share consolidation is not in the best interests of the Company and its shareholders. As such, if the Board did not determine a ratio within the two-year period, the share consolidation would not proceed and will be abandoned.

The foregoing items of business are more fully described in the proxy statement accompanying this Notice. We are not aware of any other business to come before the Extraordinary Meeting.

The Board fixed 5:00 p.m., Eastern Time on June 29, 2026 as the record date for determining the shareholders entitled to receive notice of and to attend and vote at the Extraordinary Meeting or any adjourned or postponement thereof.

**It is important that your shares are represented at the Extraordinary Meeting. We urge you to review the attached Proxy Statement and, whether or not you plan to attend the Extraordinary Meeting in person, please vote your shares promptly.**

If you plan to attend the Extraordinary Meeting in person, please notify us of your intentions. This will assist us with meeting preparations. If your shares are not registered in your own name and you would like to attend the Extraordinary Meeting, please follow the instructions contained in the proxy materials that are being mailed to you and any other information forwarded to you by your broker, trust, bank, or other holder of record to obtain a valid proxy from it. This will enable you to gain admission to the Extraordinary Meeting and vote in person.

---

| | |
|:---|:---|
| June 30, 2026 | By Order of the Board of Directors, |
|  | */s/ Leah Siang Ling* |
|  | Leah Siang Ling |
|  | Co-Chief Executive Officer |

---

**IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR<br> THE EXTRAORDINARY MEETING OF MEMBERS TO BE HELD ON JULY 10, 2026**

This Notice and Proxy Statement are also available online at

https://www.iproxydirect.com/WFF

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **GENERAL INFORMATION** | **1** |
| &nbsp;&nbsp;&nbsp;Purpose of the Extraordinary Meeting | 1 |
| &nbsp;&nbsp;&nbsp;Shareholders Entitled to Vote at the Extraordinary Meeting | 2 |
| &nbsp;&nbsp;&nbsp;Quorum Requirement | 3 |
| &nbsp;&nbsp;&nbsp;Votes Required | 3 |
| &nbsp;&nbsp;&nbsp;Submission of Votes | 4 |
| &nbsp;&nbsp;&nbsp;Proxy Solicitation Costs | 4 |
| **PROPOSAL 1** | **5** |
| **APPROVE INCREASE OF AUTHORISED SHARE CAPITAL** | **5** |
| &nbsp;&nbsp;&nbsp;Proposal One – "RESOLVED as an ordinary resolution that the authorized share capital of the Company be and is hereby increased from USD50,000 divided into 200,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each by the creation of additional 99,999,800,000,000 Ordinary Shares (the "Increase of Authorised Share Capital")." | 5 |
| &nbsp;&nbsp;&nbsp;Vote Required | 5 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 5 |
| **PROPOSAL 2** | **5** |
| **APPROVE CREATION OF CLASS A SHARES** | **5** |
| &nbsp;&nbsp;&nbsp;Background | 5 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 5 |
| &nbsp;&nbsp;&nbsp;Required Vote | 5 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 6 |
| **PROPOSAL 3** | **6** |
| **APPROVE SHARE REDESIGNATION** | **6** |
| &nbsp;&nbsp;&nbsp;Background | 6 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 6 |
| &nbsp;&nbsp;&nbsp;Required Vote | 6 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 6 |
| **PROPOSAL 4** | **6** |
| **APPROVE AND ADOPT THE SECOND AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION** | **6** |
| &nbsp;&nbsp;&nbsp;Background | 6 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 6 |
| &nbsp;&nbsp;&nbsp;Required Vote | 7 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 7 |
| **PROPOSAL 5** | **7** |
| **APPROVE GENERAL AUTHORIZATION** | **7** |
| &nbsp;&nbsp;&nbsp;Background | 7 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 7 |
| &nbsp;&nbsp;&nbsp;Required Vote | 7 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 7 |
| **PROPOSAL 6** | **8** |
| **APPROVE REVISED TERMS OF SHAREHOLDER AUTHORIZATION FOR SHARE CONSOLIDATION(S)** | **8** |
| &nbsp;&nbsp;&nbsp;Background | 8 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 8 |
| &nbsp;&nbsp;&nbsp;Required Vote | 8 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 8 |
| **PROPOSAL 7** | **8** |
| **APPROVE ADJOURNMENT OF THE EXTRAORDINARY MEETING BY CHAIRMAN** | **8** |
| &nbsp;&nbsp;&nbsp;Background | 8 |
| &nbsp;&nbsp;&nbsp;Proposed Resolution | 8 |
| &nbsp;&nbsp;&nbsp;Required Vote | 8 |
| &nbsp;&nbsp;&nbsp;Recommendation of the Board | 8 |
| **ADDITIONAL INFORMATION** | **9** |
| &nbsp;&nbsp;&nbsp;Other Matters | 9 |
| &nbsp;&nbsp;&nbsp;Transfer Agent and Registrar | 9 |
| &nbsp;&nbsp;&nbsp;Where You can Find More Information | 9 |
| **Appendix A** | **10** |
| &nbsp;&nbsp;&nbsp;Form of Second Amended and Restated Memorandum and Articles of Association | 10 |

---

i

**WF Holding Limited**

**Lot 3893, Jalan 4D**

**Kg. Baru Subang** 

**Seksyen U6, 40150 Shah Alam**

**Selangor, Malaysia**

**PROXY STATEMENT**

This Proxy Statement and the accompanying proxy are being furnished with respect to the solicitation of proxies by the Board of Directors (the "**Board**") of WF Holding Limited, a Cayman Islands exempted company with limited liability (the "**Company**," "**we**," "**us**" or "**our**), for the Extraordinary General Meeting of Members (the "**Extraordinary Meeting**"). The Extraordinary Meeting is to be held on Friday, July 10, 2026, at 10:00 a.m., local time, at Lot 3893, Jalan 4D, Kg. Baru Subang, Seksyen U6, 40150 Shah Alam, Selangor, Malaysia.

We will send or make these proxy materials available to shareholders on or about July 1, 2026.

**GENERAL INFORMATION**

**Purpose of the Extraordinary Meeting**

The purposes of the Extraordinary Meeting are to seek shareholders' approval of the following resolutions:

**Proposal 1:** 

By an ordinary resolution, to approve the increase of the authorized share capital of the Company from USD50,000 divided into 200,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each by the creation of additional 99,999,800,000,000 Ordinary Shares (the "**Increase of Authorised Share Capital**").

**Proposal 2:**

By an ordinary resolution, to approve the creation of a new class of Class A shares with USD0.00025 par value each in the authorized share capital of the Company (the "**Class A Shares**") with each Class A Share entitling the holder thereof 100 votes and being convertible into 1 Ordinary Share at the option of the holder thereof, at any time after issue and without the payment of any additional sum; and upon transfer to a party who is not an Affiliate (as defined in the Amended M&A (as defined below)), each Class A Share shall be automatically converted into 1 Ordinary Share (the "**Creation of Class A Shares**"); and each Ordinary Share shall continue to carry 1 vote per share.

**Proposal 3:**

By an ordinary resolution, subject to and conditional upon the approval for the Increase of Authorised Share Capital and the Creation of Class A Shares above, to approve the redesignation and reclassification of the authorized share capital of the Company from USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 90,000,000,000,000 Ordinary Shares with USD0.00025 par value each and 10,000,000,000,000 Class A Shares with USD0.00025 par value each by redesignating 10,000,000,000,000 Ordinary Shares, comprising 3,170,664 issued Ordinary Shares held by LEW CAPITAL PRIVATE LIMITED, 270,000 issued Ordinary Shares held by LYC CAPITAL PRIVATE LIMITED and 9,999,996,559,336 unissued Ordinary Shares, into Class A Shares on a one-for-one basis (the "**Share Redesignation**", together with the Increase of Authorised Share Capital and the Creation of Class A Shares above, the "**Share Restructuring**").

**Proposal 4:**

By a special resolution, subject to and conditional upon the approval for the Share Restructuring above (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), to approve and adopt the second amended and restated memorandum and articles of association of the Company (the "**Amended M&A**") as set forth in <u>Appendix A</u> as the memorandum and articles of association of the Company, in substitution for and to the exclusion of the existing amended and restated memorandum and articles of association of the Company in its entirety with immediate effect to reflect, inter alias, the Share Restructuring.

**Proposal 5:**

By an ordinary resolution, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above, to authorize any one or more of the directors and officers of the Company to do all such acts and things and execute and deliver all such documents, which are ancillary to the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation) and the adoption of the Amended M&A, including but not limited to, making any relevant registrations and filings with any authorities in accordance with the applicable laws, rules and regulations, as any of them considers necessary, desirable or expedient to give effect to the foregoing resolutions; the registered office service provider of the Company be instructed to make all necessary filings with the Registrar of Companies of the Cayman Islands in connection with the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), the adoption of the Amended M&A and the passing of the foregoing resolutions; and the Company's transfer agent be instructed to update the shareholder list of the Company and that upon the surrender to the Company of the existing share certificates (if any) that they be cancelled and that any director of the Company be instructed to prepare, sign, seal and deliver on behalf of the Company new share certificates accordingly.

**Proposal 6:**

By ordinary resolutions, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above:

&nbsp;&nbsp;&nbsp;&nbsp;(i) to approve that the shareholder authorization (as approved
at the extraordinary general meeting of the Company held on 23 March 2026) authorizing the board of directors of the Company (the "**Board** ")
to implement one or more share consolidations of the Company's issued and unissued ordinary shares of par value USD0.00005 each
within 2 years at a ratio as the Board may determine from time to time in its absolute discretion; provided that the accumulative consolidation
ratio for all such share consolidation(s) shall not be more than 1-for-250 (the "**Shareholder Authorization**") be revised,
such that the Board shall be authorized to approve one or more share consolidations of the Company's issued and unissued Ordinary
Shares and Class A Shares, each of a par value of USD0.00025 at a ratio and from an effective date that may be determined by the Board
in its absolute discretion within 2 years after the date of passing of these resolutions with such consolidated Ordinary Shares and Class
A Shares being subject to the rights and obligations as set out in the then effective memorandum and articles of association of the Company,
provided that the accumulative consolidation ratio for all such share consolidation(s) shall be no less than 2-for-1 nor greater than
8,000-for-1; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) to confirm and ratify the rest of the ordinary resolutions
passed at the extraordinary general meeting of the Company held on 23 March 2026 in connection with the Shareholder Authorization for
share consolidation(s) (save for those amended by these resolutions).

**Proposal 7:**

By an ordinary resolution, to authorize the chairman of the Extraordinary Meeting to adjourn the Extraordinary Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extraordinary Meeting, there are not sufficient votes to approve Proposal 1 to Proposal 6 above.

The Board reserves its right to determine not to proceed with, and abandon, the share consolidation contemplated in Proposal 6 above if it determines in its sole discretion that implementing the share consolidation is not in the best interests of the Company and its shareholders. As such, if the Board did not determine a ratio within the two-year period, the share consolidation would not proceed and will be abandoned.

The Board recommends a vote FOR each of Proposals 1 to Proposal 7.

The Board is not aware of any other matters that will be presented for consideration at the Extraordinary Meeting. Nonetheless, in case there is an unforeseen need, the accompanying proxy gives discretionary authority to the persons named on the proxy with respect to any other matters that might be brought before the Extraordinary Meeting or at any postponement or adjournment of the Extraordinary Meeting. Those persons intend to vote that proxy in accordance with their judgment.

**Shareholders Entitled to Vote at the Extraordinary Meeting**

Only shareholders of record of our ordinary shares as of 5:00 p.m. Eastern Time on June 29, 2026 (the "**Record Date**") are entitled to notice and to attend and vote at the Extraordinary Meeting and any adjournment or postponement thereof.

Each fully paid ordinary share is entitled to one vote on each matter properly brought before the Extraordinary Meeting. The enclosed proxy card or voting instruction card shows the number of shares you are entitled to vote at the Extraordinary Meeting.

If on the Record Date your shares were registered directly in your name with the Company, then you are a shareholder of record. As a shareholder of record, you may vote in person at the Extraordinary Meeting or vote by proxy. Whether or not you plan to attend the Extraordinary Meeting, to ensure your vote is counted, we encourage you to vote before the Extraordinary Meeting.

If on the Record Date your shares were held in an account at a brokerage firm, bank, dealer, or other similar organization, then you are the beneficial owner of shares held in "street name" and these proxy materials are being forwarded to you by that organization. The organization holding your account is considered the shareholder of record for purposes of voting at the Extraordinary Meeting. As the beneficial owner, you have the right to direct your broker or other agent on how to vote the shares in your account. Your broker will not be able to vote your shares unless your broker receives specific voting instructions from you. We strongly encourage you to vote.

**Quorum Requirement**

The Extraordinary Meeting will be held if one or more shareholders entitled to vote and representing not less than one-third (1/3) of the outstanding ordinary shares carrying the right to vote at the Extraordinary Meeting, either in person or by proxy. If you submit a proxy, even though you abstain as to the Proposals, or you are present in person at the Extraordinary Meeting, your shares shall be counted for the purpose of determining if a quorum is present. In the event that there are not sufficient votes for a quorum, the Extraordinary Meeting may be adjourned or postponed in order to permit the further solicitation of proxies.

**Votes Required**

Assuming a quorum as referenced above is reached:

● Proposal 1 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting;

● Proposal 2 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting;

● Proposal 3 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting;

● Proposal 4 requires a special resolution under Cayman Islands law, being the affirmative ("FOR") vote of a majority of at least two thirds of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting;

● Proposal 5 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting;

● Proposal 6 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting; and

● Proposal 7 requires an ordinary resolution under Cayman Islands law, being the affirmative ("FOR") vote of a simple majority of the votes cast by such shareholders, being present and entitled to vote at the Extraordinary Meeting, voting in person or by proxy at the Extraordinary Meeting.

Only shares that are voted are taken into account in determining the proportion of votes cast for the Proposals. Any shares not voted (whether by abstention, broker non-vote or otherwise) will not impact the outcome of the Proposals.

**Submission of Votes**

Your shares may only be voted at the Extraordinary Meeting if you are entitled to vote and present in person or are represented by proxy. Whether or not you plan to attend the Extraordinary Meeting, we encourage you to vote by proxy to ensure that your shares will be represented. You may vote using any of the following methods described below.

Registered shareholders may vote in the following ways:

● By submitting your vote online;

● By submitting your vote telephonically;

● By completing the proxy card and returning it by fax;

● By completing the proxy card and returning it to the address noted; or

● By attending and voting your shares at the Extraordinary Meeting.

We are offering registered shareholders the opportunity to vote their shares by telephone or online. Shareholders may vote by telephone or online by following the procedures described on the proxy card. To vote via telephone or online, please have the proxy card in hand and call the number or go to the website listed on the proxy card and follow the instructions. The telephone and internet voting procedures are designed to authenticate shareholders' identities, to allow shareholders to give their voting instructions, and to confirm that shareholders' instructions have been recorded properly.

If your shares are held in a stock brokerage account or by a bank or other nominee, follow the instructions provided by your broker, bank or other nominee for voting your shares prior to the Extraordinary Meeting.

The instructions by which you may vote your shares at the Extraordinary Meeting differ based on whether you hold shares in your name as the shareholder of record or beneficially in street name. Shares held beneficially in street name may be voted at the Extraordinary Meeting only if you first obtain a legal proxy from the broker, bank or other nominee that holds your shares as of the Record Date. We are not involved in the provision of legal proxies from brokers to beneficial shareholders. If either you do not request a legal proxy prior to the Extraordinary Meeting or your broker fails to provide you with a legal proxy, then you will not be able to vote at the Extraordinary Meeting.

Even if you plan to attend the Extraordinary Meeting, we recommend that you also submit your proxy or voting instructions online or by telephone, fax or mail so that your vote will be counted if you later decide not to attend the Extraordinary Meeting.

**Proxy Solicitation Costs**

We will bear the entire cost of this solicitation of proxies, including the preparation, assembly, printing, and mailing of the proxy materials that we may provide to our shareholders. Copies of solicitation material will be provided to brokerage firms, fiduciaries and custodians holding shares in their names that are beneficially owned by others so that they may forward the solicitation material to such beneficial owners. We may solicit proxies by mail, and our officers and employees, who will receive no extra compensation therefore, may solicit proxies personally or by telephone. We will reimburse brokerage houses and other nominees for their expenses incurred in sending proxies and proxy materials to the beneficial owners of shares held by them.

**PROPOSAL 1**

**APPROVE INCREASE OF AUTHORISED SHARE CAPITAL**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

**Proposal One – "RESOLVED as an ordinary resolution that the authorized share capital of the Company be and is hereby increased from USD50,000 divided into 200,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each by the creation of additional 99,999,800,000,000 Ordinary Shares (the "Increase of Authorised Share Capital")."**

**Vote Required**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 1. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 1. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 1, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 1.

**PROPOSAL 2**

**APPROVE CREATION OF CLASS A SHARES**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

Proposal Two – "RESOLVED as an ordinary resolution that, a new class of Class A shares with USD0.00025 par value each in the authorized share capital of the Company (the "**Class A Shares**") be and hereby is created with each Class A Share entitling the holder thereof 100 votes and being convertible into 1 Ordinary Share at the option of the holder thereof, at any time after issue and without the payment of any additional sum; and upon transfer to a party who is not an Affiliate (as defined in the Amended M&A (as defined below)), each Class A Share shall be automatically converted into 1 Ordinary Share (the "**Creation of Class A Shares**"); and each Ordinary Share shall continue to carry 1 vote per share."

**Required Vote**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 2. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 2. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 2, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 2.

**PROPOSAL 3**

**APPROVE SHARE REDESIGNATION**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

Proposal Three – "RESOLVED as an ordinary resolution that, subject to and conditional upon the approval for the Increase of Authorised Share Capital and the Creation of Class A Shares above, the authorized share capital of the Company be and hereby is redesignated and reclassified from USD25,000,000,000 divided into 100,000,000,000,000 Ordinary Shares with USD0.00025 par value each to USD25,000,000,000 divided into 90,000,000,000,000 Ordinary Shares with USD0.00025 par value each and 10,000,000,000,000 Class A Shares with USD0.00025 par value each by redesignating 10,000,000,000,000 Ordinary Shares, comprising 3,170,664 issued Ordinary Shares held by LEW CAPITAL PRIVATE LIMITED, 270,000 issued Ordinary Shares held by LYC CAPITAL PRIVATE LIMITED and 9,999,996,559,336 unissued Ordinary Shares, into Class A Shares on a one-for-one basis (the "**Share Redesignation**", together with the Increase of Authorized Share Capital and the Creation of Class A Shares above, the "**Share Restructuring**")."

**Required Vote**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 3. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 3. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 3, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 3.

**PROPOSAL 4**

**APPROVE AND ADOPT THE SECOND AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following special resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

Proposal Four – "RESOLVED as a special resolution that, subject to and conditional upon the approval for the Share Restructuring above (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), the second amended and restated memorandum and articles of association of the Company (the "**Amended M&A**") as set forth in <u>Appendix A</u> be approved and adopted as the memorandum and articles of association of the Company, in substitution for and to the exclusion of the existing amended and restated memorandum and articles of association of the Company in its entirety with immediate effect to reflect, inter alias, the Share Restructuring.

**Required Vote**

The affirmative vote of a majority of not less than two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 4. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 4. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 4, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 4.

**PROPOSAL 5**

**APPROVE GENERAL AUTHORIZATION**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

Proposal Five – "RESOLVED as an ordinary resolution that, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above, any one or more of the directors and officers of the Company be and is hereby authorized to do all such acts and things and execute and deliver all such documents, which are ancillary to the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation) and the adoption of the Amended M&A, including but not limited to, making any relevant registrations and filings with any authorities in accordance with the applicable laws, rules and regulations, as any of them considers necessary, desirable or expedient to give effect to the foregoing resolutions; the registered office service provider of the Company be instructed to make all necessary filings with the Registrar of Companies of the Cayman Islands in connection with the Share Restructuring (including the Increase of Authorised Share Capital, the Creation of Class A Shares and the Share Redesignation), the adoption of the Amended M&A and the passing of the foregoing resolutions; and the Company's transfer agent be instructed to update the shareholder list of the Company and that upon the surrender to the Company of the existing share certificates (if any) that they be cancelled and that any director of the Company be instructed to prepare, sign, seal and deliver on behalf of the Company new share certificates accordingly."

**Required Vote**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 5. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 5. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 5, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 5.

**PROPOSAL 6**

**APPROVE REVISED TERMS OF SHAREHOLDER AUTHORIZATION FOR SHARE CONSOLIDATION(S)**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolutions:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolutions be adopted:

Proposal Six – "RESOLVED as ordinary resolutions that, subject to and conditional upon the approval for Proposal 1 to Proposal 4 above,

&nbsp;&nbsp;&nbsp;&nbsp;(i) the shareholder authorization (as approved at the extraordinary
general meeting of the Company held on 23 March 2026) authorizing the Board to implement one or more share consolidations of the Company's
issued and unissued ordinary shares of par value USD0.00005 each within 2 years at a ratio as the Board may determine from time to time
in its absolute discretion; provided that the accumulative consolidation ratio for all such share consolidation(s) shall not be more
than 1-for-250 (the "**Shareholder Authorization**") be and hereby is revised, such that the Board shall be authorized to
approve one or more share consolidations of the Company's issued and unissued Ordinary Shares and Class A Shares, each of a par
value of USD0.00025 at a ratio and from an effective date that may be determined by the Board in its absolute discretion within 2 years
after the date of passing of these resolutions with such consolidated Ordinary Shares and Class A Shares being subject to the rights
and obligations as set out in the then effective memorandum and articles of association of the Company, provided that the accumulative
consolidation ratio for all such share consolidation(s) shall be no less than 2-for-1 nor greater than 8,000-for-1; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) the rest of the ordinary resolutions passed at the extraordinary
general meeting of the Company held on 23 March 2026 in connection with the Shareholder Authorization for share consolidation(s) (save
for those amended by these resolutions) be and are hereby otherwise confirmed and ratified in all respects."

**Required Vote**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 6. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 6. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 6, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 6.

**PROPOSAL 7**

**APPROVE ADJOURNMENT OF THE EXTRAORDINARY MEETING BY CHAIRMAN**

**Background**

On June 29, 2026, the Board approved and directed that there be submitted to the shareholders of the Company for approval, the following ordinary resolution:

**Proposed Resolution**

It is proposed that at the Extraordinary Meeting, the following resolution be adopted:

Proposal Seven – "RESOLVED as an ordinary resolution that, the chairman of the Extraordinary Meeting be and hereby is authorized to adjourn the Extraordinary Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extraordinary Meeting, there are not sufficient votes to approve Proposal 1 to Proposal 6 above."

**Required Vote**

The affirmative vote of a simple majority of the votes cast by such shareholders as, being entitled to do so, vote in person or by proxy at the Extraordinary Meeting is required to approve Proposal 7. Unless otherwise instructed on the proxy or unless authority to vote is withheld, shares represented by executed proxies will be voted "FOR" Proposal 7. Abstentions and broker non-votes, if any, will not be counted as votes cast and will not affect the outcome of Proposal 7, although they will be counted for purposes of determining whether there is a quorum present.

**Recommendation of the Board**

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE "FOR" THE APPROVAL OF PROPOSAL 7.

**ADDITIONAL INFORMATION**

**Other Matters**

Our Board is not aware of any business to come before the Extraordinary Meeting other than those matters described above in this Proxy Statement. However, if any other matters should properly come before the Extraordinary Meeting, it is intended that proxies in the accompanying form will be voted in accordance with the judgment of the person or persons voting the proxies.

**Transfer Agent and Registrar**

The transfer agent and registrar for our ordinary shares is VStock Transfer, LLC. Its address is 18 Lafayette Pl, Woodmere, NY 11598, and its telephone number is 212-828-8436.

**Where You can Find More Information**

We file annual reports and other documents with the SEC under the Securities Exchange Act of 1934, as amended. Our SEC filings made electronically through the SEC's EDGAR system are available to the public at the SEC's website at http://www.sec.gov.

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| | |
|:---|:---|
| June 30, 2026 | By Order of the Board of Directors, |
|  | */s/ Leah Siang Ling* |
|  | Leah Siang Ling |
|  | Co-Chief Executive Officer |

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**Appendix A**

**Form of Second Amended and Restated Memorandum and Articles of Association**

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| |
|:---|
| &nbsp;&nbsp;**Companies Act (Revised)**<br>**Company Limited by Shares**<br>&nbsp;&nbsp; <br> <u>**SECOND**</u> **Amended and restated<br> memorandum of association<br> OF<br> WF HOLDING LIMITED**<br><u>(adopted by a special resolution passed on [10 July 2026])</u> |
| &nbsp;&nbsp;(Adopted by special resolution passed on 5 September 2024) |

---

![](ea029644501_ex99-1img1.jpg)

**Companies Act (Revised)**

**Company Limited by Shares**

<u>**Second**</u> **Amended and Restated**

**Memorandum of Association**

**of**

**WF** **Holding Limited**

(Adopted<u>adopted</u> by <u>a</u> special resolution passed on 5 September 2024<u>[10 July 2026</u>])

1 The name of the Company is WF Holding Limited.

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| | |
|:---|:---|
| 2 | The Company's registered office will be situated at the office<u>Registered Office of the Company shall be at the offices</u> of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands or at such other place in the Cayman Islands as the directors may at any time decide. |

---

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| | |
|:---|:---|
| 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. |

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

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| | |
|:---|:---|
| 6 | The<u>Unless licensed to do so, the</u> 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. |

---

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| | |
|:---|:---|
| 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. |

---

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| | |
|:---|:---|
| 8 | The share capital of the Company is USD50,000<u>USD25,000,000,000.00</u> divided into 1,000,000,000 Ordinary shares of US$0.00005 each. However, subject<u>90,000,000,000,000 Ordinary Shares of par value USD0.00025 each and 10,000,000,000,000 Class A Shares of par value USD0.00025 each. Subject</u> 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: |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>to</u> redeem or repurchase any of its shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>to</u> increase or reduce its capital;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>to</u> 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;(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;(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; and<u>or</u>

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

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| | |
|:---|:---|
| 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. |

---

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| |
|:---|
| &nbsp;&nbsp;**Companies Act (Revised)**<br>**Company Limited By Shares**<br>&nbsp;&nbsp;<br> **<u>Second</u> Amended and restated<br> articles of association<br> of<br> WF HOLDING LIMITED**<br><u>(adopted by a special resolution passed on [10 July 2026])</u> |
| &nbsp;&nbsp; (Adopted by special resolution passed on 5 September 2024) |

---

![](ea029644501_ex99-1img1.jpg)

**Contents**

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| | | |
|:---|:---|:---|
| **1** | **Definitions, interpretation and exclusion of Table A** | **1** |
| Definitions | Definitions | 1 |
| Interpretation | Interpretation | 4<u>5</u> |
| Exclusion of Table A Articles | Exclusion of Table A Articles | 5<u>6</u> |
| **2** | **Shares** | **5<u>6</u>** |
| Power to issue Shares and options, with or without special rights | Power to issue Shares and options, with or without special rights | 5<u>6</u> |
| Power to issue fractions of a Share | Power to issue fractions of a Share | 6<u>7</u> |
| Power to pay commissions and brokerage fees | Power to pay commissions and brokerage fees | 6<u>7</u> |
| Trusts not recognised | Trusts not recognised | 6<u>7</u> |
| Security interests | Security interests | 6<u>7</u> |
| <u>Rights of Shares</u> | <u>Rights of Shares</u> | <u>8</u> |
| Power to vary class rights | Power to vary class rights | 6<u>9</u> |
| Effect of new Share issue on existing class rights | Effect of new Share issue on existing class rights | 7<u>10</u> |
| No bearer Shares or warrants | No bearer Shares or warrants | 7<u>10</u> |
| Treasury Shares | Treasury Shares | 7<u>10</u> |
| Rights attaching to Treasury Shares and related matters | Rights attaching to Treasury Shares and related matters | 7<u>10</u> |
| Register of Members | Register of Members | 8<u>11</u> |
| Annual Return | Annual Return | 8<u>11</u> |
| **3** | **Share certificates** | **8<u>11</u>** |
| Issue of share certificates | Issue of share certificates | 8<u>11</u> |
| Renewal of lost or damaged share certificates | Renewal of lost or damaged share certificates | 9<u>12</u> |
| **4** | **Lien on Shares** | **9<u>12</u>** |
| Nature and scope of lien | Nature and scope of lien | 9<u>12</u> |
| Company may sell Shares to satisfy lien | Company may sell Shares to satisfy lien | 10<u>13</u> |
| Authority to execute instrument of transfer | Authority to execute instrument of transfer | 10<u>13</u> |
| Consequences of sale of Shares to satisfy lien | Consequences of sale of Shares to satisfy lien | 10<u>13</u> |
| Application of proceeds of sale | Application of proceeds of sale | 11<u>14</u> |
| **5** | **Calls on Shares and forfeiture** | **11<u>14</u>** |
| Power to make calls and effect of calls | Power to make calls and effect of calls | 11<u>14</u> |
| Time when call made | Time when call made | 11<u>14</u> |
| Liability of joint holders | Liability of joint holders | 11<u>15</u> |
| Interest on unpaid calls | Interest on unpaid calls | 12<u>15</u> |
| Deemed calls | Deemed calls | 12<u>15</u> |
| Power to accept early payment | Power to accept early payment | 12<u>15</u> |
| Power to make different arrangements at time of issue of Shares | Power to make different arrangements at time of issue of Shares | 12<u>15</u> |
| Notice of default | Notice of default | 12<u>15</u> |
| Forfeiture or surrender of Shares | Forfeiture or surrender of Shares | 13<u>16</u> |
| Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender | Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender | 13<u>16</u> |
| Effect of forfeiture or surrender on former Member | Effect of forfeiture or surrender on former Member | 13<u>16</u> |
| Evidence of forfeiture or surrender | Evidence of forfeiture or surrender | 14<u>17</u> |
| Sale of forfeited or surrendered Shares | Sale of forfeited or surrendered Shares | 14<u>17</u> |
| **6** | **Transfer of Shares** | **14<u>17</u>** |
| Form of Transfer | Form of Transfer | 14<u>17</u> |
| Power to refuse registration for Shares not listed on a Designated Stock Exchange | Power to refuse registration for Shares not listed on a Designated Stock Exchange | 14<u>17</u> |
| Suspension of transfers | Suspension of transfers | 15<u>18</u> |
| Company may retain instrument of transfer | Company may retain instrument of transfer | 15<u>18</u> |
| Notice of refusal to register | Notice of refusal to register | 15<u>18</u> |

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i

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| | | |
|:---|:---|:---|
| **7** | **Transmission of Shares** | **15<u>18</u>** |
| Persons entitled on death of a Member | Persons entitled on death of a Member | 15<u>18</u> |
| Registration of transfer of a Share following death or bankruptcy | Registration of transfer of a Share following death or bankruptcy | 16<u>19</u> |
| Indemnity | Indemnity | 16<u>19</u> |
| Rights of person entitled to a Share following death or bankruptcy | Rights of person entitled to a Share following death or bankruptcy | 16<u>19</u> |
| **8** | **Alteration of capital** | **16<u>20</u>** |
| Increasing, consolidating, converting, dividing and cancelling share capital | Increasing, consolidating, converting, dividing and cancelling share capital | 16<u>20</u> |
| Dealing with fractions resulting from consolidation of Shares | Dealing with fractions resulting from consolidation of Shares | 17<u>20</u> |
| Reducing share capital | Reducing share capital | 17<u>21</u> |
| **9** | **Redemption and purchase of own Shares** | **18<u>21</u>** |
| Power to issue redeemable Shares and to purchase own Shares | Power to issue redeemable Shares and to purchase own Shares | 18<u>21</u> |
| Power to pay for redemption or purchase in cash or in specie | Power to pay for redemption or purchase in cash or in specie | 18<u>21</u> |
| Effect of redemption or purchase of a Share | Effect of redemption or purchase of a Share | 18<u>21</u> |
| **10** | **Meetings of Members** | **19<u>22</u>** |
| Annual and extraordinary general meetings | Annual and extraordinary general meetings | 19<u>22</u> |
| Power to call meetings | Power to call meetings | 19<u>22</u> |
| Content of notice | Content of notice | 20<u>23</u> |
| Period of notice | Period of notice | 20<u>24</u> |
| Persons entitled to receive notice | Persons entitled to receive notice | 21<u>24</u> |
| Accidental omission to give notice or non-receipt of notice | Accidental omission to give notice or non-receipt of notice | 21<u>24</u> |
| **11** | **Proceedings at meetings of Members** | **21<u>24</u>** |
| Quorum | Quorum | 21<u>24</u> |
| Lack of quorum | Lack of quorum | 22<u>25</u> |
| Chairman | Chairman | 22<u>25</u> |
| Right of a Director to attend and speak | Right of a Director to attend and speak | 22<u>25</u> |
| Accommodation of Members at Virtual Meeting | Accommodation of Members at Virtual Meeting | 22<u>25</u> |
| Security | Security | 23<u>26</u> |
| Adjournment, postponement and cancellation | Adjournment, postponement and cancellation | 23<u>26</u> |
| Method of voting | Method of voting | 23<u>26</u> |
| Taking of a poll | Taking of a poll | 23<u>26</u> |
| Chairman's casting vote | Chairman's casting vote | 24<u>27</u> |
| Written resolutions | Written resolutions | 24<u>27</u> |
| Sole-Member Company | Sole-Member Company | 25<u>28</u> |
| **12** | **Voting rights of Members** | **26<u>29</u>** |
| Right to vote | Right to vote | 26<u>29</u> |
| Rights of joint holders | Rights of joint holders | 26<u>29</u> |
| Representation of corporate Members | Representation of corporate Members | 26<u>29</u> |
| Member with mental disorder | Member with mental disorder | 27<u>30</u> |
| Objections to admissibility of votes | Objections to admissibility of votes | 27<u>30</u> |
| Form of proxy | Form of proxy | 27<u>30</u> |
| How and when proxy is to be delivered | How and when proxy is to be delivered | 28<u>31</u> |
| Voting by proxy | Voting by proxy | 29<u>32</u> |
| **13** | **Number of Directors** | **29<u>32</u>** |
| **14** | **Appointment, disqualification and removal of Directors** | **29<u>33</u>** |
| First Directors | First Directors | 29<u>32</u> |
| No age limit | No age limit | 29<u>32</u> |
| Corporate Directors | Corporate Directors | 30<u>33</u> |
| No shareholding qualification | No shareholding qualification | 30<u>33</u> |
| Appointment of Directors | Appointment of Directors | 30<u>33</u> |

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ii

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| | | |
|:---|:---|:---|
| Board's power to appoint Directors | Board's power to appoint Directors | 30<u>33</u> |
| Removal of Directors | Removal of Directors | 30<u>34</u> |
| Resignation of Directors | Resignation of Directors | 31<u>34</u> |
| Termination of the office of Director | Termination of the office of Director | 31<u>34</u> |
| **15** | **Alternate Directors** | **31<u>35</u>** |
| Appointment and removal | Appointment and removal | 31<u>35</u> |
| Notices | Notices | 32<u>35</u> |
| Rights of alternate Director | Rights of alternate Director | 32<u>35</u> |
| Appointment ceases when the appointor ceases to be a Director | Appointment ceases when the appointor ceases to be a Director | 32<u>36</u> |
| Status of alternate Director | Status of alternate Director | 33<u>36</u> |
| Status of the Director making the appointment | Status of the Director making the appointment | 33<u>36</u> |
| **16** | **Powers of Directors** | **33<u>36</u>** |
| Powers of Directors | Powers of Directors | 33<u>36</u> |
| Directors below the minimum number | Directors below the minimum number | 33<u>37</u> |
| Appointments to office | Appointments to office | 34<u>37</u> |
| Provisions for employees | Provisions for employees | 34<u>38</u> |
| Exercise of voting rights | Exercise of voting rights | 34<u>38</u> |
| Remuneration | Remuneration | 35<u>38</u> |
| Disclosure of information | Disclosure of information | 35<u>38</u> |
| **17** | **Delegation of powers** | **35<u>39</u>** |
| Power to delegate any of the Directors' powers to a committee | Power to delegate any of the Directors' powers to a committee | 35<u>39</u> |
| Local boards | Local boards | 36<u>39</u> |
| Power to appoint an agent of the Company | Power to appoint an agent of the Company | 36<u>40</u> |
| Power to appoint an attorney or authorised signatory of the Company | Power to appoint an attorney or authorised signatory of the Company | 37<u>40</u> |
| Borrowing Powers | Borrowing Powers | 37<u>41</u> |
| Corporate Governance | Corporate Governance | 37<u>41</u> |
| **18** | **Meetings of Directors** | **38<u>41</u>** |
| Regulation of Directors' meetings | Regulation of Directors' meetings | 38<u>41</u> |
| Calling meetings | Calling meetings | 38<u>41</u> |
| Notice of meetings | Notice of meetings | 38<u>41</u> |
| Use of technology | Use of technology | 38<u>41</u> |
| Quorum | Quorum | 38<u>41</u> |
| Chairman or deputy to preside | Chairman or deputy to preside | 38<u>42</u> |
| Voting | Voting | 38<u>42</u> |
| Recording of dissent | Recording of dissent | 39<u>42</u> |
| Written resolutions | Written resolutions | 39<u>42</u> |
| Validity of acts of Directors in spite of formal defect | Validity of acts of Directors in spite of formal defect | 39<u>43</u> |
| **19** | **Permissible Directors' interests and disclosure** | **39<u>43</u>** |
| **20** | **Minutes** | **40<u>43</u>** |
| **21** | **Accounts and audit** | **40<u>43</u>** |
| Auditors | Auditors | 40<u>44</u> |
| **22** | **Record dates** | **41<u>44</u>** |
| **23** | **Dividends** | **41<u>45</u>** |
| Source of dividends | Source of dividends | 41<u>45</u> |
| Declaration of dividends by Members | Declaration of dividends by Members | 41<u>45</u> |
| Payment of interim dividends and declaration of final dividends by Directors | Payment of interim dividends and declaration of final dividends by Directors | 42<u>45</u> |
| Apportionment of dividends | Apportionment of dividends | 42<u>46</u> |
| Right of set off | Right of set off | 43<u>46</u> |

---

iii

---

| | | |
|:---|:---|:---|
| Power to pay other than in cash | Power to pay other than in cash | 43<u>46</u> |
| How payments may be made | How payments may be made | 43<u>46</u> |
| Dividends or other monies not to bear interest in absence of special rights | Dividends or other monies not to bear interest in absence of special rights | 44<u>47</u> |
| Dividends unable to be paid or unclaimed | Dividends unable to be paid or unclaimed | 44<u>47</u> |
| **24** | **Capitalisation of profits** | **44<u>47</u>** |
| Capitalisation of profits or of any share premium account or capital redemption reserve; | Capitalisation of profits or of any share premium account or capital redemption reserve; | 44<u>47</u> |
| Applying an amount for the benefit of Members | Applying an amount for the benefit of Members | 45<u>48</u> |
| **25** | **Share Premium Account** | **45<u>48</u>** |
| Directors to maintain share premium account | Directors to maintain share premium account | 45<u>48</u> |
| Debits to share premium account | Debits to share premium account | 45<u>48</u> |
| **26** | **Seal** | **45<u>49</u>** |
| Company seal | Company seal | 45<u>49</u> |
| Duplicate seal | Duplicate seal | 45<u>49</u> |
| When and how seal is to be used | When and how seal is to be used | 46<u>49</u> |
| If no seal is adopted or used | If no seal is adopted or used | 46<u>49</u> |
| Power to allow non-manual signatures and facsimile printing of seal | Power to allow non-manual signatures and facsimile printing of seal | 46<u>49</u> |
| Validity of execution | Validity of execution | 46<u>49</u> |
| **27** | **Indemnity** | **46<u>50</u>** |
| Release | Release | 47<u>50</u> |
| Insurance | Insurance | 47<u>51</u> |
| **28** | **Notices** | **48<u>51</u>** |
| Form of notices | Form of notices | 48<u>51</u> |
| Electronic communications | Electronic communications | 48<u>51</u> |
| Persons entitled to notices | Persons entitled to notices | 49<u>52</u> |
| Persons authorised to give notices | Persons authorised to give notices | 49<u>53</u> |
| Delivery of written notices | Delivery of written notices | 49<u>53</u> |
| Joint holders | Joint holders | 49<u>53</u> |
| Signatures | Signatures | 49<u>53</u> |
| Giving notice to a deceased or bankrupt Member | Giving notice to a deceased or bankrupt Member | 50<u>53</u> |
| Date of giving notices | Date of giving notices | 50<u>54</u> |
| Saving provision | Saving provision | 51<u>54</u> |
| **29** | **Authentication of Electronic Records** | **51<u>54</u>** |
| Application of Articles | Application of Articles | 51<u>54</u> |
| Authentication of documents sent by Members by Electronic means | Authentication of documents sent by Members by Electronic means | 51<u>54</u> |
| Authentication of document sent by the Secretary or Officers of the Company by Electronic means | Authentication of document sent by the Secretary or Officers of the Company by Electronic means | 51<u>55</u> |
| Manner of signing | Manner of signing | 52<u>55</u> |
| Saving provision | Saving provision | 52<u>56</u> |
| **30** | **Transfer by way of continuation** | **52<u>56</u>** |
| **31** | **Winding up** | **53<u>57</u>** |
| Distribution of assets in specie | Distribution of assets in specie | 53<u>57</u> |
| No obligation to accept liability | No obligation to accept liability | 53<u>57</u> |
| **32** | **Amendment of Memorandum and Articles** | **53<u>57</u>** |
| Power to change name or amend Memorandum | Power to change name or amend Memorandum | 53<u>57</u> |
| Power to amend these Articles | Power to amend these Articles | 54<u>57</u> |

---

iv

**Companies Act (Revised)**

**Company Limited by Shares**

**<u>Second</u> Amended and Restated**

**Articles of Association**

**of**

**WF** **Holding Limited**

(Adopted<u>adopted</u> by <u>a</u> special resolution passed on 5 September 2024<u>[10 July 2026]</u>)

1 Definitions, interpretation and exclusion of Table A

**Definitions**

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;

<u>**Affiliate** means in respect of a person or entity, any other person or entity that, directly or indirectly (including through one or more intermediaries), controls, is controlled by, or is under common control with, such person or entity, and (i) in the case of a natural person, shall include, without limitation, such person's spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and sisters-in-law, a trust solely for the benefit of any of the foregoing, a company, partnership or entity wholly owned by one or more of the foregoing, and (ii) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. The term "control" in this definition shall mean the ownership, directly or indirectly, of securities possessing more than fifty percent (50%) of the voting power of the corporation, or the partnership or other entity (other than, in the case of corporation, securities having such power only by reason of the happening of a contingency not within the reasonable control of such partnership, corporation, natural person or entity), or having the power to control the management or elect a majority of members to the board of directors or equivalent decision-making body of such corporation, partnership or other entity;</u>

**Articles** means, as appropriate:

&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;(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;

<u>**Class A Share** means the class A shares of USD0.00025 par value each of the Company, which have the rights set forth in these Articles;</u>

**Clear Days**, in relation to a period of notice, means that period <u>of calendar days</u> excluding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the <u>calendar</u> day when the notice is given or deemed to be given; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the <u>calendar</u> 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;

<u>**Conversion Date** means in respect of a Conversion Notice means the day on which that Conversion Notice is delivered;</u>

<u>**Conversion Notice** means a written notice delivered to the Company at its office (and as otherwise stated therein) stating that a holder of Class A Shares elects to convert the number of Class A Shares specified therein pursuant to Article 2.9(a);</u>

<u>**Conversion Number** in relation to any Class A Shares, such number of Ordinary Shares as may, upon exercise of the Conversion Right, be issued at the Conversion Rate;</u>

<u>**Conversion Rate** in relation to the conversion of Class A Shares to Ordinary Shares means, at any time, on a one-to-one basis. The foregoing Conversion Rate shall also be adjusted to account for any subdivision (by share split, subdivision, exchange, capitalisation, rights issue, reclassification, recapitalisation or otherwise) or combination (by reverse share split, share consolidation, exchange, reclassification, recapitalisation or otherwise) or similar reclassification or recapitalisation of the Ordinary Shares in issue into a greater or lesser number of shares occurring after the original filing of the Articles without a proportionate and corresponding subdivision, combination or similar reclassification or recapitalisation of the Class A Shares in issue;</u>

<u>**Conversion Right** in respect of a holder of Class A Shares, subject to the provisions of these Articles and to any applicable fiscal or other laws or regulations including the Act, to convert all or any of its Class A Shares, into the Conversion Number of Ordinary Shares in its discretion;</u>

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

**Designated Stock Exchanges** means The Nasdaq Stock Market LLC in the United States of America for so long as <u>any class of</u> the Company's Shares are there listed and any other stock exchange on which <u>any class of</u> the Company's Shares are listed for trading;

**Designated Stock Exchange Rules** means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares on the Designated Stock 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 Communication Facilities** means video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or any other video-communications, internet or online conferencing application or telecommunications facilities by means of which all persons participating in a meeting are capable of hearing and being heard by each other;

**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;(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;(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** **<u>general meeting</u>** 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<u>Register</u> 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<u>general meeting</u> passed by a simple majority of <u>the</u> votes by Members who (being entitled to do so) vote in person or by proxy or, in the case of corporations, by their duly authorised representatives, at that meeting. The expression includes a written resolution signed by the requisite majority in accordance with Article 11.14<u>11.14</u>;

**Ordinary Share<u>Shares</u>** means an<u>the</u> ordinary share in the capital<u>shares of USD0.00025 par value each</u> of the Company<u>, which have the rights set forth in these Articles</u>;

**Partly Paid Up** means:

&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;(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;

<u>**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 the Members;</u>

**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 <u>share</u> capital of the Company and the expression:

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

**Special Resolution** means a resolution of a General Meeting<u>general meeting</u> 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 not less than two-thirds of the votes by Members who (being entitled to do so) vote in person or by proxy at that meeting.

The expression includes a unanimous written resolution signed by all of the Members entitled to vote at such meeting;

**Treasury Shares** means Shares held in treasury pursuant to the Act and Article 2.14<u>2.15</u>;

**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; and

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

**Interpretation**

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

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**

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**

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.

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

&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.

2.3 Without limitation
 to the two preceding Articles,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 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;(b) 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.

**Power to issue fractions of a Share**

2.4 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**

2.5 The Company
 may pay a commission to any person in consideration of that person:

&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;(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.

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

**Trusts not recognised**

2.7 Except as required
 by Act:

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

**Security interests**

2.8 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.

**<u>Rights of Shares</u>**

<u>2.9</u> <u>Subject to Article 2.1, the Memorandum and any Special Resolution to the contrary and without prejudice to any special rights conferred thereby on the holders of any other Shares or class of Shares, Ordinary Shares and Class A Shares shall carry equal rights and rank pari passu with one another in all respects other than as set out below:</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>**(a)**</u> <u>**Conversion Rights:**</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i)</u> <u>Subject to the provisions hereof and to compliance with all fiscal and other laws and regulations applicable thereto, including the Act, a holder of Class A Shares shall have the Conversion Right in respect of each Class A Share in its holding. For the avoidance of doubt, a holder of Ordinary Shares shall have no rights to convert Ordinary Shares into Class A Shares under any circumstances.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u> <u>Each Class A Share shall be converted at the option of the holder, at any time after issue and without the payment of any additional sum, into such Conversion Number of fully paid Ordinary Shares calculated at the Conversion Rate. Such conversion shall take effect on the Conversion Date. A Conversion Notice shall not be effective if it is not accompanied by the share certificates in respect of the relevant Class A Shares and/or such other evidence (if any) as the Directors may reasonably require to prove the title of the person exercising such right (or, if such certificates have been lost or destroyed, such evidence of title and such indemnity as the Directors may reasonably require). Any and all taxes and stamp, issue and registration duties (if any) arising on conversion shall be borne by the holder of Class A Shares requesting conversion.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iii)</u> <u>On the Conversion Date, every Class A Share converted shall automatically be re-designated and re-classified (or in such other manner as the Directors may direct that is not in contravention of applicable laws) as the applicable Conversion Number of Ordinary Shares with such rights and restrictions attached thereto and shall rank pari passu in all respects with the Ordinary Shares then in issue and the Company shall enter or procure the entry of the name of the relevant holder of converted Class A Shares as the holder of the corresponding number of Ordinary Shares resulting from the conversion of the Class A Shares in, and make any other necessary and consequential changes to, the Register of Members and shall procure that, if required, certificates in respect of the relevant Ordinary Shares, together with a new certificate for any unconverted Class A Shares comprised in the certificate(s) surrendered by the holder of the Class A Shares, are issued to the holders thereof.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iv)</u> <u>Until such time as the Class A Shares have been converted into Ordinary Shares, the Company shall: (A) at all times keep available for issue and free of all liens, charges, options, mortgages, pledges, claims, equities, encumbrances and other third-party rights of any nature, and not subject to any pre-emptive rights out of its authorised but unissued share capital, such number of authorised but unissued Ordinary Shares as would enable all Class A Shares to be converted into Ordinary Shares and any other rights of conversion into, subscription for or exchange into Ordinary Shares to be satisfied in full; and (B) not make any issue, grant or distribution or take any other action if the effect would be that on the conversion of the Class A Shares to Ordinary Shares it would be required to issue Ordinary Shares at a price lower than the par value thereof.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>**(b)**</u> <u>**Voting Rights:**</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i)</u> <u>Holders of Ordinary Shares and Class A Shares have the right to receive notice of, attend, speak and vote at general meetings of the Company. Holders of Ordinary Shares and Class A Shares shall, at all times, vote together as a single class on all matters submitted to a vote for Members' consent.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u> <u>Each Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote at general meetings of the Company; whereas, each Class A Share shall be entitled to one hundred (100) votes on all matters subject to the vote at general meetings of the Company.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(c)</u> <u>**Transfer:**</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(i)</u> <u>Upon any sale, transfer, assignment or disposition of Class A Shares by a holder thereof to any person or entity which is not an Affiliate of such holder, such Class A Shares validly transferred to the new holder shall be automatically and immediately converted into such Conversion Number of Ordinary Shares calculated based on the Conversion Rate.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u> <u>For the avoidance of doubt, (i) a sale, transfer, assignment or disposition shall be effective upon the Company's registration of such sale, transfer, assignment or disposition in the Company's Register of Members; and (ii) the creation of any pledge, charge, encumbrance or other third party right of whatever description on any of Class A Shares to secure a holder's contractual or legal obligations shall not be deemed as a sale, transfer, assignment or disposition unless and until any such pledge, charge, encumbrance or other third party right is enforced and results in the third party holding fee simple ownership interest to the related Class A Shares, in which case all the related Class A Shares shall be automatically converted into the same number of Ordinary Shares upon the Company's registration of the third party or its designee as a Member holding that number of Ordinary Shares in the Register of Members.</u> 

**Power to vary class rights**

<u>2.10</u> 2.9 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;(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;(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.

<u>2.11</u> 2.10 For the purpose of Article 2.9(b) <u>2.10(b)</u>,
 all the provisions of these Articles relating to general meetings apply, mutatis mutandis,
 to every such separate meeting except that 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.

<u>2.12</u> 2.11 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**

<u>2.13</u> 2.12 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**

<u>2.14</u> 2.13 The Company shall not issue Shares or warrants
 to bearers.

**Treasury Shares**

<u>2.15</u> 2.14 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;(a) the Directors
 so determine prior to the purchase, redemption or surrender of those shares; and

&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**

<u>2.16</u> 2.15 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.

<u>2.17</u> 2.16 The Company shall be entered in the register <u>Register</u> of Members as the holder of the Treasury Shares. However:

&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;(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.

<u>2.18</u> 2.17 Nothing in Article 2.16 <u>2.17</u> 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.

<u>2.19</u> 2.18 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**

<u>2.20</u> 2.19 The Directors shall keep or cause to be kept
 a register <u>Register</u> of Members as required by the Act and may cause the Company to maintain one or more branch
 registers as contemplated by the Act, provided that where the Company is maintaining one
 or more branch registers, the Directors shall ensure that a duplicate of each branch register
 is kept with the Company's principal register <u>Register</u> of Members and updated within such number of days of any amendment having been made to such
 branch register as may be required by the Act.

<u>2.21</u> 2.20 The title to Shares listed on a Designated
 Stock Exchange 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 <u>Register</u> of Members may be maintained in accordance with section 40B of the Act.

**Annual Return**

<u>2.22</u> 2.21 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**

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 <u>Register</u> of Members as the holder of a Share, the Directors may issue to any Member:

&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;(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.

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.

3.3 Every certificate
 shall bear legends required under the applicable laws, including the U.S. Securities Act <u>(to the extent applicable)</u>.

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**

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;(a) evidence;

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

&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;(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**

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

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**

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

&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;(c) that sum
 is not paid within fourteen <u>(14)</u> 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.

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

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**

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.

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**

4.8 On a sale
 pursuant to the preceding Articles:

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

&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.

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**

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;(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;(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**

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.

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.

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**

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**

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**

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

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

**Deemed calls**

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**

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**

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**

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;(a) the amount
 unpaid;

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

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

5.11 The notice
 shall state the following:

&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;(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**

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**

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**

5.14 On forfeiture
 or surrender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the name
 of the Member concerned shall be removed from the register <u>Register</u> 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;(b) that person
 shall surrender to the Company for cancellation the certificate (if any) for the forfeited
 or surrendered Shares.

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;(a) all expenses;
 and

&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;(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;(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**

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

&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**

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**

6.1 Subject to
 the following Articles about the transfer of Shares, and provided that such transfer complies
 with applicable rules of the Designated Stock Exchange, a Member may freely 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 (if such Shares are listed on the Designated Stock Exchange)
 or in any other form approved by the directors <u>Directors</u>,
 executed:

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

&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.

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 <u>Register</u> of Members.

**Power to refuse registration for Shares not listed on a Designated Stock Exchange**

6.3 Where the
 Shares <u>of any class</u> in
 question are not listed on or subject to the rules of any Designated Stock Exchange, the
 Directors may in their absolute discretion decline to register any transfer of such Shares
 which are not Fully Paid Up or on which the Company has a lien. The Directors may also, but
 are not required to, decline to register any transfer of any such Share unless:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the instrument
 of transfer is in respect of only one class of Shares;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Shares
 transferred are Fully Paid Up and free of any lien in favour of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any applicable
 fee of such maximum sum as the Designated Stock Exchanges may determine to be payable, or
 such lesser sum as the Board may from time to time require, related to the transfer is paid
 to the Company.

**Suspension of transfers**

6.4 The registration
 of transfers may, on 14 Clear Days' notice being given by advertisement in such one
 or more newspapers or by electronic means, be suspended and the register <u>Register</u> of Members closed at such times and for such periods as the Directors may, in their absolute
 discretion, from time to time determine, provided always that such registration of transfer
 shall not be suspended nor the register <u>Register</u> of Members closed for more than 30 Clear Days in any year.

**Company may retain instrument of transfer**

6.5 All instruments
 of transfer that are registered shall be retained by the Company.

**Notice of refusal to register**

6.6 If the Directors
 refuse to register a transfer of any Shares <u>of any class</u> not listed on a Designated Stock Exchange, they shall within one month 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.

7 Transmission of Shares

**Persons entitled on death of a Member**

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

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

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**

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

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

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

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.

7.6 If the person
 elects to transfer the Share to another person then:

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

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

**Indemnity**

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**

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**

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;(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;(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;(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;(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;(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**

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;(a) either round
 up or down the fraction to the nearest whole number, such rounding to be determined by the
 Directors acting in their sole discretion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 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); or

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

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**

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** | **Redemption and purchase of own Shares** |

---

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

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;(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;(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;(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. No share<u>Share</u> may be redeemed or purchased unless it is Fully Paid Up.

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

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**

9.3 Upon the date
 of redemption or purchase of a Share:

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

&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;(b) the Member's
 name shall be removed from the register <u>Register</u> of Members with respect to the Share; and

&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.

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 <u>Register</u> of Members with respect to the Shares the subject of the redemption or purchase.

---

| | |
|:---|:---|
| **10** | **Meetings of Members** |

---

**Annual and extraordinary general meetings**

10.1 The Company
 may, but shall not (unless required by the <u>applicable</u> 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.

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

**Power to call meetings**

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

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.

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

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.

10.7 The requisition
 must also:

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

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

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.

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.

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

**Content of notice**

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

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

&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;(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;(d) if the meeting
 is to be held in two or more places, or in any part virtually, the Electronic Communication
 Facilities that will be used to facilitate the meeting, including the procedures to be followed
 by any Member or other participant of the meeting who wishes to utilise such Electronic Communication
 Facilities for the purposes of attending and participating in such meeting;

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

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

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

**Period of notice**

10.13 At least
 five <u>(5)</u> Clear Days ' <u>'</u> notice must be given to Members for any general meeting.

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.

**Persons entitled to receive notice**

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;(a) the Members

&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;(c) the Directors;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Auditors <u>(if appointed)</u>.

10.16 The Board
 may determine that the Members entitled to receive notice of, attend and vote at a meeting
 are those persons entered on the register <u>Register</u> of Members at the close of business on a day determined by the Board.

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

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

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

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

&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**

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 at the meeting. A quorum is as follows:

&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;(b) if the Company
 has more than one Member: one or more Members holding Shares that represent not less than
 one-third of the <u>total voting power underlying the</u> outstanding Shares carrying the right to vote at such general
 meeting.

**Lack of quorum**

11.2 If a quorum
 is not present at the meeting 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;(a) If the meeting
 was requisitioned by Members, it shall be cancelled.

&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 <u>five Business Days</u> hence, or to such other time or place as is determined by the Directors. If a
 quorum is not present at the meeting within fifteen minutes of the time appointed for the
 adjourned meeting, then the Members present in person or by proxy at the meeting shall constitute
 a quorum.

**Chairman**

11.3 The chairman
 of a general meeting (including any Virtual Meeting) shall be the chairman of the Board or
 such other Director as the Directors may determine. Absent any such person being present
 at the meeting within fifteen minutes of the time appointed for the meeting, the Directors
 present shall elect one of their number to chair the meeting. The chairman of the meeting
 shall be entitled to attend and participate at any such general meeting by means of Electronic
 Communication Facilities, and to act as the chairman of such general meeting, in which event
 the chairman of the meeting shall be deemed to be present at the meeting.

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**

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 at Virtual Meeting**

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

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

Without limiting the generality of the foregoing, the Directors may determine that any general meeting may be held as a Virtual Meeting.

**Security**

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**

11.8 A meeting
 may be:

&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; or

&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.

The chairman must adjourn the meeting if so directed by the Members constituting a quorum at the meeting. No business, however, can be transacted at an adjourned or postponed meeting other than business which might properly have been transacted at the original meeting.

11.9 Should a meeting
 be adjourned for more than seven <u>7</u> Clear Days, whether because of a lack of quorum or otherwise, Members shall be given at least seven <u>7</u> 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**

11.10 A resolution
 put to the vote of the meeting shall be decided on a poll.

**Taking of a poll**

11.11 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 as a Virtual Meeting or in more than one place, the
 chairman may appoint scrutineers virtually and in more than one 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**

11.12 In the case
 of an equality of votes, the Chairman of the meeting shall not be entitled to a second or
 casting vote.

**Written resolutions**

11.13 Without limitation
 to section 60(1) of the Act, Members may pass a Special Resolution in writing without holding
 a meeting if the following conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all Members
 entitled to vote on the resolution 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;(b) all Members
 entitled so to vote ; <u>:</u> 

&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;(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;(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, which shall be as effective as if it had been passed at a meeting of the Members entitled to vote duly convened and held, is passed when all such Members have so signified their agreement to the resolution.

11.14 Members may
 pass an Ordinary Resolution in writing without holding a meeting if the following conditions
 are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all Members
 entitled to vote on the resolution are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) given notice
 of the resolution as if the same were being proposed at a meeting of Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) notified
 in the same or an accompanying notice of the date by which the resolution must be passed
 if it is not to lapse, being a period of five (5) Clear
 Days <u>7 days</u> beginning with the date that the notice is first given;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the required
 majority of the Members entitled so to vote:

&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;(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;(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, which shall be as effective as if it had been passed at a meeting of the Members entitled to vote duly convened and held, is passed upon the later of these dates: (i) subject to the following Article, the date next immediately following the end of the period of five (5) Clear Days beginning with the date that notice of the resolution is first given and (ii) the date when the required majority have so signified their agreement to the resolution. However, the proposed written resolution lapses if it is not passed before the end of the period of 14<u>7</u> days beginning with the date that notice of it is first given.

11.15 If all Members
 entitled to be given notice of the Ordinary Resolution consent, a written resolution may
 be passed as soon as the required majority have signified their agreement to the resolution,
 without any minimum period of time having first elapsed. Save that the consent of the majority
 may be incorporated in the written resolution, each consent shall be in writing or given
 by Electronic Record and shall otherwise be given to the Company in accordance with Article
 28 (*Notices*) prior to the written resolution taking effect.

11.16 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.

11.17 If a written
 resolution is described as a Special Resolution or as an Ordinary Resolution, it has effect
 accordingly.

11.18 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**

<u>11.18</u> 11.19 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**

12.1 Unless <u>Subject to the following, unless</u> 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, 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. <u>Unless otherwise required under the Act or by these Articles, holders of Ordinary Shares and Class A Shares shall at all times vote together as one class on all resolutions submitted to vote by the Members.</u> 

12.2 Members may
 vote in person or by proxy.

12.3 On a poll a Member shall have one vote for each Share he holds, unless
 any Share carries special voting rights. <u>, each Ordinary Share shall be entitled to one (1) vote on all matters subject to vote at general meetings of the Company, and each Class A Share shall be entitled to one hundred (100) votes on all matters subject to vote at general meetings of the Company. A fraction of a Ordinary Share shall entitle its holder to an equivalent fraction of one (1) vote, and a fraction of a Class A Share shall entitle its holder to an equivalent fraction of one hundred (100) votes.</u> 

12.4 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**

12.5 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 <u>Register</u> of Members shall be accepted to the exclusion of the votes of the other joint holder.

**Representation of corporate Members**

12.6 Save where
 otherwise provided, a corporate Member must act by a duly authorised representative.

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

12.8 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.

12.9 The Directors
 of the Company may require the production of any evidence which they consider necessary to
 determine the validity of the notice.

12.10 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.

12.11 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**

12.12 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, by that Member's
 receiver, *curator bonis* or other person authorised in that behalf appointed by that
 court.

12.13 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**

12.14 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**

12.15 An instrument
 appointing a proxy shall be in any common form or in any other form approved by the Directors.

12.16 The instrument
 must be in writing and signed in one of the following ways:

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

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

&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.

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

12.18 A Member
 may revoke the appointment of a proxy at any time by notice to the Company duly signed in
 accordance with Article 12.16.

12.19 No revocation
 by a Member of the appointment of a proxy made in accordance with Article 12.18 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**

12.20 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;(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;(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;(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;(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;(i) in the notice
 convening the meeting; or

&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;(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;(c) Notwithstanding
 Article 12.20(a) and Article 12.20(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.

12.21 If the form
 of appointment of proxy is not delivered on time, it is invalid.

12.22 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.

12.23 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**

12.24 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.

12.25 The instrument
 appointing a proxy to vote at a meeting 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

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**

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**

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

**Corporate Directors**

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**

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**

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.

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

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.

14.8 For so long
 as Shares 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.

**Board's power to appoint Directors**

14.9 Without prejudice
 to the Company's power to appoint a person to be a Director pursuant to these Articles,
 the Board shall have power at any time to appoint any person who is willing to act as a Director,
 either to fill a vacancy or as an addition to the existing Board, subject to the total number
 of Directors not exceeding any maximum number fixed by or in accordance with these Articles.

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

**Removal of Directors**

14.11 A Director
 may be removed by Ordinary Resolution.

**Resignation of Directors**

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.

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**

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.

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

&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;(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;(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;(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;(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;(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**

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.

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.

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

&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;(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;(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**

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**

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**

15.6 An alternate
 Director shall cease to be an alternate Director if:

&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;(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;(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**

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

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

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

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

**Status of the Director making the appointment**

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**

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.

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**

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**

16.4 The
 Directors may appoint a Director:

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

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

&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.

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

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

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.

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;(a) as
 Secretary; and

&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.

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

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**

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**

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**

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.

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.

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.

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**

16.17 Subject
 to compliance with applicable laws, including the applicable federal securities laws of the
 United States, 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 <u>Register</u> 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;(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;(b) such
 disclosure is in compliance with the Designated Stock Exchange Rules; or

&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;(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**

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. For so long as Shares are listed on a Designated
 Stock Exchange, 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.

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

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.

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

17.5 For
 so long as <u>the</u> Shares
 are listed on a Designated Stock Exchange, the Board shall, if required by the Designated
 Stock Exchange <u>Rules</u>,
 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 committee <u>committees</u> 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, subject to any
 exemptions permitted under the Designated Stock Exchange Rules and other applicable laws.

**Local boards**

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.

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.

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**

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

&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**

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;(a) for
 any purpose;

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

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

&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.

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.

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

**Borrowing Powers**

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**

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**

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

**Calling meetings**

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**

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**

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.

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

**Quorum**

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**

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.

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**

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**

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

&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;(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**

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.

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

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

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**

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

19.1 A
 Director who is in any way, whether directly or indirectly, interested in a contract or transaction
 or proposed contract or transaction with the Company shall declare the nature of his interest
 at a meeting of the Directors. A general notice given to the Directors by any Director to
 the effect that he is a member of any specified company or firm and is to be regarded as
 interested in any contract or transaction which may thereafter be made with that company
 or firm shall be deemed a sufficient declaration of interest in regard to any contract so
 made or transaction so consummated. Subject to the Designated Stock Exchange Rules and disqualification
 by the chairman of the relevant Board meeting, a Director may vote in respect of any contract
 or transaction or proposed contract or transaction notwithstanding that he may be interested
 therein provided the Director discloses to his fellow directors the nature and extent of
 any material interests in respect of any contract or transaction or proposed contract or
 transaction and if he does so his vote shall be counted and he may be counted in the quorum
 at any meeting of the Directors at which any such contract or transaction or proposed contract
 or transaction shall come before the meeting for consideration.

---

| | |
|:---|:---|
| 20 | Minutes |

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

&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;(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.

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

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.

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.

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**

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

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.

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

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

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.

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.

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**

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

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**

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**

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.

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;(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;(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.

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;(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;(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;(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**

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. A ll
 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**

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**

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;(a) issue
 fractional Shares;

&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;(c) vest
 some assets in trustees.

**How payments may be made**

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;(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;(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.

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.

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;(a) to
 the registered address of the Joint Holder of the Share who is named first on the register <u>Register</u> 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;(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.

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**

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**

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.

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;**

24.1 The
 Directors may resolve to capitalise:

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

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

&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**

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.

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**

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**

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

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

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**

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

**Duplicate seal**

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**

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

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

**If no seal is adopted or used**

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

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

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

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

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

**Validity of execution**

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

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;(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;(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.

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**

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**

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;(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;(i) the
 Company;

&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;(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;(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**

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

**Electronic communications**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Directors so resolve or otherwise accept the notice; or <u>;</u> 

&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.

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 with an Electronic address to which notice
 may be sent.

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

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

&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;(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 p eriod, 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**

28.5 Any
 notice or other document to be given to a Member may be given by reference to the register <u>Register</u> 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 <u>Register</u> 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**

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**

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**

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 <u>Register</u> of Members.

**Signatures**

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.

28.10 An
 Electronic Record may be signed by an Electronic Signature.

**Evidence of transmission**

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.

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.

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**

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.

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**

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**

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**

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**

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

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 29.7 applies.

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

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;(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;(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;(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.

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 <u>29.7</u> applies.

**Manner of signing**

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**

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;(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;(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;(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

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;(a) the
 Cayman Islands; or

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

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;(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;(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**

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;(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;(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**

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

31.3 The
 Directors are authorised to present a winding up petition

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**

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

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

&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**

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**

![](ea029644501_ex99-2img1.jpg)

WF HOLDING LIMITED THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS EXTRAORDINARY MEETING OF MEMBERS – JULY 10, 2026 AT 10:00 AM LOCAL TIME CONTROL ID: REQUEST ID: The undersigned, a shareholder of WF Holding Limited (the "Company"), does hereby appoint and authorize Chee Hoong Lew with the full power of substitution, to represent the undersigned and vote all of the ordinary shares of the Company held of record as of the close of business on June 29, 2026 with all of the powers that the undersigned would possess if personally present, at the Extraordinary Meeting of Members of the Company on July 10, 2026, or at any postponement or adjournment thereof. The undersigned hereby revokes all proxies previously given. (CONTINUED AND TO BE SIGNED ON REVERSE SIDE.) VOTING INSTRUCTIONS If you vote by phone, fax or internet, please DO NOT mail your proxy card. MAIL: 755775.3 Please mark, sign, date, and return this Proxy Card promptly using the enclosed envelope. Complete the reverse portion of this Proxy Card and Fax to 202 - 521 - 3464. FAX: INTERNET: h t t p s : // w w w . i p ro x y d i r e c t. c o m / W F F PHONE: 1 - 8 6 6 - 7 5 2 - V O T E (8 6 8 3)

![](ea029644501_ex99-2img2.jpg)

PLEASE COMPLETE, DATE, SIGN AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE:  EXTRAORDINARY MEETING OF THE MEMBERS OF WF HOLDING LIMITED PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS ABSTAIN AGAINST FOR  Proposal 1 CONTROL ID:    An ordinary resolution proposes increasing the Company's authorized share capital from USD 50,000 (200,000,000 ordinary shares) to USD 25,000,000,000 (100,000,000,000,000 ordinary shares) by creating an additional 99,999,800,000,000 ordinary shares at USD 0.00025 par value each. REQUEST ID: ABSTAIN AGAINST FOR  Proposal 2    An ordinary resolution proposes creating a new class of Class A shares with USD 0.00025 par value, each carrying 100 votes and being convertible into one ordinary share (including automatic conversion upon transfer to a non - affiliate), while ordinary shares continue to carry one vote each. ABSTAIN AGAINST FOR  Proposal 3    An ordinary resolution proposes, subject to prior approvals, redesignating and reclassifying the Company's authorized share capital to USD 25,000,000,000 comprising 90,000,000,000,000 ordinary shares and 10,000,000,000,000 Class A shares by redesignating 3,440,664 issued ordinary shares and 9,999,996,559,336 unissued ordinary shares into Class A shares on a one - for - one basis as part of a broader share restructuring. ABSTAIN AGAINST FOR  Proposal 4    By a special resolution, subject to prior approvals, the Company will adopt the second amended and restated memorandum and articles of association replacing the existing version in full to reflect the restructuring with immediate effect. ABSTAIN AGAINST FOR  Proposal 5    By an ordinary resolution, subject to prior approvals, the Company authorizes its directors and officers to execute all necessary actions, filings, and documents to implement Proposals 1 to 4 above, including updating shareholder records and issuing new share certificates. ABSTAIN AGAINST FOR  Proposal 6    By ordinary resolutions, subject to prior approvals, the Company will revise the Board's authority to implement share consolidations of ordinary shares and Class A shares within two years at ratios between 2 - for - 1 and 8,000 - for - 1, and ratify the remaining previously approved resolutions relating to share consolidations. ABSTAIN AGAINST FOR  Proposal 7    An ordinary resolution authorizes the meeting chair to adjourn the meeting if needed to obtain sufficient votes for Proposals 1 – 6, while granting the Board discretion to abandon the proposed share consolidation if it is not in the Company's and shareholders' best interests or if no ratio is determined within two years. MARK "X" HERE IF YOU PLAN TO ATTEND THE MEETING:  MARK HERE FOR ADDRESS CHANGE  New Address (if applicable): IMPORTANT : Please sign exactly as your name or names appear on this Proxy . When shares are held jointly, each holder should sign . When signing as executor, administrator, attorney, trustee or guardian, please give full title as such . If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such . If signer is a partnership, please sign in partnership name by authorized person . Dated : , 2026 The board recommends voting 'FOR' Proposals 1, 2, 3, 4, 5, 6, and 7. (Print Name of Shareholder and/or Joint Tenant) (Signature of Shareholder) (Second Signature if held jointly) 755775.3