# EDGAR Filing Document

**Accession Number:** 0001937737
**File Stem:** 0001213900-25-054506
**Filing Date:** 2025-6
**Character Count:** 323183
**Document Hash:** 5508174842b8812177a0d2ffbb4b88c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-054506.hdr.sgml**: 20250616

**ACCESSION NUMBER**: 0001213900-25-054506

**CONFORMED SUBMISSION TYPE**: POS AM

**PUBLIC DOCUMENT COUNT**: 13

**REFERENCES 429**: 333-269439

**FILED AS OF DATE**: 20250616

**DATE AS OF CHANGE**: 20250616

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Moolec Science SA
- **CENTRAL INDEX KEY:** 0001937737
- **STANDARD INDUSTRIAL CLASSIFICATION:** TEXTILE MILL PRODUCTS [2200]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** POS AM
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-283113
- **FILM NUMBER:** 251048647

**BUSINESS ADDRESS:**
- **STREET 1:** 17, BOULEVARD F.W. RAIFFEISAN
- **CITY:** LUXEMBOURG
- **STATE:** N4
- **ZIP:** L-2411
- **BUSINESS PHONE:** 352 26 49 65 65

**MAIL ADDRESS:**
- **STREET 1:** 17, BOULEVARD F.W. RAIFFEISAN
- **CITY:** LUXEMBOURG
- **STATE:** N4
- **ZIP:** L-2411

**As filed with the Securities and Exchange Commission on June 16, 2025** 

**Registration No. 333-283113**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Post-Effective Amendment No. 1** 

**to**

 **FORM F-3<br> REGISTRATION STATEMENT<br> UNDER<br> THE SECURITIES ACT OF 1933**

**Moolec Science SA**

(Exact Name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **The Cayman Islands** | **89 Nexus Way, Camana Bay,** <br> **Grand Cayman KY1-9009**<br> **Cayman Islands** | **N/A** |
| (State or Other Jurisdiction of <br> Incorporation or Organization) | (Address, Including Zip Code, and Telephone<br> Number, Including Area Code, of Agent for Service) | (I.R.S. Employer<br> Identification Number) |

---

**Cogency Global Inc.<br> 122 East 42nd Street, 18th Floor<br> New York, NY 10168<br> (212) 947-7200**

(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)

***Copies to***:

**Matthew S. Poulter, Esq.<br> Emilio Minvielle, Esq.<br> Linklaters LLP<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> Phone: +1 (212) 903-9000<br> Fax: +1 (212) 903-9100**

Approximate date of commencement of proposed sale to the public: From time to time after this Registration Statement becomes effective.

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

Emerging growth company. ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until this registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a) may determine.**

**Explanatory Note**

This Post-Effective Amendment No. 1 is being filed pursuant to Rule 414(d) under the Securities Act of 1933 (the "Securities Act") by Moolec Science SA, a Cayman Islands exempted company limited by shares ("Moolec Science (Cayman Islands)"). Moolec Science (Cayman Islands) is the successor issuer to Moolec Science SA, a public limited liability company (*societé anonyme*) governed by the laws of the Grand Duchy of Luxembourg, or "Moolec Science (Luxembourg)". On May 22, 2025 (the "Effective Date"), Moolec Science SA changed its jurisdiction by Moolec Science (Luxembourg) discontinuing from the Grand Duchy of Luxembourg and transferring by way of continuation to the Cayman Islands as Moolec Science (Cayman Islands) pursuant to Part XII of the Companies Act (Revised) of the Cayman Islands (the "Redomiciliation"). On the Effective Date, all of the shares of Moolec Science (Luxembourg), par value $0.10 per share (the "Ordinary Shares") by operation of law became shares of Moolec Science (Cayman Islands), par value $0.10 per share (the "Shares").

On May 14, 2025, Moolec Science (Luxembourg) made effective a reverse stock split of its Ordinary Shares (the "Reverse Stock Split") on the consolidation ratio of ten-to-one (the "Consolidation Ratio"), pursuant to which holders of Ordinary Shares received one Ordinary Share for every ten Ordinary Shares held.

After completion of the Reverse Stock Split, all references to our Ordinary Shares, share data, per share data and related information has been adjusted for the Consolidation Ratio to reflect the Reverse Stock Split. The Reverse Stock Split has consolidated each ten of our Ordinary Shares into one Ordinary Share, without any change in the par value. Upon completion of the Reverse Stock Split, no fractional Ordinary Shares were issued, and any fractional Ordinary Shares resulting from the Reverse Stock Split were rounded up to the nearest whole Ordinary Share. Except for the adjustments that resulted from the treatment of fractional shares, the Reverse Stock Split did not have any dilutive effect on our shareholders.

In accordance with Rule 414(d) under the Securities Act, Moolec Science (Cayman Islands), as the successor issuer to Moolec Science (Luxembourg), hereby expressly adopts the Registration Statement (as defined below) as its own registration statement (except as specifically modified by this Post-Effective Amendment No. 1) for all purposes of the Securities Act and the Securities Exchange Act of 1934 (as amended, the "Exchange Act", as updated by subsequent filings under the Exchange Act.

Pursuant to Rule 429 under the Securities Act, the prospectus included in this Registration Statement is a combined prospectus relating to (i) the Registration Statement on Form F-1 (No. 333-269439) previously filed by the Registrant (the "Prior Registration Statement") and (ii) a new Registration Statement on Form F-3 that the Registrant files herein, as amended (the "Registration Statement").

For the purposes of this Registration Statement, references to the "Company," "Moolec," "we," "our," "us" and similar terms mean, as of any time prior to the Effective Date, Moolec Science (Luxembourg) and, after the Effective Date, Moolec Science (Cayman Islands). The information contained in this Amendment sets forth additional information to reflect the Redomiciliation and Reverse Stock Split. All documents filed by the Company under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act before the Reverse Stock Split will not reflect the terms of the Reverse Stock Split or change in our number of Shares as a result thereof. Further, all documents filed by the Company under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act before the Effective Date will not reflect the terms of the Redomiciliation or change in our jurisdiction that was effected as a result thereof.

For the purposes of this Registration Statement, we have not included a management's discussion and analysis for Bioceres Group Limited as it would be substantially the same as that of Bioceres Crop Solutions Corp., which is included in its latest Form 20-F, which we have incorporated by reference, except for share of profit or loss of joint ventures and associates information, presented as "Share of profit or loss of joint ventures and associates" in Bioceres Group's financial statements for the year ended June 30, 2024. The share of profit or loss of joint ventures and associates information includes equity investments that Bioceres Group holds as a result of equity interests held by Theo I, which has investments in Bioceres Crop Solutions Corp. and Moolec Science SA which varies significantly over the fiscal years. The loss resulting from the share in the profit of joint ventures and associates increased by a loss of $68,732,755 to a loss of $21,023,150 for the year ended June 30, 2024 from a gain of $47,709,605 in the year ended June 30, 2023, mainly as a result of a significant reduction in investments in our Shares, in the amount of $30,093,590, and in Bioceres Crop Solutions Corp.'s shares, which amounted to $10,338,593, offset by the appreciation of other investments, in the amount of $14,390,561.

No additional securities are being registered under this Post-Effective Amendment No. 1. All filing fees payable in connection with the registration of the shares registered by the Registration Statement were paid by the Registrant at the time of the filing of the Registration Statement.

**The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.**

**SUBJECT TO COMPLETION, DATED JUNE 16, 2025**

**PROSPECTUS**

**Up to 1,500,000 Shares offered by the Company**

**11,110,000 Shares underlying Warrants and**

**3,581,828 Shares**

**Offered by Selling Securityholders**

*(incorporated in the Cayman Islands)*

This prospectus relates, in part, to the issuance by us of up to 11,110,000 ordinary shares of Moolec Science SA (the "Company"), of par value of $0.10 per share ("Shares"), which includes: (i) 6,900,000 Shares that may be issued upon exercise of the Public Warrants, and (ii) 4,210,000 Shares that may be issued upon exercise of the Private Warrants. We refer to the Public Warrants and the Private Warrants together as the "Warrants." The Warrants were originally issued by LightJump. Pursuant to the Assignment, Assumption and Amendment Agreement, the Warrants were automatically converted into Warrants to purchase our Shares on the closing of the Business Combination among us, LightJump, Moolec Science Limited and Moolec Acquisition, Inc. (the "Business Combination").

This prospectus also relates, in part, to the offer and sale from time to time by the Selling Securityholders, or their permitted transferees, of up to 3,581,828 of our Shares, which includes (i) 3,100,000 Shares issued to holders of Shares in the Business Combination as a result of the Exchange, (ii) 352,240 Shares issued as a result of the Merger, (iii) 26,226 Shares issued pursuant to the applicable Company SAFE, (iv) 23,252 Shares that were freely allotted to the Company's Chief Financial Officer and (v) 80,110 Shares issued in connection with the Backstop Agreement. These Shares were initially issued as Ordinary Shares, which, pursuant to the Redomiciliation, became by operation of law Shares on the Effective Date.

This prospectus also relates to 1,500,000 Shares registered hereby for offer and resale by the Company. Pursuant to Rule 429 under the Securities Act of 1933, as amended (the "Securities Act"), this prospectus updates the Prior Registration Statement and includes Shares previously registered by us pursuant to such Prior Registration Statement.

We may, from time to time, sell Shares, directly or through underwriters, agents or dealers, on or off The Nasdaq Stock Market LLC, or Nasdaq, at prevailing market prices or at privately negotiated prices. If any underwriters, agents or dealers are involved in the sale of any of these securities, the applicable prospectus supplement will set forth the names of the underwriters, agents or dealers and any applicable fees, commissions or discounts.

Our Shares and Warrants are listed on the Nasdaq Global Market ("Nasdaq") under the symbols "MLEC" and "MLECW," respectively. The last sale price of our Shares on June 11, 2025 was $7.05 per share. The aggregate market value of our outstanding Shares held by non-affiliates, or public float, as of June 11, 2025, was approximately $5,097,408, which was calculated based on 722,729 Shares held by non-affiliates and the price of $7.05 per share, which was the closing price of our Shares on Nasdaq on June 11, 2025. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell our securities in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75 million. During the 12 calendar months prior to and including the date of this prospectus, we have not offered or sold any securities pursuant to General Instruction I.B.5 of Form F-3.

The Shares are being offered by the Selling Securityholders identified herein and we will not receive any proceeds from the sale of the securities under this prospectus by the Selling Securityholders.

Information regarding the Selling Securityholders, the number of Shares that may be sold by them, and the times and manner in which they may offer and sell the Shares under this prospectus is provided under the sections titled "*Selling securityholders*" and "*Plan of Distribution*," respectively. We do not know when or in what amount the Selling Securityholders may offer the securities for sale. The Selling Securityholders may sell any, all, or none of the securities offered by this prospectus.

On May 14, 2025, we made effective a Reverse Stock Split of our Ordinary Shares pursuant to which holders of our Ordinary Shares received one share of our Ordinary Shares for every ten shares of Ordinary Shares held. Accordingly, as of the Effective Date, all Ordinary Shares resulting of the Reverse Stock Split, became, by operation of law, Shares. Unless the context expressly indicates otherwise, all references to Ordinary Shares, Shares and per share amounts referred to herein reflect the Reverse Stock Split.

**Investing in our securities involves risks. See "*Risk Factors*" beginning on page 5 to read about factors you should consider before buying our securities.**

**Neither the Securities and Exchange Commission nor any state or foreign securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

Prospectus dated , 2025.

**TABLE OF CONTENTS**

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| | |
|:---|:---|
|  | **Page** |
| [About This Prospectus](#via_001) | ii |
| [Incorporation of Certain Information by Reference](#via_002) | iv |
| [Summary](#via_003) | 1 |
| [Risk Factors](#via_004) | 5 |
| [Special Note Regarding Forward-Looking Statements](#via_005) | 8 |
| [Enforcement of Civil Liabilities](#via_006) | 9 |
| [Capitalization](#via_007) | 10 |
| [Selling Securityholders](#via_008) | 11 |
| [Use of Proceeds](#via_009) | 14 |
| [Description of Securities](#via_010) | 15 |
| [Taxation](#via_011) | 18 |
| [Plan of Distribution](#via_012) | 19 |
| [Legal Matters](#via_013) | 25 |
| [Experts](#via_014) | 26 |
| [Where You Can Find More Information](#via_015) | 27 |

---

i

**About This Prospectus**

This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission (the "SEC") utilizing a shelf registration process. Under this shelf process, any of the securities identified in this prospectus may be offered together or separately in one or more series, if any. We may offer and sell any combination of the securities identified in this prospectus.

This prospectus provides you with a general description of the securities we may offer. Each time we sell securities, we will provide a prospectus supplement that will contain specific information about the terms of those securities and their offering, including the specific amounts, prices and terms of the offered securities. The prospectus supplement may also add, update or change information contained in this prospectus. You should read both this prospectus and any prospectus supplement together with the additional information described under the headings "*Risk Factors*," "*Where You Can Find More Information*" and "*Incorporation of Certain Information by Reference*."

This prospectus and any accompanying prospectus supplement do not contain all of the information included in the registration statement as permitted by the rules and regulations of the SEC. For further information, we refer you to the registration statement on Form F-3, including its exhibits. If you are in a jurisdiction where offers to sell, or solicitations of offers to purchase, the securities offered by this document are unlawful, or if you are a person to whom it is unlawful to direct these types of activities, then the offer presented in this document does not extend to you.

You should assume that the information in this prospectus or any prospectus supplement, as well as the information incorporated by reference in this prospectus or any prospectus supplement, is accurate only as of the date of the documents containing the information, unless the information specifically indicates that another date applies. Our business, financial condition, results of operations and prospects may have changed since those dates.

Wherever references are made in this prospectus to information that will be included in a prospectus supplement, to the extent permitted by applicable law, rules or regulations, we may instead include such information or add, update or change the information contained in this prospectus by means of a post-effective amendment to the registration statement of which this prospectus is a part, through filings we make with the SEC that are incorporated by reference in this prospectus or by any other method as may then be permitted under applicable law, rules or regulations.

Unless otherwise indicated or the context otherwise requires, all references in this prospectus to "MLEC" or the "Company," "Moolec," "we," "our," "ours," "us" or similar terms refer to Moolec Science SA, together with its subsidiaries. The Shares that may be offered using this prospectus are referred to collectively as the securities.

In this prospectus, unless otherwise indicated or unless the context otherwise requires:

"*Agreement on Funds Flow*" means the agreement on funds flow, dated as of December 30, 2022, by and among Lightjump Acquisition Corporation, Lightjump One Founders, LLC, Moolec Science Limited, Moolec Acquisition, Inc. and Moolec Science SA.

"*Assignment, Assumption and Amendment Agreement*" means the assignment, assumption and amendment agreement dated December 30, 2022, by and between the Company, LightJump and Continental;

"*Backstop Agreement*" means the backstop agreement dated June 14, 2022 by and between UGVL, UG Holdings, LLC, Theo and the Sponsor, guaranteeing, severally but not jointly, the funding of certain amounts as set forth therein and complemented by the memorandum of understanding dated December 30, 2022 in connection thereto.

"*Business Combination Agreement*" means the business combination agreement dated June 14, 2022, by and among LightJump, Moolec Science Limited, the Company, and Moolec Acquisition, Inc.

ii

"*Closing*" means the time when the closing of the Business Combination occurred pursuant to the Business Combination Agreement.

"*Closing Date*" means December 30, 2022.

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

"*Company SAFE*" means each of the simple agreement for future equity by and between Moolec Science Limited and the Company SAFE Holder named therein (each, a "Company SAFE Holder") (each, an "Original SAFE") or any simple agreement for future equity between the Company and that Company SAFE Holder issued in consideration for the contribution by the Company SAFE Holder of its rights in the Original SAFE to the Company (in which case the Original SAFE ceased to be a "Company SAFE") with such adjustments required under Luxembourg law.

"*Contingency Shares*" means the 25,500 Sponsor's Shares placed in an escrow account pursuant to the Agreement on Funds Flow, dated December 30, 2022, by and among SPAC, the Company, and the Sponsor, which were held in escrow for a period of 12 months following the Closing Date and used to satisfy Contingent Liabilities (as defined in the Agreement on Funds Flow) under the conditions and terms set forth in the Agreement on Funds Flow, or returned to the Sponsor thereafter, as applicable.

"*Continental*" means Continental Stock Transfer & Trust Company, the Company's transfer agent and warrant agent.

"*DGCL*" means Delaware General Corporation Law.

"*Effective Date*" means May 22, 2025.

"*Exchange*" means the transactions contemplated in the Business Combination Agreement that occurred at the Exchange Effective Time.

"*Insud*" means Invim Corporativo S.L.

"*IPO*" means LightJump's initial public offering of units, consummated on January 12, 2021.

"*Merger*" means the merger of Moolec Acquisition, Inc. with and into LightJump, pursuant to which LightJump survived such merger and became a direct wholly-owned subsidiary of the Company.

"*Ordinary Shares*" means ordinary shares of Moolec Science (Luxembourg), with par value of, prior to the Reverse Stock Split, $0.01 per share, and, after the Reverse Stock Split, $0.10.

"*Private Warrants*" means the 3,450,000 warrants to purchase SPAC Common Stock sold in a private placement in the IPO, and which were subsequently assumed by the Company pursuant to the Assignment, Assumption and Amendment to the Warrant Agreement.

"*Public Warrants*" means the 11,500,000 warrants to purchase SPAC Common Stock which were sold in the IPO, and which were subsequently assumed by the Company pursuant to the Assignment, Assumption and Amendment to the Warrant Agreement.

"*Selling Securityholders*" has the meaning given to it in the Prior Registration Statement.

"*Shares*" means ordinary shares of Moolec Science (Cayman), with par value of $0.10 per share.

"*SPAC*" or "*LightJump*" means LightJump Acquisition Corporation.

"*SPAC Common Stock*" means SPAC's common stock, par value $0.0001 per share.

"*Sponsor*" means LightJump One Founders, LLC, a Delaware limited liability company.

"*Theo*" means THEO I SCSp.

"*UGVL*" means Union Group Ventures Limited.

iii

**Incorporation of Certain Information by Reference**

This registration statement incorporates important business and financial information about that is not included in or delivered with the registration statement. The SEC allows us to "incorporate by reference" information filed with the SEC, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this registration statement, and certain later information that we file with the SEC will automatically update and supersede this information.

This document incorporates by reference the following documents that have previously been filed with the SEC:

● our annual report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1937737/000121390024092168/ea0218545-20f_moolecsci.htm) for the year ended June 30, 2024 (File No. 001-41586), filed with the SEC on October 30, 2024 (the "Annual Report");

● the annual report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1769484/000110465924112589/biox-20230630x20f.htm) of Bioceres Crop Solutions Corp. (File No. 001-38836) for the year ended June 30, 2024 filed with the SEC on October 30, 2024; and

● any of future filings made with the Commission after the date of this registration statement, and any future reports on Form 6-K furnished to the Commission pursuant to Section 13(a) or 15(d) of the United States Securities Exchange Act of 1934, as amended (the "Exchange Act") after the date of this registration statement that are identified in those forms as being incorporated by reference into this registration statement.

In addition, we are incorporating by reference any documents we may file under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act on or after the date hereof, and prior to the effectiveness of this registration statement, provided, however, that we are not incorporating by reference any information furnished (but not filed), except as otherwise specified herein.

Information that we file with the SEC will automatically update and supersede the information included in this prospectus or previously incorporated by reference into this prospectus. All information appearing in this prospectus is qualified in its entirety by the information and financial statements, including the notes, contained in the documents that we incorporate by reference in this prospectus.

We will provide to each person, including any beneficial owner, to whom a prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in the prospectus but not delivered with the prospectus.

You may request a copy of these filings, at no cost, by writing or telephoning us at the following address:

Ogier Global (Cayman) Limited

89 Nexus Way, Camana Bay,

Grand Cayman KY1-9009

Cayman Islands

You should rely only on the information that we incorporate by reference or provide in this prospectus or the accompanying prospectus supplement. We have not authorized anyone to provide you with different information. You should not assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the front of those documents. Documents incorporated by reference are available on the SEC's website at www.sec.gov and from other sources. You may read and copy any materials filed with the SEC at the SEC's Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Additionally, the SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC (http://www.sec.gov).

iv

**Summary**

 

*This summary highlights selected information appearing elsewhere or incorporated by reference herein; it does not contain all of the information that is important to you. You should read this prospectus, including the information incorporated by reference, in its entirety. Investors should carefully consider the information set forth under the "Risk Factors" section. Unless the context otherwise requires, as used in this prospectus, the terms "Company," "Moolec," "we," "us," and "our" refer to Moolec Science SA and all of its subsidiaries as of the date of this prospectus. "Moolec Science SA" refers only to Moolec Science SA and not its subsidiaries as of the date of this prospectus. For purposes of clarity, in some places in this prospectus, we refer to Moolec Science SA prior to the Effective Date as "Moolec Science (Luxembourg)" and after the Effective Date as "Moolec Science (Cayman Islands)."*

 

**Our Company**

We are an exempted company limited by shares registered under the laws of the Cayman Islands. We were incorporated under the laws of the Grand Duchy of Luxembourg on May 23, 2022, as a public limited liability company (*société anonyme*) governed by the laws of the Grand Duchy of Luxembourg. On the Effective Date, we transferred by way of continuation our corporate existence from the Grand Duchy of Luxembourg to the Cayman Islands (the "Redomiciliation"). Our registered office is at the office of Ogier Global (Cayman) Limited at 89 Nexus Way, Camana Bay, Grand Cayman KY1-9009, Cayman Islands and we are registered by way of continuation as an exempted company with the Registrar of Companies in the Cayman Islands under number 421988. Our principal website address is www.moolecscience.com and our Investor Relations website address is ir.moolecscience.com. We do not incorporate the information contained on, or accessible through, our websites into this prospectus, and you should not consider it a part of this prospectus.

**About Moolec**

We are a science-based ingredient company, and we believe we are pioneers in the use of molecular farming technology for developing ingredients for food, pet food, animal feed and dietary supplements. Our mission is to create unique food ingredients by engineering plants with science and technology. Our purpose is to redefine the way we produce animal proteins for the good of the planet. Our technological approach aims to have the cost structure of plant-based solutions with the organoleptic properties and functionality of animal-based ones. Our technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. Our product portfolio and pipeline leverage the agronomic efficiency of broadly used target crops, like soy, pea, and safflower. We have an industrial and commercial R&D capability to complement our molecular farming technology. We also have a growing international patent portfolio (25, both granted and pending) for our technology. We have a diverse team of PhDs and food insiders, and operates in the United States, Europe, and South America. Molecular farming can be defined as the technology used to genetically modify plants to produce valuable biological substances. Molecular farming utilizes plants as natural bioreactors to grow and harvest these substances. Molecular farming therefore differs from other genetic engineering applications such as metabolic engineering (where the expressed protein has a catalytic activity in plants and the value-added product is a particular metabolite) and agronomic engineering (where the expressed protein confers beneficial agronomic properties such as pest or disease resistance, stress tolerance, or increased yields). Molecular farming enables the synthesis of valuable biological substances in any seed crop, selecting each gene or molecule for its ability to add value. In the case of oils or proteins, that value could be measured in terms of a targeted functionality trait such as taste, texture, color or nutritional value. The resulting product can be used as ingredients in different applications such as food and feed, providing better-tasting, more functional, and affordable science-based ingredients. We believe that this technological platform has the ability to capitalize on science-based ingredients scale that extensive agriculture entails to achieve affordability and that it is also cost-efficient due to the fact that it leverages biology, using plants and their inputs — sun, water, and soil — as small factories. Plants are grown through traditional farming practices that result in economies of scale through high productivity volume production.

With the ingredients we develop, we expect to address mainly the global processed meat products ingredients markets, which we estimate to be an approximately $30 billion market. Our business model focuses on R&D, manufacturing and farming.

Molecular farming is a technological platform that has the potential to combine, modify and enhance all sorts of crops with valuable biological substances, which could allow us to possibly consider other market opportunities. Such possible market opportunities include milk, egg, chicken, and fish replacements, or other industries such as alternative biomaterials, biocosmetics, pharmaceuticals, biofuels, among others.

We hold a growing international patent portfolio for our technologies, which is run by a diverse team of experts, such as Ph.Ds and food insiders who have a robust background in the traditional food and meat industries. Research, development and innovation are core elements of our business strategy, and we believe they represent a critical competitive advantage for us.

On April 24, 2023, we acquired ValoraSoy S.A.

Our main shareholders include Nasdaq-listed Bioceres Crop Solutions Corp. (NASDAQ: BIOX), a fully integrated provider of crop productivity solutions enabling the transition to a carbon neutral agriculture, Theo I, a life sciences venture capital enterprise, and UGVL, a private equity management firm, as well as Insud, an Argentine-based life & science holding with business in the pharmaceutical, agricultural, forestry, biotech, cultural and renewable energy industries through its affiliates.

**Recent Developments**

**Business Combination with Bioceres Group Limited, Gentle Tech and Nutrecon**

On April 17, 2025, the Company, Bioceres Group Limited (formerly, Bioceres Group PLC) ("Bioceres Group"), Gentle Technologies Corp ("Gentle Tech"), and Nutrecon LLC ("Nutrecon") entered into a business combination agreement (the "Bioceres Group Business Combination Agreement"), pursuant to which several parties will transfer their respective holdings in Bioceres Group, Nutrecon and Gentle Tech (together, the "Contributed Entities") to Moolec Science (Cayman Islands). In exchange, Moolec Science (Cayman Islands) will issue a combination of newly issued shares and warrants of Moolec Science (Cayman Islands) to the shareholders of the Contributed Entities.

Subject to the terms and conditions of the Bioceres Group Business Combination Agreement, the business combination is expected to result in an enlarged company structure, with the Company as the parent company. For more information, see our report on Form 6-K (File No. 001-41586) furnished to the SEC on April 18, 2025, incorporated herein by reference.

**Redomiciliation**

On the Effective Date, we changed our jurisdiction of domicile from the Grand Duchy of Luxembourg to the Cayman Islands. We discontinued as a Luxembourg company and transferred by way of continuation to the Cayman Islands as an exempted company limited by shares registered under the laws of the Cayman Islands. All of the Ordinary Shares of Moolec Science (Luxembourg) by operation of law became Shares of Moolec Science (Cayman Islands), par value $0.10 per share. Our Shares and Warrants are listed on the Nasdaq Global Market ("Nasdaq") under the symbols "MLEC" and "MLECW," respectively.

**Reverse Stock Split**

On March 11, 2025, we received a determination letter (the "Determination Letter") from the staff of the Listing Qualifications Department (the "Staff") of Nasdaq, notifying us that, as the closing bid price of our listed securities has remained at less than $1.00 per share over 30 consecutive business days as of September 10, 2024, and had not increased to $1.00 for more than 10 consecutive business days thereafter, we were not compliant with Nasdaq Listing Rule 5550(a)(2). Additionally, we were not eligible for a second 180-day compliance period, as we did not comply with the $5,000,000 minimum stockholders' equity initial listing requirement for The Nasdaq Capital Market.

On March 13, 2025, we appealed the Determination Letter to the Nasdaq Hearings Panel (the "Panel") and presented our plan to regain and thereafter maintain compliance with Nasdaq Listing Rule 5550(a)(2) through the implementation of the Reverse Stock Split.

On April 3, 2025, we received an exception letter from the Panel, which granted us a temporary exception to regain compliance with Nasdaq Listing Rule 5550(a)(2).

On April 22, 2025, we held our 2025 Redomiciliation EGM (as defined below), which, among other matters, considered and approved the Reverse Stock Split. Further, on April 22, 2025, our board of directors resolved to approve the Consolidation Ratio at ten-to-one.

On May 14, 2025, we made effective the Reverse Stock Split. Under the approved Consolidation Ratio, every ten Ordinary Shares, each with a par value of U$0.01, issued and outstanding, were automatically consolidated into one validly issued and non-assessable Ordinary Share, with a new par value of $0.10 per Ordinary Share. Upon completion of the Reverse Stock Split, no fractional Ordinary Shares were issued, and any fractional Ordinary Shares resulting from the Reverse Stock Split were rounded up to the nearest whole Ordinary Share. Following the Reverse Stock Split, our Ordinary Shares continued to trade under the symbol "MLEC" and under the new CUSIP code L64875 120, and our Public Warrants have continued to trade under the symbol "MLECW" and under the CUSIP code L64875 112.

As a result of the Reverse Stock Split, our proforma loss per share previously furnished on the 6-K of April 18, 2025 is hereby be amended as follows:

● for the year ended June 30, 2024: $0.51, calculated as "Profit (loss) before income tax", which amounted to a loss of $6,526,347, divided by share amount of 12,783,115;

● for the six-month period ended December 31, 2024: $1.13, calculated as "Profit (loss) before income tax", which amounted to a loss of $14,480,385, divided by share amount of 12,783,115.

**2025 Extraordinary General Meeting**

On April 22, 2025, we held an extraordinary general meeting of shareholders (the "2025 Redomiciliation EGM"), in which our shareholders approved, among other matters, the implementation of the Reverse Stock Split and delegated powers to the board of directors to determine the Consolidation Rate. Additionally, the 2025 Redomiciliation EGM approved the transfer of the Company's registered office from the Grand Duchy of Luxembourg to the Cayman Islands, which included related corporate structural changes, the adoption of new Cayman memorandum and articles of association, the continuation of the Company as an exempted company limited by shares registered under the laws of the Cayman Islands, and delegation of powers to manage the administrative aspects of the Redomiciliation. Furthermore, the meeting approved the appointment of Diego Nicolás Marcos and Oscar Alejandro León Bentancor as members of the board of directors for the period ending June 30, 2025.

**Implications of Being an "Emerging Growth Company" and a "Foreign Private Issuer"**

We qualify as an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). As an "emerging growth company," we may take advantage of certain exemptions from specified disclosure and other requirements that are otherwise generally applicable to public companies. These exemptions include:

● not being required to comply with the auditor attestation requirements for the assessment of our internal control over financial reporting provided by Section 404 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act");

● reduced disclosure obligations regarding executive compensation; and

● not being required to hold a nonbinding advisory vote on executive compensation or seek shareholder approval of any golden parachute payments not previously approved.

We may take advantage of these reporting exemptions until it is no longer an "emerging growth company." We expect to remain an "emerging growth company" for the foreseeable future.

We are also considered a "foreign private issuer" and are required to report under the Securities Exchange Act of 1934 (as amended, the "Exchange Act") as a non-U.S. company with "foreign private issuer" status. This means that, even after we no longer qualify as an "emerging growth company," as long as we qualify as a "foreign private issuer" under the Exchange Act, we will be exempt from certain provisions of the Exchange Act that are applicable to U.S. public companies, including:

● the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act;

● the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short period of time; and

● the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8-K, upon the occurrence of specified significant events.

We may take advantage of these reporting exemptions until such time as we are no longer a "foreign private issuer." We could lose our status as a "foreign private issuer" under current SEC rules and regulations if more than 50% of our outstanding voting securities become directly or indirectly held of record by U.S. holders and any one of the following is true: (i) the majority of our directors or executive officers are U.S. citizens or residents; (ii) more than 50% of our assets are located in the United States; or (iii) our business is administered principally in the United States.

We may choose to take advantage of some but not all of these reduced burdens. We have taken advantage of reduced reporting requirements in this prospectus. Accordingly, the information contained in this prospectus may be different from the information you receive from our competitors that are public companies, or other public companies in which you have made an investment.

As a foreign private issuer incorporated in the Cayman Islands with our principal listing on the Nasdaq Global Market, we follow the laws of the Cayman Islands, our "home country" for corporate governance practices, in lieu of the provisions of the Nasdaq Stock Market's Marketplace Rule 5600 series that apply to the constitution of a quorum for any meeting of shareholders, the composition and independence requirements of the board of directors, the Nominations Committee and the Compensation Committee and the requirement to have regularly scheduled meetings at which only independent directors are present. The Nasdaq Stock Market's rules also provide for the involvement of independent directors in the selection of director nominees. However, we rely on our home country practices, in lieu of these requirements, which do not require us to have a majority of our board of directors to be independent, permit our nominating and governance committee to be comprised of shareholder representatives and do not require us to hold regular executive sessions in which only independent directors shall be present.

**Risks Factors**

Before making a decision to invest in our securities, you should carefully consider the risks described under "*Summary Risk Factors*" and "*Risk Factors*" in this prospectus, any applicable prospectus supplement, in our most recent Annual Report on Form 20-F, and in any updates to those risk factors in our reports on Form 6-K incorporated herein, together with all of the other information appearing or incorporated by reference in this prospectus, in light of your particular investment objectives and financial circumstances.

**Risk Factors**

 

*Investing in the securities offered using this prospectus involves risk. Before you decide to buy our securities, you should carefully consider the risks described under the heading "Risk Factors" in our Annual Report, which is incorporated herein by reference, in the applicable prospectus supplement and in other documents incorporated by reference into this prospectus. If any of these risks actually occur, our business, financial condition and results of operations could suffer, and the trading price and liquidity of the securities offered using this prospectus could decline, in which case you may lose all or part of your investment. Please see "Where You Can Find More Information" and "Incorporation of Documents by Reference" for information on where you can find the documents we have filed with or furnished to the SEC and which are incorporated into this prospectus by reference.*

 

**Risks Related to Investment in a Cayman Islands Company and Our Status as a Foreign Private Issuer**

 ****

***As a "foreign private issuer" under the rules and regulations of the SEC, we are permitted to, and will, file less or different information with the SEC than a company incorporated in the United States or otherwise subject to these rules, and will follow certain home country corporate governance practices in lieu of certain Nasdaq requirements applicable to U.S. issuers. This may limit the information available to holders of the Shares and may pose additional risks and less regulatory protection for our shareholders in comparison to domestic issuers.***

We are considered a "foreign private issuer" under the Exchange Act and we are therefore exempt from certain rules under the Exchange Act, including the proxy rules, which impose certain disclosure and procedural requirements for proxy solicitations for U.S. and other issuers. Moreover, we are not required to file periodic reports and financial statements with the SEC as frequently or within the same time frames as U.S. companies with securities registered under the Exchange Act. We currently prepare our financial statements in accordance with IFRS. We will not be required to file financial statements prepared in accordance with or reconciled to the accounting principles generally accepted in the United States of America ("U.S. GAAP") so long as our financial statements are prepared in accordance with IFRS as issued by the International Accounting Standards Board. We are not required to comply with Regulation FD, which imposes restrictions on the selective disclosure of material information to shareholders. In addition, our officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions of Section 16 of the Exchange Act and the rules under the Exchange Act with respect to their purchases and sales of our securities.

In addition, as a "foreign private issuer" whose shares are listed on the Nasdaq, we are permitted to, and will, follow certain home country corporate governance practices in lieu of certain Nasdaq Global Market requirements. A foreign private issuer must disclose in its Annual Reports filed with the Securities and Exchange Commission, or the SEC, each Nasdaq requirement with which it does not comply followed by a description of its applicable home country practice. As an exempted company incorporated in the Cayman Islands and listed on the Nasdaq, we currently intend to follow our home country practice with respect to the composition of our board of directors and nominations committee and executive sessions. Unlike the requirements of the Nasdaq, the corporate governance practice and requirements in the Cayman Islands do not require us to have a majority of our board of directors to be independent; do not require us to establish a nominations committee; and do not require us to hold regular executive sessions in which only independent directors shall be present. Such Cayman Islands home country practices may afford less protection to holders of our Shares.

We could lose our status as a "foreign private issuer" under current SEC rules and regulations if more than 50% of our outstanding voting securities become directly or indirectly held of record by U.S. holders and one of the following is true: (i) the majority of our directors or executive officers are U.S. citizens or residents; (ii) more than 50% of our assets are located in the United States; or (iii) our business is administered principally in the United States. If we lose our status as a foreign private issuer in the future, we will no longer be exempt from the rules described above and, among other things, will be required to file periodic reports and annual and quarterly financial statements as if it we were a company incorporated in the United States. If this were to happen, we would likely incur substantial costs in fulfilling these additional regulatory requirements and members of our management would likely have to divert time and resources from other responsibilities to ensuring these additional regulatory requirements are fulfilled.

As a "foreign private issuer," we file an annual report on Form 20-F within four months of the close of each fiscal year ended June 30 and furnish reports on Form 6-K relating to certain material events promptly after we publicly announce these events. However, because of the above exemptions for foreign private issuers, which we intend to rely on, our shareholders will not be afforded the same information generally available to investors holding shares in public companies that are not foreign private issuers.

***We are incorporated under the laws of the Cayman Islands. Accordingly, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. Federal courts may be limited.***

We are an exempted company incorporated under the laws of the Cayman Islands with limited liability and a majority of our officers and directors are residents of jurisdictions outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon our directors or executive officers, or enforce judgments obtained in the United States courts against our directors or officers.

Our corporate affairs are governed by our memorandum and articles of association, as amended from time to time (the "Articles"), the Companies Act (as the same may be supplemented or amended from time to time), and the common law of the Cayman Islands. We are also subject to the federal securities laws of the United States. The rights of shareholders to take action against the directors, actions by minority shareholders and the fiduciary responsibilities of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman Islands as well as from English common law. Decisions of the English courts, and particularly the Supreme Court and the Court of Appeal are generally of persuasive authority, but are not binding in the courts of the Cayman Islands. Decisions of courts in other Commonwealth jurisdictions are similarly of persuasive, but not binding, authority. The rights of our shareholders and the fiduciary responsibilities of our directors under Cayman Islands law are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States, and certain states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law. In particular, the Cayman Islands has a less developed body of securities laws as compared to the United States. In addition, Cayman Islands companies may not have standing to initiate a shareholder derivative action in a Federal court of the United States.

We have been advised by Ogier (Cayman) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States obtained against us or our directors or officers predicated upon the civil liability provisions of the federal securities laws of the United States or any state in the United States; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us or our directors or officers predicated upon the civil liability provisions of the federal securities laws of the United States or any state in the United States, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement or treaty between the United States and the Cayman Islands providing for enforcement of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive, given by a court of competent jurisdiction (the courts of the Cayman Islands will apply the rules of Cayman Islands private international law to determine whether the foreign court is a court of competent jurisdiction), and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). Furthermore, it is uncertain that Cayman Islands courts would enforce: (1) judgments of courts in the United States obtained in actions against us or other persons that are predicated upon the civil liability provisions of the United States federal securities laws; or (2) original actions brought against us or other persons predicated upon the Securities Act. Ogier (Cayman) LLP has informed us that there is uncertainty with regard to Cayman Islands law relating to whether a judgment obtained from the courts of the United States under civil liability provisions of the securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. A Cayman Islands court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

As a result of all of the above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members of the board of directors or controlling shareholders than they would as public shareholders of a United States company.

***Economic substance legislation of the Cayman Islands may adversely impact us or our operations.***

The Cayman Islands, together with several other non E.U. jurisdictions, have legislation aimed at addressing concerns raised by the Council of the E.U. as to offshore structures engaged in certain activities, which attract profits without real economic activity. With effect from January 1, 2019, the International Tax Co-operation (Economic Substance) Act (Revised) (the "Economic Substance Act") came into force in the Cayman Islands introducing certain economic substance requirements for in-scope Cayman Islands entities which are engaged in certain relevant activities. As the Company is a Cayman Islands company, its compliance obligations under the Economic Substance Act include filing annual notifications, which need to state whether we are carrying out any relevant activities and whether we are claiming an exemption from the obligations to meet the economic substance tests to the extent required under the Economic Substance Act (the "ES Test"). If we are carrying out such relevant activities, or we are claiming such an exemption, we are further required to file annually a report as to whether we have satisfied the ES Test or the basis on which we are claiming such exemption. As it is a relatively a new regime, it is anticipated that the Economic Substance Act will evolve over time and be subject to further clarification and amendments. We may need to allocate additional resources to keep updated with these developments and may have to make changes to our operations in order to comply with all requirements under the Economic Substance Act. Failure to satisfy the requirements as set out in the Economic Substance Act may subject the Company to enforcement action (including administrative penalties) under the Economic Substance Act.

***We may become subject to taxation in the Cayman Islands which would negatively affect our results.***

We are a Cayman Islands exempted company. Exempted companies are Cayman Islands companies conducting business mainly outside the Cayman Islands and, as such, are exempted from complying with certain provisions of the Companies Act. As an exempted company, we will apply for a tax exemption undertaking from the Cayman Islands government that, in accordance with Section 6 of the Tax Concessions Act (As Revised) of the Cayman Islands, for a period of 30 years from the date of the undertaking, no law which is enacted in the Cayman Islands imposing any tax to be levied on profits, income, gains or appreciations will apply to us or our operations and, in addition, that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance tax will be payable (i) on or in respect of the shares, debentures or other obligations we have or (ii) by way of the withholding in whole or in part of a payment of dividend or other distribution of income or capital by us to our members or a payment of principal or interest or other sums due under a debenture or other obligation we have. If we were to become subject to taxation in the Cayman Islands, our financial condition and results of operations could be materially and adversely affected.

**Special Note Regarding Forward-Looking Statements**

We make forward-looking statements in this prospectus that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, results of operations, liquidity, anticipated growth strategies, anticipated trends in our industry, our potential growth opportunities, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "might," "will," "consider," "estimate," "continue," "anticipate," "intend," "target," "project," "contemplate," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar terms or expressions. The statements we make regarding the following matters are forward-looking by their nature:

● the possible effects on international commerce of new or increased tariffs, or a "trade war;"

● the impact of armed conflict in Israel and Gaza, in addition to the Ukraine, and any possible escalation of such conflicts or contagion to neighboring countries or regions;

● general economic, financial, business and political conditions in Latin America;

● our financial performance;

● our ability to maintain the listing of the Shares or warrants on Nasdaq;

● changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans;

● our ability to develop and launch new products and services;

● our ability to successfully and efficiently integrate future expansion plans and opportunities;

● the availability of raw materials used in our products and our ability to source such raw materials;

● our ability to grow our business in a cost-effective manner;

● our product development timeline and expected research and development ("R&D");

● our ability to commercialize the products developed in our R&D center;

● the implementation, market acceptance and success of our business model;

● developments and projections relating to our competitors and industry;

● our approach and goals with respect to technology;

● our expectations regarding its ability to obtain and maintain intellectual property protection and not infringe on the rights of others;

● the impact of any global viral pandemic on our business;

● changes in applicable laws or regulations;

● the outcome of any known and unknown litigation and regulatory proceedings; and

● various other factors, including without limitation those described under "*Item 3. Key Information–D. Risk Factors*" in our Annual Report.

The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason after the date of this prospectus or to conform these statements to actual results or to changes in our expectations.

**Enforcement of Civil Liabilities**

**Cayman Islands**

We are incorporated under the laws of Cayman Islands. Substantially all of our and our subsidiaries' assets are located outside the United States. Substantially all of our directors and officers and certain advisors named in this prospectus reside in Argentina. As a result, it may not be possible for investors to effect service of process within the United States upon such persons or to enforce against them or us in United States courts judgments predicated upon the civil liability provisions of the federal securities laws of the United States.

The Cayman Islands has a less exhaustive body of securities laws as compared to the United States and these securities laws provide less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the United States.

We have been advised by our Cayman Islands legal counsel, Ogier (Cayman) LLP, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States obtained against us or our directors or officers predicated upon the civil liability provisions of the federal securities laws of the United States or any state in the United States; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us or our directors or officers predicated upon the civil liability provisions of the federal securities laws of the United States or any state in the United States, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement or treaty between the United States and the Cayman Islands providing for enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive, given by a court of competent jurisdiction (the courts of the Cayman Islands will apply the rules of Cayman Islands private international law to determine whether the foreign court is a court of competent jurisdiction), and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to public policy). Furthermore, it is uncertain that Cayman Islands courts would enforce: (1) judgments of courts in the United States obtained in actions against us or other persons that are predicated upon the civil liability provisions of the United States federal securities laws; or (2) original actions brought against us or other persons predicated upon the Securities Act. Ogier (Cayman) LLP has informed us that there is uncertainty with regard to Cayman Islands law relating to whether a judgment obtained from the courts of the United States under civil liability provisions of the securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.

**Capitalization**

The table below sets forth our total capitalization (defined as long-term debt and total equity) as of the date of this prospectus, for the following scenarios: (i) historical financial information on an actual basis, (ii) historical financial information, as proforma adjusted to give effect to the Business Combination with Bioceres Group, Gentle Tech and Nutrecon. The Business Combination will be consummated through an equity exchange. Bioceres Group's, Gentle Tech's and Nutrecon's shareholders will surrender their share ownership in Bioceres Group, Gentle Tech and Nutrecon and will receive in exchange up to 7,595,851 Shares and 500,000 Warrants to purchase Shares at a strike price of $2.00 per Warrant.

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| | | |
|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** |
|  | *(in thousands of U.S. dollars)* | *(in thousands of U.S. dollars)* |
|  | **Actual** | **As Adjusted** |
| Cash and cash equivalents | 1930 | 35160 |
| **Long-term debt (excluding current portion)<sup>(1)</sup>** | **19538** | **259427** |
| **Equity** |  |  |
| Share capital | 401 | 1083 |
| Shares to be issued |  | 85 |
| Treasury shares | (1) | (21) |
| Share premium | 70152 | 133188 |
| Cost of own shares held | (304) | (1942) |
| Cumulative translation adjustment | 786 | 786 |
| Equity settled share-based payment | 2040 | 74 |
| Accumulated deficit | (70278) | (70439) |
| **Total equity** | **2796** | **62814** |
| **Total capitalization<sup>(2) (3)</sup>** | **22334** | **322241** |

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*Notes:-*

(1) Long-term debt includes Financial debt and Lease liabilities
(see our consolidated financial statements contained in our Annual Report, which is incorporated by reference in this prospectus).

(2) Total capitalization consists of long-term debt (excluding current portion) plus total equity.

(3) Total capitalization does not include 11,110,000 of outstanding Warrants with an exercise price $11.50
per Share, each entitling the holder to purchase one-tenth of a Share.

**Selling Securityholders**

This prospectus relates, in part, to the resale by the Selling Securityholders from time to time of up to 3,581,828 of our Shares, which includes (i) 3,100,000 Shares issued to holders of shares of Moolec in the Business Combination as a result of the Exchange, (ii) 352,240 Shares issued as a result of the Merger, (iii) 26,226 Shares issued pursuant to the applicable Company SAFE, (iv) 23,252 Shares that were freely allotted to the Company's Chief Financial Officer and (v) 80,110 Shares issued in connection with the Backstop Agreement. These Shares were initially issued as Ordinary Shares of Moolec Science (Luxembourg), which, pursuant to the Redomiciliation, became by operation of law Shares of Moolec Science (Cayman Islands). The Selling Securityholders may from time to time offer and sell any or all of the Shares set forth below pursuant to this prospectus and any accompanying prospectus supplement. When we refer to the "*Selling Securityholders*" in this prospectus, we mean the persons listed in the table below, and the pledgees, donees, transferees, assignees, successors, designees and others who later come to hold any of the Selling Securityholders' interest in the Shares other than through a public sale.

The following table sets forth, as of the date of this prospectus, the names of the Selling Securityholders, the aggregate number of Shares beneficially owned, and the aggregate number of Shares that the Selling Securityholders may offer pursuant to this prospectus. We have based percentage ownership on 4,012,684 Shares outstanding as of the date of this prospectus, without taking into account the number of Shares that may be issued upon exercise of the Warrants. The information provided herein is based on publicly available information, gathered from publicly available filings and other reliable sources. We cannot guarantee the completeness or accuracy of the information herein, as new information may become available. The information in this section is intended for general informational purposes only and should not be relied upon for any investment or business decisions.

We have determined beneficial ownership in accordance with the rules of the SEC and the information is not necessarily indicative of beneficial ownership for any other purpose. Unless otherwise indicated below, to our knowledge, the persons and entities named in the tables have sole voting and sole investment power with respect to all securities that they beneficially own, subject to community property laws where applicable.

We cannot advise you as to whether the Selling Securityholders will in fact sell any or all of such Shares. As such, we are unable to declare the number of Shares that the Selling Securityholders will retain after any such sale. In addition, the Selling Securityholders may sell, transfer or otherwise dispose of, at any time and from time to time, the Shares in transactions exempt from the registration requirements of the Securities Act after the date of this prospectus.

Selling Securityholder information for each additional Selling Securityholder, if any, will be set forth by prospectus supplement to the extent required prior to the time of any offer or sale of such Selling Securityholder's shares pursuant to this prospectus. Any prospectus supplement may add, update, substitute, or change the information contained in this prospectus, including the identity of each Selling Securityholder and the number of Shares registered on its behalf. A Selling Securityholder may sell or otherwise transfer all, some or none of such shares in this offering. See "*Plan of Distribution.*"

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Securities Beneficially<br> Owned prior to this Offering** | **Securities Beneficially<br> Owned prior to this Offering** | | **Securities Beneficially<br> Owned after this Offering** | **Securities Beneficially<br> Owned after this Offering** |
| <br>**Name of Selling Securityholder** | **Shares** | **Percentage<sup>(1)</sup>** | **Maximum<br> Number of<br> Securities to<br> be Sold in<br> this Offering**<br>**Shares** | **Shares** | **Percentage<sup>(1)</sup>** |
| The Biotech Company<sup>(2)</sup> | 291400 | 7.56% | 291400 |  |  |
| Union Group Ventures Ltd.<sup>(3) (5)</sup> | 15170823 | 39.34% | 1517083 |  |  |
| Bioceres Crop Solutions Corp.<sup>(6)</sup> | 186000 | 4.82% | 186000 |  |  |
| Bioceres Group PLC<sup>(7)</sup> | 60083 | 1.56% | 60083 |  |  |
| Theo I SCSp<sup>(8)</sup> | 1185270 | 35.29% | 1185270 |  |  |
| José Lopez Lecube<sup>(9)</sup> | 23252 | \* | 23252 |  |  |
| LightJump One Founders, <br> LLC<sup>(4) (10)</sup> | 190277 | 4.93% | 190277 |  |  |
| Serenity Traders Limited<sup>(11)</sup> | 6557 | \* | 6557 |  |  |
| UG Holdings, LLC<sup>(12)</sup> | 103500 | 2.68% | 103500 |  |  |
| EarlyBirdCapital Inc.<sup>(13)</sup> | 9408 | \* | 9408 |  |  |
| David Nussbaum(<sup>13)</sup> | 2000 | \* | 2000 |  |  |
| Steven Levine<sup>(13)</sup> | 2000 | \* | 2000 |  |  |
| Mike Powell<sup>(13)</sup> | 600 | \* | 600 |  |  |
| Mauro Conijeski<sup>(13)</sup> | 200 | \* | 200 |  |  |
| Amy Kaufmann<sup>(13)</sup> | 150 | \* | 150 |  |  |
| Marc Van Tricht<sup>(13)</sup> | 1200 | \* | 1200 |  |  |
| Joe Mongiello<sup>(13)</sup> | 100 | \* | 100 |  |  |
| Jillian Carter<sup>(13)</sup> | 200 | \* | 200 |  |  |
| Ed Kovary<sup>(13)</sup> | 1000 | \* | 1000 |  |  |
| Jacqueline Chang<sup>(13)</sup> | 150 | \* | 150 |  |  |
| Robert Gladstone<sup>(13)</sup> | 200 | \* | 200 |  |  |
| Coleen McGlynn<sup>(13)</sup> | 150 | \* | 150 |  |  |
| Mark Cangemi<sup>(13)</sup> | 50 | \* | 50 |  |  |
| Gleeson Cox<sup>(13)</sup> | 150 | \* | 150 |  |  |
| Tracy Fezza<sup>(13)</sup> | 150 | \* | 150 |  |  |
| Gregory Stoupnitzky<sup>(13)</sup> | 300 | \* | 300 |  |  |
| Doug Rogers<sup>(13)</sup> | 200 | \* | 200 |  |  |
| Eileen Moore<sup>(13)</sup> | 200 | \* | 200 |  |  |

---

*Notes:-*

\* Less than one percent of issues and outstanding Shares.

(1) Percentages are based on 4,012,684 Shares issued and outstanding or subscribed for as of the date of this
prospectus, without taking into account the number of Shares that may be issued upon exercise of the Warrants.

(2) The business address of The Biotech Company LLC is 1309 Coffeen Avenue Ste 1200 Sheridan, Wyoming 8280,
USA. The Biotech Company LLC is an entity controlled by Mr. Paladini, and Ms. Josefina Morixe.

(3) The business address of UGVL Limited is Craigmuir Chambers, Road Town, Tortola, VG1110, British Virgin
Islands. UGVL is an entity controlled by Mr. Juan Sartori. The business address of Mr. Sartori is Avenue D'Ostende 15/17, Monaco
98000. (4) Represents securities held by LightJump One Founders, LLC, our sponsor, of which Robert M. Bennett is
the managing member. Accordingly, all securities held by LightJump One Founders, LLC may ultimately be deemed to be beneficially held
by Mr. Bennett. The business address of Mr. Bennett is c/o LightJump One Founders, LLC 14755 Preston Road, Suite 520 Dallas, TX 75254.
LightJump One Founders, LLC (a) acquired 190,277 Shares being offered for resale under this registration statement for a purchase price
of $0.00 per share, and (b) acquired 4,210,000 Private Warrants for a purchase price of $1.00 per warrant.

(5) Union Group Ventures Ltd. (a) acquired 1,457,000 Shares for a purchase price of approximately $0.16 per
share, (b) acquired 20,028 shares from the Sponsor pursuant to the Backstop Agreement, and (c) acquired 40,055 Shares for a purchase price
of $6.67 funded to the Company pursuant to the Backstop Agreement.

(6) The business address of Bioceres Crop Solutions Corp. is Maples Corporate Services Limited, PO Box 309,
Ugland House, Grand Cayman, KY1-1104, Cayman Islands. Bioceres Crop Solutions Corp. acquired 186,000 Shares for a purchase price of approximately
$1.61 per share.

(7) The business address of Bioceres Group PLC is Highdown House, Yeoman Way, Worthing, West Sussex, United
Kingdom, BN99 3HH. Bioceres Group PLC acquired 60,083 Shares for a purchase price of $10.00 per share.

(8) The business address of Theo I SCSp is 30 boulevard Royal, L-2449 Luxembourg. Theo I SCSp (a) acquired
19,670 Shares pursuant to the Company SAFE for a purchase price of approximately $7.63 per share, (b) acquired 20,028 Shares from the
Sponsor pursuant to the Backstop Agreement, and (c) acquired 40,055 Shares for a purchase price of $6.67 funded to the Company pursuant
to the Backstop Agreement. Theo also acquired 1,162,600 Shares in connection with a business combination involving us and BG Farming Technologies
Limited.

(9) The business address of José Lopez Lecube is Intendente Becco 2380, Dpto. 32, Béccar, B1643,
Provincia de Buenos Aires, Argentina. José Lopez Lecube acquired 23,252 Shares in consideration for employment, pursuant to his
employment agreement, for a purchase price of $0.00.

(10) The total amount of 190,277 Shares being registered for resale by the Sponsor pursuant to this registration
statement includes 14,332 Contingency Shares available for resale. Further, pursuant to the settlement between the Company and EarlyBirdCapital
Inc., on March 15, 2023, the Sponsor transferred 6,408 Shares to EarlyBirdCapital Inc. on behalf of the Company and such Shares are being
registered for resale by EarlyBirdCapital Inc. pursuant to this registration statement. In addition, the Sponsor agreed to transfer 4,760
Shares to the Company to cover certain legal expenses. For the avoidance of doubt, this registration statement does not register the resale
of 4,760 Shares to be transferred to Company. See "*Significant Transactions — Business Combination*" in our Annual
Report.

(11) The business address of Serenity Traders Limited is OMC Chambers, Wickhams Cay I, Road Town, Tortola,
British Virgin Islands. Serenity Traders Limited acquired 6,557 Shares for a purchase price of $7.63 per share pursuant to the Company
SAFE.

(12) The business address of UG Holdings, LLC is 251 Little Falls Drive, Wilmington, New Castle, DE 19808.
UG Holdings, LLC acquired 103,500 Shares for a purchase price of $0.00 per share.

(13) The business address of EarlyBirdCapital Inc and its related parties is One Huntington Quadrangle, 1C15,
Melville, NY 11747. EarlyBirdCapital Inc and its related parties acquired 12,000 Shares for nominal consideration of $0.00 per share accounted
for as offering cost and acquired 6,408 Shares for consideration of $5.462 per share pursuant to the settlement between the Company and
EarlyBirdCapital Inc. See "*Significant Transactions—Business Combination*" in our Annual Report.

**Use of Proceeds**

Unless we indicate otherwise in a prospectus supplement, we plan to use the net proceeds from the sale of Shares for general corporate purposes. We will not receive any proceeds from the sale by the Selling Securityholders of Shares offered by them described in this prospectus.

**Description of Securities**

**Share Capital**

We are authorized to issue fifty billion (50,000,000,000) Shares, from which the Shares already issued under the authorized capital shall be deducted.

There were 4,012,684 Shares issued and outstanding as of the date of this registration statement on Form F-3, of which this prospectus is a part. There were also 11,110,000 Warrants outstanding, each entitling the holder to purchase one-tenth of a Share at an exercise price of $11.50 per Share.

**Share History**

On April 14, 2023, we entered into the Nomura Share Purchase Agreement and the Nomura Registration Rights Agreement with Nomura Securities International, Inc ("Nomura"), pursuant to which we have the right to sell to Nomura up to $50 million in aggregate gross purchase price of our Shares, from time to time during the three-year term of the Nomura Purchase Agreement. As of the date of this Registration Statement, the Nomura Share Purchase Agreement and the Nomura Registration Rights Agreement are suspended.

In June 2023, 360 Ordinary Shares were issued under the Nomura Share Purchase Agreement.

On October 15, 2023, we issued to Invim Corporativo S.L. an aggregate principal amount of $10,000,000 convertible notes, which can be converted into Ordinary Shares.

On April 23, 2024, 100,000 Ordinary Shares were issued under the Nomura Share Purchase Agreement

On September 17, 2024, we issued to Bioceres Crop Solutions Corp. a convertible note in an aggregate principal amount of approximately $6,600,000, which can be converted into Ordinary Shares.

On September 20, 2024, our board of directors approved the 2024 Omnibus Equity Incentive Plan, pursuant to which the maximum aggregate number of Ordinary Shares that may be issued pursuant to all awards is a number of Ordinary Shares equal to up to 13% of our issued and outstanding capital stock on a fully diluted basis.

On May 14, 2025, we made effective the Reverse Stock Split, on the Consolidation Ratio of ten-to-one. The Reverse Stock Split has consolidated each ten of our Ordinary Shares into one Ordinary Share. Upon completion of the Reverse Stock Split, no fractional Ordinary Shares were issued, and any fractional Ordinary Shares resulting from the Reverse Stock Split were rounded up to the nearest whole Ordinary Share. As a result of the Reverse Stock Split, all of the Ordinary Shares of Moolec Science (Luxembourg) had a new par value of $0.10 per Ordinary Share.

In connection with the Redomiciliation, on the Effective Date, all of the Ordinary Shares of Moolec Science (Luxembourg) by operation of law became Shares of Moolec Science (Cayman Islands), par value $0.10 per Share.

On April 22, 2025, our shareholders adopted our memorandum and articles of association effective as of May 29, 2025, pursuant to which, among other provisions, we fixed our authorized share capital at 50,000,000,000 Shares, each with a par value of $0.10 per share.

**Description of Shares**

Under the memorandum and articles of association, each Share entitles the holder (unless the Shares held by a shareholder carry no right to vote) to one vote for each Share held by that shareholder. Subject to preferences that may be applicable to any outstanding preferred shares, holders of our Shares are entitled to receive ratably all dividends, if any, declared by the board of directors out of funds legally available for dividends. Holders of our Shares do not have conversion, redemption or pre-emptive rights to subscribe to any of our securities. The rights, preferences and privileges of holders of our Shares may be subject to the rights of the holders of any of our preferred shares, which we may issue in the future on such terms and conditions as the directors of the Company may decide.

**Dividends**

The directors may from time to time declare dividends (including interim dividends) in accordance with the respective rights of the shareholders if it appears to them that they are justified by our financial position and that such dividends may lawfully be paid.

**Warrants**

Our Warrants to purchase an aggregate of 11,110,000 Shares are exercisable in accordance with the terms of the warrant agreement and amendment to the warrant agreement governing those securities. The exercise price of these warrants is $11.50 per Share, each entitling the holder to purchase one-tenth of a Share. To the extent such warrants are exercised, additional Shares will be issued, which will result in dilution to the holders of our Shares and increase the number of Shares eligible for resale in the public market sales of substantial numbers of such Shares in the public market or the fact that such warrants may be exercised could adversely affect the market price of our Shares.

**Directors**

Our directors are elected by ordinary resolution passed by the shareholders entitled to vote. There is no provision for cumulative voting.

The memorandum and articles of association require our board of directors to consist of at least five persons (save if the Company has only one member, in which case the board of directors may comprise of one (1) person only). Our board of directors currently consists of five persons. The memorandum and articles of association may be amended by a special resolution passed in accordance with the Companies Act.

Each director appointed shall be appointed for a term expiring at the conclusion of the next-following annual general meeting of the Company (unless re-elected at such annual general meeting). A director may be removed by way of ordinary resolution passed by the shareholders entitled to vote. A director's term shall also expire: (i) on the date of such director's resignation from office; (ii) on the date of such director's retirement from office; (iii) forthwith if such director is prohibited by the law of the Cayman Islands from acting as a director; (iv) forthwith if such director is made bankrupt or makes an arrangement or composition with their creditors generally; (v) forthwith if such director, in the opinion of a registered medical practitioner by whom they are being treated, is declared to have become physically or mentally incapable of acting as a director; (vi) forthwith if such director is given notice by the majority of the other directors (not being less than two in number) to vacate office; (vii) forthwith if such director dies or is made subject to any law relating to mental health or incompetence (whether by court order or otherwise); or (viii) forthwith if, without the consent of the other directors, such director is absent from meetings of directors for a continuous period of six months. Unless otherwise determined by the company by way of ordinary resolution passed by the shareholders, our board of directors has the authority to fix the amounts which shall be payable to the members of the board of directors for attendance at any meeting or for services rendered to us.

**Shareholder Meetings**

Under the memorandum and articles of association, annual general meetings are held at a time and place selected by our board of directors. The meetings may be held in or outside of the Cayman Islands. Our board of directors may determine that the shareholders entitled to receive notice of and vote at a meeting are those persons entered on the register of member at the close of business of a day determined by the board of directors. If the Company has only one shareholder, that shareholder shall represent a quorum for the purposes of that meeting. If the Company has more than one member, one or more shareholders representing not less than half of the outstanding Shares carrying the right to vote at such meeting shall constitute a quorum for the purposes of the meeting

**Dissenters' Rights of Appraisal and Payment**

Under the Companies Act, our shareholders have the right to dissent from various corporate actions, including any merger or consolidation, and receive payment of the fair value of their shares. The dissenting shareholder must follow the procedures set forth in the Companies Act to receive such payment.

**Shareholders' Derivative Actions**

Any of our shareholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the shareholder bringing the action is a holder of shares both at the time the derivative action is commenced and at the time of the transaction to which the action relates.

**Limitations on Liability and Indemnification of Officers and Directors**

The memorandum and articles of association include indemnification, to the extent permitted by law, of each existing or former director (including alternate directors), secretaries and other officers of the Company (including any investment advisors or administrators or liquidators) and their personal representatives against: (a) all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by them in or about the conduct of the Company's business or affairs or in the execution or discharge of their duties, powers, authorities or discretion; and (b) all costs, expenses, losses or liabilities incurred by them in defending (whether successfully or otherwise) any civil, criminal, administrative or investigated proceedings (whether threatened, pending or complete) concerning the Company or its affairs in any court or tribunal, whether in the Cayman Islands or elsewhere.

The limitation of liability and indemnification provisions in the memorandum and articles of association may discourage shareholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. The limitation of liability and indemnification provisions do not extend to provide any indemnity: (i) against any liability by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of their office; (ii) with respect to any matter as to which they shall have been finally adjudicated to have acted in bad faith and not in the interest of the Company; or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent jurisdiction or by the board of directors of the Company.

There is currently no pending material litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought.

**Listing**

Our Shares and Warrants of Moolec Science (Cayman Islands) are listed on the Nasdaq under the symbols "MLEC" and "MLECW," respectively.

**Transfer Agent**

The registrar and transfer agent for our Shares is Continental Stock Transfer & Trust Company.

**Taxation**

Tax considerations relating to the ownership and disposition of any of the securities offered by this prospectus will be set forth in the applicable prospectus supplement relating to the offering of those securities.

**Plan of Distribution**

This prospectus relates, in part, to the resale by the Selling Securityholders from time to time of up to 3,581,828 of our Shares, which includes (i) 3,100,000 Shares issued to holders of shares of Moolec in the Business Combination as a result of the Exchange, (ii) 352,240 Shares issued as a result of the Merger, (iii) 26,226 Shares issued pursuant to the applicable Company SAFE, (iv) 23,252 Shares that were freely allotted to our Chief Financial Officer and (v) 80,110 Shares issued in connection with the Backstop Agreement. These Shares were initially issued as Ordinary Shares of Moolec Science (Luxembourg), which, pursuant to the Redomiciliation, by operation of law became Shares of Moolec Science (Cayman Islands). We will receive up to an aggregate of $127,765,000 if all of the Warrants are exercised to the extent such Warrants are exercised for cash. All of the Shares offered by the Selling Securityholders pursuant to this prospectus will be sold by the Selling Securityholders for their respective amounts. We will not receive any of the proceeds from these sales.

This prospectus also relates to 1,500,000 Shares registered hereby for offer and resale by the Company. Pursuant to Rule 429 under the Securities Act, this prospectus updates the Prior Registration Statement and includes Shares previously registered by us pursuant to such Prior Registration Statement.

We may sell the securities described in this prospectus from time to time in one or more of the following ways:

● to or through underwriters or dealers;

● through agents;

● directly to one or more purchasers; or

● through a combination of any of these methods of sale.

In addition, we may issue the securities as a dividend or distribution or in a subscription rights offering to our existing securityholders. In some cases, we or any dealers acting for us or on our behalf may also repurchase the securities and reoffer them to the public by one or more of the methods described above. This prospectus may be used in connection with any offering of our securities through any of these methods or other methods described in the applicable prospectus supplement.

We may distribute securities from time to time in one or more of transactions:

● at a fixed price or prices, which may be changed;

● at prices relating to prevailing market prices at the time of sale;

● at varying prices determined at the time of sale; or

● at negotiated prices.

A prospectus supplement with respect to the offered securities will describe the terms of the offering of the securities, including, to the extent applicable:

● the name or names of any underwriters, dealers or agents;

● any public offering price or purchase price of the securities or other consideration therefor,

● the proceeds from such sale;

● any underwriting discounts or agency fees and other items constituting underwriters' or agents' compensation;

● any over-allotment options under which underwriters may purchase additional securities from us;

● any discounts or concessions allowed or reallowed or paid to dealers; and

● any securities exchanges on which the securities may be listed.

**Sale through Underwriters or Dealers**

If we use underwriters for the sale of securities, they will acquire securities for their own account, including through underwriting, purchase, security lending or repurchase agreements with us. The underwriters may resell the securities from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. Underwriters may offer the securities to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters. Unless we otherwise state in the applicable prospectus supplement, various conditions will apply to the underwriters' obligation to purchase securities, and the underwriters will be obligated to purchase all of the securities contemplated in an offering if they purchase any of such securities. Any initial public offering price and any discounts or concessions allowed or re-allowed or paid to dealers may be changed from time to time. The underwriter or underwriters of a particular underwritten offering of securities, or, if an underwriting syndicate is used, the managing underwriter or underwriters, will be set forth on the cover of the applicable prospectus supplement.

If we use dealers in the sale, unless we otherwise indicate in the applicable prospectus supplement, we will sell securities to the dealers as principals. The dealers may then resell the securities to the public at varying prices that the dealers may determine at the time of resale.

**Sales through Agents**

We may designate agents who agree to use their reasonable efforts to solicit purchases for the period of their appointment or to sell securities on a continuing basis. Any agent involved will be named, and any commissions payable by us to such agent will be set forth, in the applicable prospectus supplement.

**Direct Sales**

We may also sell securities directly without using agents, underwriters, or dealers.

**Market Making, Stabilization and Other Transactions**

Certain persons participating in an offering may engage in over-allotment, stabilizing transactions, short- covering transactions and penalty bids in accordance with Regulation M under the Securities Exchange Act of 1934, as amended, or the Exchange Act, that stabilize, maintain or otherwise affect the price of the offered securities. If any such activities will occur, they will be described in an applicable prospectus supplement.

**Derivative Transactions and Hedging**

We and the underwriters may engage in derivative transactions involving the securities. These derivatives may consist of short sale transactions and other hedging activities. The underwriters may acquire a long or short position in the securities, hold or resell securities acquired and purchase options or futures on the securities and other derivative instruments with returns linked to or related to changes in the price of the securities. In order to facilitate these derivative transactions, we may enter into security lending or repurchase agreements with the underwriters. The underwriters may effect the derivative transactions through sales of the securities to the public, including short sales, or by lending the securities in order to facilitate short sale transactions by others. The underwriters may also use the securities purchased or borrowed from us or others (or, in the case of derivatives, securities received from us in settlement of those derivatives) to directly or indirectly settle sales of the securities or close out any related open borrowings of the securities.

**Loan of Pledge of Securities**

We may loan or pledge securities to a financial institution or other third party that in turn may sell the securities using this prospectus and an applicable prospectus supplement.

**General Information**

We may enter into agreements with underwriters, dealers and agents that entitle them to indemnification against certain civil liabilities, including liabilities under the Securities Act, or to contribution with respect to payments which the underwriters, dealers or agents may be required to make. Underwriters, dealers and agents may be customers of, may engage in transactions with, or perform services for, us or our subsidiaries in the ordinary course of business.

Underwriters, dealers and agents that participate in the distribution of the securities may be underwriters as defined in the Securities Act, and any discounts or commissions received by them from us and any profit on the resale of the securities by them may be treated as underwriting discounts and commissions under the Securities Act. Any underwriters, dealers or agents used in the offer or sale of securities will be identified and their compensation described in an applicable prospectus supplement.

If the prospectus supplement indicates, we may authorize agents, underwriters or dealers to solicit offers from certain types of institutions to purchase securities at the public offering price under delayed delivery contracts. These contracts would provide for payment and delivery on a specified date in the future. The contracts would be subject only to those conditions described in the prospectus supplement. The applicable prospectus supplement will describe the commission payable for solicitation of those contracts.

**Resale by Selling Securityholders**

The Selling Securityholders will pay any underwriting discounts and commissions and expenses incurred by the Selling Securityholders for brokerage, accounting, tax or legal services or any other expenses incurred by the Selling Securityholders in disposing of the securities. We will bear all other costs, fees and expenses incurred in effecting the registration of the securities covered by this prospectus, including, without limitation, all registration and filing fees, Nasdaq listing fees and fees and expenses of our counsel and our independent registered public accountants.

The securities beneficially owned by the Selling Securityholders covered by this prospectus may be offered and sold from time to time by the Selling Securityholders. The term "Selling Securityholders" includes donees, pledgees, transferees or other successors in interest selling securities received after the date of this prospectus from a Selling Securityholder as a gift, pledge, partnership distribution or other transfer. The Selling Securityholders will act independently of us in making decisions with respect to the timing, manner and size of each sale. Such sales may be made on one or more exchanges or in the over-the-counter market or otherwise, at prices and under terms then prevailing or at prices related to the then current market price or in negotiated transactions. Each Selling Securityholder reserves the right to accept and, together with its respective agents, to reject, any proposed purchase of securities to be made directly or through agents. The Selling Securityholders and any of their permitted transferees may sell their securities offered by this prospectus on any stock exchange, market or trading facility on which the securities are traded or in private transactions. If underwriters are used in the sale, such underwriters will acquire the Shares for their own account. These sales may be at a fixed price or varying prices, which may be changed, or at market prices prevailing at the time of sale, at prices relating to prevailing market prices or at negotiated prices. The securities may be offered to the public through underwriting syndicates represented by managing underwriters or by underwriters without a syndicate. The obligations of the underwriters to purchase the securities will be subject to certain conditions. The underwriters will be obligated to purchase all the securities offered if any of the securities are purchased.

Subject to the limitations set forth in any applicable registration rights agreement, the Selling Securityholders may use any one or more of the following methods when selling the securities offered by this prospectus:

● purchases by a broker-dealer as principal and resale by such broker-dealer for its own account pursuant to this prospectus;

● ordinary brokerage transactions and transactions in which the broker solicits purchasers;

● block trades in which the broker-dealer so engaged will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;

● an over-the-counter distribution in accordance with the rules of the Nasdaq;

● through trading plans entered into by a Selling Securityholder pursuant to Rule 10b5-1 under the Exchange Act that are in place at the time of an offering pursuant to this prospectus and any applicable prospectus supplement hereto that provide for periodic sales of their securities on the basis of parameters described in such trading plans;

● through one or more underwritten offerings on a firm commitment or best efforts basis;

● settlement of short sales entered into after the date of this prospectus;

● agreements with broker-dealers to sell a specified number of the securities at a stipulated price per share;

● in "at the market" offerings, as defined in Rule 415 under the Securities Act, at negotiated prices, at prices prevailing at the time of sale or at prices related to such prevailing market prices, including sales made directly on a national securities exchange or sales made through a market maker other than on an exchange or other similar offerings through sales agents;

● directly to purchasers, including through a specific bidding, auction or other process or in privately negotiated transactions;

● through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

● through a combination of any of the above methods of sale; or

● any other method permitted pursuant to applicable law.

In addition, a Selling Securityholder that is an entity may elect to make a pro rata in-kind distribution of securities to its members, partners or stockholders pursuant to the registration statement of which this prospectus is a part by delivering a prospectus with a plan of distribution. Such members, partners or stockholders would thereby receive freely tradeable securities pursuant to the distribution through a registration statement. To the extent a distributee is an affiliate of ours (or to the extent otherwise required by law), we may file a prospectus supplement in order to permit the distributees to use the prospectus to resell the securities acquired in the distribution.

There can be no assurance that the Selling Securityholders will sell all or any of the securities offered by this prospectus. In addition, the Selling Securityholders may also sell securities under Rule 144 under the Securities Act, if available, or in other transactions exempt from registration, rather than under this prospectus. The Selling Securityholders have the sole and absolute discretion not to accept any purchase offer or make any sale of securities if they deem the purchase price to be unsatisfactory at any particular time.

The Selling Securityholders also may transfer the securities in other circumstances, in which case the transferees, pledgees or other successors-in-interest will be the selling beneficial owners for purposes of this prospectus. Upon being notified by a Selling Securityholder that a donee, pledgee, transferee, other successor-in-interest intends to sell our securities, we will, to the extent required, promptly file a supplement to this prospectus to name specifically such person as a selling securityholder.

With respect to a particular offering of the securities held by the Selling Securityholders, to the extent required, an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement of which this prospectus is part, will be prepared and will set forth the following information:

● the specific securities to be offered and sold;

● the names of the Selling Securityholders;

● the respective purchase prices and public offering prices, the proceeds to be received from the sale, if any, and other material terms of the offering;

● settlement of short sales entered into after the date of this prospectus;

● the names of any participating agents, broker-dealers or underwriters; and

● any applicable commissions, discounts, concessions and other items constituting compensation from the Selling Securityholders.

In connection with distributions of the securities or otherwise, the Selling Securityholders may enter into hedging transactions with broker-dealers or other financial institutions. In connection with such transactions, broker-dealers or other financial institutions may engage in short sales of the securities in the course of hedging the positions they assume with Selling Securityholders. The Selling Securityholders may also sell the securities short and redeliver the securities to close out such short positions. The Selling Securityholders may also enter into option or other transactions with broker-dealers or other financial institutions which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). The Selling Securityholders may also pledge securities to a broker-dealer or other financial institution, and, upon a default, such broker-dealer or other financial institution, may effect sales of the pledged securities pursuant to this prospectus (as supplemented or amended to reflect such transaction).

In order to facilitate the offering of the securities, any underwriters or agents, as the case may be, involved in the offering of such securities may engage in transactions that stabilize, maintain or otherwise affect the price of our securities. Specifically, the underwriters or agents, as the case may be, may overallot in connection with the offering, creating a short position in our securities for their own account. In addition, to cover overallotments or to stabilize the price of our securities, the underwriters or agents, as the case may be, may bid for, and purchase, such securities in the open market. Finally, in any offering of securities through a syndicate of underwriters, the underwriting syndicate may reclaim selling concessions allotted to an underwriter or a broker-dealer for distributing such securities in the offering if the syndicate repurchases previously distributed securities in transactions to cover syndicate short positions, in stabilization transactions or otherwise. Any of these activities may stabilize or maintain the market price of the securities above independent market levels. The underwriters or agents, as the case may be, are not required to engage in these activities, and may end any of these activities at any time.

The Selling Securityholders may solicit offers to purchase the securities directly from, and it may sell such securities directly to, institutional investors or others. In this case, no underwriters or agents would be involved. The terms of any of those sales, including the terms of any bidding or auction process, if utilized, will be described in the applicable prospectus supplement.

It is possible that one or more underwriters may make a market in our securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. We cannot give any assurance as to the liquidity of the trading market for our securities. Our Shares and Warrants are listed on the Nasdaq under the symbols "MLEC" and "MLECW," respectively.

The Selling Securityholders may authorize underwriters, broker-dealers or agents to solicit offers by certain purchasers to purchase the securities at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. The contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement will set forth any commissions we or the Selling Securityholders pay for solicitation of these contracts.

A Selling Securityholder may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by any Selling Securityholder or borrowed from any Selling Securityholder or others to settle those sales or to close out any related open borrowings of stock, and may use securities received from any Selling Securityholder in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective amendment). In addition, any Selling Securityholder may otherwise loan or pledge securities to a financial institution or other third party that in turn may sell the securities short using this prospectus. Such financial institution or other third party may transfer its economic short position to investors in our securities or in connection with a concurrent offering of other securities.

In effecting sales, broker-dealers or agents engaged by the Selling Securityholders may arrange for other broker-dealers to participate. Broker-dealers or agents may receive commissions, discounts or concessions from the Selling Securityholders in amounts to be negotiated immediately prior to the sale.

In compliance with the guidelines of the Financial Industry Regulatory Authority ("FINRA"), the aggregate maximum discount, commission, fees or other items constituting underwriting compensation to be received by any FINRA member or independent broker-dealer will not exceed 8% of the gross proceeds of any offering pursuant to this prospectus and any applicable prospectus supplement.

If at the time of any offering made under this prospectus a member of FINRA participating in the offering has a "conflict of interest" as defined in FINRA Rule 5121 ("Rule 5121"), that offering will be conducted in accordance with the relevant provisions of Rule 5121.

To our knowledge, there are currently no plans, arrangements or understandings between the Selling Securityholders and any broker-dealer or agent regarding the sale of the securities by the Selling Securityholders.Upon our notification by a Selling Securityholder that any material arrangement has been entered into with an underwriter or broker-dealer for the sale of securities through a block trade, special offering, exchange distribution, secondary distribution or a purchase by an underwriter or broker-dealer, we will file, if required by applicable law or regulation, a supplement to this prospectus pursuant to Rule 424(b) under the Securities Act disclosing certain material information relating to such underwriter or broker-dealer and such offering.

Underwriters, broker-dealers or agents may facilitate the marketing of an offering online directly or through one of their affiliates. In those cases, prospective investors may view offering terms and a prospectus online and, depending upon the particular underwriter, broker-dealer or agent, place orders online or through their financial advisors.

In offering the securities covered by this prospectus, the Selling Securityholders and any underwriters, broker-dealers or agents who execute sales for the Selling Securityholders may be deemed to be "underwriters" within the meaning of the Securities Act in connection with such sales. Any discounts, commissions, concessions or profit they earn on any resale of those securities may be underwriting discounts and commissions under the Securities Act.

The underwriters, broker-dealers and agents may engage in transactions with us or the Selling Securityholders, or perform services for us or the Selling Securityholders, in the ordinary course of business.

In order to comply with the securities laws of certain states, if applicable, the securities must be sold in such jurisdictions only through registered or licensed brokers or dealers. In addition, in certain states the securities may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

The Selling Securityholders and any other persons participating in the sale or distribution of the securities will be subject to applicable provisions of the Securities Act and the Exchange Act, and the rules and regulations thereunder, including, without limitation, Regulation M. These provisions may restrict certain activities of, and limit the timing of purchases and sales of any of the securities by, the Selling Securityholders or any other person, which limitations may affect the marketability of the shares of the securities.

We will make copies of this prospectus available to the Selling Securityholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The Selling Securityholders may indemnify any agent, broker-dealer or underwriter that participates in transactions involving the sale of the securities against certain liabilities, including liabilities arising under the Securities Act.

We have agreed to indemnify the Selling Securityholders against certain liabilities, including certain liabilities under the Securities Act, the Exchange Act or other federal or state law. Agents, broker-dealers and underwriters may be entitled to indemnification by us and the Selling Securityholders against certain civil liabilities, including liabilities under the Securities Act, or to contribution with respect to payments which the agents, broker-dealers or underwriters may be required to make in respect thereof.

**Legal Matters**

We are being represented by Linklaters LLP, New York, with respect to certain legal matters of United States federal securities and New York State law. Certain legal matters of United States federal securities and New York State law in connection with any offering made pursuant to this prospectus will be passed upon for the underwriters by a law firm named in the applicable prospectus supplement. The validity of Shares offered in any offering made pursuant to this prospectus and legal matters as to Cayman Islands law has been passed upon for us by Ogier (Cayman) LLP and for any underwriters by a law firm named in the applicable prospectus supplement.

**Experts**

The financial statements incorporated in this prospectus by reference to the Moolec Science SA Annual Report on Form 20-F for the year ended June 30, 2024 have been so incorporated in reliance on the reports of Price Waterhouse & Co. S.R.L., an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

The Bioceres Crop Solutions Corp's financial statements and management's assessment of the effectiveness of internal control over financial reporting (which is included in Management's Report on Internal Control over Financial Reporting) and the Bioceres Group PLC's financial statements, incorporated in this prospectus by reference to which appears in Moolec Science SA's Current Report on Form 6-K dated April 18, 2025 have been so incorporated in reliance on the reports of Price Waterhouse & Co. S.R.L., an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

**Where You Can Find More Information**

We are subject to the periodic reporting and other information requirements of the Exchange Act as applicable to a "foreign private issuer," and we will file annual reports and other information from time to time with the SEC in accordance with such requirements. Our SEC filings will be available to the public on the internet at a website maintained by the SEC located at *www.sec.gov*.

We also maintain an Internet website at *www.moolecscience.com*. We will make available, free of charge, the following documents as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC: our Annual Reports on Form 20-F; our reports on Form 6-K; amendments to these documents; and other information as may be required by the SEC. The information contained on, or that may be accessed through, our website is not part of, and is not incorporated into, this prospectus.

![](image_002.jpg)

**Moolec Science SA**

**Up to 1,500,000 Shares offered by the Company**

**11,110,000 Shares Underlying Warrants**

**3,581,828 Shares**

**Offered by Selling Securityholders**

**PROSPECTUS**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025**

**Part II<br> Information Not Required in Prospectus**

 **Item 8. Indemnification of Directors and Officers**

Cayman Islands law does not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. The memorandum and articles of association that were adopted in connection with the Redomiciliation provide that the Company shall indemnify each existing or former director (including alternate directors), secretaries and other officers of the Company (including an investment advisers or an administrators or liquidators) and their personal representatives against: (a) all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by them in or about the conduct of the Company's business or affairs or in the execution or discharge of their duties, powers, authorities or discretions; and (b) without limitation to limb (a) aforementioned, all costs, expenses losses or liabilities incurred by them 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: (i) against any liability by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office, (ii) with respect to any matter as to which he or she shall have been finally adjudicated to have acted in bad faith and not in the interest of the Company, or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent jurisdiction or by the Company's board of directors. In addition, the Company intends to enter into indemnification agreements with each of its executive officers and directors. The indemnification agreements will provide the indemnitees with contractual rights to indemnification, and expense advancement and reimbursement, to the fullest extent permitted under Cayman Islands law, subject to certain exceptions contained in those agreements.

The limitation of liability and indemnification provisions in the memorandum and articles of association and the indemnification obligations of the indemnification agreements may discourage shareholders from bringing a lawsuit against the Company's officers or directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against the Company's officers and directors, even though such an action, if successful, might otherwise benefit the Company and its shareholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

 **Item 9. Exhibits and Financial Statement Schedules**

(a) The following exhibits are filed as part of this Registration
Statement:

---

| | |
|:---|:---|
| 2.3\*\* | [Warrant Agreement, dated January 12, 2021, by and between LightJump Acquisition Corporation and Continental Stock Transfer & Trust Company, as warrant agent (incorporated by reference to Exhibit 4.1 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on January 20, 2021)](http://www.sec.gov/Archives/edgar/data/1825437/000121390021002945/ea133526ex4-1_lightjump.htm). |
| 2.4\*\* | [Subscription Agreement for Private Warrants by LightJump One Founders, LLC (incorporated by reference to Exhibit 10.3 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on January 20, 2021)](http://www.sec.gov/Archives/edgar/data/1825437/000121390021002945/ea133526ex10-3_lightjump.htm). |
| 2.5\*\* | [Form of Assignment, Assumption and Amendment Agreement with respect to the Warrant Agreement between LightJump Acquisition Corporation, Moolec Science SA and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 10.4 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](http://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex10-4_lightjump.htm) |
| 2.6\*\* | [Description of Registrant's Securities: See "*Description of Securities*."](http://www.sec.gov/Archives/edgar/data/1937737/000121390024092168/ea0218545-20f_moolecsci.htm) |
| 3.1\* | [Memorandum of Continuance of Moolec Science SA, dated as of May 22, 2025.](ea024552101ex3-1_moolec.htm) |
| 3.2\* | [Memorandum and Articles of Association of Moolec Science SA, dated as of May 29, 2025.](ea024552101ex3-2_moolec.htm) |
| 4.1#\*\* | [Business Combination Agreement, dated as of June 14, 2022, by and among LightJump Acquisition Corporation, Moolec Science Limited, Moolec Science SA and Moolec Acquisition, Inc. (incorporated by reference to Exhibit 2.1 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](http://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex2-1_lightjump.htm) |
| 4.2#\*\* | [First Amendment to the Business Combination Agreement, by and among LightJump Acquisition Corporation, Moolec Science Limited, Moolec Science SA and Moolec Acquisition, Inc. (incorporated by reference to Exhibit 2.1 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on November 21, 2022).](http://www.sec.gov/Archives/edgar/data/1825437/000121390022074207/ea169063ex2-1_lightjump.htm) |
| 4.3 *#*\*\* | [Form of Exchange Agreement (incorporated by reference to Exhibit 10.1 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](http://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex10-1_lightjump.htm) |
| 4.4 *#*\*\* | [Transaction Support Agreement, dated as of June 14, 2022, by and among LightJump Acquisition Corporation, LightJump One Founders, LLC, Moolec Science Limited, Moolec Science SA and others (incorporated by reference to Exhibit 10.3 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](https://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex10-3_lightjump.htm) |
| 4.5 *#*\*\* | [Registration Rights Agreement, dated as of January 12, 2021, by and between LightJump Acquisition Corporation and other investors ((incorporated by reference to Exhibit 10.2 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on January 20, 2021).](http://www.sec.gov/Archives/edgar/data/1825437/000121390021002945/ea133526ex10-2_lightjump.htm) |
| 4.6 *#*\*\* | [Registration Right and Lock-Up Agreement, dated December 30, 2022, by and among, Moolec Science SA, LightJump One Founders, LLC, BG Farming Technologies Ltd., Union Group Ventures Ltd., Bioceres Crop Solutions Corp., THEO I SCSp, Serenity Traders LTD., UG Holdings, LLC, Robert M. Bennett and Jose López Lecube (incorporated by reference to Exhibit 4.6 to Company's Form 20-F, File No. 001-41586, filed with the SEC on January 6, 2023).](https://www.sec.gov/Archives/edgar/data/1937737/000121390023001441/f20f2022ex4-6_moolecsci.htm) |
| 4.7 *#*\*\* | [Backstop Agreement (incorporated by reference to Exhibit 10.2 to LightJump Acquisition Corporation's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](https://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex10-2_lightjump.htm) |
| 4.8 *#*\*\* | [Memorandum of Understanding on the Backstop Agreement, dated as of December 30, 2022, by and among LightJump Acquisition Corporation, Moolec Science Limited, Moolec Science SA, UG Holdings, LLC, Union Group Ventures Limited, THEO I SCSp and LightJump One Founders, LLC (incorporated by reference to Exhibit 4.8 to Company's Form 20-F, File No. 001-41586, filed with the SEC on January 6, 2023).](https://www.sec.gov/Archives/edgar/data/1937737/000121390023001441/f20f2022ex4-8_moolecsci.htm) |
| 4.9 *#*\*\* | [Amendment to Business Combination Marketing Agreement, dated June 14, 2022 between LightJump Acquisition Corporation and EarlyBirdCapital, Inc. (incorporated by reference to Exhibit 10.6 to LightJump Acquisition Corporations's Form 8-K, File No. 001-39869, filed with the SEC on June 15, 2022).](https://www.sec.gov/Archives/edgar/data/1825437/000121390022033124/ea161359ex10-6_lightjump.htm) |
| 5.1\* | [Legal Opinion of Ogier (Cayman) LLP, Cayman Islands counsel to the Company.](ea024552101ex5-1_moolec.htm) |
| 12.1\*\* | [Nomura Purchase Agreement, dated April 14, 2023, between the Company and Nomura Securities, Inc. (incorporated by reference to Exhibit 99.1 to the Company's Form 6-K, File No. 001-41586, filed with the SEC on April 17, 2023)](http://www.sec.gov/Archives/edgar/data/1937737/000121390023030069/ea176933ex99-1_moolec.htm) |
| 12.2\*\* | [Nomura Registration Rights Agreement, dated April 14, 2023, by and between the Company and Nomura. (incorporated by reference to Exhibit 99.2 to the Company's Form 6-K, File No. 001-41586, filed with the SEC on April 17, 2023).](http://www.sec.gov/Archives/edgar/data/1937737/000121390023030069/ea176933ex99-2_moolec.htm) |
| 23.1\* | [Consent of Price Waterhouse & Co. S.R.L., independent registered public accounting firm, with respect to Moolec Science SA's audited consolidated financial statements.](ea024552101ex23-1_moolec.htm) |
| 23.2\* | [Consent of Price Waterhouse & Co. S.R.L., independent registered public accounting firm, with respect to Bioceres Crop Solutions Corp.'s audited consolidated financial statements.](ea024552101ex23-2_moolec.htm) |
| 23.3\* | [Consent of Price Waterhouse & Co. S.R.L., independent registered public accounting firm, with respect to Bioceres Group PLC's consolidated financial statements.](ea024552101ex23-3_moolec.htm) |
| 23.4\* | [Consent of Ogier (Cayman) LLP (included within Exhibit 5.1).](ea024552101ex5-1_moolec.htm) |
| 24.1\* | [Powers of Attorney (included in the signature page to this Registration Statement).](#a_001) |

---

*Notes:-*

*\** *Filed herewith.*

*\*\** *Previously filed.*

*#* *Certain schedules, annexes and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K, but will be furnished supplementally to the SEC upon request.*

*+* *Management contract or compensatory plan or arrangement.*

 **Item 10. Undertakings**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made of securities registered hereby, a
post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration
statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed
in the registration statement or any material change to such information in the registration statement;

 

*provided*, *however*, that paragraphs (i), (ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") that are incorporated by reference in this registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered
which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;(4) To file a post-effective amendment to the registration statement to include any financial statements required
by Item 8.A of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information
otherwise required by Section 10(a)(3) of the Securities Act need not be furnished, provided that the registrant includes in the prospectus,
by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary
to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding
the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial
statements and information required by Section 10(a)(3) of the Securities Act or Item 8.A of Form 20-F if such financial statements and
information are contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section
15 of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;(5) That, for the purpose of determining liability under the Securities Act to any purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration
statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration
statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing
the information required by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement
as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities
in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at
that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities
in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be
the initial *bona fide* offering thereof. *Provided*, *however*, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the
registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale
prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part
of the registration statement or made in any such document immediately prior to such effective date.

&nbsp;&nbsp;&nbsp;&nbsp;(6) That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser
in the initial distribution of the securities the undersigned registrant undertakes that in a primary offering of securities of the undersigned
registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser,
if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will
be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required
to be filed pursuant to Rule 424;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant
or used or referred to by the undersigned registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The portion of any other free writing prospectus relating to the offering containing material information
about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the registrants pursuant to the foregoing provisions, or otherwise, the registrants have been advised
that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the registrants will, unless in the opinion of their counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and
will be governed by the final adjudication of such issue.

**Signatures of Moolec Science SA**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Rosario, Argentina on this 16<sup>th</sup> day of June, 2025.

---

| | |
|:---|:---|
| **MOOLEC SCIENCE SA** | **MOOLEC SCIENCE SA** |
| By: | /s/ José López Lecube |
| Name: | José López Lecube |
| Title: | Chief Financial Officer <br> (Principal Executive, Financial and Accounting Officer) |

---

**POWER OF ATTORNEY**

Each of the undersigned individuals hereby severally constitutes and appoints José López Lecube as the attorney-in-fact for the undersigned, in any and all capacities, with full power of substitution, to sign on such person's behalf, individually and in each capacity stated below, any and all amendments to this registration statement, and any subsequent registration statement filed by the registrant pursuant to Rule 462(b) of the Securities Act, and to file or cause to be filed the same, with all exhibits thereto, and other documents in connection therewith, with the SEC, granting unto said attorneys-in-fact, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in connection therewith, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact, and each of them, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
| /s/ José López Lecube | Chief Financial Officer, Director | June 16, 2025 |
| José López Lecube | (Principal Executive, Financial and Accounting Officer) |  |
| /s/ Kyle P. Bransfield | Director | June 16, 2025 |
| Kyle P. Bransfield |  |  |
| /s/ Natalia Zang | Director | June 16, 2025 |
| Natalia Zang |  |  |
| /s/ Diego Nicolás Marcos | Director | June 16, 2025 |
| Diego Nicolás Marcos |  |  |
| /s/ Oscar Alejandro León Bentancor | Director | June 16, 2025 |
| Oscar Alejandro León Bentancor |  |  |

---

**Signature of Authorized U.S. Representative**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Moolec Science SA, has signed this registration statement on this 16<sup>th</sup> day of June, 2025.

---

| | |
|:---|:---|
| **COGENCY GLOBAL INC.** | **COGENCY GLOBAL INC.** |
| By: | /s/ Colleen A. De Vries |
| Name: | Colleen A. De Vries |
| Title: | Senior Vice President on behalf of <br> Cogency Global Inc. |

---

## Exhibit 3.1

**Exhibit 3.1**

![](ex3-1_001.jpg)

## Exhibit 3.2

**Exhibit 3.2**

**Companies Act (Revised)<br> Company Limited by Shares**

**MEMORANDUM OF ASSOCIATION<br> OF<br> MOOLEC SCIENCE SA<br> (Adopted by special resolution effective 29 May 2025)**

---

| | |
|:---|:---|
| *www.verify.gov.ky File#: 421988* | ![](ex3-2_001.jpg) |

---

**Companies Act (Revised)**

**Company Limited by Shares**

**Memorandum of Association**

**of**

**Moolec Science SA**

**(Adopted by special resolution effective 29 May 2025)**

1 The name of the Company is Moolec Science SA.

---

| | |
|:---|:---|
| 2 | The Company's registered office will be situated at the office of Ogier Global (Cayman) Limited at 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 | Unless licensed to do so, the Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance of its business carried on outside the Cayman Islands. Despite this, the Company may effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands any of its powers necessary for the carrying on of its business outside the Cayman Islands. |

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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 US$5,000,000,000 divided into 50,000,000,000 ordinary shares of par value US$0.10 each. However, subject to the Companies Act (Revised) and the Company's articles of association, the Company has power to do any one or more of the following: |

---

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to
 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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**Companies Act (Revised)**

**Company Limited by Shares**

**ARTICLES OF ASSOCIATION**

**OF**

**MOOLEC SCIENCE SA**

**(Adopted by Special Resolution effective 29 May 2025)**

![](ex3-2_002.jpg)

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**CONTENTS**

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

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

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

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|:---|:---|:---|
| **24** | **Capitalisation of profits** | **43** |
| 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 | 43 |
| Applying an amount for the benefit of Members | Applying an amount for the benefit of Members | 44 |
| **25** | **Share Premium Account** | **44** |
| Directors to maintain share premium account | Directors to maintain share premium account | 44 |
| Debits to share premium account | Debits to share premium account | 44 |
| **26** | **Seal** | **45** |
| Company seal | Company seal | 45 |
| Duplicate seal | Duplicate seal | 45 |
| When and how seal is to be used | When and how seal is to be used | 45 |
| If no seal is adopted or used | If no seal is adopted or used | 45 |
| Power to allow non-manual signatures and facsimile printing of seal | Power to allow non-manual signatures and facsimile printing of seal | 45 |
| Validity of execution | Validity of execution | 45 |
| **27** | **Indemnity** | **46** |
| Release | Release | 46 |
| Insurance | Insurance | 47 |
| **28** | **Notices** | **47** |
| Form of notices | Form of notices | 47 |
| Electronic communications | Electronic communications | 47 |
| Persons entitled to notices | Persons entitled to notices | 48 |
| Persons authorised to give notices | Persons authorised to give notices | 49 |
| Delivery of written notices | Delivery of written notices | 49 |
| Joint holders | Joint holders | 49 |
| Signatures | Signatures | 49 |
| Giving notice to a deceased or bankrupt Member | Giving notice to a deceased or bankrupt Member | 49 |
| Date of giving notices | Date of giving notices | 50 |
| Saving provision | Saving provision | 50 |
| **29** | **Authentication of Electronic Records** | **50** |
| Application of Articles | Application of Articles | 50 |
| Authentication of documents sent by Members by Electronic means | Authentication of documents sent by Members by Electronic means | 50 |
| 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 |
| Manner of signing | Manner of signing | 51 |
| Saving provision | Saving provision | 51 |
| **30** | **Transfer by way of continuation** | **52** |
| **31** | **Winding up** | **52** |
| Distribution of assets in specie | Distribution of assets in specie | 52 |
| No obligation to accept liability | No obligation to accept liability | 52 |
| **32** | **Amendment of Memorandum and Articles** | **53** |
| Power to change name or amend Memorandum | Power to change name or amend Memorandum | 53 |
| Power to amend these Articles | Power to amend these Articles | 53 |

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**Companies Act (Revised)**

**Company Limited by Shares**

**Articles of Association**

**of**

**Moolec Science SA**

**(Adopted by Special Resolution effective 29 May 2025)**

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| | |
|:---|:---|
| **1** | **Definitions, interpretation and exclusion of Table A** |

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**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;

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

**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;

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

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

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

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

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

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

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

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

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

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

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

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

**Fully Paid Up** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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** means a general meeting of the Company duly constituted in accordance with the Articles;

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

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

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

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**month** means a calendar month;

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

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

**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;

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

**SEC** means the United States Securities and Exchange Commission;

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

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

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

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

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

**Treasury Shares** means Shares held in treasury pursuant to the Act and Article 2.14; and

**U.S. Securities Act** means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

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**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) Unless
otherwise specified in these Articles, 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.

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

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**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.

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| | |
|:---|:---|
| **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, and, where applicable, the rules and regulations of the Designated Stock Exchange
 and/or the SEC 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, 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.

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

**Power to issue fractions of a Share**

2.5 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**

2.6 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.

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

**Trusts not recognised**

2.8 Except
 as required by Law:

&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**

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

**Power to vary class rights**

2.10 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.

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

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

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

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

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**

2.13 The
 Company shall not issue Shares or warrants to bearers.

**Treasury Shares**

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**

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.

2.16 The
 Company shall be entered in the register of Members as the holder of the Treasury Shares.
 However:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

2.17 Nothing
 in Article 2.16 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.

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.

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**Register of Members**

2.19 The
 Company shall maintain or cause to be maintained the Register of Members in accordance with
 the Act.

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

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

**Annual Return**

2.22 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.

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

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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.

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|:---|:---|
| **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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that
 sum is not paid within 14 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 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.

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

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**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;

&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.

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**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 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.

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**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 SEC, the Designated Stock Exchange and federal and state securities
 laws of the United States, a Member may transfer Shares to another person by completing an
 instrument of transfer in a common form or in a form prescribed by the Designated Stock Exchange
 or in any other form approved by the Directors, executed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where
 the Shares are Fully Paid Up, 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 of Members.

**Power to refuse registration**

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

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

**Notice of refusal to register**

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

**Power to suspend registration**

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

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**Company may retain instrument of transfer**

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

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

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

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

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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, where applicable, the rules and regulations of the Designated Stock Exchange
 and/or the SEC, 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.

**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.

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**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 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 of Members with respect to the Shares the subject of the
 redemption or purchase.

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| **10** | **Meetings of Members** |

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**Annual and extraordinary general meetings**

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

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.

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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
 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 technology
 that will be used to facilitate the 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.

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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 seven Clear Days' notice of any general meeting must be given to Members.

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

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

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.

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

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

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.

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| **11** | **Proceedings at meetings of Members** |

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**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. 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 half of the outstanding Shares carrying the right to vote at such general meeting.

**Lack of quorum**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 manner (including
 whether the meeting will be held virtually, at a physical place or both) seven days hence,
 or to such other time or manner as is determined by the Directors. If a quorum is not present
 within fifteen minutes of the time appointed for the adjourned meeting, then the Members
 present in person or by proxy shall constitute a quorum.

**Chairman**

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

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 attending meeting virtually**

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

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

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**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 10.8; 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.

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

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

11.11 Should
 a meeting be adjourned or postponed for more than seven Clear Days, whether (in respect of
 a meeting that has been adjourned) because of a lack of quorum or otherwise, Members shall
 be given at least seven Clear Days' notice of the adjourned or postponed meeting in
 accordance with Article 10.11. Otherwise it shall not be necessary to give any notice of
 the adjournment or postponement.

**Method of voting**

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

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**Chairman's casting vote**

11.13 In
 the case of an equality of votes the chairman of the meeting at which the poll is demanded
 shall not be entitled to a second or casting vote.

**Written resolutions**

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 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.

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

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

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.

**Sole-Member Company**

11.17 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.

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| **12** | **Voting rights of Members** |

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**Right to vote**

12.1 Unless
 their Shares carry no right to vote, or unless a call or other amount presently payable has
 not been paid, all Members are entitled to vote at a general meeting, 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.

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. For the avoidance of doubt, an individual who represents two or more Members,
 including a Member in that individual's own right, that individual shall be entitled
 to a separate vote for each Member.

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 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.

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**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 on a Business
 Day not less than 24 hours before holding the relevant meeting, the postponed 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.

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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/or electronic address
 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.

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12.21 Where
 a poll is taken:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 it is taken more than seven Clear Days after it is demanded, the form of appointment of a
 proxy and any accompanying authority (or an Electronic Record of the same) must be delivered
 in accordance with Article 12.20 before the time appointed for the taking of the poll;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 it is to be taken within seven Clear Days after it was demanded, the form of appointment
 of a proxy and any accompanying authority (or an Electronic Record of the same) must be delivered
 in accordance with Article 12.20 before the time appointed for the taking of the poll.

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

12.23 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.

12.24 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**

12.25 A
 proxy shall have the same voting rights at a meeting, postponed 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, postponed 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.

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

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| **13** | **Number of Directors** |

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13.1 Subject
 to Article 13.2, there shall be a Board consisting of not less than five 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.

13.2 If
 the Company only has one member, the Board may comprise of one (1) person only.

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| **14** | **Appointment, disqualification and removal of Directors** |

---

**No age limit**

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

**Corporate Directors**

14.2 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**

14.3 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**

14.4 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.

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

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

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

**Term of appointment**

14.8 Each
 Director appointed shall be appointed for a term expiring at the conclusion of the next-following
 annual general meeting of the Company (unless re-elected at such annual general meeting).

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**Eligibility**

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not
 less than seven nor more than 42 Clear Days before the date appointed for the meeting, a
 Member (other than the person to be proposed) entitled to vote at the meeting has given to
 the Company notice of his intention to propose a resolution for the appointment of that person,
 stating the particulars which would, if he were so appointed, be required to be included
 in the Company's register of Directors and a notice executed by that person of his
 willingness to be appointed.

**Removal of Directors**

14.10 A
 Director may be removed by Ordinary Resolution.

**Resignation of Directors**

14.11 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.

14.12 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**

14.13 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.

14.14 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

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&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
 dies or 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.

---

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

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**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.

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| **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.

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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.

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**Disclosure of information**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

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

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**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 Article 17.6 and 17.7 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.

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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.

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|:---|:---|
| **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 Except
 in the case of urgency or with the consent of all those entitled to attend, at least 48 hours
 notice of a Board meeting must be given to all Director 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.

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**Quorum**

18.6 Unless
 otherwise necessary to comply with the Designated Stock Exchange Rules, the quorum for the
 transaction of business at a meeting of Directors shall be at least half (1/2) of all Directors.

**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 shall not have 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.

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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.

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|:---|:---|
| **19** | **Permissible Directors' interests and disclosure** |

---

**Permissible interests subject to disclosure**

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

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

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

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

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

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

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**Notification of interests**

19.5 For
 the purposes of the preceding Articles:

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

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

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

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

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

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

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

---

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.

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| **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 30 June
 in each year and begin on 1 July 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.

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

---

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

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&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. All dividends
 shall be apportioned and paid proportionately to the amount Paid Up on the Shares during
 the time or part of the time in respect of which the dividend is paid. But if a Share is
 issued on terms providing that it shall rank for dividend as from a particular date, that
 Share shall rank for dividend accordingly.

**Right of set off**

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.

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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
 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.

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

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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.

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

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|:---|:---|
| **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 (i) against any liability by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office, (ii) with respect to any matter as to which he or she shall have been finally adjudicated to have acted in bad faith and not in the interest of the Company or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent jurisdiction or by the Board.

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.

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**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

&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.

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

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

**Persons entitled to notices**

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

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**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 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.

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**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.

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

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

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 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

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&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.

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

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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.

---

| | |
|:---|:---|
| 53 <br>*www.verify.gov.ky File#: 421988* | ![](ex3-2_001.jpg) |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

 

---

| | |
|:---|:---|
| Moolec Science SA | **D** +1 345 815 1768 |
| c/o Ogier Global (Cayman) Limited | **E james.heinicke@ogier.com** |
| 89 Nexus Way, Camana Bay |  |
| Grand Cayman, KY1-9009 | Reference: 511866.00002 |
| Cayman Islands |  |
|  | 16 June 2025 |

---

**Moolec Science SA (the Company)**

We have been requested to provide you with an opinion on matters of Cayman Islands law in connection with the Company's registration statement on Form F-3, including all amendments or supplements thereto, filed with the United States Securities and Exchange Commission (the **Commission**) under the United States Securities Act of 1933 (the **Act**), as amended, (including its exhibits, the **Registration Statement**) related to the registration of:

(a) up to 11,110,000 ordinary shares with a par value of US$0.10 each in the capital of the Company (the **Ordinary Shares**) including: (i) 6,900,000 Ordinary Shares that may be issued upon exercise of the Public Warrants (as defined in the Registration
Statement); and (ii) 4,210,000 Ordinary Shares that may be issued upon exercise of the Private Warrants (as defined in the Registration
Statement) (the **Warrant Shares**);

(b) 3,581,828 Ordinary Shares, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) 3,100,000 Ordinary Shares issued to holders of Shares in the business combination between the Company,
LightJump Acquisition Corporation, Moolec Science Limited and Moolec Acquisition Inc, as a result of the transactions contemplated by
the business combination agreement dated 14 June 2022 by and among the Company, LightJump Acquisition Corporation, Moolec Science Limited
and Moolec Acquisition Inc. (as amended by amendment no.1 to the business combination agreement dated 18 November 2022) (the **Business Combination Agreement**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) 352,240 Ordinary Shares issued as a result of the merger of Moolec Acquisition, Inc. with and into LightJump
Acquisition Corporation, pursuant to which LightJump Acquisition Corporation survived such merger and became a direct wholly-owned subsidiary
of the Company;

---

| | |
|:---|:---|
| **Ogier (Cayman) LLP** <br> 89 Nexus Way <br> Camana Bay <br> Grand Cayman, KY1-9009 <br> Cayman Islands<br>T +1 345 949 9876 <br> F +1 305 513 5888 <br> **ogier.com** | A list of Partners may be inspected on our website |

---

Moolec Science SA

16 June 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) 26,226 Ordinary Shares issued pursuant to the simple agreements for future equity be and between Moolec
Science Limited and the SAFE Holder named therein (the **SAFE Holder**) (each an **Original SAFE**), or any simply agreement for
future equity between the Company and that SAFE Holder issued in consideration for the contribution by the SAFE Holder of its rights in
the Original SAFE;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) 23,252 Ordinary Shares that were allotted to the Company's José López Lecube, the Company's
Chief Financial Officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) 80,110 Ordinary Shares issued in connection with the backstop agreement dated 14 June 2022, by and among
LightJump Acquisition Corporation, Moolec Science Limited, the Company, and Moolec Acquisition, Inc.,

(together, the **Transaction Shares**); and

(c) up to 1,500,000 Ordinary Shares for offer and resale by the Company (the **Offer Shares** and, together
with the Warrant Shares and the Transaction Shares, the **Shares**).

This opinion is given in accordance with the terms of the Legal Matters section of the Registration Statement.

Unless a contrary intention appears, all capitalised terms used in this opinion have the respective meanings set forth in Schedule 1. A reference to a Schedule is a reference to a schedule to this opinion and the headings herein are for convenience only and do not affect the construction of this opinion.

1 Documents examined

For the purposes of giving this opinion, we have examined the corporate and other documents and conducted the searches listed in Schedule 1. We have not made any searches or enquiries concerning, and have not examined any documents entered into by or affecting the Company or any other person, save for the searches, enquiries and examinations expressly referred to in Schedule 1.

Moolec Science SA

16 June 2025

2 Assumptions

In giving this opinion we have relied upon the assumptions set forth in Schedule 2 without having carried out any independent investigation or verification in respect of those assumptions.

---

| | |
|:---|:---|
| 3 | Opinions |

---

On the basis of the examinations and assumptions referred to above and subject to the qualifications set forth in Schedule 3 and the limitations set forth below, we are of the opinion that:

**Corporate status**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has been duly registered by way of continuation as an exempted company with limited liability
and is validly existing and in good standing with the Registrar of Companies of the Cayman Islands (the **Registrar**).

**Corporate power**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company has all requisite power under its M&A (as defined in Schedule 1) to issue the Shares (including
the issuance of the Ordinary Shares upon the exercise of the Warrants in accordance with the Warrant Documents (as defined in Schedule
1)), to execute and deliver the Documents (as defined in Schedule 1) and to perform its obligations, and exercise its rights, under such
documents.

**Corporate authorisation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has taken all requisite corporate action to authorise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the issuance of the Shares (including the issuance of the Ordinary Shares upon the exercise of the Warrants
in accordance with the Warrant Documents); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the execution and delivery of the Documents and the performance of its obligations, and the exercise of
its rights, under such documents.

**Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Shares to be offered and issued by the Company as contemplated by the Registration Statement (including
the issuance of the Ordinary Shares upon the exercise of the Warrants in accordance with the Warrant Documents), when issued by the Company
upon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) payment in full of the consideration as set out in the Registration Statement and in accordance with the
terms set out in the Registration Statement (including the issuance of the Ordinary Shares upon the exercise of the Warrants in accordance
with the Warrant Documents) and in accordance with the M&A; and

Moolec Science SA

16 June 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the entry of those Shares as fully paid on the register of members of the Company,

shall be validly issued, fully paid and non-assessable. As a matter of Cayman Islands law, the Shares are only issued when they have been entered into the register of members of the Company.

4 Matters not covered

We offer no opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion,
made any investigation of the laws of any other jurisdiction, and we express no opinion as to the meaning, validity, or effect of references
in the Documents to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as to whether any approvals, filings, registrations, notifications, declarations, consents or other authorisations
were required under any previous articles of the Company or the laws of Luxembourg in connection with the approval of the issuance of
the Shares of the Company prior to the Company's transfer by way of continuation into and under the laws of the Cayman Islands pursuant
to Part XII of the Companies Act (Revised) of the Cayman Islands (the **Redomiciliation**) (and the Ordinary Shares to be issued on
exercise of the Warrants);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or
the validity, enforceability or effect of the documents reviewed (or as to how the commercial terms of such documents reflect the intentions
of the parties), the accuracy of representations, the fulfilment of warranties or conditions, the occurrence of events of default or terminating
events or the existence of any conflicts or inconsistencies among the documents and any other agreements into which the Company may have
entered or any other documents; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) as to whether the acceptance, execution or performance of the Company's obligations under the documents
reviewed by us listed in Schedule 1 will result in the breach of or infringe any other agreement, deed or document (other than, to the
extent expressly provided herein, the M&A) entered into by or binding on the Company.

Moolec Science SA

16 June 2025

5 Governing law of this opinion

5.1 This opinion is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) governed by, and shall be construed in accordance with, the laws of the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) limited to the matters expressly stated in it; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) confined to, and given on the basis of, the laws and practice in the Cayman Islands at the date of this
opinion.

5.2 Unless otherwise indicated, a reference to any specific Cayman Islands legislation is a reference to that
legislation as amended to, and as in force at, the date of this opinion.

---

| | |
|:---|:---|
| 6 | Consent |

---

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and also consent to the reference to this firm in the Registration Statement under the heading "Legal Matters". In the giving of our consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the Rules and Regulations of the Commission thereunder.

Yours faithfully

**/s/ Ogier (Cayman) LLP**

**Ogier (Cayman) LLP**

Moolec Science SA

16 June 2025

**Schedule 1**

Documents examined and searches conducted

---

| | |
|:---|:---|
| 1 | The Certificate of Incorporation of the Company dated 22 May 2025 issued by the Registrar (the **Certificate of Incorporation**). |

---

---

| | |
|:---|:---|
| 2 | The memorandum and articles of association of the Company adopted by special resolution passed on 22 April 2025 and effective as of 29 May 2025 (the **M&A**). |

---

---

| | |
|:---|:---|
| 3 | A Certificate of Good Standing dated 13 June 2025 (the **Good Standing Certificate**) issued by the Registrar in respect of the Company. |

---

---

| | |
|:---|:---|
| 4 | A certificate dated on the date hereof as to certain matters of fact signed by a director of the Company in the form annexed hereto (the **Director's Certificate**), having attached to it a copy of the written resolutions of the directors of the Company passed on 29 December 2022, 7 November 2024 and 15 June 2025 (the **Resolutions**). |

---

---

| | |
|:---|:---|
| 5 | The Register of Writs maintained by the office of the Clerk of Courts in the Cayman Islands as inspected by us on 16 June 2025 (the **Register of Writs**). |

---

6 The Registration Statement.

---

| | |
|:---|:---|
| 7 | The warrant agreement dated 12 January 2021, by and between LightJump Acquisition Corporation and Continental Stock Transfer & Trust Company (the **Warrant Agreement**) |

---

---

| | |
|:---|:---|
| 8 | The subscription agreement for private warrants by LightJump One Founders, LLC (the **Warrant Subscription**). |

---

---

| | |
|:---|:---|
| 9 | The Assignment, Assumption and Amendment Agreement with respect to the Warrant Agreement dated 30 December 2022 between LightJump Acquisition Corporation, the Company and Continental Stock Transfer & Trust Company (the **Warrant Assignment** and, together with the Warrant Agreement and the Warrant Subscription, the **Warrant Documents**). |

---

10 The Business Combination Agreement.

The documents listed in this Schedule 1 together, the **Documents**.

Moolec Science SA

16 June 2025

**Schedule 2**

Assumptions

**Assumptions of general application**

1 All original documents examined by us are authentic and complete.

2 All copy documents examined by us (whether in facsimile, electronic or other form) conform to the originals and those originals are authentic and complete.

3 All signatures, seals, dates, stamps and markings (whether on original or copy documents) are genuine.

4 Each of the Certificate of Incorporation, the M&A, the Good Standing Certificate, the Resolutions, and the Director's Certificate is accurate and complete as at the date of this opinion.

5 As a matter of the laws of Luxembourg and all other applicable laws the issuance of the Warrants and the issuance of Ordinary Shares on exercise of the Warrants in accordance with the terms of the relevant documents constituted legal, valid and enforceable obligations of the Company.

---

| | |
|:---|:---|
| 6 | Where any Document has been provided to us in draft or undated form, that Document has been, or will be, executed by all parties in materially the form provided to us and, where we have been provided with successive drafts of a Document marked to show changes from a previous draft, all such changes have been accurately marked. |

---

7 There will be no intervening circumstance relevant to this opinion between the date hereof and the date upon which the Shares are issued.

8 No invitation has been, or will be, made by or on behalf of the Company to the public in the Cayman Islands to subscribe for or purchase any of the Shares.

---

| | |
|:---|:---|
| 9 | Prior to giving effect to the transactions contemplated by the Documents and the Registration Statement (the **Transactions**), including the issue and allotment of the Shares: (i) the Registration Statement (including all necessary post-effective amendments) will have become effective under the Act; (ii) all statutory documents necessary to give effect to such Transactions will have been executed, delivered and filed with the applicable governmental authorities (including, where applicable, the Registrar) and all required fees and other amounts will have been paid; and (iii) all other necessary action will have been taken under all applicable laws (other than the laws of the Cayman Islands) to authorise, approve and permit the Transactions, and any and all consents, approvals and authorisations from applicable governmental and regulatory authorities required to authorise and permit the Transactions will have been obtained. |

---

10 There is nothing in any law (other than the laws of the Cayman Islands) that would or might affect the opinions herein.

Moolec Science SA

16 June 2025

**Status, authorisation and execution**

11 Each of the parties to the Documents other than the Company is duly incorporated, formed or organised (as applicable), validly existing and in good standing under all relevant laws.

---

| | |
|:---|:---|
| 12 | Each Document and the performance of the obligations of each party thereto has been duly authorised, executed and unconditionally delivered, as applicable, by or on behalf of all parties to it in accordance with all applicable laws (other than, in the case of the Company, the laws of the Cayman Islands with respect to any Document entered into after the Redomiciliation). |

---

---

| | |
|:---|:---|
| 13 | In authorising the execution and delivery of the Documents by the Company, the issue and allotment of the Shares and Warrants, and the exercise of its rights and performance of its obligations under the Documents, each of the directors of the Company has acted in good faith with a view to the best interests of the Company and has exercised the standard of care, diligence and skill that is required of him or her. |

---

---

| | |
|:---|:---|
| 14 | Any individuals who are parties to a Document, or who sign, or have signed, documents or give information on which we rely, have the legal capacity under all relevant laws (including the laws of the Cayman Islands) to enter into and perform their obligations under such Documents, sign such documents and give such information. |

---

15 The persons named in the Resolutions as authorised to execute any Documents on behalf of the Company which have not been executed as of the date hereof, will in fact execute such documents with the intention to bind the Company.

**Enforceability**

16 None of the opinions expressed herein will be adversely affected by the laws or public policies of any jurisdiction other than the Cayman Islands. In particular, but without limitation to the previous sentence:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the laws or public policies of any jurisdiction other than the Cayman Islands will not adversely affect
the capacity or authority of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) we have made no independent investigation of the laws of Luxembourg and have assumed that such laws authorised
the issuance of the Shares (and Ordinary Shares issuable on exercise of the Warrants) and that the Company complied fully with the laws
of Luxembourg with respect to the approval of the issuance of the Shares (and Ordinary Shares issuable on exercise of the Warrants) prior
to the Redomiciliation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) neither the execution or delivery of the Documents nor the exercise by any party to the Documents of its
rights or the performance of its obligations under them contravene those laws or public policies.

17 There are no agreements, documents, or arrangements (other than the documents expressly referred to in this opinion as having been examined by us) that materially affect or modify the Documents or the transactions contemplated by them or restrict the powers and authority of the Company in any way.

18 None of the transactions contemplated by the Documents relate to any shares, voting rights or other rights that are subject to a restrictions notice issued pursuant to the Companies Act (Revised) of the Cayman Islands.

Moolec Science SA

16 June 2025

**Share Issuance**

---

| | |
|:---|:---|
| 19 | The Shares (including the Ordinary Shares to be issued upon the exercise of the Warrants) have been prior to the Redomiciliation, duly and validly authorised, legally and validly issued and non-assessable under the laws of Luxembourg and the articles in effect at the relevant time (as effective from a Luxembourg perspective). |

---

20 The Shares (including the Ordinary Shares to be issued upon the exercise of the Warrants) to be issued shall be issued at an issue price in excess of the par value thereof, and will be entered on the register of members of the Company as fully paid.

**Authorisations**

---

| | |
|:---|:---|
| 21 | No further shares in the capital of the Company will be issued unless and until all required Nasdaq approvals and shareholder approvals required by the rules and regulations of Nasdaq (if any) have been obtained. Any conditions to which such approvals are subject have been, and will continue to be, satisfied or waived by the parties entitled to the benefit of them. |

---

**Register of Writs**

22 The Register of Writs constitutes a complete and accurate record of the proceedings affecting the Company before the Grand Court of the Cayman Islands as at the time we conducted our investigation of such register.

Moolec Science SA

16 June 2025

**Schedule 3**

Qualifications

**Good Standing**

---

| | |
|:---|:---|
| 1 | Under the Companies Act (Revised) of the Cayman Islands (**Companies Act**) annual returns in respect of the Company must be filed with the Registrar, together with payment of annual filing fees. A failure to file annual returns and pay annual filing fees may result in the Company being struck off the Register of Companies, following which its assets will vest in the Financial Secretary of the Cayman Islands and will be subject to disposition or retention for the benefit of the public of the Cayman Islands. |

---

---

| | |
|:---|:---|
| 2 | **In good standing** means only that as of the date of the Good Standing Certificate the Company is up-to-date with the filing of its annual returns and payment of annual fees with the Registrar. We have made no enquiries into the Company's good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands other than the Companies Act. |

---

**Limited Liability**

---

| | |
|:---|:---|
| 3 | We are not aware of any Cayman Islands authority as to when the courts would set aside the limited liability of a shareholder in a Cayman Islands company. Our opinion on the subject is based on the Companies Act and English common law authorities, the latter of which are persuasive but not binding in the courts of the Cayman Islands. Under English authorities, circumstances in which a court would attribute personal liability to a shareholder are very limited, and include: (a) such shareholder expressly assuming direct liability (such as a guarantee); (b) the company acting as the agent of such shareholder; and (c) the company being incorporated by or at the behest of such shareholder for the purpose of committing or furthering such shareholder's fraud, or for a sham transaction otherwise carried out by such shareholder. In the absence of these circumstances, we are of the opinion that a Cayman Islands' court would have no grounds to set aside the limited liability of a shareholder. |

---

**Non-Assessable**

---

| | |
|:---|:---|
| 4 | In this opinion, the phrase "non-assessable" means, with respect to the Shares in the Company, that a shareholder shall not, solely by virtue of its status as a shareholder, be liable for additional assessments or calls on the Shares by the Company or its creditors (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstance in which a court may be prepared to pierce or lift the corporate veil). |

---

**Register of Writs**

5 Our examination of the Register of Writs cannot conclusively reveal whether or not there is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any current or pending litigation in the Cayman Islands against the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any application for the winding up or dissolution of the Company or the appointment of any liquidator,
trustee in bankruptcy or restructuring officer in respect of the Company or any of its assets,

as notice of these matters might not be entered on the Register of Writs immediately or updated expeditiously or the court file associated with the matter or the matter itself may not be publicly available (for example, due to sealing orders having been made). Furthermore, we have not conducted a search of the summary court. Claims in the summary court are limited to a maximum of CI $20,000.

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form F.3 of Moolec Science SA of our report dated October 30, 2024 relating to the financial statements, which appears in Bioceres Crops Solutions Corp's Annual Report on Form 20-F for the year ended June 30, 2024. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

 

/s/ Price Waterhouse & Co. S.R.L.

/s/ Sebastian Azagra

Partner

Rosario, Argentina

June 16, 2025

## Exhibit 23.2

**Exhibit 23.2**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form F-3 of Moolec Science SA of our report dated October 30, 2024 relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of Bioceres Crop Solutions Corp., which appears in Moolec Science SA's Current Report on Form 6-K dated April 18, 2025 We also consent to the reference to us under the heading "Experts" in such Registration Statement.

 

/s/ Price Waterhouse & Co. S.R.L.

---

| |
|:---|
| /s/ Guillermo Miguel Bosio |
| Guillermo Miguel Bosio |
| Partner |
| Rosario, Argentina |
| June 16, 2025 |

---

## Exhibit 23.3

**Exhibit 23.3**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Moolec Science SA of our report dated April 15, 2025 relating to the consolidated financial statements of Bioceres Group PLC, which appears in Moolec Science SA's Current Report on Form 6-K dated April 18, 2025.

/s/ Price Waterhouse & Co. S.R.L.

/s/ Guillermo Miguel Bosio

Guillermo Miguel Bosio

Partner

Rosario, Argentina

June 16, 2025