THE
PROPOSING TRANSFEROR) THE TOTAL SALE PROCEEDS FOR THE TRANSFER OF THE NUMBER OF
SHARES ALLOCATED TO THE A ORDINARY SHAREHOLDER PURSUANT TO ARTICLE 16.4 AT THE
PRICE PER SHARE EQUAL TO THE SPECIFIED PRICE (THE "PROCEEDS") AND EACH A
ORDINARY SHAREHOLDER SHALL ACCEPT A TRANSFER OF SUCH NUMBER OF SHARES AND THE
PROPOSING TRANSFEROR SHALL BE BOUND FORTHWITH UPON PAYMENT OF THE PROCEEDS TO
DELIVER TO THE COMPANY (AS AGENT FOR THE A ORDINARY SHAREHOLDER) SUCH DOCUMENTS
AS ARE REQUIRED TO TRANSFER SUCH SHARES TO THE A ORDINARY SHAREHOLDER.
16.6
IF IN ANY CASE THE PROPOSING TRANSFEROR, AFTER
HAVING BECOME BOUND TO TRANSFER SALE SHARES AS AFORESAID MAKES DEFAULT IN SO
DOING THE COMPANY MAY RECEIVE THE PROCEEDS AND THE DIRECTORS MAY APPOINT SOME
PERSON TO EXECUTE INSTRUMENTS OF TRANSFER OF SUCH SALE SHARES IN FAVOUR OF THE A
ORDINARY SHAREHOLDER AND SHALL THEREUPON, SUBJECT TO SUCH TRANSFERS BEING
PROPERLY STAMPED, CAUSE THE NAME OF THE A ORDINARY SHAREHOLDER TO BE ENTERED IN
THE REGISTER OF MEMBERS AS THE HOLDER OF THOSE SALE SHARES ALLOCATED TO HIM AS
AFORESAID AND SHALL HOLD THE PROCEEDS IN TRUST FOR THE PROPOSING TRANSFEROR.
THE ISSUE OF A RECEIPT BY THE COMPANY THEREFORE SHALL BE A GOOD DISCHARGE TO THE
A ORDINARY SHAREHOLDER AND AFTER ITS NAME SHALL HAVE BEEN ENTERED IN THE
REGISTER OF MEMBERS IN EXERCISE OF THE AFORESAID POWER THE VALIDITY OF THE
TRANSACTIONS SHALL NOT BE QUESTIONED BY ANY PERSON.
16.7
IF, AT THE EXPIRATION OF THE PERIOD OF 30 DAYS
REFERRED TO IN ARTICLE 16.4 ABOVE, ANY OF THE SALE SHARES HAVE NOT BEEN
ALLOCATED IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 16.6, THE PROPOSING
TRANSFEROR MAY AT ANY TIME WITHIN A PERIOD OF 60 DAYS AFTER THE EXPIRATION OF
THE SAID PERIOD OF 30 DAYS REFERRED TO IN ARTICLE 16.4 ABOVE TRANSFER SUCH
UNALLOCATED SALE SHARES TO THE PROPOSED TRANSFEREE(S) (IF ANY) SPECIFIED IN THE
TRANSFER NOTICE, OR TO ANY OTHER PERSON AT ANY PRICE PER SHARE NOT BEING LESS
THAN THE SPECIFIED PRICE PROVIDED THAT THE BOARD MAY REQUIRE TO BE SATISFIED ON
REASONABLE GROUNDS THAT SUCH UNALLOCATED SALE SHARES ARE BEING TRANSFERRED IN
PURSUANCE OF A BONA FIDE SALE FOR THE CONSIDERATION STATED IN THE TRANSFER
WITHOUT ANY DEDUCTION, REBATE OR ALLOWANCE WHATSOEVER TO THE TRANSFEREE AND IF
NOT SO SATISFIED MAY REFUSE TO REGISTER THE INSTRUMENT OF TRANSFER.
17.
TRANSMISSION OF SHARES
17.1
IF A MEMBER DIES THE SURVIVOR OR SURVIVORS WHERE
HE WAS A JOINT HOLDER, AND HIS PERSONAL REPRESENTATIVES WHERE HE WAS A SOLE
HOLDER OR THE ONLY SURVIVOR OF JOINT HOLDERS, SHALL BE THE ONLY PERSONS
RECOGNISED BY THE COMPANY AS HAVING ANY TITLE TO HIS INTEREST; BUT NOTHING
HEREIN CONTAINED SHALL RELEASE THE ESTATE OF A DECEASED MEMBER FROM ANY
LIABILITY IN RESPECT OF ANY SHARE WHICH HAD BEEN JOINTLY HELD BY HIM.
17.2
A PERSON BECOMING ENTITLED TO A SHARE IN
CONSEQUENCE OF THE DEATH OR BANKRUPTCY OF A MEMBER MAY, UPON SUCH EVIDENCE BEING
PRODUCED AS THE DIRECTORS