Document:

Deposit Agreement dated October 3, 2005 between Senetek PLC and The Bank of NY

 Exhibit 10.4 
  

 SENETEK PLC 
 AND 
 THE BANK OF NEW YORK 
 As Depositary 
 AND 
 HOLDERS OF AMERICAN DEPOSITARY RECEIPTS 
 Amended and Restated Deposit Agreement 
 Dated as of November 6, 1992 
 As Further
Amended and Restated as of October 3, 2005 
  

 DEPOSIT AGREEMENT 
 Amended and Restated Deposit Agreement, dated as of November 6, 1992, to that certain Deposit Agreement dated as of April 15, 1985, as further amended and restated as of October 3, 2005 among SENETEK
PLC, incorporated under the laws of England (herein called the Issuer), THE BANK OF NEW YORK, a New York banking corporation (herein called the Depositary), and all Owners from time to time of American Depositary Receipts issued hereunder.

 W I T N E S S E T H : 
 WHEREAS, the Issuer desires to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of Ordinary Five Pence Shares (herein called
Shares), of the Issuer from time to time with the Depositary or with the London office of the Depositary (herein called the Custodian), for the purposes set forth in this Deposit Agreement, for the creation of American Depositary Shares representing
the Shares so deposited and for the execution and delivery of American Depositary Receipts in respect of the American Depositary Shares; and 
 WHEREAS, the American Depositary Receipts are to be substantially in the form of Exhibit A annexed hereto, with appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit Agreement; 
 NOW, THEREFORE, in consideration of the premises, it is agreed by and between the parties hereto as follows: 
 ARTICLE 1. DEFINITIONS. 
 The following definitions shall for all purposes, unless otherwise clearly indicated, apply to the respective terms used in this Deposit Agreement: 
 SECTION 1.01. The term “Issuer” shall mean SENETEK plc, incorporated under the laws of England, and its successors. 

 SECTION 1.02. The term “Depositary” shall mean The Bank of New York, a New York banking
corporation and any successor as depositary hereunder. The term “Corporate Trust Office”, when used with respect to the Depositary, shall be in the office of the Depositary which at the date of this Agreement is 101 Barclay Street, New
York, New York 10286. 
 SECTION 1.03. The term “Custodian” shall mean the London, England office of the Depositary, as agent of
the Depositary for the purposes of this Deposit Agreement, and any other firm or corporation which may hereafter be appointed by the Depositary pursuant to the terms of Section 5.05, as substitute or additional custodian or custodians
hereunder, as the context shall require and the term “Custodians” shall mean all of them, collectively. 
 SECTION 1.04. The term
“Deposit Agreement” shall mean this Agreement, as the same may be amended from time to time in accordance with the provisions hereof. 
 SECTION 1.05. The term “Shares” shall mean Ordinary Five Pence Shares in registered form of the Issuer, heretofore validly issued and outstanding and fully paid, nonassessable and free of any pre-emption rights of the holders of
outstanding Shares or hereafter validly issued and outstanding and fully paid, non-assessable and free of any pre-emption rights of the holders of outstanding Shares or interim certificates representing said Ordinary Five Pence Shares. 

SECTION 1.06. The term “Deposited Securities” as of any time shall mean Shares at such time deposited or deemed to be deposited under this
Deposit Agreement and any and all other securities, property and cash received by the Depositary or the Custodian in respect thereof and at such time held hereunder, subject as to cash to the provisions of Section 4.05. 
 SECTION 1.07. The term “Receipts” shall mean the American Depositary Receipts issued hereunder representing American Depositary Shares.

  

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 SECTION 1.08. The term “American Depositary Shares” shall mean the rights represented by the
Receipts issued hereunder and the interests in the Deposited Securities represented thereby. Each American Depositary Share shall represent one Deposited Security, until there shall occur a distribution upon Deposited Securities covered by
Section 4.03 or a change in Deposited Securities covered by Section 4.08 with respect to which additional Receipts are not executed and delivered, and thereafter American Depositary Shares shall evidence the amount of Shares or Deposited
Securities specified in such Sections. 
 SECTION 1.09. The term “Owner” shall mean the person in whose name a Receipt is
registered on the books of the Depositary maintained for such purpose. 
 SECTION 1.10. The term “Registrar” shall mean any bank or
trust company having an office in the Borough of Manhattan, The City of New York, which shall be appointed to register Receipts and transfers of Receipts as herein provided. 
 SECTION 1.11. The term “Dollars” shall mean United States dollars. The term “Pounds” shall mean English pounds sterling. 

SECTION 1.12. The term “Securities Act of 1933” shall mean the United States Securities Act of 1933, as from time to time amended.

 SECTION 1.13. The term “Commission” shall mean the Securities and Exchange Commission of the United States or any successor
governmental agency in the United States. 
 SECTION 1.14. The term “Foreign Registrar” shall mean W.H. Stentiford & Co.,
a company organized under the laws of England, which carries out the duties of registrar for the Shares of the Issuer or any successor as registrar for the Shares of the Issuer. 
  

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 ARTICLE 2. FORM OF RECEIPTS, DEPOSIT OF SHARES, EXECUTION AND DELIVERY, TRANSFER AND SURRENDER OF RECEIPTS. 

SECTION 2.01. Form and Transferability of Receipts. Definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to
this Deposit Agreement, with appropriate insertions, modifications and omissions, as hereinafter provided. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose, unless such Receipt shall
have been executed by the Depositary by the manual signature of a duly authorized officer or, if a Registrar shall have been appointed, by the manual signature of a duly authorized officer of the Registrar. The Depositary shall maintain books on
which each Receipt so executed and delivered as hereinafter provided and the transfer of each such Receipt shall be registered. Receipts bearing the facsimile signature of a duly authorized officer of the Depositary who was at any time a proper
officer of the Depositary shall bind the Depositary, notwithstanding that such officer has ceased to hold such office prior to signature of the Registrar and delivery of such Receipts or did not hold such office at the date of such Receipts.

 The Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the
provisions of this Deposit Agreement as may be required by the Depositary or required to comply with any applicable law or regulations thereunder or with the rules and regulations of any securities exchange upon which Receipts may be listed or to
conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject by reason of the date of issuance of the underlying Deposited Securities or otherwise. 
 Title to a Receipt (and to the American Depositary Shares evidenced thereby), when properly endorsed or accompanied by proper instruments of transfer,
shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name the Receipt is registered as the
absolute owner thereof for the purpose of determining the person entitled to distribution of dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
  

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 SECTION 2.02. Deposit of Shares. Subject to the terms and conditions of this Deposit Agreement,
Shares or evidence of rights to receive Shares may be deposited by delivery thereof to any Custodian hereunder, accompanied by any appropriate instrument or instruments of transfer, or endorsement, in form satisfactory to the Custodians, together
with all such certifications as may be required by the Depositary or the Custodians in accordance with the provisions of this Deposit Agreement, and together with a written order directing the Depositary to execute and deliver to, or upon the
written order of, the person or persons stated in such order a Receipt or Receipts for the number of American Depositary Shares representing such deposit. No Share shall be accepted for deposit unless accompanied by evidence satisfactory to the
Depositary that any necessary approval has been granted by the governmental body in England, if any, which is then performing the function of the regulation of currency exchange. If required by the Depositary, Shares presented for deposit at any
time, whether or not the transfer books of the Issuer (or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the Foreign Registrar) are closed, shall also be accompanied by an agreement or
assignment, or other instrument satisfactory to the Depositary, which will provide for the prompt transfer to the Custodian of any dividend, or right to subscribe for additional Shares or to receive other property which any person in whose name the
Shares are or have been recorded may thereafter receive upon or in respect of such deposited Shares, or in lieu thereof, such agreement of indemnity or other agreement as shall be satisfactory to the Depositary. 
 At the request and risk and expense of any Owner, and for the account of such Owner, the Depositary may receive certificates for Shares to be deposited,
together with the other instruments herein specified, for the purpose of forwarding such Share certificates to the Custodian for deposit hereunder. 
 Upon each delivery to a Custodian of a certificate or certificates for Shares to be deposited hereunder, together with the other documents above specified, such Custodian shall, as soon as transfer and recordation can be accomplished,
present such certificate or certificates to the Issuer (or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the Foreign Registrar), for transfer and recordation of the Shares being deposited in the
name of the Depositary or its nominee or such Custodian or its nominee. 
  

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 Deposited Securities shall be held by the Depositary or by a Custodian for the account and to the order
of the Depositary or at such other place or places as the Depositary shall determine. 
 SECTION 2.03. Execution and Delivery of
Receipts. Upon receipt by any Custodian of any deposit pursuant to Section 2.02 hereunder (and in addition, if the transfer books of the Issuer [or the appointed agent of the Issuer for the transfer and registration of Shares, which may but
need not be the Foreign Registrar] are open, a proper acknowledgment or other evidence from the Issuer satisfactory to the Depositary that any Deposited Securities have been recorded upon the books of the Issuer [or the appointed agent of the Issuer
for the transfer and registration of Shares, which may but need not be the Foreign Registrar] in the name of the Depositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified, such
Custodian shall notify the Depositary of such deposit and the person or persons to whom or upon whose written order a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be represented thereby. Such
notification shall be made by letter or, at the request and risk and expense of the person making the deposit, by cable, telex or facsimile transmission. Upon receiving such notice from such Custodian, the Depositary, subject to the terms and
conditions of this Deposit Agreement, shall execute and deliver at its Principal Office to or upon the order of the person or persons named in the notice delivered to the Depositary, a Receipt or Receipts, registered in the name or names and
representing any authorized number of American Depositary Shares requested by such person or persons, but only upon payment to the Depositary of the fee of the Depositary for the execution and delivery of such Receipt or Receipts, and of all taxes
and governmental charges and fees payable in connection with such deposit and the transfer of the Deposited Securities. 
 SECTION 2.04.
Transfer of Receipts; Combination and Split-up of Receipts. The Depositary, subject to the terms and conditions of this Deposit Agreement, 
  

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 shall register transfers on its transfer books from time to time of Receipts, upon any surrender of a Receipt, by the
Owner in person or by duly authorized attorney, properly endorsed or accompanied by proper instruments of transfer, and duly stamped as may be required by the laws of the State of New York and of the United States of America. Thereupon the
Depositary shall execute a new Receipt or Receipts and deliver the same to or upon the order of the person entitled thereto. 
 The
Depositary, subject to the terms and conditions of this Deposit Agreement, shall upon surrender of a Receipt or Receipts for the purpose of effecting a split-up or combination of such Receipt or Receipts, execute and deliver a new Receipt or
Receipts for any authorized number of American Depositary Shares requested, representing the same aggregate number of American Depositary Shares as the Receipt or Receipts surrendered. 
 SECTION 2.05. Surrender of Receipts and Withdrawal of Shares. Upon surrender at the Corporate Trust Office of the Depositary of a Receipt
evidencing American Depositary Shares for the purpose of withdrawal of the Deposited Securities represented thereby, and upon payment of the fee of the Depositary for the cancellation of Receipts, and subject to the terms and conditions of this
Deposit Agreement, the Owner of such Receipt shall be entitled to delivery, to him or upon his order, of the amount of Deposited Securities at the time represented by such Receipt. Delivery of such Deposited Securities may be made by the delivery of
certificates to such Owner or as ordered by him. Such delivery shall be made, as hereinafter provided, without unreasonable delay. 
 A
Receipt surrendered for such purposes may be required by the Depositary to be properly endorsed in blank or accompanied by proper instruments of transfer in blank, and the Owner thereof shall execute and deliver to the Depositary a written order
directing the Depositary to cause the Deposited Securities being withdrawn to be delivered to or upon the written order of a person or persons designated in such order. Thereupon the Depositary shall direct one (or more) of the Custodians to deliver
at the London, England office of such Custodian, subject to Section 2.06, 3.01 and 3.02, and to the other terms and conditions of this Deposit Agreement, to or upon the written order of 
  

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 the person or persons designated in the order delivered to the Depositary as above provided, the amount of Deposited
Securities represented by such Receipt, except that the Depositary may make delivery to such person or persons at the Corporate Trust Office of the Depositary of any dividends or distributions with respect to the Deposited Securities represented by
such Receipt, or of any proceeds of sale of any dividends, distributions or rights, which may at the time be held by the Depositary. 
 At
the request, risk and expense of any Owner so surrendering a Receipt, and for the account of such Owner, the Depositary shall direct the Custodian to forward a certificate or certificates and other proper documents of title for the Deposited
Securities represented by such Receipt to the Depositary for delivery at the Corporate Trust Office of the Depositary. Such direction shall be given by letter or, at the request, risk and expense of such Owner, by cable, telex or facsimile
transmission. 
 SECTION 2.06. Limitations on Execution and Delivery, Transfer and Surrender of Receipts. As a condition precedent to
the execution and delivery, registration of transfer, split-up, combination or surrender of any Receipt or withdrawal of any deposited Securities, the Depositary or the Custodian may require payment from the presentor of the Receipt of a sum
sufficient to reimburse it for any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any
applicable fees as herein provided, may require the production of proof satisfactory to it as to the identity and genuineness of any signature and may also require compliance with any regulations, as the Depositary may establish consistent with the
provisions of this Deposit Agreement including without limitation, Section 7.07. 
 The delivery of Receipts against deposits of Shares
generally or against deposits of particular Shares may be suspended, or the transfer of Receipts in particular instances may be refused, or the transfer or surrender of outstanding Receipts generally may be suspended, during any period when the
transfer books of the Depositary are closed, or if any such action is deemed necessary or advisable by the Depositary or the Issuer at any 
  

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 time or from time to time because of any requirement of law or of any government or governmental body or commission, or
under any provision of this Deposit Agreement or for any other reason subject to Section 7.07. The surrender of outstanding Receipts and withdrawal of Deposited Securities may not be suspended subject only to (i) temporary delays caused by
closing the transfer books of the Depositary or the Issuer or the deposit of Shares in connection with voting at a shareholders’ meeting, or the payment of dividends, (ii) the payment of fees, taxes and similar charges, and
(iii) compliance with any U.S. or foreign laws or governmental regulations relating to the Receipts or to the withdrawal of the Deposited Securities. Without limitation of the foregoing, the Depositary shall not knowingly accept for deposit
under this Deposit Agreement any Shares required to be registered under the provisions of the Securities Act of 1933, unless a registration statement is in effect as to such Shares. 
 SECTION 2.07. Lost Receipts, etc. In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary shall execute and deliver a
new Receipt of like tenor, in exchange and substitution for such mutilated Receipt upon cancellation thereof, or in lieu of and in substitution for such destroyed or lost or stolen Receipt, upon the Owner thereof (a) filing with the Depositary
(i) a request for such exchange and delivery before the Depositary has notice that the Receipt has been acquired by a bona fide purchaser and (ii) a sufficient indemnity bond and (b) satisfying any other reasonable requirements
imposed by the Depositary. 
 SECTION 2.08. Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the
Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled. 
 SECTION 2.09. Loans and
Pre-Release of Shares and Receipts. In its capacity as Depositary, the Depositary will lend neither the Shares held hereunder nor the Receipts; provided, however, that the Depositary reserves the right to (i) issue Receipts prior to the
receipt of Shares pursuant to Section 2.02 and (ii) deliver Shares prior to the receipt and cancellation of Receipts pursuant to Section 2.05, including Receipts which were issued under (i) above but for which Shares may not have
been received. The 
  

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 Depositary may receive Receipts in lieu of Shares under (i) above and receive Shares in lieu of Receipts under
(ii) above. Each such transaction will be (a) accompanied by a written representation from the person to whom Receipts or Shares are to be delivered that such person, or its customer, owns the Shares or Receipts to be remitted, as the case
may be, (b) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (c) terminable by the Depositary on not more than five (5) business days notice, and (d) subject to such
further indemnities and credit regulations as the Depositary deems appropriate. The Depositary will normally limit the number of Receipts and Shares involved in such transactions at any one time to thirty percent (30%) of the Receipts
outstanding (without giving effect to Receipts outstanding under (i) above), or Shares held hereunder, respectively; provided, however, that the Depositary reserves the right to change or disregard such limit from time to time as it deems
appropriate. The Depositary will also set limits with respect to the number of Receipts and Shares involved in transactions to be done hereunder with any one person on a case by case basis as it deems appropriate. 
 The Depositary may retain for its own account any compensation received by it in connection with the foregoing. 
 ARTICLE 3. CERTAIN OBLIGATIONS OF OWNERS OF RECEIPTS. 
 SECTION 3.01. Filing Proofs, Certificates and Other Information. Any person presenting Shares for deposit or any Owner of a Receipt may be required from time to time to file such proof of citizenship or
residence, exchange control approval, or such information relating to the registration on the books of the Issuer (or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the foreign Registrar) of the
Shares presented for deposit or other information, to execute such certificates and to make such representations and warranties, as the Depositary may deem necessary or proper. The Depositary may withhold the delivery or registration of transfer of
any Receipt or the distribution or sale of any dividend or other distribution or rights or of the proceeds thereof or the delivery of any Deposited Securities until such proof or other information is filed or such certificates are executed.

  

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 SECTION 3.02. Liability of Owner for Taxes. If any tax or other governmental charge shall become
payable with respect to any Deposited Securities represented by any Receipt, such tax or other governmental charge shall be payable by the Owner of such Receipt to the Depositary. The Depositary may refuse to effect any transfer of such Receipt or
any withdrawal of Deposited Securities represented thereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Owner thereof any part or all of the Deposited Securities represented by
such Receipt, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge and the Owner of such Receipt shall remain liable for any deficiency. 
 SECTION 3.03. Warranties on Deposit of Shares. Every person depositing Shares under this Deposit Agreement shall be deemed thereby to represent
and warrant that such Shares and each certificate therefor are validly issued, fully paid, non-assessable and free of any pre-emption rights of the holders of outstanding Shares and that the person making such deposit is duly authorized so to do.
Every such person shall also be deemed to represent that the deposit of such Shares or sale of Receipts evidencing American Depositary Shares representing such Shares by that person is not restricted under the Securities Act of 1933. Such
representations and warranties shall survive the deposit of Shares and issuance of Receipts. 
 ARTICLE 4. THE DEPOSITED
SECURITIES 
 SECTION 4.01. Cash Distributions. Whenever the Depositary shall receive any cash dividend or other cash distribution by
the Issuer on any Deposited Securities, the Depositary shall, subject to the provisions of Section 4.05, convert such dividend or distribution into dollars and shall distribute the amount thus received to the Owners of Receipts entitled
thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities held by them respectively; provided, however, that in the event that the Issuer or the Depositary shall be required to withhold and does
withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, the amount distributed to the Owner of 
  

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 Receipts for American Depositary Shares representing such Deposited Securities shall be reduced accordingly. The
Depositary shall distribute only such amount, however, as can be distributed without attributing to any Owner of a Receipt a fraction of one cent, and any balance not so distributable shall be held by the Depositary (without liability for interest
thereon) and shall be added to and become part of the next sum received by the Depositary for distribution to Owners of Receipts then outstanding. The Issuer or its agent will remit to the appropriate governmental agency in Pounds all amounts
withheld and owing to such agency. The Depositary will forward to the Issuer or its agent such information from its records as the Issuer may reasonably request to enable the Issuer or its agent to file necessary reports with governmental agencies,
and either the Depositary or the Issuer or its agent may file any such reports necessary to obtain benefits under the applicable tax treaties for the Owners of Receipts. 
 SECTION 4.02. Distributions Other Than Cash or Shares. Whenever the Depositary shall receive any distribution other than cash or Shares upon any Deposited Securities, the Depositary shall cause the securities
or property received by it to be distributed to the Owners of Receipts entitled thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities held by them respectively, in any manner that the Depositary
may deem equitable and practicable for accomplishing such distribution; provided, however, that if in the opinion of the Depositary such distribution cannot be made proportionately among the Owners of Receipts entitled thereto, or if for any other
reason (including any requirement that the Issuer or the Depositary withhold an amount on account of taxes) the Depositary deems such distribution not to be feasible, the Depositary may adopt such method as it may deem equitable and practicable for
the purpose of effecting such distribution, including the sale (at public or private sale) of the securities or property thus received, or any part thereof, and the net proceeds of any such sale shall be distributed by the Depositary to the Owners
of Receipts entitled thereto as in the case of a distribution received in cash. 
 SECTION 4.03. Distributions in Shares. If any
distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may with the Issuer’s approval, and shall if the Issuer shall so request, 
  

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 distribute to the Owner of outstanding Receipts entitled thereto, in proportion to the number of American Depositary
Shares representing such Deposited Securities held by them respectively, additional Receipts for an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution. In lieu of
delivering Receipts for fractional American Depositary Shares in any such case, the Depositary shall sell the amount of Shares represented by the aggregate of such fractions and distribute the net proceeds, all in the manner and subject to the
conditions described in Section 4.02. If additional Receipts are not so distributed (except as pursuant to the preceding sentence), each American Depositary Share shall thenceforth also represent the additional Shares distributed upon the
Deposited Securities represented thereby. 
 SECTION 4.04. Rights. In the event that the Issuer shall offer or cause to be offered to
the holders of any Deposited Securities any rights to subscribe for additional Shares or any rights of any other nature, the Depositary shall have discretion as to the procedure to be followed in making such rights available to the Owners of
Receipts or in disposing of such rights on behalf of such Owners and making the net proceeds available in dollars to such Owners; provided, however, that the Depositary will, if requested by the Issuer, take action as follows: 
 (i) if at the time of the offering of any rights the Depositary determines that it is lawful and feasible to make such rights available to
Owners of Receipts by means of warrants or otherwise, the Depositary shall distribute warrants or other instruments therefor in such form as it may determine to the Owners entitled thereto, in proportion to the number of American Depositary Shares
representing such Deposited Securities, or employ such other method as it may deem feasible in order to facilitate the exercise, sale or transfer of rights by such Owners; or 
 (ii) if at the time of the offering of any rights the Depositary determines that it is not lawful or not feasible to make such rights
available to Owners of Receipts by means of warrants or otherwise, or if the rights represented by such warrants or such other instruments are not exercised and appear to be about to 
  

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 [COPY MISSING - TO COME] 
  

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 If at any time the Depositary shall determine that in its judgment any foreign currency received by the
Depositary is not convertible on a reasonable basis into dollars transferable to the United States, or if any approval or license of any government or agency thereof which is required for such conversion is denied or in the opinion of the Depositary
is not obtainable, or if any such approval or license is not obtained within a reasonable period as determined by the Depositary, the Depositary may distribute the foreign currency (or an appropriate document evidencing the right to receive such
foreign currency) received by the Depositary to, or in its discretion may hold such foreign currency for the respective accounts, of the Owners of Receipts entitled to receive the same. 
 If any such conversion of foreign currency, in whole or in part, cannot be effected for distribution to some Owners of Receipts entitled thereto, the
Depositary may in its discretion make such conversion and distribution in dollars to the extent permissible to the Owners of Receipts entitled thereto and may distribute the balance of the foreign currency received by the Depositary to, or hold such
balance for the account of, the Owners of Receipts entitled thereto. 
 SECTION 4.06. Fixing of Record Date. Whenever any cash
dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or whenever rights shall be issued with respect to the Deposited Securities, or whenever the Depositary shall receive notice of any meeting
of holders of Shares or other Deposited Securities, the Depositary shall fix a record date for the determination of the Owners of Receipts who shall be entitled to receive such dividend, distribution or rights, or the net proceeds of the sale
thereof, or to give instructions for the exercise of voting rights at any such meeting. Subject to the provisions of Sections 4.01 through 4.05 and to the other terms and conditions of this Deposit Agreement, the Owners of Receipts on such record
date shall be entitled to receive the amount distributable by the Depositary with respect to such dividend or other distribution or such rights or the net proceeds of sale thereof in proportion to the number of American Depositary Shares held by
them respectively. 
  

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 SECTION 4.07. Voting of Deposited Securities. Upon receipt of notice of any meeting of holders of
Shares or other Deposited Securities, the Depositary shall, as soon as practicable thereafter, mail to the Owners or Receipts a notice which shall contain (a) such information as is contained in such notice of meeting, and (b) a statement
that the Owners of Receipts as the close of business on a specified record date will be entitled, subject to any applicable provision of English law and of the Articles of Association of the Issuer, to instruct the Depositary as to the exercise of
the voting rights, if any, pertaining to the amount of Shares or other Deposited Securities represented by their respective American Depositary Shares and (c) a statement as to the manner in which such instructions may be given to the
Depositary, including an express indication that such instructions may be given, or deemed given, in accordance with the last sentence of this paragraph and if no instruction is received, to vote any Shares or other Deposited Securities represented
by American Depositary Shares in proportion to the votes cast in respect of the Shares or other Deposited Securities represented by American Depositary Shares for which the Depositary has received instructions to vote. Upon the written request of an
Owner of a Receipt on such record date, received on or before the date established by the Depositary for such purpose (the “Instruction Date”), the Depositary shall endeavor in so far as practicable to vote or cause to be voted the amount
of Shares or other Deposited Securities represented by such Receipt in accordance with the instructions set forth in such request. If no instructions are received by the Depositary from any Owner with respect to any of the Deposited Securities
represented by the American Depositary Shares evidenced by such Owner’s Receipts on or before the Instruction Date, the Depositary shall deem such Owner to have instructed the Depositary to vote such Shares or other Deposited Securities
represented by American Depositary Shares in proportion to the votes cast in respect of the Shares or other Deposited Securities represented by American Depositary Shares for which the Depositary has received instructions to vote. 
 SECTION 4.08. Changes Affecting Deposited Securities. Upon any change in nominal value, par value, split-up, consolidation or any other
reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or 
  

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 consolidation or sale of assets affecting the Issuer or to which it is a party, any securities which shall be received by
the Depositary or a Custodian in exchange for or in conversion of or in respect of Deposited Securities shall be treated as new Deposited Securities under this Deposit Agreement, and American Depositary Shares shall thenceforth represent the new
Deposited Securities so received in exchange or conversion, unless additional Receipts are delivered pursuant to the following sentence. In any such case the Depositary may, with the Issuer’s approval, and shall if the Issuer shall so request,
execute and deliver additional Receipts as in the case of a dividend on the Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such new Deposited Securities. 
 SECTION 4.09. Reports. The Depositary shall make available for inspection by Owners of Receipts as its Corporate Trust Office any reports and
communications, including any proxy soliciting material, received from the Issuer which are both (a) received by the Depositary as the holder of the Deposited Securities and (b) made generally available to the holders of such Deposited
Securities by the Issuer. The Depositary shall also send to Owners of Receipts copies of such reports when furnished by the Issuer pursuant to Section 5.06. 
 SECTION 4.10. Lists of Receipt Owners. Promptly upon request by the Issuer, the Depositary shall furnish to it a list, as of a recent date, of the names, addresses and holdings of American Depositary Shares by
all persons in whose names Receipts are registered on the books of the Depositary. 
 ARTICLE 5. THE DEPOSITARY, THE
CUSTODIANS AND THE ISSUER. 
 SECTION 5.01. Maintenance of Office and Transfer Books by the Depositary. Until termination of this
Deposit Agreement in accordance with its terms, the Depositary shall maintain in the Borough of Manhattan, The City of New York, facilities for the execution and delivery, registration, registration of transfers and surrender of Receipts in
accordance with the provisions of this Deposit Agreement. The Depositary or its agent agrees to register as a foreign nominee for the purposes of this Agreement pursuant to English Law. 
  

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 The Depositary shall keep books for the registration of Receipts and transfers of Receipts which at all
reasonable times shall be open for inspection by the Owners of Receipts, provided that such inspection shall not be for the purpose of communicating with Owners of Receipts in the interest of a business or object other than the business of the
Issuer or a matter related to this Deposit Agreement or the Receipts. 
 The Depositary may close the transfer books, at any time or from
time to time, when deemed expedient by it in connection with the performance of its duties hereunder. 
 If any Receipts or the American
Depositary Shares represented thereby are listed on one or more stock exchanges in the United States, the Depositary shall act as Registrar or, with the approval of the Issuer, appoint a Registrar or one or more co-registrars for registry of such
Receipts in accordance with any requirements of such exchange or exchanges. Such Registrar or co-registrars may be removed upon the request or with the approval of the Issuer. 
 SECTION 5.02. Prevention or Delay in Performance by the Depositary or the Issuer. Neither the Depositary nor the Issuer shall incur any liability
to any Owners or holders of any Receipt, if by reason of any provision of any present or future law of the United States or any other country, or of any other governmental authority, or by reason of any provision, present or future, of the Articles
of Association of the Issuer, or by reason of any act of God or war or other circumstances beyond its control, the Depositary or the Issuer shall be prevented or forbidden from doing or performing any act or thing which by the terms of this Deposit
Agreement it is provided shall be done or performed; nor shall the Depositary or the Issuer incur any liability to any Owner or holder of a Receipt by reason or any non-performance or delay, caused as aforesaid, in performance of any act or thing
which by the terms of this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. 
 SECTION 5.03. Obligations of the Depositary, the Custodian and the Issuer. The Issuer assumes no obligation nor shall it be subject to any
liability under this Deposit Agreement to Owners or holders of Receipts, (including, without limitation, liability with 
  

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 respect to the validity or worth of the Deposited Securities) other than that it agrees to use its best judgment and good
faith in the performance of its obligations set forth in this Deposit Agreement. 
 The Depositary assumes no obligation nor shall it be
subject to any liability under this Deposit Agreement to Owners or holders of Receipts (including, without limitation, liability with respect to the validity or worth of the Deposited Securities), other than that it agrees to use its best judgment
and good faith in the performance of such duties as are specifically set forth in this Deposit Agreement. 
 Neither the Depositary nor the
Issuer shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the Receipts, which in its opinion may involve it in expense or liability, unless
indemnity satisfactory to it against all expense and liability be furnished as often as may be required, and the Custodian shall not be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being
solely to the Depositary. 
 Neither the Depositary nor the Issuer shall be liable for any action or non-action by it in reliance upon the
advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Owner or holder of a Receipt, or any other person believed by it in good faith to be competent to give such advice or information. 
 The Depositary shall not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, or for the manner in which
any such vote is cast or the effect of any such vote, provided that any such action or non-action is in good faith. 
 No disclaimer of
liability under the Securities Act of 1933 is intended by any provision of this Deposit Agreement. 
 SECTION 5.04. Resignation and
Removal of the Depositary; Appointment of Successor Depositary. The Depositary may at any time resign as Depositary hereunder 
  

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 by written notice of its election so to do delivered to the Issuer, such resignation to take effect upon the appointment
of a successor depositary and its acceptance of such appointment as hereinafter provided. 
 The Depositary may at any time be removed by the
Issuer by written notice of such removal effective upon the appointment of a successor depositary and its acceptance of such appointment as hereinafter provided. 
 In case at any time the Depositary acting hereunder shall resign or be removed, the Issuer shall use its best efforts to appoint a successor depositary, which shall be a bank or trust company having an office in the
Borough of Manhattan, The City of New York. Every successor depositary shall execute and deliver to its predecessor and to the Issuer an instrument in writing accepting its appointment hereunder, and thereupon such successor depositary, without any
further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor; but such predecessor, nevertheless, upon payment of all sums due it and on the written request of the Issuer shall execute and
deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in the Deposited Securities to such successor, and shall deliver to such
successor a list of the Owners of all outstanding Receipts. Any such successor depositary shall promptly mail notice of its appointment to the Owners of Receipts. 
 Any corporation into or with which the Depositary may be merged or consolidated shall be the successor of the Depositary without the execution or filing of any document or any further act. 
 SECTION 5.05. The Custodians. The Depositary has appointed the London, England office of the Depositary as custodian and agent of the Depositary
for the purposes of this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the directions of the Depositary and shall be responsible solely to it. Any Custodian may resign and
be discharged from its duties hereunder by notice of such resignation delivered to the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon such resignation 
  

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 there shall be no Custodian acting hereunder, the Depositary shall, promptly after receiving such notice, appoint a
substitute custodian or custodians, each of which shall thereafter be a Custodian hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the Owners of Receipts to do so, it may appoint a substitute or
additional custodian or custodians, which shall thereafter be one of the Custodians hereunder. Upon demand of the Depositary any Custodian shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or
such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Depositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the
Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Owners of Receipts. At no time, however, shall there be more than two Custodians acting under this Agreement. 
 Upon the appointment of any successor depositary hereunder, each Custodian then acting hereunder shall forthwith become, without any further acting or
writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall in no way impair the authority of each Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the
written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority as agent hereunder of such successor depositary. 
 SECTION 5.06. Notices and Reports. On or before the first date on which the Issuer gives notice, by publication or otherwise, of any meeting of
holders of Shares or other Deposited Securities, or of any adjourned meeting of such holders, or of the taking of any action in respect of any cash or other distributions or the offering of any rights, the Issuer agrees to transmit to the Custodians
a copy of the notice thereof in the form given or to be given to holders of Shares or other Deposited Securities. 
 The Depositary will, at
the Issuer’s expense, arrange for the prompt transmittal by the Custodians to the Depositary of such notices and any other reports and 
  

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 communications which are made generally available by the Issuer to holders of its Shares, and arrange for the mailing, at
the Issuer’s expense, of copies thereof to all Owners of Receipts. 
 SECTION 5.07. Issuance of Additional Shares, etc. The
Issuer agrees that in the event of any issuance of (1) additional Shares, (2) rights to subscribe for Shares, (3) securities convertible into Shares, or (4) rights to subscribe for such securities, the Issuer will promptly
furnish to the Depositary a written opinion from counsel for the Issuer in the United States, which counsel shall be satisfactory to the Depositary, stating whether or not the circumstances of such issue are such as to make it necessary for a
Registration Statement under the Securities Act of 1933 to be in effect prior to the delivery of the Receipts to be issued in connection with such securities or the issuance of such rights. If in the opinion of such counsel a Registration Statement
is required, such counsel shall furnish to the Depositary a written opinion as to whether or not there is a Registration Statement in effect which will cover such issuance of securities or rights. 
 The Issuer agrees with the Depositary that neither the Issuer nor any company controlled by the Issuer will at any time deposit any Shares, either upon
original issuance or upon a sale of Shares previously issued and reacquired by the Issuer by any company under its control, unless a Registration Statement is in effect as to such Shares under the Securities Act of 1933 unless Issuer promptly
furnishes to the Depositary a written opinion from counsel for the Issuer in the United States, which counsel shall be satisfactory to Depositary, stating that the circumstances of such deposit and issuance of Receipts are such that no Registration
Statement under the Securities Act of 1933, as amended from time to time, or any successor statute, is required to be in effect prior to the delivery of the Receipts to be issued in connection with any such deposit. 
 SECTION 5.08. Indemnification. The Issuer agrees to indemnify the Depositary and the Custodian against, and hold each of them harmless from, any
liability or expense which may arise out of acts performed or omitted, in accordance with the provisions of this Deposit Agreement and of the Receipts, as the same may be amended, modified or supplemented from time to time, (i) by either the
Depositary or the Custodian, except for any liability or expense arising out of the negligence or bad faith of either of them, or (ii) by the Issuer or any of its agents. 
  

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 The Depositary agrees to indemnify the Issuer and hold it harmless from any liability or expense which
may arise out of acts performed or omitted by the Depositary or its Custodian due to their negligence or bad faith. 
 SECTION 5.09.
Charges of Depositary. The Issuer agrees to pay the charges and expenses of the Depositary as indicated in Exhibit B hereto to be paid by the Issuer, and those of the Foreign Registrar, other than (1) the fees of the Depositary for the
execution and delivery of Receipts pursuant to Section 2.03 and the surrender of Receipts pursuant to Section 2.05, (2) taxes and other governmental charges, (3) such registration fees as may from time to time be in effect for
the registration of transfers of Shares generally on the share register of the Issuer (or the appointed agent of the Issuer for transfer and registration of Shares which may but need be the Foreign Registrar) and accordingly applicable to transfers
of Shares to the name of the Depositary or its nominee or Custodian or its nominee on the making or deposits hereunder, (4) such cable, telex and facsimile transmission expenses as are expressly provided in this Deposit Agreement to be at the
expense of persons depositing Shares or Owners of Receipts, and (5) such expenses as are incurred by the Depositary in the conversion of foreign currency pursuant to Section 4.05. Any other charges and expenses of the Depositary hereunder
will be paid by the Issuer after consultation and agreement between the Depositary and the Issuer as to the amount and nature of such charges and expenses. Such charges may at any time and from time to time be changed by agreement between the Issuer
and the Depositary. The Depositary shall present its statement for such charges and expenses to the Issuer once every three months. The charges and expenses of the Custodian are for the sole account of the Depositary. 
 The Depositary, subject to Section 2.09 hereof, may own and deal in any class of securities of the Issuer and its affiliates and in Receipts.

  

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 ARTICLE 6. AMENDMENT AND TERMINATION 
 SECTION 6.01. Amendment. The form of the Receipts and any provisions of this Deposit Agreement may at any time and from time to time be amended by agreement between the Issuer and the Depositary in any respect
which they may deem necessary or desirable. Any amendment which shall impose or increase any fees or charges (other than taxes and other governmental charges), or which shall otherwise prejudice any substantial existing right of Owners of Receipts,
shall, however, not become effective as to outstanding Receipts until the expiration of three months after notice of such amendment shall have been given to the Owners of outstanding Receipts. Every Owner of a Receipt at the time any amendment so
becomes effective shall be deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the Owner of any Receipt
to surrender such Receipt and receive therefor the Deposited Securities represented thereby. 
 SECTION 6.02. Termination. The
Depositary shall at any time at the direction of the Issuer terminate this Deposit Agreement by mailing notice of such termination to the Owners of all Receipts then outstanding at least 30 days prior to the date fixed in such notice for such
termination. The Depositary may likewise terminate this Deposit Agreement by mailing notice of such termination to the Issuer and the Owners of Receipts then outstanding if at any time 60 days shall have expired after the Depositary shall have
delivered to the Issuer a written notice of its election to resign and a successor depositary shall not have been appointed and accepted its appointment as provided in Section 5.04. If any Receipts shall remain outstanding after the date of
termination, the Depositary thereafter shall discontinue the registration of transfers of Receipts, shall suspend the distribution of dividends to the Owners thereof, and shall not give any further notices or perform any further acts under this
Deposit Agreement, except that the Depositary shall continue to collect dividends and other distributions pertaining to Deposited Securities, shall sell rights as provided in this Deposit Agreement, and shall continue to deliver Deposited
Securities, together with any dividends or other distributions received with respect thereto and the net proceeds of the sale of any rights or 
  

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 other property, in exchange for Receipts surrendered to the Depositary. At any time after the expiration of one year from
the date of termination, the Depositary may sell the Deposited Securities then held hereunder and may thereafter hold the net proceeds of any such sale, together with any other cash then held by it hereunder, uninvested and without liability for
interest, for the pro rata benefit of the Owners of Receipts which have not theretofore been surrendered such Owners thereupon becoming the general creditors of the Depositary with respect to such net proceeds. After making such sale, the Depositary
shall he discharged from all obligations under this Deposit Agreement, except to account for such net proceeds and other cash. Upon the termination of this Deposit Agreement, the Issuer shall be discharged from all obligations under this Deposit
Agreement except for its obligations to the Depositary under Sections 5.08 and 5.09 hereof. 
 ARTICLE 7. MISCELLANEOUS

 SECTION 7.01. Counterparts. This Deposit Agreement may be executed in any number of counterparts, each of which shall be deemed an
original and all of such counterparts shall constitute one and the same instrument. Copies of this Deposit Agreement shall be filed with the Depositary and the Custodians and shall be open to inspection by any Holder of a Receipt during business
hours. 
 SECTION 7.02. No Third Party Beneficiaries. This Deposit Agreement is for the exclusive benefit of the parties hereto and
shall not be deemed to give any legal or equitable right, remedy or claim whatsoever to any other person. 
 SECTION 7.03.
Severability. In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining
provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby. 
 SECTION 7.04. Holders and Owners
Parties: Binding Effect. The Holders and Owners of Receipts from time to time shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions hereof and of the Receipts by acceptance thereof. 
  

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 SECTION 7.05. Notices. Any and all notices to be given to the Issuer shall be deemed to have been
duly given if personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to Senetek plc, 620 Airpark Road, Napa, California 94558, att: Frank J. Massino, Chief Executive Officer, Chief Executive
Officer, or any other place to which the Issuer may have transferred the office of its Chief Executive Officer. 
 Any and all notices to be
given to the Depositary shall be deemed to have been duly given if personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to The Bank of New York, 101 Barclay Street, New York, New York 10286,
or any other place to which the Depositary may have transferred its Corporate Trust Office. 
 Any and all notices to be given to any Owner
of a Receipt shall be deemed to have been duly given if personally delivered or sent by mail or cable, telex or facsimile transmission confirmed by letter, addressed to such Owner at the address of such Owner as it appears on the transfer books for
Receipts of the Depositary, or, if such Owner shall have filed with the Depositary a written request that notices intended for such Owner be mailed to some other address, at the address designated in such request. 
 Delivery of a notice sent by mail or cable, telex or facsimile transmission shall be deemed to be effected at the time when a duly addressed letter
containing the same (or a confirmation thereof in the case of a cable, telex or facsimile transmission) is deposited, postage prepaid, in a post-office letter box. The Depositary or the Issuer may, however, act upon any cable, telex or facsimile
transmission received by it from the other or from any Owner of a Receipt, notwithstanding that such cable, telex or facsimile transmission shall not subsequently be confirmed by letter as aforesaid. 
  

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 SECTION 7.06. Governing Law. This Deposit Agreement and the Receipts shall be interpreted and all
rights hereunder and thereunder and provisions hereof and thereof shall be governed by the laws of the State of New York. 
 SECTION 7.07.
Compliance With U.S. Securities Laws. Notwithstanding any terms of this Deposit Agreement to the contrary, the Issuer and the Depositary each agrees that it will not exercise any rights it has under the Deposit Agreement to prevent the
withdrawal or delivery of Deposited Securities in a manner which would violate the United States securities laws, including, but not limited to, Section I.A(1) of the General Instructions to the Form F-6 Registration Statement, as amended from time
to time, under the Securities Act of 1933. 
  

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 IN WITNESS WHEREOF, SENETEK PLC and THE BANK OF NEW YORK have duly executed this agreement as of the day
and year first above set forth and all Owners of Receipts shall become parties hereto upon acceptance by them of Receipts issued in accordance with the terms hereof. 
  

			
	 SENETEK PLC

		
	 By:
	 	 /s/ [ILLEGIBLE]

	
	 THE BANK OF NEW YORK

		
	 By:
	 	  

  

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 IN WITNESS WHEREOF, SENETEK PLC and THE BANK OF NEW YORK have duly executed this agreement as of the day
and year first above set forth and all Owners of Receipts shall become parties hereto upon acceptance by them of Receipts issued in accordance with the terms hereof. 
  

			
	SENETEK PLC
		
	By:	 	  

	
	THE BANK OF NEW YORK
		
	By:	 	 /s/ David S. Stueber

		 	 David S. Stueber
 Managing
Director

 No. 
  
  

			
	 [Sponsored-Exempt]
	 	  

		 	AMERICAN DEPOSITARY SHARES
		 	(Each American Depository Share represents one Deposited Share)

 THE BANK OF NEW YORK 
 AMERICAN DEPOSITARY RECEIPT 
 FOR ORDINARY FIVE PENCE SHARES OF 
 SENETEK PLC 
 (INCORPORATED UNDER THE LAWS OF
ENGLAND) 
 The Bank of New York as Depositary (hereinafter called the Depositary), hereby certifies that
                    , or registered assigns IS THE OWNER OF
                                 
 AMERICAN DEPOSITARY SHARES 
 representing deposited Ordinary
Five Pence Shares (herein called Shares) of Senetek plc, incorporated under the laws of England (herein called the Company). At the date hereof, each American Depositary Share represents one Share which is either deposited or subject to deposit
under the Deposit Agreement at the London, England office of the Depositary (herein called the Custodian). The Depositary’s Corporate Trust office is located at a different address than its principal executive office. Its Corporate Trust office
is located at 101 Barclay Street, New York, N.Y. 10286, and its principal executive office is located at One Wall Street, New York, N.Y. 10286. 
 THE DEPOSITARY’S CORPORATE TRUST OFFICE ADDRESS IS 
 101 BARCLAY STREET, NEW YORK, N.Y. 10286 

 any time or from time to time because of any requirement of law or of any government or governmental body or commission,
or under any provision of the Deposit Agreement or this Receipt, or for any other reason, subject to paragraph (22) hereof. The surrender of outstanding Receipts and withdrawal of Deposited Securities may not be suspended subject only to
(i) temporary delays caused by closing the transfer books of the Depositary or the Company or the deposit of Shares in connection with voting at a shareholders’ meeting, or the payment of dividends, (ii) the payment of fees, taxes and
similar charges, and (iii) compliance with any U.S. or foreign laws or governmental regulations relating to the Receipts or to the withdrawal of the Deposited Securities. Without limitation of the foregoing, the Depositary will not knowingly
accept for deposit under the Deposit Agreement any Shares required to be registered under the provisions of the Securities Act of 1933, unless a registration statement is in effect as to such Shares. 
 4. LIABILITY OF OWNER FOR TAXES. 
 If
any tax or other governmental charge shall become payable with respect to any Deposited Securities represented hereby, such tax or other governmental charge shall be payable by the Owner hereof to the Depositary. The Depositary may refuse to effect
any transfer of this Receipt or any withdrawal of Deposited Securities represented hereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Owner hereof any part or all of the
Deposited Securities represented by this Receipt, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge and the Owner hereof shall remain liable for any deficiency.

 5. WARRANTIES OF DEPOSITORS. 
 Every person depositing Shares hereunder shall be deemed thereby to represent and warrant that such Shares and each certificate therefor are validly issued, fully paid, non-assessable and free of any pre-emption rights of the holders of
outstanding Shares and that the person making such deposit is duly authorized so to do. Every person shall also be deemed to represent that Shares deposited by that person are not restricted securities. Such representations and warranties shall
survive the deposit of Shares and issuance of Receipts. 
  

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 6. FILING PROOFS, CERTIFICATES AND OTHER INFORMATION. 
 Any person presenting Shares for deposit or any Owner of a Receipt may be required from time to time to file such proof of citizenship or residence,
exchange control approval, or such information relating to the registration on the books of the Issuer (or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the foreign Registrar) of the Shares
presented for deposit or other information, to execute such certificates and to make such representations and warranties, as the Depositary may deem necessary or proper. The Depositary may withhold the delivery or registration of transfer of any
Receipt or the distribution or sale of any dividend or other distribution or rights or of the proceeds thereof or the delivery of any Deposited Securities until such proof or other information is filed or such certificates are executed. 

7. CHARGES OF DEPOSITARY. 
 The
Depositary will charge the party to whom Receipts are delivered against deposits, and the party surrendering Receipts for delivery of Deposited Securities, $5.00 or less for each 100 American Depositary Shares (or portion thereof) represented by the
Receipts issued or surrendered. The Company will pay the other charges of the Depositary and those of any Registrar under the Depositary Agreement, other than (i) taxes and other governmental charges, (ii) share transfer registration fees
on deposits of Shares, (iii) such cable, telex and facsimile transmission expenses as are expressly provided in the Deposit Agreement to be at the expense of persons depositing Shares or Owners of Receipts, and (iv) such expenses are
incurred by the Depositary in the conversion of foreign currency into dollars. 
 The Depositary, subject to paragraph (8) hereof, may
own and deal in any class of securities of the Company and its affiliates and in Receipts. 
  

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 8. LOANS AND PRE-RELEASE OF SHARES AND RECEIPTS. 
 In its capacity as Depositary, the Depositary will lend neither the Shares held under the Deposit Agreement nor the Receipts; provided, however, that the
Depositary reserves the right to (i) issue Receipts prior to the receipt of Shares pursuant to Section 2.2 of the Deposit Agreement and (ii) deliver Shares prior to the receipt and cancellation of Receipts pursuant to Section 2.5
of the Deposit Agreement, including Receipts which were issued under (i) above but for which Shares may not have been received. The Depositary may receive Receipts in lieu of Shares under (i) above and receive Shares in lieu of Receipts
under (ii) above. Each such transaction will be (a) accompanied by a written representation from the person to whom Receipts or Shares are to be delivered that such person, or its customer, owns the Shares or Receipts to be remitted, as
the case may be, (b) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (c) terminable by the Depositary on not more than five (5) business days notice, and (d) subject to
such further indemnities and credit regulations as the Depositary deems appropriate. The Depositary will normally limit the number of Receipts and Shares involved in such transactions at any one time to thirty percent (30%) of the Receipts
outstanding (without giving effect to Receipts outstanding under (i) above), or Shares held under the Deposit Agreement, respectively; provided, however, that the Depositary reserves the right to change or disregard such limit from time to time
as it deems appropriate. The Depositary will also set limits with respect to the number of Receipts and Shares involved in transactions to be done under the Deposit Agreement with any one person on a case by case basis as it deems appropriate.

 The Depositary may retain for its own account any compensation received by it in connection with the foregoing. 
 9. TITLE TO RECEIPTS. 
 It is a
condition of this Receipt and every successive holder and Owner of this Receipt by accepting or holding the same consents and agrees, that title of this Receipt when properly endorsed or accompanied by proper instruments of transfer, is transferable
by delivery with the same effect as in the case of a negotiable instrument, provided, however, that the Depositary, notwithstanding any notice to the contrary, may treat the 
  

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 person whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose
of determining the person entitled to distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement or for all other purposes. 
 10. VALIDITY OF RECEIPT. 
 This Receipt shall not be entitled to any benefits under the Deposit
Agreement or be valid or obligatory for any purpose, unless this Receipt shall have been executed by the Depositary by the manual signature of a duly authorized officer or, if a Registrar shall have been appointed, by the manual signature of a duly
authorized officer of the Registrar. 
 11. REPORTS: INSPECTION OF TRANSFER BOOKS. 
 The Company is subject to the periodic reporting requirements of the Securities Exchange Act of 1934 and, accordingly, files certain reports with the
Securities and Exchange Commission (hereinafter called the Commission). Such reports and communications will be available for inspection and copying by holders and Owners at the public reference facilities maintained by the Commission located at 450
Fifth Street, N.W. in Washington, D.C. 20549. 
 The Depositary will make available for inspection by Owners of Receipts as its Corporate
Trust Office any reports and communications, including any proxy soliciting material, received from the Company which are both (a) received by the Depositary as the holder of the Deposited Securities and (b) made generally available to the
holders of such Deposited Securities by the Company. The Depositary will also send to Owners of Receipts copies of such reports when furnished by the Company pursuant to the Deposit Agreement. 
 The Depositary will keep books for the registration of Receipts and transfers of Receipts which at all reasonable times shall be open for inspection by
the Owners of Receipts, provided that such inspection shall not be for the purpose of communicating with Owners of Receipts in the interest of a business or object other than the business of the Company or a matter related to the Deposit Agreement
or the Receipts. 
  

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 12. DIVIDENDS AND DISTRIBUTIONS. 
 Whenever the Depositary receives any cash dividend or other cash distribution on any Deposited Securities, the Depositary will, if at the time of receipt
thereof any amounts received on a foreign currency can in the judgment of the Depositary be converted on a reasonable basis into United States dollars transferable to the United States, and, subject to the Deposit Agreement, convert such dividend or
distribution into dollars and shall distribute the amount thus received to the Owners of Receipts entitled thereto, provided, however, that in the event that the Company or the Depositary is required to withhold and does withhold from any cash
dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, the amount distributed to the Owner of Receipts for American Depositary Shares representing such Deposited Securities shall be reduced
accordingly. 
 Whenever the Depositary receives any distribution other than cash or Shares upon any Deposited Securities, the Depositary
will cause the securities or property received by it to be distributed to the Owners of Receipts entitled thereto, in any manner that the Depositary may deem equitable and practicable for accomplishing such distribution; provided, however, that if
in the opinion of the Depositary such distribution cannot be made proportionately among the Owners of Receipts entitled thereto, or if for any other reason the Depositary deems such distribution not to be feasible, the Depositary may adopt such
method as it may deem equitable and practicable for the purpose of effecting such distribution, including the sale (at public or private sale) of the securities or property thus received, or any part thereof, and the net proceeds of any such sale
shall be distributed by the Depositary to the Owners of Receipts entitled thereto as in the case of a distribution received in cash. 
 If
any distribution consists of a dividend in, or free distribution of, Shares, the Depositary may with the Company’s approval, and shall if the Company shall so request, distribute to the Owner of outstanding Receipts entitled thereto, additional
Receipts for an 
  

 - 8 - 

 aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free
distribution. In lieu of delivering Receipts for fractional Depositary Shares in any such case, the Depositary will sell the amount of Shares represented by the aggregate of such fractions and distribute the net proceeds, all in the manner and
subject to the conditions set forth in the Deposit Agreement. If additional Receipts are not so distributed (except as pursuant to the preceding sentence), each American Depositary Share shall thenceforth also represent the additional Shares
distributed upon the Deposited Securities represented thereby. 
 13. CONVERSION OF FOREIGN CURRENCY. 
 Whenever the Depositary shall receive foreign currency, by way of dividends or other distributions or the net proceeds from the sale of securities,
property or rights, and if at the time of the receipt thereof the foreign currency so received can in the judgment of the Depositary be converted on a reasonable basis into dollars and the resulting dollars transferred to the United States, the
Depositary shall convert or cause to be converted, by sale or in any other manner that it may determine, such foreign currency into dollars, and such dollars shall be distributed to the Owners of Receipts entitled thereto or, if the Depositary shall
have distributed any warrants or other instruments which entitle the holders thereof to such dollars, then to the holders of such warrants and/or instruments upon surrender thereof for cancellation. Such distribution may be made upon an averaged or
other practicable basis without regard to any distinctions among Owners on account of exchange restrictions or otherwise. 
 If such
conversion or distribution can be effected only with the approval or license of any government or agency thereof, the Depositary shall file such application for approval or license, if any, as it may deem desirable. 
 If at any time the Depositary shall determine that in its judgment any foreign currency received by the Depositary is not convertible on a reasonable
basis into dollars transferable to the United States, or if any approval or license of any government or agency thereof which is required for such conversion is denied or in the opinion of the Depositary is not obtainable, or if any such approval or
license is not obtained within a 
  

 - 9 - 

 reasonable period as determined by the Depositary, the Depositary may distribute the foreign currency (or an appropriate
document evidencing the right to receive such foreign currency) received by the Depositary to, or in its discretion may hold such foreign currency for the respective accounts, of the Owners of Receipts entitled to receive the same. 
 If any such conversion of foreign currency, in whole or in part, cannot be effected for distribution to some Owners of Receipts entitled thereto, the
Depositary may in its discretion make such conversion and distribution in dollars to the extent permissible to the Owners of Receipts entitled thereto and may distribute the balance of the foreign currency received by the Depositary to, or hold such
balance for the account of, the Owners of Receipts entitled thereto. 
 14. RIGHTS. 
 In the event that the Company offers or causes to be offered to the holders of any Deposited Securities any rights to subscribe for additional Shares or
any rights of any other nature, the Depositary will have discretion as to the procedure to be followed in making such rights available to any Owners of Receipts or in disposing of such Rights on behalf of such Owners and making the net proceeds
available in dollars to such Owners; provided, however, that the Depositary will, if requested by the Company, take action as follows: 
 (i) if at the time of the offering of any rights the Depositary determines that it is lawful and feasible to make such rights available to Owners of Receipts by means of warrants or otherwise, the Depositary will
distribute warrants or other instruments therefor in such form as it may determine to the Owners entitled thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities, or employ such other method as it
may deem feasible in order to facilitate the exercise, sale or transfer of rights by such Owners; or 
  

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 (ii) if at any time of the offering of any rights the Depositary determines that it is
not lawful or not feasible to make such rights available to Owners of Receipts by means of warrants or otherwise, or if the rights represented by such warrants or such other instruments are not exercised and appear to be about to lapse, the
Depositary in its discretion may sell such rights or such warrants or other instruments at public or private sale, at such place or places and upon such terms as it may deem proper, and may allocate the proceeds of such sales for account of the
Owners of Receipts otherwise entitled to such rights, warrants or other instruments, upon an averaged or other practicable basis without regard to any distinctions among such Owners because of exchange restrictions, or the date of delivery of any
Receipt or Receipts, or otherwise. 
 If registration under the Securities Act of 1933 of the securities to which any rights relate is
required in order for the Company to offer such rights to the Owners of Receipts or to sell the securities represented by such rights, the Depositary will not offer such rights to the Owner of Receipts unless and until such a registration statement
is in effect, or unless the offering and sale of such securities to the Owners of such Receipts are exempt from registration under the provisions of such Act. 
 15. RECORD DATES. 
 Whenever any cash dividend or other cash distribution shall become payable or any
distribution other than cash shall be made, or whenever rights shall be issued with respect to the Deposited Securities, or whenever the Depositary shall receive notice of any meeting of holders of Shares or other Deposited Securities, the
Depositary will fix a record date for the determination of Owners of Receipts who will be entitled to receive such dividend, distribution or rights, or the net proceeds of the sale thereof, or to give instruments for the exercise of voting rights at
any such meeting, subject to the provisions of the Deposit Agreement. 
  

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 16. VOTING OF DEPOSITED SECURITIES. 
 Upon receipt of notice of any meeting of holders of Shares or other Deposited Securities, the Depositary shall, as soon as practicable thereafter, mail to
the Owners of Receipts a notice which shall contain (a) such information as is contained in such notice of meeting, and (b) a statement that the Owners of Receipts as the close of business on a specified record date will be entitled,
subject to any applicable provision of English law and of the Articles of Association of the Issuer, to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the amount of Shares or other Deposited Securities
represented by their respective American Depositary Shares and (c) a statement as to the manner in which such instructions may be given to the Depositary, including an express indication that such instructions may be given, or deemed given, in
accordance with the last sentence of this Article 16 and if no instruction is received, to vote any Shares or other Deposited Securities represented by American Depositary Shares in proportion to the votes cast in respect of the Shares or other
Deposited Securities represented by American Depositary Shares for which the Depositary has received instructions to vote. Upon the written request of an Owner of a Receipt on such record date, received on or before the date established by the
Depositary for such purpose (the “Instruction Date”), the Depositary shall endeavor in so far as practicable to vote or cause to be voted the amount of Shares or other Deposited Securities represented by such Receipt in accordance with the
instructions set forth in such request. If no instructions are received by the Depositary from any Owner with respect to any of the Deposited Securities represented by the American Depositary Shares evidenced by such Owner’s Receipts on or
before the Instruction Date, the Depositary shall deem such Owner to have instructed the Depositary to vote such Shares or other Deposited Securities represented by American Depositary Shares in proportion to the votes cast in respect of the Shares
or other Deposited Securities represented by American Depositary Shares for which the Depositary has received instructions to vote. 
 17.
CHANGES AFFECTING DEPOSITED SECURITIES. 
 Upon any change in nominal value, par value, split-up, consolidation or any other
reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the Company or to which it is a party, 
  

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 any securities which shall be received by the Depositary or a Custodian in exchange for or in conversion of or in respect
of Deposited Securities shall be treated as new Deposited Securities under this Deposit Agreement, and American Depositary Shares shall thenceforth represent the new Deposited Securities so received in exchange or conversion, unless additional
Receipts are delivered pursuant to the following sentence. In any such case the Depositary may, with the Company’s approval and shall if the Company shall so request, execute and deliver additional Receipts as in the case of a dividend on the
Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such new Deposited Securities. 
 18. LIABILITY OF THE COMPANY AND DEPOSITARY. 
 Neither the Depositary nor the Company shall incur any liability to any Owners
or holders of any Receipt, if by reason of any provision of any present or future law of the United States or any other country, or of any other governmental authority, or by reason of any provision, present or future, of the Articles of Association
of the Company, or by reason of any act of God or war or other circumstances beyond its control, the Depositary or the Company shall be prevented or forbidden from doing or performing any act or thing which by the terms of the Deposit Agreement it
is provided shall be done or performed; nor shall the Depositary or the Company incur any liability to any Owner or holder of a Receipt by reason or any non-performance or delay, caused as aforesaid, in performance of any act or thing which by the
terms of the Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in the Deposit Agreement. Neither the Company nor the Depositary assumes any
obligation or shall be subject to any liability under the Deposit Agreement to Owners or holders of Receipts, except that they agree to use their best judgment and good faith in the performance of their obligations set forth in the Deposit
Agreement. Neither the Depositary nor the Company shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the Receipts, which in its opinion may
involve it in expense or liability, unless indemnity satisfactory to it against all expense and liability be furnished as often as may be required, and the Custodian shall not be 
  

 - 13 - 

 under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being solely to the
Depositary. Neither the Depositary nor the Company shall be liable for any action or non-action by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Owner or holder of
Receipt, or any other person believed by it in good faith to be competent to give such advice or information. The Depositary shall not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, or for the
manner in which any such vote is cast or the effect of any such vote, provided that any such action or non-action is in good faith. The Company agrees to indemnify the Depositary and the Custodian against, and hold each of them harmless from, any
liability or expense which may arise out of acts performed or omitted, in accordance with the provisions of the Deposit Agreement and of the Receipts, as the same may be amended, modified or supplemented from time to time, (i) by either the
Depositary or the Custodian, except for any liability or expense arising out of the negligence or bad faith or either of them, or (ii) by the Company or any of its agents. No disclaimer of liability under the Securities Act of 1933 is intended
by any provision of the Deposit Agreement. 
 19. RESIGNATION AND REMOVAL OF THE DEPOSITARY: APPOINTMENT OF SUCCESSOR CUSTODIAN.

 The Depositary may at any time resign as Depositary hereunder by written notice of its election so to do delivered to the Company, such
resignation to take effect upon the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by written notice of such removal
effective upon the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever the Depositary in its discretion determines that it is in the best interest of the Owners of Receipts to
do so, it may appoint a substitute or additional custodian or custodians. 
  

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 20. AMENDMENT. 
 The form of the Receipts and any provisions of the Deposit Agreement may at any time and from time to time be amended by agreement between the Company and the Depositary in any respect which they may deem necessary or
desirable. Any amendment which shall impose or increase any fees or charges (other than taxes and other governmental charges), or which shall otherwise prejudice any substantial existing right of Owners of Receipts, shall, however, not become
effective as to outstanding Receipts until the expiration of three months after notice of such amendment shall have been given to the Owners of outstanding Receipts. Every Owner of a Receipt at the time any amendment so becomes effective shall be
deemed, by continuing to hold such Receipt, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right of the Owner of any Receipt to surrender such Receipt
and receive therefor the Deposited Securities represented thereby. 
 21. TERMINATION OF DEPOSIT AGREEMENT. 
 The Depositary will at any time at the direction of the Company terminate the Deposit Agreement by mailing notice of such termination to the Owners of all
Receipts then outstanding at least 30 days prior to the date fixed in such notice for such termination. The Depositary may likewise terminate the Deposit Agreement by mailing notice of such termination to the Company and the Owners of Receipts then
outstanding if at any time 60 days shall have expired after the Depositary shall have delivered to the Company a written notice of its election to resign and a successor depositary shall not have been appointed and accepted its appointment as
provided in the Deposit Agreement. If any Receipts shall remain outstanding after the date of termination, the Depositary thereafter shall discontinue the registration of transfers of Receipts, shall suspend the distribution of dividends to the
Owners thereof, and shall not give any further notices or perform any further acts under the Deposit Agreement, except that the Depositary shall continue to collect dividends and other distributions pertaining to Deposited Securities, shall sell
rights as provided in the Deposit Agreement, and shall continue to deliver Deposited Securities, together with any dividends or other distributions received with respect thereto and the net proceeds of the sale of any rights or other property, in

  

 - 15 - 

 exchange for Receipts surrendered to the Depositary. At any time after the expiration of one year from the date of
termination, the Depositary may sell the Deposited Securities then held under the Deposit Agreement and may thereafter hold the net proceeds of any such sale, together with any other cash then held by it hereunder, uninvested and without liability
for interest, for the pro rata benefit of the Owners of Receipts which have not theretofore been surrendered such Owners thereupon becoming the general creditors of the Depositary with respect to such net proceeds. After making such sale, the
Depositary shall be discharged from all obligations under the Deposit Agreement, except to account for such net proceeds and other cash. Upon the termination of the Deposit Agreement, the Company shall be discharged from all obligations under the
Deposit Agreement except for its obligations to the Depositary with respect to indemnification, charges and expenses. 
 22. COMPLIANCE
WITH U.S. SECURITIES LAWS. 
 Notwithstanding any terms of this Receipt or the Deposit Agreement to the contrary, the Company and the
Depositary have each agreed that it will not exercise any rights it has under the Deposit Agreement or the Receipt to prevent the withdrawal or delivery of Deposited Securities in a manner which would violate the United States securities laws,
including, but not limited to Section I A(l) of the General Instructions to the Form F-6 Registration Statement, as amended from time to time, under the Securities Act of 1933. 
  

 - 16 - 

 (ASSIGNMENT AND TRANSFER SIGNATURE LINES) 
  

			
	NOTE:	  	The signature to any endorsement hereon must correspond with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change
whatever.
		
		  	If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the person executing the endorsement must give his full title in such capacity and proper evidence
of authority to act in such capacity, if not on file with the Depositary, must be forwarded with this Receipt.
		
		  	All endorsements or assignments of Receipts must be guaranteed by a New York Stock Exchange member firm or member of the Clearing House of the American Stock Exchange Clearing Corporation or
by a bank or trust company having an office or correspondent in the City of New York.

  

 - 17 - 

 EXHIBIT B 
 FEE SCHEDULE OF THE DEPOSITARY 
 Administration fees will be charged to Senetek plc on a quarterly basis and will be
based on the average number of shareholder accounts maintained during the quarter. 
  

				
	 Number of Shareholder Accounts
	  	Charge Per Quarter
	 1 - 2,000
	  	$	1,000.00
	 2,0001 - 5,0000
	  	$	1,500.00
	 5,001 or more
	  	$	2,000.00

 The above administration fees cover the costs associated with the following services: 
  

	 	•	 	administration of the ADR program 

  

	 	•	 	transfer and registration of ADRs 

  

	 	•	 	maintenance of shareholder accounts 

  

	 	•	 	recording of ADRs issued and cancelled 

  

	 	•	 	issuance of dividend checks 

  

	 	•	 	preparation and filing of U.S. information returns 

  

	 	•	 	furnish shareholders with payee copies 

  

	 	•	 	issuance of dividend replacement checks 

  

	 	•	 	mailing shipment of ADRs 

  

	 	•	 	imprinting envelopes and labels 

  

	 	•	 	affixing labels to envelopes 

  

	 	•	 	non-routine and legal transfers 

  

	 	•	 	Inland Revenue reporting 

  

	 	•	 	S.E.C. F-6 reporting 

  

	 	•	 	storage of blank and cancelled ADR certificates 

 Any and all
out-of-pocket expenses will be charged to the Issuer at cost. Any service(s) performed not included in the administration fee will be paid by the Issuer after consultation and agreement between the Depositary and the Issuer as to the amount and
nature of such charge. 
 The administration charges will be waived for a period of one year.Consulting Agreement with Stewart Slade dated May 1, 2004

 Exhibit 10.75 
 Consulting Agreement 
 Consulting Agreement made as of May 1, 2004 between Senetek PLC, a
company registered under the laws of England with its principal place of business at 620 Airpark Road, Napa, California 94558 (“Senetek” and, together with its subsidiaries, the “Company”) and Mr. Stewart Slade, an individual
residing at 65 Moorlands, Welwyn Garden City, Herts AL7 4QJ, England (“Consultant”). 
 The Company wishes to retain the Consultant
to provide consulting services to the Company with respect to its InvicorpTM drug and ReliajectTM injector device, and the Consultant wishes to be so retained by the Company. 
 Accordingly, Senetek and Consultant hereby agree as follows: 
 1. Consulting Services. Senetek hereby retains Consultant to provide consulting, advisory and other services to the Company in connection with the handling, development, evaluation, testing and regulatory
compliance of Company’s proprietary drug Invicorp and its related proprietary automatic injection device Reliaject (the “Consulting Services”) and Consultant hereby agrees to provide the Consulting Services, all on the terms and
conditions hereof. The Consulting Services shall specifically include, but not be limited to: 
 a) The timely handling of all aspects of
inquiries by the MHRA re Senetek’s named patient supply program (“NPSP”) of Invicorp 1 and 2; 
 b) The sign-off of all
shipments of Invicorp 1 and 2 under the NPSP, and 
 c) Assisting with information requests made by MHRA and prospective licensees of
Invicorp and/or Reliaject. 
 The Consulting Services shall be performed by the Consultant or by such other person as the parties shall
agree. The Consulting Services shall be performed at such place or places and at such time or times as the parties may agree. Consultant shall not be committed to provide Consulting Services for in excess of three (3) calendar days per calendar
week during the Term (as hereinafter defined). 
 2. Consulting Term. The term of this Agreement (the “Term”) shall commence
as of the date first set forth above and shall continue until thirty (30) days after either party gives written notice of termination, such notice not to be given sooner than June 30, 2004. 
 3. Consulting Fee; Expense Reimbursement. During the Term through July 31, 2004, the Company shall pay fees at the rate of UK£5,000 per
calendar month, payable monthly in arrears after invoicing by the Consultant. If the Term continues beyond July 31, 2004, the Company shall pay fees at the rate of UK Pounds 400 per day of Consulting 

 Services provided. All such fees, together with VAT or like imposts if applicable, shall be paid by check to the order of
Consultant, referencing this Agreement and forwarded to Consultant at his address set forth above or such other address as he may furnish from time to time. The Company shall reimburse Consultant for reasonable travel and hotel expenses or temporary
living expenses if approved by the Company in advance within 28 days of Consultant submitting an itemized statement of expense reimbursement due. All such reimbursements shall be paid by check to the order of Consultant forwarded to him at his
address set forth above or such other address as he may furnish from time to time. Consultant shall be solely responsible for payment of any and all income taxes due with respect to Consultant’s receipt of all amounts paid hereunder. Consultant
acknowledges that the Consulting fees and expense reimbursement provided for hereunder are the only compensation to which Consultant or any other party shall be entitled, by contract or otherwise, in consideration of providing the Consulting
Services, and Consultant hereby waives and releases any and all other claims against the Company or any of its officers, directors, employees or representatives (“Representatives”). 
 4. Confidentiality. In connection with furnishing Consulting Services, Consultant agrees to comply with all of the provisions of the form of
Confidentiality and Non-Disclosure Agreement annexed hereto with respect to Confidential Information of Senetek to the same extent as if he were a “Recipient” signatory thereto. 
 5. Status of Parties. Consultant acknowledges that Consultant’s status, as respects the Company and any third parties with which Consultant
may come in contact, is that of a consultant and independent contractor and not an officer, employee or agent of the Company. Consultant agrees not to hold himself out as or represent himself as being, in performing Consulting Services or otherwise,
authorized to make any representation or commitment on behalf of the Company or any statement to representatives of the general, business or scientific press on behalf of or for attribution to the Company, whether or not for publication. 

6. Governing Law and Jurisdiction. This Agreement shall be governed by and construed and enforceable in accordance with the laws of the State
of California applicable to agreements between residents thereof to be wholly performed therein, and the parties irrevocably submit to the exclusive jurisdiction of the courts of that State for the resolution of any disputes hereunder. 

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first set forth above. 
  

					
	SENETEK PLC	  	CONSULTANT
			
	By:	 	 /s/ [ILLEGIBLE]
	  	 /s/ Stewart Slade

		 		  	Stewart Slade

  

 2

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