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THE COMPANIES ACT 2006

PRIVATE COMPANIES LIMITED BY SHARES

ARTICLE OF ASSOCIATION

OF

NOVO CENTRE VISUAL LTD

ARTICLE OF ASSOCIATION NOVO CENTRE VISUAL LTD

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INDEX TO THE ARTICLES

PART 1INTERPRETATION AND LIMITATION OF LIABILITY

1. Defined terms

. Li!"i#it$ %f mem"ers

PART

DIRECTORSDIRECTORS& PO'ERS AND RESPONSIBILITIES

(. Dire)t%rs& *ener!# !+t,%rit$-. S,!re,%#ders& resere /%0er

. Dire)t%rs m!$ de#e*!te

2. C%mmittees

DECISION3MA4IN5 BY DIRECTORS

6. Dire)t%rs t% t!7e de)isi%ns )%##e)tie#$

8. 9n!nim%+s de)isi%ns

:. C!##in* ! dire)t%rs& meetin*

1;. P!rti)i/!ti%n in dire)t%rs& meetin*s

11.

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8. E=er)ise %f tr!nsmittees& ri*,ts

:. Tr!nsmittees "%+nd "$ /ri%r n%ti)es

DIVIDENDS AND OTHER DISTRIB9TIONS

(;. Pr%)ed+re f%r de)#!rin* diidends

(1. P!$ment %f diidends !nd %t,er distri"+ti%ns(. N% interest %n distri"+ti%ns

((. 9n)#!imed distri"+ti%ns

(-. N%n3)!s, distri"+ti%ns

(. '!ier %f distri"+ti%ns

CAPITALISATION OF PROFITS

(2. A+t,%rit$ t% )!/it!#ise !nd !//r%/ri!ti%n %f )!/it!#ised s+ms

PART -

DECISION3MA4IN5 BY SHAREHOLDERSOR5ANISATION OF 5ENERAL MEETIN5S(6. Attend!n)e !nd s/e!7in* !t *ener!# meetin*s

(8.

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PART 1

INTERPRETATION AND LIMITATION OF LIABILITY

Defined terms1. In t,e !rti)#es@ +n#ess t,e )%nte=t re+ires %t,er0ise

!rti)#es me!ns t,e )%m/!n$&s !rti)#es %f !ss%)i!ti%n

"!n7r+/t)$ in)#+des indiid+!# ins%#en)$ /r%)eedin*s in ! >+risdi)ti%n %t,er

t,!n En*#!nd !nd '!#es %r N%rt,ern Ire#!nd 0,i), ,!e !n effe)t simi#!r t% t,!t

%f "!n7r+/t)$

),!irm!n ,!s t,e me!nin* *ien in !rti)#e 1

),!irm!n %f t,e meetin* ,!s t,e me!nin* *ien in !rti)#e (:

C%m/!nies A)ts me!ns t,e C%m/!nies A)ts !s defined in se)ti%n %f t,e

C%m/!nies A)t ;;2G@ in s% f!r !s t,e$ !//#$ t% t,e )%m/!n$

dire)t%r me!ns ! dire)t%r %f t,e )%m/!n$@ !nd in)#+des !n$ /ers%n %))+/$in*

t,e /%siti%n %f dire)t%r@ "$ 0,!teer n!me )!##ed

distri"+ti%n re)i/ient ,!s t,e me!nin* *ien in !rti)#e (1

d%)+ment in)#+des@ +n#ess %t,er0ise s/e)ified@ !n$ d%)+ment sent %r s+//#ied

in e#e)tr%ni) f%rm

e#e)tr%ni) f%rm ,!s t,e me!nin* *ien in se)ti%n 1128 %f t,e C%m/!nies A)t;;2

f+##$ /!id in re#!ti%n t% ! s,!re@ me!ns t,!t t,e n%min!# !#+e !nd !n$ /remi+m

t% "e /!id t% t,e )%m/!n$ in res/e)t %f t,!t s,!re ,!e "een /!id t% t,e )%m/!n$

,!rd )%/$ f%rm ,!s t,e me!nin* *ien in se)ti%n 1128 %f t,e C%m/!nies A)t

;;2

,%#der in re#!ti%n t% s,!res me!ns t,e /ers%n 0,%se n!me is entered in t,e

re*ister %f

mem"ers !s t,e ,%#der %f t,e s,!res

instr+ment me!ns ! d%)+ment in ,!rd )%/$ f%rm

%rdin!r$ res%#+ti%n ,!s t,e me!nin* *ien in se)ti%n 8 %f t,e C%m/!nies A)t

;;2

/!id me!ns /!id %r )redited !s /!id

/!rti)i/!te@ in re#!ti%n t% ! dire)t%rs& meetin*@ ,!s t,e me!nin* *ien in !rti)#e

1;


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/r%=$ n%ti)e ,!s t,e me!nin* *ien in !rti)#e -

s,!re,%#der me!ns ! /ers%n 0,% is t,e ,%#der %f ! s,!re

s,!res me!ns s,!res in t,e )%m/!n$

s/e)i!# res%#+ti%n ,!s t,e me!nin* *ien in se)ti%n 8( %f t,e C%m/!nies A)t

;;2

s+"sidi!r$ ,!s t,e me!nin* *ien in se)ti%n 11: %f t,e C%m/!nies A)t ;;2

tr!nsmittee me!ns ! /ers%n entit#ed t% ! s,!re "$ re!s%n %f t,e de!t, %r

"!n7r+/t)$ %f !

s,!re,%#der %r %t,er0ise "$ %/er!ti%n %f #!0 !nd

0ritin* me!ns t,e re/resent!ti%n %r re/r%d+)ti%n %f 0%rds@ s$m"%#s %r %t,er

inf%rm!ti%n in ! isi"#e f%rm "$ !n$ met,%d %r )%m"in!ti%n %f met,%ds@ 0,et,er

sent %r s+//#ied in e#e)tr%ni) f%rm %r %t,er0ise.

9n#ess t,e )%nte=t %t,er0ise re+ires@ %t,er 0%rds %r e=/ressi%ns )%nt!ined in t,ese

!rti)#es "e!r t,e s!me me!nin* !s in t,e C%m/!nies A)t ;;2 !s in f%r)e %n t,e d!te

0,en t,ese !rti)#es "e)%me "indin* %n t,e )%m/!n$.

Li!i"it# $f mem!ers

2. T,e #i!"i#it$ %f t,e mem"ers is #imited t% t,e !m%+nt@ if !n$@ +n/!id %n t,e

s,!res ,e#d "$ t,em.

PART

DIRECTORS

DIRECTORS& PO'ERS AND RESPONSIBILITIES

Dire%t$rs& 'ener" (t)$rit#

*. S+">e)t t% t,e !rti)#es@ t,e dire)t%rs !re res/%nsi"#e f%r t,e m!n!*ement %f t,e

)%m/!n$&s "+siness@ f%r 0,i), /+r/%se t,e$ m!$ e=er)ise !## t,e /%0ers %f t,e

)%m/!n$.

S)re)$"ders& reser+e ,$-er

.1G T,e s,!re,%#ders m!$@ "$ s/e)i!# res%#+ti%n@ dire)t t,e dire)t%rs t% t!7e@ %r

refr!in fr%m t!7in*@ s/e)ified !)ti%n.

G N% s+), s/e)i!# res%#+ti%n in!#id!tes !n$t,in* 0,i), t,e dire)t%rs ,!e d%ne

"ef%re t,e /!ssin* %f t,e res%#+ti%n.

Dire%t$rs m# de"e'te


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/.1G S+">e)t t% t,e !rti)#es@ t,e dire)t%rs m!$ de#e*!te !n$ %f t,e /%0ers 0,i), !re

)%nferred %n t,em +nder t,e !rti)#es

!G t% s+), /ers%n %r )%mmittee

"G "$ s+), me!ns in)#+din* "$ /%0er %f !tt%rne$G

)G t% s+), !n e=tent

dG in re#!ti%n t% s+), m!tters %r territ%ries !ndeG %n s+), terms !nd )%nditi%ns

!s t,e$ t,in7 fit.

G If t,e dire)t%rs s% s/e)if$@ !n$ s+), de#e*!ti%n m!$ !+t,%rise f+rt,er de#e*!ti%n %f

t,e

dire)t%rs& /%0ers "$ !n$ /ers%n t% 0,%m t,e$ !re de#e*!ted.

(G T,e dire)t%rs m!$ re%7e !n$ de#e*!ti%n in 0,%#e %r /!rt@ %r !#ter its terms !nd

)%nditi%ns.

C$mmittees

6.1G C%mmittees t% 0,i), t,e dire)t%rs de#e*!te !n$ %f t,eir /%0ers m+st f%##%0

/r%)ed+res 0,i), !re "!sed !s f!r !s t,e$ !re !//#i)!"#e %n t,%se /r%isi%ns %f t,e

!rti)#es 0,i), *%ern t,e t!7in* %f de)isi%ns "$ dire)t%rs.

G T,e dire)t%rs m!$ m!7e r+#es %f /r%)ed+re f%r !## %r !n$ )%mmittees@ 0,i),

/re!i# %er r+#es deried fr%m t,e !rti)#es if t,e$ !re n%t )%nsistent 0it, t,em.

DECISION3MA4IN5 BY DIRECTORS

Dire%t$rs t$ te de%isi$ns %$""e%ti+e"#

.1G T,e *ener!# r+#e !"%+t de)isi%n3m!7in* "$ dire)t%rs is t,!t !n$ de)isi%n %f t,edire)t%rs m+st "e eit,er ! m!>%rit$ de)isi%n !t ! meetin* %r ! de)isi%n t!7en in

!))%rd!n)e 0it, !rti)#e 8.

G If

!G t,e )%m/!n$ %n#$ ,!s %ne dire)t%r@ !nd

"G n% /r%isi%n %f t,e !rti)#es re+ires it t% ,!e m%re t,!n %ne dire)t%r@

t,e *ener!# r+#e d%es n%t !//#$@ !nd t,e dire)t%r m!$ t!7e de)isi%ns 0it,%+t re*!rd t%

!n$ %f t,e /r%isi%ns %f t,e !rti)#es re#!tin* t% dire)t%rs& de)isi%n3m!7in*.

Unnim$(s de%isi$ns

.1G A de)isi%n %f t,e dire)t%rs is t!7en in !))%rd!n)e 0it, t,is !rti)#e 0,en !##e#i*i"#e dire)t%rs indi)!te t% e!), %t,er "$ !n$ me!ns t,!t t,e$ s,!re ! )%mm%n ie0

%n ! m!tter.

G S+), ! de)isi%n m!$ t!7e t,e f%rm %f ! res%#+ti%n in 0ritin*@ )%/ies %f 0,i), ,!e

"een si*ned "$ e!), e#i*i"#e dire)t%r %r t% 0,i), e!), e#i*i"#e dire)t%r ,!s %t,er0ise

indi)!ted !*reement in 0ritin*.

(G Referen)es in t,is !rti)#e t% e#i*i"#e dire)t%rs !re t% dire)t%rs 0,% 0%+#d ,!e "een

entit#ed t% %te %n t,e m!tter ,!d it "een /r%/%sed !s ! res%#+ti%n !t ! dire)t%rs&

meetin*.

-G A de)isi%n m!$ n%t "e t!7en in !))%rd!n)e 0it, t,is !rti)#e if t,e e#i*i"#e dire)t%rs

0%+#d n%t ,!e f%rmed ! +%r+m !t s+), ! meetin*.


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C""in' dire%t$rs& meetin'

3.1G An$ dire)t%r m!$ )!## ! dire)t%rs& meetin* "$ *iin* n%ti)e %f t,e meetin* t%

t,e

dire)t%rs %r "$ !+t,%risin* t,e )%m/!n$ se)ret!r$ if !n$G t% *ie s+), n%ti)e.G N%ti)e %f !n$ dire)t%rs& meetin* m+st indi)!te

!G its /r%/%sed d!te !nd time

"G 0,ere it is t% t!7e /#!)e !nd

)G if it is !nti)i/!ted t,!t dire)t%rs /!rti)i/!tin* in t,e meetin* 0i## n%t "e in t,e

s!me /#!)e@ ,%0 it is /r%/%sed t,!t t,e$ s,%+#d )%mm+ni)!te 0it, e!), %t,er

d+rin* t,e meetin*.

(G N%ti)e %f ! dire)t%rs& meetin* m+st "e *ien t% e!), dire)t%r@ "+t need n%t "e in

0ritin*.

-G N%ti)e %f ! dire)t%rs& meetin* need n%t "e *ien t% dire)t%rs 0,% 0!ie t,eir

entit#ement t% n%ti)e %f t,!t meetin*@ "$ *iin* n%ti)e t% t,!t effe)t t% t,e )%m/!n$

n%t m%re t,!n 6 d!$s !fter t,e d!te %n 0,i), t,e meetin* is ,e#d. ',ere s+), n%ti)e is*ien !fter t,e meetin* ,!s "een ,e#d@ t,!t d%es n%t !ffe)t t,e !#idit$ %f t,e meetin*@

%r %f !n$ "+siness )%nd+)ted !t it.

Prti%i,ti$n in dire%t$rs& meetin's

10.1G S+">e)t t% t,e !rti)#es@ dire)t%rs /!rti)i/!te in ! dire)t%rs& meetin*@ %r /!rt %f

!

dire)t%rs& meetin*@ 0,en

!G t,e meetin* ,!s "een )!##ed !nd t!7es /#!)e in !))%rd!n)e 0it, t,e !rti)#es@

!nd

"G t,e$ )!n e!), )%mm+ni)!te t% t,e %t,ers !n$ inf%rm!ti%n %r %/ini%ns t,e$

,!e %n !n$ /!rti)+#!r item %f t,e "+siness %f t,e meetin*.

G In determinin* 0,et,er dire)t%rs !re /!rti)i/!tin* in ! dire)t%rs& meetin*@ it is

irre#e!nt 0,ere !n$ dire)t%r is %r ,%0 t,e$ )%mm+ni)!te 0it, e!), %t,er.

(G If !## t,e dire)t%rs /!rti)i/!tin* in ! meetin* !re n%t in t,e s!me /#!)e@ t,e$ m!$

de)ide t,!t t,e meetin* is t% "e tre!ted !s t!7in* /#!)e 0,ereer !n$ %f t,em is.

4($r(m f$r dire%t$rs& meetin's

11.1G At ! dire)t%rs& meetin*@ +n#ess ! +%r+m is /!rti)i/!tin*@ n% /r%/%s!# is t% "e

%ted %n@ e=)e/t ! /r%/%s!# t% )!## !n%t,er meetin*.G T,e +%r+m f%r dire)t%rs& meetin*s m!$ "e fi=ed fr%m time t% time "$ ! de)isi%n

%f t,e dire)t%rs@ "+t it m+st neer "e #ess t,!n t0%@ !nd +n#ess %t,er0ise fi=ed it is

t0%.

(G If t,e t%t!# n+m"er %f dire)t%rs f%r t,e time "ein* is #ess t,!n t,e +%r+m re+ired@

t,e

dire)t%rs m+st n%t t!7e !n$ de)isi%n %t,er t,!n ! de)isi%n

!G t% !//%int f+rt,er dire)t%rs@ %r

"G t% )!## ! *ener!# meetin* s% !s t% en!"#e t,e s,!re,%#ders t% !//%int f+rt,er

dire)t%rs.


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C)irin' $f dire%t$rs& meetin's

12.1G T,e dire)t%rs m!$ !//%int ! dire)t%r t% ),!ir t,eir meetin*s.

G T,e /ers%n s% !//%inted f%r t,e time "ein* is 7n%0n !s t,e ),!irm!n.

(G T,e dire)t%rs m!$ termin!te t,e ),!irm!n&s !//%intment !t !n$ time.

-G If t,e ),!irm!n is n%t /!rti)i/!tin* in ! dire)t%rs& meetin* 0it,in ten min+tes %ft,e time !t 0,i), it 0!s t% st!rt@ t,e /!rti)i/!tin* dire)t%rs m+st !//%int %ne %f

t,emse#es t% ),!ir it.

Cstin' +$te

1*.1G If t,e n+m"ers %f %tes f%r !nd !*!inst ! /r%/%s!# !re e+!#@ t,e ),!irm!n %r

%t,er dire)t%r ),!irin* t,e meetin* ,!s ! )!stin* %te.

G B+t t,is d%es n%t !//#$ if@ in !))%rd!n)e 0it, t,e !rti)#es@ t,e ),!irm!n %r %t,er

dire)t%r is n%t t% "e )%+nted !s /!rti)i/!tin* in t,e de)isi%n3m!7in* /r%)ess f%r

+%r+m %r %tin* /+r/%ses.

C$nf"i%ts $f interest

1.1G If ! /r%/%sed de)isi%n %f t,e dire)t%rs is )%n)erned 0it, !n !)t+!# %r

/r%/%sed

tr!ns!)ti%n %r !rr!n*ement 0it, t,e )%m/!n$ in 0,i), ! dire)t%r is interested@ t,!t

dire)t%r is n%t t% "e )%+nted !s /!rti)i/!tin* in t,e de)isi%n3m!7in* /r%)ess f%r

+%r+m %r %tin* /+r/%ses.

G B+t if /!r!*r!/, (G !//#ies@ ! dire)t%r 0,% is interested in !n !)t+!# %r /r%/%sed

tr!ns!)ti%n %r !rr!n*ement 0it, t,e )%m/!n$ is t% "e )%+nted !s /!rti)i/!tin* in t,e

de)isi%n3m!7in* /r%)ess f%r +%r+m !nd %tin* /+r/%ses.

(G T,is /!r!*r!/, !//#ies 0,en

!G t,e )%m/!n$ "$ %rdin!r$ res%#+ti%n dis!//#ies t,e /r%isi%n %f t,e !rti)#es

0,i), 0%+#d %t,er0ise /reent ! dire)t%r fr%m "ein* )%+nted !s /!rti)i/!tin* in

t,e de)isi%n3m!7in* /r%)ess

"G t,e dire)t%r&s interest )!nn%t re!s%n!"#$ "e re*!rded !s #i7e#$ t% *ie rise t%

! )%nf#i)t %f interest %r

)G t,e dire)t%r&s )%nf#i)t %f interest !rises fr%m ! /ermitted )!+se.

-G F%r t,e /+r/%ses %f t,is !rti)#e@ t,e f%##%0in* !re /ermitted )!+ses

!G ! *+!r!ntee *ien@ %r t% "e *ien@ "$ %r t% ! dire)t%r in res/e)t %f !n

%"#i*!ti%n in)+rred "$ %r %n "e,!#f %f t,e )%m/!n$ %r !n$ %f its s+"sidi!ries

"G s+"s)ri/ti%n@ %r !n !*reement t% s+"s)ri"e@ f%r s,!res %r %t,er se)+rities %ft,e )%m/!n$ %r !n$ %f its s+"sidi!ries@ %r t% +nder0rite@ s+"3+nder0rite@ %r

*+!r!ntee s+"s)ri/ti%n f%r !n$ s+), s,!res %r se)+rities !nd

)G !rr!n*ements /+rs+!nt t% 0,i), "enefits !re m!de !!i#!"#e t% em/#%$ees

!nd dire)t%rs %r f%rmer em/#%$ees !nd dire)t%rs %f t,e )%m/!n$ %r !n$ %f its

s+"sidi!ries 0,i), d% n%t /r%ide s/e)i!# "enefits f%r dire)t%rs %r f%rmer

dire)t%rs.

G F%r t,e /+r/%ses %f t,is !rti)#e@ referen)es t% /r%/%sed de)isi%ns !nd de)isi%n3

m!7in*

/r%)esses in)#+de !n$ dire)t%rs& meetin* %r /!rt %f ! dire)t%rs& meetin*.


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2G S+">e)t t% /!r!*r!/, 6G@ if ! +esti%n !rises !t ! meetin* %f dire)t%rs %r %f !

)%mmittee %f dire)t%rs !s t% t,e ri*,t %f ! dire)t%r t% /!rti)i/!te in t,e meetin* %r /!rt

%f t,e meetin*G f%r %tin* %r +%r+m /+r/%ses@ t,e +esti%n m!$@ "ef%re t,e

)%n)#+si%n %f t,e meetin*@ "e referred t% t,e ),!irm!n 0,%se r+#in* in re#!ti%n t% !n$

dire)t%r %t,er t,!n t,e ),!irm!n is t% "e fin!# !nd )%n)#+sie.

6G If !n$ +esti%n !s t% t,e ri*,t t% /!rti)i/!te in t,e meetin* %r /!rt %f t,e meetin*Gs,%+#d !rise in res/e)t %f t,e ),!irm!n@ t,e +esti%n is t% "e de)ided "$ ! de)isi%n %f

t,e dire)t%rs !t t,!t meetin*@ f%r 0,i), /+r/%se t,e ),!irm!n is n%t t% "e )%+nted !s

/!rti)i/!tin* in t,e meetin* %r t,!t /!rt %f t,e meetin*G f%r %tin* %r +%r+m

/+r/%ses.

Re%$rds $f de%isi$ns t$ !e e,t

1/. T,e dire)t%rs m+st ens+re t,!t t,e )%m/!n$ 7ee/s ! re)%rd@ in 0ritin*@ f%r !t #e!st

1; $e!rs fr%m t,e d!te %f t,e de)isi%n re)%rded@ %f eer$ +n!nim%+s %r m!>%rit$

de)isi%n t!7en "$ t,e dire)t%rs.

Dire%t$rs& dis%reti$n t$ me f(rt)er r("es

16. S+">e)t t% t,e !rti)#es@ t,e dire)t%rs m!$ m!7e !n$ r+#e 0,i), t,e$ t,in7 fit !"%+t

,%0 t,e$ t!7e de)isi%ns@ !nd !"%+t ,%0 s+), r+#es !re t% "e re)%rded %r

)%mm+ni)!ted t% dire)t%rs.

APPOINTMENT OF DIRECTORS

Met)$ds $f ,,$intin' dire%t$rs

1.1G An$ /ers%n 0,% is 0i##in* t% !)t !s ! dire)t%r@ !nd is /ermitted "$ #!0 t% d%

s%@ m!$ "e !//%inted t% "e ! dire)t%r

!G "$ %rdin!r$ res%#+ti%n@ %r

"G "$ ! de)isi%n %f t,e dire)t%rs.

G In !n$ )!se 0,ere@ !s ! res+#t %f de!t,@ t,e )%m/!n$ ,!s n% s,!re,%#ders !nd n%

dire)t%rs@ t,e /ers%n!# re/resent!ties %f t,e #!st s,!re,%#der t% ,!e died ,!e t,e

ri*,t@ "$ n%ti)e in 0ritin*@ t% !//%int ! /ers%n t% "e ! dire)t%r.

(G F%r t,e /+r/%ses %f /!r!*r!/, G@ 0,ere %r m%re s,!re,%#ders die in

)ir)+mst!n)es

renderin* it +n)ert!in 0,% 0!s t,e #!st t% die@ ! $%+n*er s,!re,%#der is deemed t%,!e s+ried !n %#der s,!re,%#der.

Terminti$n $f dire%t$r&s ,,$intment

1. A /ers%n )e!ses t% "e ! dire)t%r !s s%%n !s

!G t,!t /ers%n )e!ses t% "e ! dire)t%r "$ irt+e %f !n$ /r%isi%n %f t,e C%m/!nies

A)t ;;2 %r is /r%,i"ited fr%m "ein* ! dire)t%r "$ #!0

"G ! "!n7r+/t)$ %rder is m!de !*!inst t,!t /ers%n

)G ! )%m/%siti%n is m!de 0it, t,!t /ers%n&s )redit%rs *ener!##$ in s!tisf!)ti%n %f

t,!t


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/ers%n&s de"ts

dG ! re*istered medi)!# /r!)titi%ner 0,% is tre!tin* t,!t /ers%n *ies ! 0ritten

%/ini%n t% t,e )%m/!n$ st!tin* t,!t t,!t /ers%n ,!s "e)%me /,$si)!##$ %r

ment!##$ in)!/!"#e %f !)tin* !s ! dire)t%r !nd m!$ rem!in s% f%r m%re t,!n t,ree

m%nt,s

eG "$ re!s%n %f t,!t /ers%n&s ment!# ,e!#t,@ ! )%+rt m!7es !n %rder 0,i), 0,%##$%r /!rt#$ /reents t,!t /ers%n fr%m /ers%n!##$ e=er)isin* !n$ /%0ers %r ri*,ts

0,i), t,!t /ers%n 0%+#d %t,er0ise ,!e

fG n%tifi)!ti%n is re)eied "$ t,e )%m/!n$ fr%m t,e dire)t%r t,!t t,e dire)t%r is

resi*nin* fr%m %ffi)e@ !nd s+), resi*n!ti%n ,!s t!7en effe)t in !))%rd!n)e 0it, its

terms.

Dire%t$rs& rem(nerti$n

13.1G Dire)t%rs m!$ +ndert!7e !n$ seri)es f%r t,e )%m/!n$ t,!t t,e dire)t%rs

de)ide.G Dire)t%rs !re entit#ed t% s+), rem+ner!ti%n !s t,e dire)t%rs determine

!G f%r t,eir seri)es t% t,e )%m/!n$ !s dire)t%rs@ !nd

"G f%r !n$ %t,er seri)e 0,i), t,e$ +ndert!7e f%r t,e )%m/!n$.

(G S+">e)t t% t,e !rti)#es@ ! dire)t%r&s rem+ner!ti%n m!$

!G t!7e !n$ f%rm@ !nd

"G in)#+de !n$ !rr!n*ements in )%nne)ti%n 0it, t,e /!$ment %f ! /ensi%n@

!##%0!n)e %r *r!t+it$@ %r !n$ de!t,@ si)7ness %r dis!"i#it$ "enefits@ t% %r in res/e)t

%f t,!t dire)t%r.

-G 9n#ess t,e dire)t%rs de)ide %t,er0ise@ dire)t%rs& rem+ner!ti%n !))r+es fr%m d!$ t%

d!$.

G 9n#ess t,e dire)t%rs de)ide %t,er0ise@ dire)t%rs !re n%t !))%+nt!"#e t% t,e

)%m/!n$ f%r !n$ rem+ner!ti%n 0,i), t,e$ re)eie !s dire)t%rs %r %t,er %ffi)ers %r

em/#%$ees %f t,e )%m/!n$&s s+"sidi!ries %r %f !n$ %t,er "%d$ )%r/%r!te in 0,i), t,e

)%m/!n$ is interested.

Dire%t$rs& e5,enses

20. T,e )%m/!n$ m!$ /!$ !n$ re!s%n!"#e e=/enses 0,i), t,e dire)t%rs /r%/er#$ in)+r

in

)%nne)ti%n 0it, t,eir !ttend!n)e !t

!G meetin*s %f dire)t%rs %r )%mmittees %f dire)t%rs@"G *ener!# meetin*s@ %r

)G se/!r!te meetin*s %f t,e ,%#ders %f !n$ )#!ss %f s,!res %r %f de"ent+res %f t,e

)%m/!n$@ %r %t,er0ise in )%nne)ti%n 0it, t,e e=er)ise %f t,eir /%0ers !nd t,e

dis),!r*e %f t,eir res/%nsi"i#ities in re#!ti%n t% t,e )%m/!n$.

PART (

SHARES AND DISTRIB9TIONS

SHARES


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A"" s)res t$ !e f(""# ,id (,

21.1G N% s,!re is t% "e iss+ed f%r #ess t,!n t,e !**re*!te %f its n%min!# !#+e !nd

!n$/remi+m t% "e /!id t% t,e )%m/!n$ in )%nsider!ti%n f%r its iss+e.

G T,is d%es n%t !//#$ t% s,!res t!7en %n t,e f%rm!ti%n %f t,e )%m/!n$ "$ t,e

s+"s)ri"ers t% t,e )%m/!n$&s mem%r!nd+m.

P$-ers t$ iss(e different %"sses $f s)re

22.1G S+">e)t t% t,e !rti)#es@ "+t 0it,%+t /re>+di)e t% t,e ri*,ts !tt!),ed t% !n$

e=istin* s,!re@ t,e )%m/!n$ m!$ iss+e s,!res 0it, s+), ri*,ts %r restri)ti%ns !s m!$

"e determined "$ %rdin!r$ res%#+ti%n.

G T,e )%m/!n$ m!$ iss+e s,!res 0,i), !re t% "e redeemed@ %r !re #i!"#e t% "e

redeemed !t t,e %/ti%n %f t,e )%m/!n$ %r t,e ,%#der@ !nd t,e dire)t%rs m!$ determinet,e terms@ )%nditi%ns !nd m!nner %f redem/ti%n %f !n$ s+), s,!res.

C$m,n# n$t !$(nd !# "ess t)n !s$"(te interests

2*. E=)e/t !s re+ired "$ #!0@ n% /ers%n is t% "e re)%*nised "$ t,e )%m/!n$ !s

,%#din* !n$ s,!re +/%n !n$ tr+st@ !nd e=)e/t !s %t,er0ise re+ired "$ #!0 %r t,e

!rti)#es@ t,e )%m/!n$ is n%t in !n$ 0!$ t% "e "%+nd "$ %r re)%*nise !n$ interest in !

s,!re %t,er t,!n t,e ,%#der&s !"s%#+te %0ners,i/ %f it !nd !## t,e ri*,ts !tt!),in* t% it.

S)re %ertifi%tes

2.1G T,e )%m/!n$ m+st iss+e e!), s,!re,%#der@ free %f ),!r*e@ 0it, %ne %r m%re

)ertifi)!tes in res/e)t %f t,e s,!res 0,i), t,!t s,!re,%#der ,%#ds.

G Eer$ )ertifi)!te m+st s/e)if$

!G in res/e)t %f ,%0 m!n$ s,!res@ %f 0,!t )#!ss@ it is iss+ed

"G t,e n%min!# !#+e %f t,%se s,!res

)G t,!t t,e s,!res !re f+##$ /!id !nd

dG !n$ distin*+is,in* n+m"ers !ssi*ned t% t,em.

(G N% )ertifi)!te m!$ "e iss+ed in res/e)t %f s,!res %f m%re t,!n %ne )#!ss.

-G If m%re t,!n %ne /ers%n ,%#ds ! s,!re@ %n#$ %ne )ertifi)!te m!$ "e iss+ed in

res/e)t %f it.G Certifi)!tes m+st

!G ,!e !ffi=ed t% t,em t,e )%m/!n$&s )%mm%n se!#@ %r

"G "e %t,er0ise e=e)+ted in !))%rd!n)e 0it, t,e C%m/!nies A)ts.

Re,"%ement s)re %ertifi%tes

2/.1G If ! )ertifi)!te iss+ed in res/e)t %f ! s,!re,%#der&s s,!res is

!G d!m!*ed %r def!)ed@ %r

"G s!id t% "e #%st@ st%#en %r destr%$ed@ t,!t s,!re,%#der is entit#ed t% "e iss+ed

0it, ! re/#!)ement )ertifi)!te in res/e)t %f t,e s!me s,!res.


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G A s,!re,%#der e=er)isin* t,e ri*,t t% "e iss+ed 0it, s+), ! re/#!)ement )ertifi)!te

!G m!$ !t t,e s!me time e=er)ise t,e ri*,t t% "e iss+ed 0it, ! sin*#e )ertifi)!te %r

se/!r!te )ertifi)!tes

"G m+st ret+rn t,e )ertifi)!te 0,i), is t% "e re/#!)ed t% t,e )%m/!n$ if it isd!m!*ed %r def!)ed !nd

)G m+st )%m/#$ 0it, s+), )%nditi%ns !s t% eiden)e@ indemnit$ !nd t,e /!$ment

%f !

re!s%n!"#e fee !s t,e dire)t%rs de)ide.

S)re trnsfers

26.1G S,!res m!$ "e tr!nsferred "$ me!ns %f !n instr+ment %f tr!nsfer in !n$ +s+!#

f%rm %r !n$ %t,er f%rm !//r%ed "$ t,e dire)t%rs@ 0,i), is e=e)+ted "$ %r %n "e,!#f

%f t,e tr!nsfer%r.

G N% fee m!$ "e ),!r*ed f%r re*isterin* !n$ instr+ment %f tr!nsfer %r %t,erd%)+ment re#!tin* t% %r !ffe)tin* t,e tit#e t% !n$ s,!re.

(G T,e )%m/!n$ m!$ ret!in !n$ instr+ment %f tr!nsfer 0,i), is re*istered.

-G T,e tr!nsfer%r rem!ins t,e ,%#der %f ! s,!re +nti# t,e tr!nsferee&s n!me is entered

in t,e re*ister %f mem"ers !s ,%#der %f it.

G T,e dire)t%rs m!$ ref+se t% re*ister t,e tr!nsfer %f ! s,!re@ !nd if t,e$ d% s%@ t,e

instr+ment %f tr!nsfer m+st "e ret+rned t% t,e tr!nsferee 0it, t,e n%ti)e %f ref+s!#

+n#ess t,e$ s+s/e)t t,!t t,e /r%/%sed tr!nsfer m!$ "e fr!+d+#ent.

Trnsmissi$n $f s)res

2.1G If tit#e t% ! s,!re /!sses t% ! tr!nsmittee@ t,e )%m/!n$ m!$ %n#$ re)%*nise

t,e

tr!nsmittee !s ,!in* !n$ tit#e t% t,!t s,!re.

G A tr!nsmittee 0,% /r%d+)es s+), eiden)e %f entit#ement t% s,!res !s t,e dire)t%rs

m!$ /r%/er#$ re+ire

!G m!$@ s+">e)t t% t,e !rti)#es@ ),%%se eit,er t% "e)%me t,e ,%#der %f t,%se s,!res

%r t% ,!e t,em tr!nsferred t% !n%t,er /ers%n@ !nd

"G s+">e)t t% t,e !rti)#es@ !nd /endin* !n$ tr!nsfer %f t,e s,!res t% !n%t,er

/ers%n@ ,!s t,e s!me ri*,ts !s t,e ,%#der ,!d.

(G B+t tr!nsmittees d% n%t ,!e t,e ri*,t t% !ttend %r %te !t ! *ener!# meetin*@ %r

!*ree t% ! /r%/%sed 0ritten res%#+ti%n@ in res/e)t %f s,!res t% 0,i), t,e$ !re entit#ed@"$ re!s%n %f t,e ,%#der&s de!t, %r "!n7r+/t)$ %r %t,er0ise@ +n#ess t,e$ "e)%me t,e

,%#ders %f t,%se s,!res.

E5er%ise $f trnsmittees& ri')ts

2.1G Tr!nsmittees 0,% 0is, t% "e)%me t,e ,%#ders %f s,!res t% 0,i), t,e$ ,!e

"e)%me entit#ed m+st n%tif$ t,e )%m/!n$ in 0ritin* %f t,!t 0is,.

G If t,e tr!nsmittee 0is,es t% ,!e ! s,!re tr!nsferred t% !n%t,er /ers%n@ t,e

tr!nsmittee m+st e=e)+te !n instr+ment %f tr!nsfer in res/e)t %f it.


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(G An$ tr!nsfer m!de %r e=e)+ted +nder t,is !rti)#e is t% "e tre!ted !s if it 0ere m!de

%r

e=e)+ted "$ t,e /ers%n fr%m 0,%m t,e tr!nsmittee ,!s deried ri*,ts in res/e)t %f t,e

s,!re@ !nd !s if t,e eent 0,i), *!e rise t% t,e tr!nsmissi%n ,!d n%t %))+rred.

Trnsmittees !$(nd !# ,ri$r n$ti%es

23. If ! n%ti)e is *ien t% ! s,!re,%#der in res/e)t %f s,!res !nd ! tr!nsmittee is

entit#ed t% t,%se s,!res@ t,e tr!nsmittee is "%+nd "$ t,e n%ti)e if it 0!s *ien t% t,e

s,!re,%#der "ef%re t,e tr!nsmittee&s n!me ,!s "een entered in t,e re*ister %f

mem"ers.

DIVIDENDS AND OTHER DISTRIB9TIONS

Pr$%ed(re f$r de%"rin' di+idends

*0.1G T,e )%m/!n$ m!$ "$ %rdin!r$ res%#+ti%n de)#!re diidends@ !nd t,edire)t%rs m!$ de)ide t% /!$ interim diidends.

G A diidend m+st n%t "e de)#!red +n#ess t,e dire)t%rs ,!e m!de !

re)%mmend!ti%n !s t% its !m%+nt. S+), ! diidend m+st n%t e=)eed t,e !m%+nt

re)%mmended "$ t,e dire)t%rs.

(G N% diidend m!$ "e de)#!red %r /!id +n#ess it is in !))%rd!n)e 0it, s,!re,%#ders&

res/e)tie ri*,ts.

-G 9n#ess t,e s,!re,%#ders& res%#+ti%n t% de)#!re %r dire)t%rs& de)isi%n t% /!$ !

diidend@ %r t,e terms %n 0,i), s,!res !re iss+ed@ s/e)if$ %t,er0ise@ it m+st "e /!id

"$ referen)e t% e!), s,!re,%#der&s ,%#din* %f s,!res %n t,e d!te %f t,e res%#+ti%n %r

de)isi%n t% de)#!re %r /!$ it.

G If t,e )%m/!n$&s s,!re )!/it!# is diided int% different )#!sses@ n% interim diidend

m!$ "e /!id %n s,!res )!rr$in* deferred %r n%n3/referred ri*,ts if@ !t t,e time %f

/!$ment@ !n$ /referenti!# diidend is in !rre!r.

2G T,e dire)t%rs m!$ /!$ !t inter!#s !n$ diidend /!$!"#e !t ! fi=ed r!te if it !//e!rs

t% t,em t,!t t,e /r%fits !!i#!"#e f%r distri"+ti%n >+stif$ t,e /!$ment.

6G If t,e dire)t%rs !)t in *%%d f!it,@ t,e$ d% n%t in)+r !n$ #i!"i#it$ t% t,e ,%#ders %f

s,!res

)%nferrin* /referred ri*,ts f%r !n$ #%ss t,e$ m!$ s+ffer "$ t,e #!0f+# /!$ment %f !n

interim diidend %n s,!res 0it, deferred %r n%n3/referred ri*,ts.

P#ment $f di+idends nd $t)er distri!(ti$ns

*1.1G ',ere ! diidend %r %t,er s+m 0,i), is ! distri"+ti%n is /!$!"#e in res/e)t

%f ! s,!re@ it m+st "e /!id "$ %ne %r m%re %f t,e f%##%0in* me!ns

!G tr!nsfer t% ! "!n7 %r "+i#din* s%)iet$ !))%+nt s/e)ified "$ t,e distri"+ti%n

re)i/ient eit,er in 0ritin* %r !s t,e dire)t%rs m!$ %t,er0ise de)ide

"G sendin* ! ),e+e m!de /!$!"#e t% t,e distri"+ti%n re)i/ient "$ /%st t% t,e

distri"+ti%n re)i/ient !t t,e distri"+ti%n re)i/ient&s re*istered !ddress if t,e

distri"+ti%n re)i/ient is ! ,%#der %f t,e s,!reG@ %r in !n$ %t,er )!seG t% !n !ddress

s/e)ified "$ t,e distri"+ti%n re)i/ient eit,er in 0ritin* %r !s t,e dire)t%rs m!$

%t,er0ise de)ide


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)G sendin* ! ),e+e m!de /!$!"#e t% s+), /ers%n "$ /%st t% s+), /ers%n !t s+),

!ddress !s t,e distri"+ti%n re)i/ient ,!s s/e)ified eit,er in 0ritin* %r !s t,e

dire)t%rs m!$ %t,er0ise de)ide %r

dG !n$ %t,er me!ns %f /!$ment !s t,e dire)t%rs !*ree 0it, t,e distri"+ti%n

re)i/ient eit,er in 0ritin* %r "$ s+), %t,er me!ns !s t,e dire)t%rs de)ide.

G In t,e !rti)#es@ t,e distri"+ti%n re)i/ient me!ns@ in res/e)t %f ! s,!re in res/e)t %f0,i), ! diidend %r %t,er s+m is /!$!"#e

!G t,e ,%#der %f t,e s,!re %r

"G if t,e s,!re ,!s t0% %r m%re >%int ,%#ders@ 0,i),eer %f t,em is n!med first in

t,e re*ister %f mem"ers %r

)G if t,e ,%#der is n% #%n*er entit#ed t% t,e s,!re "$ re!s%n %f de!t, %r

"!n7r+/t)$@ %r

%t,er0ise "$ %/er!ti%n %f #!0@ t,e tr!nsmittee.

N$ interest $n distri!(ti$ns

*2. T,e )%m/!n$ m!$ n%t /!$ interest %n !n$ diidend %r %t,er s+m /!$!"#e inres/e)t %f ! s,!re +n#ess %t,er0ise /r%ided "$

!G t,e terms %n 0,i), t,e s,!re 0!s iss+ed@ %r

"G t,e /r%isi%ns %f !n%t,er !*reement "et0een t,e ,%#der %f t,!t s,!re !nd t,e

)%m/!n$.

Un%"imed distri!(ti$ns

**.1G A## diidends %r %t,er s+ms 0,i), !re

!G /!$!"#e in res/e)t %f s,!res@ !nd

"G +n)#!imed !fter ,!in* "een de)#!red %r "e)%me /!$!"#e@

m!$ "e inested %r %t,er0ise m!de +se %f "$ t,e dire)t%rs f%r t,e "enefit %f t,e

)%m/!n$ +nti# )#!imed.

G T,e /!$ment %f !n$ s+), diidend %r %t,er s+m int% ! se/!r!te !))%+nt d%es n%t

m!7e t,e )%m/!n$ ! tr+stee in res/e)t %f it.

(G If

!G t0e#e $e!rs ,!e /!ssed fr%m t,e d!te %n 0,i), ! diidend %r %t,er s+m

"e)!me d+e f%r /!$ment@ !nd

"G t,e distri"+ti%n re)i/ient ,!s n%t )#!imed it@

t,e distri"+ti%n re)i/ient is n% #%n*er entit#ed t% t,!t diidend %r %t,er s+m !nd it

)e!ses t% rem!in %0in* "$ t,e )%m/!n$.

N$n%s) distri!(ti$ns

*.1G S+">e)t t% t,e terms %f iss+e %f t,e s,!re in +esti%n@ t,e )%m/!n$ m!$@ "$

%rdin!r$ res%#+ti%n %n t,e re)%mmend!ti%n %f t,e dire)t%rs@ de)ide t% /!$ !## %r /!rt

%f ! diidend %r %t,er distri"+ti%n /!$!"#e in res/e)t %f ! s,!re "$ tr!nsferrin* n%n3

)!s, !ssets %f e+i!#ent !#+e in)#+din*@ 0it,%+t #imit!ti%n@ s,!res %r %t,er

se)+rities in !n$ )%m/!n$G.

G F%r t,e /+r/%ses %f /!$in* ! n%n3)!s, distri"+ti%n@ t,e dire)t%rs m!$ m!7e

0,!teer


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!rr!n*ements t,e$ t,in7 fit@ in)#+din*@ 0,ere !n$ diffi)+#t$ !rises re*!rdin* t,e

distri"+ti%n

!G fi=in* t,e !#+e %f !n$ !ssets

"G /!$in* )!s, t% !n$ distri"+ti%n re)i/ient %n t,e "!sis %f t,!t !#+e in %rder t%

!d>+st t,e ri*,ts %f re)i/ients !nd

)G estin* !n$ !ssets in tr+stees.7i+er $f distri!(ti$ns

*/. Distri"+ti%n re)i/ients m!$ 0!ie t,eir entit#ement t% ! diidend %r %t,er

distri"+ti%n

/!$!"#e in res/e)t %f ! s,!re "$ *iin* t,e )%m/!n$ n%ti)e in 0ritin* t% t,!t effe)t@

"+t if

!G t,e s,!re ,!s m%re t,!n %ne ,%#der@ %r

"G m%re t,!n %ne /ers%n is entit#ed t% t,e s,!re@ 0,et,er "$ re!s%n %f t,e de!t,

%r

"!n7r+/t)$ %f %ne %r m%re >%int ,%#ders@ %r %t,er0ise@

t,e n%ti)e is n%t effe)tie +n#ess it is e=/ressed t% "e *ien@ !nd si*ned@ "$ !## t,e,%#ders %r /ers%ns %t,er0ise entit#ed t% t,e s,!re.

CAPITALISATION OF PROFITS

A(t)$rit# t$ %,it"ise nd ,,r$,riti$n $f %,it"ised s(ms

*6.1G S+">e)t t% t,e !rti)#es@ t,e dire)t%rs m!$@ if t,e$ !re s% !+t,%rised "$ !n

%rdin!r$

res%#+ti%n

!G de)ide t% )!/it!#ise !n$ /r%fits %f t,e )%m/!n$ 0,et,er %r n%t t,e$ !re

!!i#!"#e f%r distri"+ti%nG 0,i), !re n%t re+ired f%r /!$in* ! /referenti!#

diidend@ %r !n$ s+m st!ndin* t% t,e )redit %f t,e )%m/!n$&s s,!re /remi+m

!))%+nt %r )!/it!# redem/ti%n resere !nd

"G !//r%/ri!te !n$ s+m 0,i), t,e$ s% de)ide t% )!/it!#ise ! )!/it!#ised s+mG

t% t,e /ers%ns 0,% 0%+#d ,!e "een entit#ed t% it if it 0ere distri"+ted "$ 0!$ %f

diidend t,e /ers%ns entit#edG !nd in t,e s!me /r%/%rti%ns.

G C!/it!#ised s+ms m+st "e !//#ied

!G %n "e,!#f %f t,e /ers%ns entit#ed@ !nd

"G in t,e s!me /r%/%rti%ns !s ! diidend 0%+#d ,!e "een distri"+ted t% t,em.(G An$ )!/it!#ised s+m m!$ "e !//#ied in /!$in* +/ ne0 s,!res %f ! n%min!# !m%+nt

e+!# t% t,e )!/it!#ised s+m 0,i), !re t,en !##%tted )redited !s f+##$ /!id t% t,e

/ers%ns entit#ed %r !s t,e$ m!$ dire)t.

-G A )!/it!#ised s+m 0,i), 0!s !//r%/ri!ted fr%m /r%fits !!i#!"#e f%r distri"+ti%n

m!$ "e !//#ied in /!$in* +/ ne0 de"ent+res %f t,e )%m/!n$ 0,i), !re t,en !##%tted

)redited !s f+##$ /!id t% t,e /ers%ns entit#ed %r !s t,e$ m!$ dire)t.

G S+">e)t t% t,e !rti)#es t,e dire)t%rs m!$

!G !//#$ )!/it!#ised s+ms in !))%rd!n)e 0it, /!r!*r!/,s (G !nd -G /!rt#$ in %ne

0!$ !nd /!rt#$ in !n%t,er


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"G m!7e s+), !rr!n*ements !s t,e$ t,in7 fit t% de!# 0it, s,!res %r de"ent+res

"e)%min* distri"+t!"#e in fr!)ti%ns +nder t,is !rti)#e in)#+din* t,e iss+in* %f

fr!)ti%n!# )ertifi)!tes %r t,e m!7in* %f )!s, /!$mentsG !nd

)G !+t,%rise !n$ /ers%n t% enter int% !n !*reement 0it, t,e )%m/!n$ %n "e,!#f %f

!## t,e /ers%ns entit#ed 0,i), is "indin* %n t,em in res/e)t %f t,e !##%tment %f

s,!res !nd de"ent+res t% t,em +nder t,is !rti)#e.

PART -

DECISION3MA4IN5 BY SHAREHOLDERS

OR5ANISATION OF 5ENERAL MEETIN5S

Attendn%e nd s,ein' t 'ener" meetin's

*.1G A /ers%n is !"#e t% e=er)ise t,e ri*,t t% s/e!7 !t ! *ener!# meetin* 0,en t,!t

/ers%n is in ! /%siti%n t% )%mm+ni)!te t% !## t,%se !ttendin* t,e meetin*@ d+rin* t,e

meetin*@ !n$ inf%rm!ti%n %r %/ini%ns 0,i), t,!t /ers%n ,!s %n t,e "+siness %f t,e

meetin*.

G A /ers%n is !"#e t% e=er)ise t,e ri*,t t% %te !t ! *ener!# meetin* 0,en

!G t,!t /ers%n is !"#e t% %te@ d+rin* t,e meetin*@ %n res%#+ti%ns /+t t% t,e %te

!t t,e meetin*@ !nd

"G t,!t /ers%n&s %te )!n "e t!7en int% !))%+nt in determinin* 0,et,er %r n%t

s+),

res%#+ti%ns !re /!ssed !t t,e s!me time !s t,e %tes %f !## t,e %t,er /ers%ns

!ttendin* t,e meetin*.(G T,e dire)t%rs m!$ m!7e 0,!teer !rr!n*ements t,e$ )%nsider !//r%/ri!te t%

en!"#e t,%se !ttendin* ! *ener!# meetin* t% e=er)ise t,eir ri*,ts t% s/e!7 %r %te !t it.

-G In determinin* !ttend!n)e !t ! *ener!# meetin*@ it is imm!teri!# 0,et,er !n$ t0%

%r m%re mem"ers !ttendin* it !re in t,e s!me /#!)e !s e!), %t,er.

G T0% %r m%re /ers%ns 0,% !re n%t in t,e s!me /#!)e !s e!), %t,er !ttend ! *ener!#

meetin* if t,eir )ir)+mst!n)es !re s+), t,!t if t,e$ ,!e %r 0ere t% ,!eG ri*,ts t%

s/e!7 !nd %te !t t,!t meetin*@ t,e$ !re %r 0%+#d "eG !"#e t% e=er)ise t,em.

4($r(m f$r 'ener" meetin's

*.N% "+siness %t,er t,!n t,e !//%intment %f t,e ),!irm!n %f t,e meetin* is t% "etr!ns!)ted !t ! *ener!# meetin* if t,e /ers%ns !ttendin* it d% n%t )%nstit+te ! +%r+m.

C)irin' 'ener" meetin's

*3.1G If t,e dire)t%rs ,!e !//%inted ! ),!irm!n@ t,e ),!irm!n s,!## ),!ir *ener!#

meetin*s if /resent !nd 0i##in* t% d% s%.

G If t,e dire)t%rs ,!e n%t !//%inted ! ),!irm!n@ %r if t,e ),!irm!n is +n0i##in* t%

),!ir t,e meetin* %r is n%t /resent 0it,in ten min+tes %f t,e time !t 0,i), ! meetin*

0!s d+e t% st!rt

!G t,e dire)t%rs /resent@ %r


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"G if n% dire)t%rs !re /resentG@ t,e meetin*@

m+st !//%int ! dire)t%r %r s,!re,%#der t% ),!ir t,e meetin*@ !nd t,e !//%intment %f

t,e ),!irm!n %f t,e meetin* m+st "e t,e first "+siness %f t,e meetin*.

(G T,e /ers%n ),!irin* ! meetin* in !))%rd!n)e 0it, t,is !rti)#e is referred t% !s t,e

),!irm!n %f t,e meetin*.

Attendn%e nd s,ein' !# dire%t$rs nd n$ns)re)$"ders

0.1G Dire)t%rs m!$ !ttend !nd s/e!7 !t *ener!# meetin*s@ 0,et,er %r n%t t,e$ !re

s,!re,%#ders.

G T,e ),!irm!n %f t,e meetin* m!$ /ermit %t,er /ers%ns 0,% !re n%t

!G s,!re,%#ders %f t,e )%m/!n$@ %r

"G %t,er0ise entit#ed t% e=er)ise t,e ri*,ts %f s,!re,%#ders in re#!ti%n t% *ener!#

meetin*s@

t% !ttend !nd s/e!7 !t ! *ener!# meetin*.

Ad8$(rnment

1.1G If t,e /ers%ns !ttendin* ! *ener!# meetin* 0it,in ,!#f !n ,%+r %f t,e time !t

0,i), t,e meetin* 0!s d+e t% st!rt d% n%t )%nstit+te ! +%r+m@ %r if d+rin* ! meetin*

! +%r+m )e!ses t% "e /resent@ t,e ),!irm!n %f t,e meetin* m+st !d>%+rn it.

G T,e ),!irm!n %f t,e meetin* m!$ !d>%+rn ! *ener!# meetin* !t 0,i), ! +%r+m is

/resent if

!G t,e meetin* )%nsents t% !n !d>%+rnment@ %r

"G it !//e!rs t% t,e ),!irm!n %f t,e meetin* t,!t !n !d>%+rnment is ne)ess!r$ t%

/r%te)t t,e s!fet$ %f !n$ /ers%n !ttendin* t,e meetin* %r ens+re t,!t t,e "+siness

%f t,e meetin* is )%nd+)ted in !n %rder#$ m!nner.

(G T,e ),!irm!n %f t,e meetin* m+st !d>%+rn ! *ener!# meetin* if dire)ted t% d% s%

"$ t,e meetin*.

-G ',en !d>%+rnin* ! *ener!# meetin*@ t,e ),!irm!n %f t,e meetin* m+st

!G eit,er s/e)if$ t,e time !nd /#!)e t% 0,i), it is !d>%+rned %r st!te t,!t it is t%

)%ntin+e !t ! time !nd /#!)e t% "e fi=ed "$ t,e dire)t%rs@ !nd

"G ,!e re*!rd t% !n$ dire)ti%ns !s t% t,e time !nd /#!)e %f !n$ !d>%+rnment

0,i), ,!e "een *ien "$ t,e meetin*.

G If t,e )%ntin+!ti%n %f !n !d>%+rned meetin* is t% t!7e /#!)e m%re t,!n 1- d!$s

!fter it 0!s !d>%+rned@ t,e )%m/!n$ m+st *ie !t #e!st 6 )#e!r d!$s& n%ti)e %f it t,!t

is@ e=)#+din* t,e d!$ %f t,e !d>%+rned meetin* !nd t,e d!$ %n 0,i), t,e n%ti)e is*ienG

!G t% t,e s!me /ers%ns t% 0,%m n%ti)e %f t,e )%m/!n$&s *ener!# meetin*s is

re+ired t% "e *ien@ !nd

"G )%nt!inin* t,e s!me inf%rm!ti%n 0,i), s+), n%ti)e is re+ired t% )%nt!in.

2G N% "+siness m!$ "e tr!ns!)ted !t !n !d>%+rned *ener!# meetin* 0,i), )%+#d n%t

/r%/er#$ ,!e "een tr!ns!)ted !t t,e meetin* if t,e !d>%+rnment ,!d n%t t!7en /#!)e.

VOTIN5 AT 5ENERAL MEETIN5S


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V$tin'9 'ener"

2. A res%#+ti%n /+t t% t,e %te %f ! *ener!# meetin* m+st "e de)ided %n ! s,%0 %f

,!nds +n#ess ! /%## is d+#$ dem!nded in !))%rd!n)e 0it, t,e !rti)#es.

Err$rs nd dis,(tes

*.1G N% %">e)ti%n m!$ "e r!ised t% t,e +!#ifi)!ti%n %f !n$ /ers%n %tin* !t !

*ener!#

meetin* e=)e/t !t t,e meetin* %r !d>%+rned meetin* !t 0,i), t,e %te %">e)ted t% is

tendered@ !nd eer$ %te n%t dis!##%0ed !t t,e meetin* is !#id.

G An$ s+), %">e)ti%n m+st "e referred t% t,e ),!irm!n %f t,e meetin*@ 0,%se

de)isi%n is fin!#.

P$"" +$tes

.1G A /%## %n ! res%#+ti%n m!$ "e dem!nded

!G in !d!n)e %f t,e *ener!# meetin* 0,ere it is t% "e /+t t% t,e %te@ %r

"G !t ! *ener!# meetin*@ eit,er "ef%re ! s,%0 %f ,!nds %n t,!t res%#+ti%n %r

immedi!te#$ !fter t,e res+#t %f ! s,%0 %f ,!nds %n t,!t res%#+ti%n is de)#!red.

G A /%## m!$ "e dem!nded "$

!G t,e ),!irm!n %f t,e meetin*

"G t,e dire)t%rs

)G t0% %r m%re /ers%ns ,!in* t,e ri*,t t% %te %n t,e res%#+ti%n %r

dG ! /ers%n %r /ers%ns re/resentin* n%t #ess t,!n %ne tent, %f t,e t%t!# %tin*

ri*,ts %f !## t,e s,!re,%#ders ,!in* t,e ri*,t t% %te %n t,e res%#+ti%n.

(G A dem!nd f%r ! /%## m!$ "e 0it,dr!0n if

!G t,e /%## ,!s n%t $et "een t!7en@ !nd

"G t,e ),!irm!n %f t,e meetin* )%nsents t% t,e 0it,dr!0!#.

-G P%##s m+st "e t!7en immedi!te#$ !nd in s+), m!nner !s t,e ),!irm!n %f t,e

meetin* dire)ts.

C$ntent $f ,r$5# n$ti%es

/.1G Pr%=ies m!$ %n#$ !#id#$ "e !//%inted "$ ! n%ti)e in 0ritin* ! /r%=$

n%ti)eG0,i),

!G st!tes t,e n!me !nd !ddress %f t,e s,!re,%#der !//%intin* t,e /r%=$

"G identifies t,e /ers%n !//%inted t% "e t,!t s,!re,%#der&s /r%=$ !nd t,e *ener!#

meetin* in re#!ti%n t% 0,i), t,!t /ers%n is !//%inted

)G is si*ned "$ %r %n "e,!#f %f t,e s,!re,%#der !//%intin* t,e /r%=$@ %r is

!+t,enti)!ted in s+), m!nner !s t,e dire)t%rs m!$ determine !nd

dG is de#iered t% t,e )%m/!n$ in !))%rd!n)e 0it, t,e !rti)#es !nd !n$

instr+)ti%ns )%nt!ined in t,e n%ti)e %f t,e *ener!# meetin* t% 0,i), t,e$ re#!te.

G T,e )%m/!n$ m!$ re+ire /r%=$ n%ti)es t% "e de#iered in ! /!rti)+#!r f%rm@ !nd

m!$


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s/e)if$ different f%rms f%r different /+r/%ses.

(G Pr%=$ n%ti)es m!$ s/e)if$ ,%0 t,e /r%=$ !//%inted +nder t,em is t% %te %r t,!t

t,e /r%=$ is t% !"st!in fr%m %tin*G %n %ne %r m%re res%#+ti%ns.

-G 9n#ess ! /r%=$ n%ti)e indi)!tes %t,er0ise@ it m+st "e tre!ted !s

!G !##%0in* t,e /ers%n !//%inted +nder it !s ! /r%=$ dis)reti%n !s t% ,%0 t% %te

%n !n$ !n)i##!r$ %r /r%)ed+r!# res%#+ti%ns /+t t% t,e meetin*@ !nd"G !//%intin* t,!t /ers%n !s ! /r%=$ in re#!ti%n t% !n$ !d>%+rnment %f t,e *ener!#

meetin* t% 0,i), it re#!tes !s 0e## !s t,e meetin* itse#f.

De"i+er# $f ,r$5# n$ti%es

6.1G A /ers%n 0,% is entit#ed t% !ttend@ s/e!7 %r %te eit,er %n ! s,%0 %f ,!nds

%r %n ! /%##G !t ! *ener!# meetin* rem!ins s% entit#ed in res/e)t %f t,!t meetin* %r !n$

!d>%+rnment %f it@ een t,%+*, ! !#id /r%=$ n%ti)e ,!s "een de#iered t% t,e

)%m/!n$ "$ %r %n "e,!#f %f t,!t /ers%n.

G An !//%intment +nder ! /r%=$ n%ti)e m!$ "e re%7ed "$ de#ierin* t% t,e

)%m/!n$ ! n%ti)e in 0ritin* *ien "$ %r %n "e,!#f %f t,e /ers%n "$ 0,%m %r %n0,%se "e,!#f t,e /r%=$ n%ti)e 0!s *ien.

(G A n%ti)e re%7in* ! /r%=$ !//%intment %n#$ t!7es effe)t if it is de#iered "ef%re

t,e st!rt %f t,e meetin* %r !d>%+rned meetin* t% 0,i), it re#!tes.

-G If ! /r%=$ n%ti)e is n%t e=e)+ted "$ t,e /ers%n !//%intin* t,e /r%=$@ it m+st "e

!))%m/!nied "$ 0ritten eiden)e %f t,e !+t,%rit$ %f t,e /ers%n 0,% e=e)+ted it t%

e=e)+te it %n t,e !//%int%r&s "e,!#f.

Amendments t$ res$"(ti$ns

.1G An %rdin!r$ res%#+ti%n t% "e /r%/%sed !t ! *ener!# meetin* m!$ "e !mended

"$ %rdin!r$ res%#+ti%n if

!G n%ti)e %f t,e /r%/%sed !mendment is *ien t% t,e )%m/!n$ in 0ritin* "$ !

/ers%n entit#ed t% %te !t t,e *ener!# meetin* !t 0,i), it is t% "e /r%/%sed n%t #ess

t,!n -8 ,%+rs "ef%re t,e meetin* is t% t!7e /#!)e %r s+), #!ter time !s t,e

),!irm!n %f t,e meetin* m!$ determineG@ !nd

"G t,e /r%/%sed !mendment d%es n%t@ in t,e re!s%n!"#e %/ini%n %f t,e ),!irm!n

%f t,e meetin*@ m!teri!##$ !#ter t,e s)%/e %f t,e res%#+ti%n.

G A s/e)i!# res%#+ti%n t% "e /r%/%sed !t ! *ener!# meetin* m!$ "e !mended "$

%rdin!r$ res%#+ti%n@ if

!G t,e ),!irm!n %f t,e meetin* /r%/%ses t,e !mendment !t t,e *ener!# meetin*

!t 0,i), t,e res%#+ti%n is t% "e /r%/%sed@ !nd"G t,e !mendment d%es n%t *% "e$%nd 0,!t is ne)ess!r$ t% )%rre)t !

*r!mm!ti)!# %r %t,er n%n3s+"st!ntie err%r in t,e res%#+ti%n.

(G If t,e ),!irm!n %f t,e meetin*@ !)tin* in *%%d f!it,@ 0r%n*#$ de)ides t,!t !n

!mendment t% ! res%#+ti%n is %+t %f %rder@ t,e ),!irm!n&s err%r d%es n%t in!#id!te t,e

%te %n t,!t res%#+ti%n.

PART

ADMINISTRATIVE ARRAN5EMENTS


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Mens $f %$mm(ni%ti$n t$ !e (sed

.1G S+">e)t t% t,e !rti)#es@ !n$t,in* sent %r s+//#ied "$ %r t% t,e )%m/!n$ +nder

t,e !rti)#es m!$ "e sent %r s+//#ied in !n$ 0!$ in 0,i), t,e C%m/!nies A)t ;;2

/r%ides f%r d%)+ments %r inf%rm!ti%n 0,i), !re !+t,%rised %r re+ired "$ !n$

/r%isi%n %f t,!t A)t t% "e sent %r s+//#ied "$ %r t% t,e )%m/!n$.G S+">e)t t% t,e !rti)#es@ !n$ n%ti)e %r d%)+ment t% "e sent %r s+//#ied t% ! dire)t%r

in

)%nne)ti%n 0it, t,e t!7in* %f de)isi%ns "$ dire)t%rs m!$ !#s% "e sent %r s+//#ied "$

t,e me!ns "$ 0,i), t,!t dire)t%r ,!s !s7ed t% "e sent %r s+//#ied 0it, s+), n%ti)es %r

d%)+ments f%r t,e time "ein*.

(G A dire)t%r m!$ !*ree 0it, t,e )%m/!n$ t,!t n%ti)es %r d%)+ments sent t% t,!t

dire)t%r in ! /!rti)+#!r 0!$ !re t% "e deemed t% ,!e "een re)eied 0it,in ! s/e)ified

time %f t,eir "ein* sent@ !nd f%r t,e s/e)ified time t% "e #ess t,!n -8 ,%+rs.

C$m,n# se"s

3.1G An$ )%mm%n se!# m!$ %n#$ "e +sed "$ t,e !+t,%rit$ %f t,e dire)t%rs.

G T,e dire)t%rs m!$ de)ide "$ 0,!t me!ns !nd in 0,!t f%rm !n$ )%mm%n se!# is t%

"e +sed.

(G 9n#ess %t,er0ise de)ided "$ t,e dire)t%rs@ if t,e )%m/!n$ ,!s ! )%mm%n se!# !nd

it is

!ffi=ed t% ! d%)+ment@ t,e d%)+ment m+st !#s% "e si*ned "$ !t #e!st %ne !+t,%rised

/ers%n in t,e /resen)e %f ! 0itness 0,% !ttests t,e si*n!t+re.

-G F%r t,e /+r/%ses %f t,is !rti)#e@ !n !+t,%rised /ers%n is

!G !n$ dire)t%r %f t,e )%m/!n$

"G t,e )%m/!n$ se)ret!r$ if !n$G %r

)G !n$ /ers%n !+t,%rised "$ t,e dire)t%rs f%r t,e /+r/%se %f si*nin* d%)+ments t%

0,i), t,e )%mm%n se!# is !//#ied.

N$ ri')t t$ ins,e%t %%$(nts nd $t)er re%$rds

/0. E=)e/t !s /r%ided "$ #!0 %r !+t,%rised "$ t,e dire)t%rs %r !n %rdin!r$ res%#+ti%n

%f t,e )%m/!n$@ n% /ers%n is entit#ed t% ins/e)t !n$ %f t,e )%m/!n$&s !))%+ntin* %r

%t,er re)%rds %r d%)+ments mere#$ "$ irt+e %f "ein* ! s,!re,%#der.

Pr$+isi$n f$r em,"$#ees $n %essti$n $f !(siness

/1. T,e dire)t%rs m!$ de)ide t% m!7e /r%isi%n f%r t,e "enefit %f /ers%ns em/#%$ed

%r f%rmer#$ em/#%$ed "$ t,e )%m/!n$ %r !n$ %f its s+"sidi!ries %t,er t,!n ! dire)t%r

%r f%rmer dire)t%r %r s,!d%0 dire)t%rG in )%nne)ti%n 0it, t,e )ess!ti%n %r tr!nsfer t%

!n$ /ers%n %f t,e 0,%#e %r /!rt %f t,e +ndert!7in* %f t,e )%m/!n$ %r t,!t s+"sidi!r$.

DIRECTORS& INDEMNITY AND INS9RANCE

Indemnit#


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/2.1G S+">e)t t% /!r!*r!/, G@ ! re#e!nt dire)t%r %f t,e )%m/!n$ %r !n !ss%)i!ted

)%m/!n$ m!$ "e indemnified %+t %f t,e )%m/!n$&s !ssets !*!inst

!G !n$ #i!"i#it$ in)+rred "$ t,!t dire)t%r in )%nne)ti%n 0it, !n$ ne*#i*en)e@

def!+#t@ "re!), %f d+t$ %r "re!), %f tr+st in re#!ti%n t% t,e )%m/!n$ %r !n

!ss%)i!ted )%m/!n$@

"G !n$ #i!"i#it$ in)+rred "$ t,!t dire)t%r in )%nne)ti%n 0it, t,e !)tiities %f t,e)%m/!n$ %r !n !ss%)i!ted )%m/!n$ in its )!/!)it$ !s ! tr+stee %f !n %))+/!ti%n!#

/ensi%n s),eme !s defined in se)ti%n (2G %f t,e C%m/!nies A)t ;;2G@

)G !n$ %t,er #i!"i#it$ in)+rred "$ t,!t dire)t%r !s !n %ffi)er %f t,e )%m/!n$ %r !n

!ss%)i!ted )%m/!n$.

G T,is !rti)#e d%es n%t !+t,%rise !n$ indemnit$ 0,i), 0%+#d "e /r%,i"ited %r

rendered %id "$ !n$ /r%isi%n %f t,e C%m/!nies A)ts %r "$ !n$ %t,er /r%isi%n %f

#!0.

(G In t,is !rti)#e

!G )%m/!nies !re !ss%)i!ted if %ne is ! s+"sidi!r$ %f t,e %t,er %r "%t, !re

s+"sidi!ries %f t,e s!me "%d$ )%r/%r!te@ !nd

"G ! re#e!nt dire)t%r me!ns !n$ dire)t%r %r f%rmer dire)t%r %f t,e )%m/!n$ %r!n !ss%)i!ted )%m/!n$.

Ins(rn%e

/*.1G T,e dire)t%rs m!$ de)ide t% /+r),!se !nd m!int!in ins+r!n)e@ !t t,e e=/ense

%f t,e )%m/!n$@ f%r t,e "enefit %f !n$ re#e!nt dire)t%r in res/e)t %f !n$ re#e!nt #%ss.

G In t,is !rti)#e

!G ! re#e!nt dire)t%r me!ns !n$ dire)t%r %r f%rmer dire)t%r %f t,e )%m/!n$ %r

!n !ss%)i!ted )%m/!n$@

"G ! re#e!nt #%ss me!ns !n$ #%ss %r #i!"i#it$ 0,i), ,!s "een %r m!$ "e

in)+rred "$ ! re#e!nt dire)t%r in )%nne)ti%n 0it, t,!t dire)t%r&s d+ties %r /%0ers

in re#!ti%n t% t,e )%m/!n$@ !n$ !ss%)i!ted )%m/!n$ %r !n$ /ensi%n f+nd %r

em/#%$ees& s,!re s),eme %f t,e )%m/!n$ %r !ss%)i!ted )%m/!n$@ !nd

)G )%m/!nies !re !ss%)i!ted if %ne is ! s+"sidi!r$ %f t,e %t,er %r "%t, !re

s+"sidi!ries %f t,e s!me "%d$ )%r/%r!te.


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