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Restrictions on the transfer of securities

Save as set out below, the Company's Ordinary Shares are freely transferable.

The Company may, under the Act, send out statutory notices to those it knows or has reasonable cause to believe have an interest in its shares, asking for details of those who have an interest and the extent of their interest in a particular holding of shares. When a person receives a statutory notice and fails to provide any information required by the notice within the time specified in it, the Company can apply to the court for an order directing, among other things, that any transfer of the shares which are the subject of the statutory notice is void.

The Directors may also, without giving any reason and in their absolute discretion, refuse to register the transfer of any Ordinary Shares which are not fully paid. The Directors may also decline to register any transfer unless: (i) it is lodged with the Company accompanied by the certificate for the shares to which it relates and such other evidence as the Board may reasonably require; or (ii) the transfer instrument is in respect of one class of share; or (iii) in the case of a transfer to joint holders, the number of joint holders to which the shares are in to be transferred does not exceed four.