16 / 65
12
to the application of the purchase money and the title of the new holder to the shares shall
not be affected by any irregularity in or invalidity of the proceedings relating to the sale.
11.
Power to issue redeemable shares
Subject to the Statutes, any share may be issued on terms that it is to be redeemed or is
liable to be redeemed at the option of the Company or the holder. The terms, conditions
and manner of redemption of such shares may be determined by the board before the
shares are allotted.
12.
Power to purchase own shares
Subject to the Statutes, and to any rights conferred on the holders of any class of shares,
the Company may purchase all or any of its shares of any class, including any redeemable
shares. Subject to the Statutes, the Company may hold as treasury shares any shares
purchased or redeemed by it.
13.
Power to reduce capital
Subject to the Statutes, the Company may reduce its share capital in any way including by
special resolution (where such special resolution is required under the Statutes).
14.
Trusts not recognised
Except as required by law or these articles, no person shall be recognised by the Company
as holding any share upon any trust and the Company shall not be bound by or required to
recognise (even when having notice of it) any interest in or in respect of any share or
(except only as by these articles or by law otherwise provided) any fraction of a share,
except the holder's absolute right to the entirety of the share.
UNCERTIFICATED SHARES - GENERAL POWERS
15.
Uncertificated shares - general powers
(1)
Subject to the Law and the Uncertificated Securities Order, the board may permit any class
of shares to be held in uncertificated form and to be transferred by means of a relevant
system and may revoke any such permission.
(2)
In relation to any share which is for the time being held in uncertificated form:
(a)
the Company may utilise the relevant system in which it is held to the fullest
extent available from time to time in the exercise of any of its powers or functions
under the Statutes or these articles or otherwise in effecting any actions and the
board may from time to time determine the manner in which such powers,
functions and actions shall be so exercised or effected;
(b)
any provision in these articles which is inconsistent with:
(i)
the holding of that share in uncertificated form or transfer of title to that
share by means of a relevant system;
(ii)
any other provision of the Statutes relating to shares held in uncertificated
form; or
(iii)
the exercise of any powers or functions by the Company or the effecting by
the Company of any actions by means of a relevant system,