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20l1P265]l6 2zno11 20l 0{5lDfol63a 83ala0l IBELLWAYUMTID EiYA iLGEN UsD .250.000.00
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-l
 --- Inatarcrc TrP and tran5fuigsion
Notification (Taasoi6sj.on' of original s6nt to slIFT (AcR
Net*orh Deivery satug: Net}io.k ACK
Pioriw/Doliwery : No:na1

ggage Input Raforenc i i 6 5 9 i ] i 2 2 6TRtlBTR2AAXxx3 7 7 50 9] B 0 c

l{a96ag6 Iader
gif INPur FIr, 202cov Gnra Financia1 Ingtitutj.on Tr.rgfi
s.nd6r : TRiiBTR2AXXX

TURKIYE itALK BANKAS] A.s- (HEAD OFFICE]

ISTANBUr, TR
Recoiv. : iRvTs 3NXXX
THn BANK OE IjEW YORK MELON
NEW YCRK,NY US
Message Text
20 Tfanaaction Rference
: NuDbr
0454DTo163569316
21 :Related Rforenc
04 54 DT0163 5 6 9316
32A:value Dat6, curancy code, nt
Date :27 Decener 20i1
Cllrrency: UsD (Us DoLLAR)
furou.lt :*1.250.000,00*
58A:Bnficiary In9titutiott - BIc
BTEHTRlSXXX
ALBAIAKA TURK PARTICIPATjON BANK
ISTANBUL TR
50K: odoring cutoo6r-a.! Address
/TR2 4 0 001200 94 54 00 0 650 0 0 015
BELLI.]AY LIMITED
FIRST FLOOR JUBILEE BULDINGS VICTC
9999 -INGTLTERE -GB
59 : Eaoficiafi, cu9to!o6r-a!a 6 Add
./TR30 002 03 000 0 0 3 827 5? 000002
MUSTAFA ERDOGAN
l4a8gag Trai16r
(l.!AC:00000000 j
i cHK: lBE36ED7?C94 }

Int6rv!tion9
ca69ory :Netwok Report
ceation Tir.:26.12.2011 ].6: 5 9:00
Ai,Ir].ication : svlIFT Inte rface
oPrator i sAA
Tet i
{ 1 : E2lTRHBTR2AAXXX3?? 5o978oo } | 4,: 1 I'1 1 ]-172261659 } {4 51 : 0) }
 Instance T!T)e and Tansmission
Notification (Ttansmision) of orj.ginal sent to SII!1! (AcK)
Net!ork Delivery statug: \ei,rork Aal
PrioritY/Delivery \.rr,la] :

MaEsage Iput Reference: l6a9 i',7226.i??'3:?2l\xxx 3l ] 5 a 9 j 3 1

Massage Header
sgift INP! FIN 103 sing].e cugtoDe cfedt Tfan8fe.
snder TRitBTR2Axxx :

TURKIYE HALK BANKASI A.s. (IiEAD oFElCE)

I STANBT, TR
Rciver : BTFHTRI sxxx
AT,RARAKA TI]RK PART]clPATION BANK
ISTANBUL TR
ile8gage Tet
20 : sender's Refeaenco
0454DT0163569316
23B.Baak oPfaion code
CRED
32A:val Dte/cuf,r/Interbnk setd Amt
Date ,2'7 Decenber 201-I
Currency:UsD (US DoLI-AR)
Anount :*1.250.000,00*
50I{: ordering cugtoea-Name & Addess
/,lR24cOOL2009 45 4 0 0 0 650 00 015
BBLLWAY LIMTTED
FIRsr ELooR JOBILEE BU]LDINGS VlCTo
9999 _INGILTERE -GB
53A:sender'6 coespondent - BIc
IRVTUS3NXXX
THE BANK O!,NEW YORK MELLON
NEI{ YoRK, NY Us
59 Bettficiary
: cu5tome.-Name & Add,
/TR300020 30000 0382,7 5,1oa0002
,ffsTAFA ERDoGAN
71A: Dtaila of chargeg
si{A
ressage Tfailef
t 00000000 }
},4AC:
{ Cr]K: 18 2!E34 DDEBE }

Ittorveaion
category :Netwok Repot
ceation TL!, 26.r2.2oL 16 : 59: 00
Att ication : SWIET Intertace
operator : sAA
Text :

{ 1 : F21TRHBTR2AAXXX3 7 ? 5 O 9? 8 c 1 i I4,I1'7'1 |1112261,659 } {451:0} }

 Instance E!,Pe and rranslission
Notification (Tran[ission) of oiginal sent to snIEl (AcK}
{etgok Dolivery status:Network ACK
Priority/Delivery Ncrmal :

,tsaage InPut R6f6rence : 1 64 B 1 1 122 6TRHBTF.2AA}:XX3 ? 7 5c 9] 7 3 8

eg8age eader
stift INPI,I FlN 202cov Gn6a1 Financia] tngtitution Tfansfer
sender : TRHBTR2AXXX

TURKIYE 1ALK BANKAS I -\.s. 1j]EAD OFEICE)

TSTANRI]L TR
R6c6iver I IRVTUS 3NXXX
TI]E BANK oE NEw YoRK MELioN-
NEW YCRK, NY US
Message Text
20 Traagaction Reference Nuober
:

0 45 4 DTO163 4 69315
21 Relatd Reference
:

0454DT0163469315
32A:vaJ.u6 Date, curr6nc], code, tou
Date :27 December 2 011
Cullency:UsD (Us DoLLAR)
Amount : *1.250 - 000, 00*
58A: Bneficiary Institution - BIc
BTFHTRISXXX
ALBARAr3 TURK PARTICIPATION BANK
TSTANBI]L rR
50Ki oldoring customer-Name 6 Addres
/rR2 4 00012 00 94 5 4 000 650 0 0015
BELLWAY LIMITED
FIRST ELOOR ,]UBILEE BUILDINGS VICTO
9999 -INGILTERE -GB
59 Beneficiary custoEr-Nama 6 Add!
:

2,1650aOaL2

.lasage Trailer
{}{Ac:00000000}
{ CHK: 7 5710E7 5? 67 9 }

category :Netwok Report

cfoation Ti.!ie:.26.12.20|L 16: 4B : 00
App1ication : swIET Interface
opelator : sA-A
Text :
{ 1 : E2lTRnBTR2AAxxX3??5097738 } I 4 | |I'1'7. |11226|648 } i 4 51 : 0} }
 Instance T!,Pe and transDission
Notification (rangDission) of oliginat gent' to swIl'l (AcK)
}.I6tr.ork Deliwery status i Netwok Aa(
Priority/Deliw,ry }]crnai :

Me9sa96 Input Reference : i 64 9 L i. 2 2 6TaBTR2AAXKX31 1 5 a 9 ; "4,.

essage Header
srrift INPur FI{ 103 sinEle custoDe. credt Tanfe
sondr : TRHBTR2AXXX

TURKIYE HALK BAIiKASI ^\.S. (HEAD oE,EcE)

ISTANBL TR
Rciref : BTEHTRlsxXx
ALBARAKA TURK PART]CIPATION BANfr
iSTANBUL TF.
re55ag6 T6rrt
20 :sender'g Referonce
04 54 DTo163 4 6 9315
23B:Bank opration code
CRE D
32A:val Dt6/cuf/Interbn} settld .rt
Date :27 December 2ci1
Cu:!:ency:UsD (Us DOLLAR)
Amount :#1.250.000,00*
50K; ordering crstomer-Name Addregs
/TR24 0 001200 9 4 54 000 65000015
BELLI{AY T,IMTTED
EIRST F1,0OR JUBILEE BUILDINGS VICT
9999 -I}JGILTERE GB
53A:sender'g corre8pondnt - BIc
TRvTI]s3Nxxx
TjiE BANK OE NEW YORK MELLON
NEIrI YORK, NY Us
59 :Beneficiary custonef-NaOe & Add
,/TR3900203000003a2,7 650aacL2
ZIYA ILGEN
?lAiDtai].s of c}arges
sHA
{esgage Trailer
{aAc:000000001
{ cHK: 3DE5AACB5 69D }

Intervent,ions
catagory :Netrrolk Report
creation Ti,fre| 26. 12. 2071 16: 4B : 00
APPlication : sWIET Inteface
ope.ator : sAA
Text i
{ 1 : E2 1TRHBTR2AAXXX37 7 5 0 977 4 0 } { 4| I I'7'7 | 7 3. 1"22 61 6 48 l {451:0}i
 Instance TlT)e and Transmission
Notification (TranslAisgion) of origina1 6ent to swIFT (AcK)
Netwolk Delivery statug i }]et-ncrk ACK
Priority/Delivery : lJc.r:,a l

M685age Input Reference:1636 _ 1122 ? T Ri l3T F.2 ]-AxX 3 7 ] l0 9 914 2

l6ssage Header
syift NPuI FN 2o2cov Gneal Fina!cia] Ingtituti,on Transfgr
gender : TRHBTR2AXXX

TURKIYE HALK BANKASI A,s. (iaEAD oEFlCE)

ISTANBUL TR
Recive :IRvTUs3NXxx
THO BANK OE NEW YORK MELLON
NEW YORK, NY US
rbssage Tet
20 aransaction Referance Nusber
:

0454DTOi64069]53
21 Ralated Reference
:

0454DT0164069753
32A:value Date, currenc!, cod6, Ant
Date :27 Deceer 20i1
CurrencyiUsD (Us DOLLAR)
Anol1nt : *1.250. O00.0O*
58A: Brreficiary Institution - BIc
AKBKTRISXXX
AKBANK T. A. s.
ISTABUL TR
soK : ordeing custoDef -Name & Add,ess
/,lR2 4 o oo120 0 9 454 0 0 c 6 500 0 01 5
BELLWAY LIMiTED
FlRsT FLooR JUBfLBE BUILDINGS VlC
ToRlA sTR. DoUGLAS IST,E oE !LA.N
9999 -ING]LTERE -GB
59 : Beneficiary custotoor-Name & Addr
/TRl B O O 0 4 60 0 2 0 7 0 010 0 0 0 53 B 65
osI,1AN KETEi,]aI
lggsage frailer
{I4AC:00000000 }
{ clK: 7E3CBEB88B2 4 }
Intrvention9
ategory iNetwork Repolt
cfeation Ti,^e| 2'1 -12.2011 16:3 6:00
APPication : swlFT Inteface
oPrator : sAA
Te.t i
{ 1: F2 ],TRHBTR2A.AXXX3'I'1'1ogg1-42l I4| \'7-1,|7|L22'71636) i 451:0l }
 nstance T}T)e and Transttrission
Notifj-cation (Trarsmission) of original sen to swFT (AcK)
jtetwork Delivety statug: Netraak Aail
Piority/Deliwery :N.lT.a.
ties sagie Input Ref erence i 1 6 3 6 -| I 2 2'7 T ?:]eT ?,2 L;<xx3i 1 1 0 9 9', 4',
rlessage leader
sgift INPuI FI{ 103 sittgle cu8tome. cedt Trargf
sender : TRHBTR2AXXX

TURKIYE HA-LK BANKASi A.s. (HEAD orFICE)

ISTANBUL TR
Roceiver :AKBKTRIsxxx
AKBANr T.A.s.
ISTANBUL TR
ie3sag6 Tet
20 : sender's Rfer6nce
0 454Dai64a69153
23B:Bank oPeration code
CRED
32A :val Dte/cur/tntarbnk s6ttld Atnt
Date :27 Decener 2011
Cu]:ency:UsD (Us DOLLAR)
Amount ;#1.250.000,00+
50K: ordering custoDef -Na.!e 6 Addess
/TR240001200945400065000015
BELLI{AY LIMITED
FIRST ELOOR JIJBILEE BUILDNGS
VIcToRlA sT-DoUGLAS lsLE oF l4AN
9999 -INGILTERn _GB
53A: sendef's corregPondeot - BIc
RVTUS3NXXX
THE BANK CF NE!{ YORK MELLON
NEW YORK, NY US
59 iBen6ficiary customer-Na8 Addr
,/TRl B0 00 4 60 02 07 0 010 0 005 3B 65
OSMAN KETENCI
71A:Details of chafgos
{saage Tailer
i[4AC:00000000}
i CHK: c7 2 6ABEC14 F2 i
Inervenions
categofy :NetwoIk Report
cration TLlcr 2'1 .12.2011 16: 3 6: c0
APt lication : swlFT Interface
oporatot : sAA
Tet :
{ 1: E2lTRHBTR2AAxxx3?7?O99141} { 4 | |I'7'7 ||II22?1636 } { 451:0 i }
 tnstanc6 Tj.Pe and Trangmission
Notification (Transmigsion) of oiginal sent to swlFT (AcR}
}ilet$ork Delivery satus: Ne!,ror]< a-ai(
Piority/Delivery : NcIiI].a]-

tessage Input Reference: 1c3a 1i i 21.5:!da:R2a}Jxx3 .16',c36542

Message Header
sift PIT FN 202cov Grrra1 Financial Ingtitution Transff
sender : TRHBTR2AXXX

TUi.KIYE I1ALK BAJ,],3S 1 A.s. (iEAD oFacE)

ISTANBUL TR
Roceiver :IRvTUs3NxXx
TgE BANK oE NE-vl YoRE }IEI-I-ON
liEw YORK,NY Us
iissago Text
20 Tansaction R6f6rence
: Nubr
c454DTc158566120
21 Related Reforence
:

0454DT0158566120
32A-:velue Date, cufencf, code, nt
Date i15 Dece,,er 2011
Cu!:rency:UsD (IJs DoLlnR)
Amount :*2.500.000,00*
58A: Beneficiary Institution - BIc
BTFHTR] SXXX
AI,BARAKA TURK PARTICIPATIoN BANK
ISTANBUL TR
50K: ordeing cutoer-Nae 6 Add6a9
/TR2 4 0001200 94 54 00 0 65000015
BELLWAY LIMITED
ElRsT FLooR JUBILEE
BU]LDIt,'Gs ViCTo
9999 -INGILTERE -GB
59 :B6neficj.ary customer-la.td6 & Add
/rR30 8275?000002

------ Mesgaga TaiIer

{mc:00000000}
{ CHK: E7 519 4 6E5827 }

Intervention9
catgory :Network Report
creation Tire: 15. 12.2011 10: 35: 00
At trlicaion i st/,JIET 1nterface
oPerator : sAA
Tet i
{ 1: F21TRHBTR2AAXXX 3'16\086542I { 4: { 1??:1112151035} { 451:0 } )
 --- Instance Ett> and Trangmission
i{otificatiot (Transmisgiott) of oiginal sent to stlEr (Ac)
NetaofL Deliwery statu: Netrcak Acr
Piority/D6livry : }r-cnna]

l4e59age Tnput Roferonce:1035 11 i 2 15TRriBTR2AAxxx3 7 6108 6541

ras8age Headet
sr{ift lPuT FIN 103 single cuaomer credt Tranafor
send6r : TRIiBTR2AXXX
TRKIYE ILALK BANrASI A.s. (taAD ciE]cE)
ISTANBUL TR
B6ciw6r : BTEHTRIsxxx

ALBARA_{A TRK PARTICIPAT1O},' BANK

ISTA|IBUL TR
Messag6 Text ----------
20 :sender's Reference
0 4 54 DTOl5B 5 6 612 0
23B:Ban} operation code
CRED
32Atvat Dte/curr/Int6.bnk settld Art
Date :15 Decerber 2011
currency: UsD (Us DoLLAR)
Amount :#2.500.000,00*
50K: ordering custo@or-Name G Addreag
/ 1R2 40o012o09 45400065000015
BELLWAY LIMTED
EIRST ELOOR JUBILEE BUILDINGS VICTO
9999 -INGLTERE -GB
53A:send6r's cortegpondent - BIc
1RVTUs3Nxxx
THE BANK OE NEW YORK MET-T,ON
NEW YORK, NY US
59 :Bneficiary custoEe-Name E Add
]000002
sTAEA
,7
of charges
sItA
Mesgago 1rail6t
t}{Acl00000000}
{ cHK: 4 DA5BD2 00E9Ai

category iNetwork Report

creatiott Tile: 15. 12.2011 l0: 35: 00
App1ication : swI!"I Interface
oPrator : sAA
Text :
i 1 : F2 1TRHBTR2AAXXX3? 61 0B 654 1 } | 4,| II'l'7 . |u,21,5!035 } i 4 5 1. 0 } }
 Ingtance Ti,!r and Trangmi55j.on
Notification (Trangrissioa) of origlina aent to sllFT (AcK)
Ntork Deivery statua:Network AcK
Piority/Dolivay : No !1a l
.esgE InPut Rfe6nc6: 1028 i 11215TR!a3TR2AAxxx]'7 6ic86534
ile33a96 Had6
sift INPT FrN 202cov Gnral Fita!ci. Intitulion Trangfer
snd.r : TRHBTR2AXXX

TURI(iYE HALK BANILASI A.s. (HEAD olFIcE)

ISTANBUL TR
REceivr : IRVTUS3NXXX
TH BANK OE NEW YORK MELLON
NEW YORK, NY US
Message T6xt
20 : rangaction Referance tu.Db6r
04 54DT0].584 6 6119
21 Rlated R6fel6nce
:

04 5 4 DTo158 4 66119
32A:vau6 Dat, cu.r6ncf, cod, An
Date 15 December 2011
curlency:UsD (Us DoLLAR)
Amornt : *2 - 500 - 000,00*
58A: Bnficj.ari, Insticution - Bc
BTEHTRI SXXX
ALBAArA TURK PARTICIPATIOIi BANK
ISTANBUL TR
50K: ordring custoo.r-NaDe 6 Address
/TR240001200945400065000015
BELLWAY LMITED
EIRST FLooR JUB]LEE BUlLDlNGs V]cTo
9999 -NGILTERE -GB
59 : Bnoficiary cuso@.-Nan t Addt
,i TR3 90 02 0 3000003 82 7 6 5000 012
zlYA ILGEN
r699.E Trailor -------
{MAc:000c!c00)
{cHK:E30190AOlEBD}
Itt6rventionB
cateEoiy :Network Report
ceation Tir6: 15. 12. 2011 10: 2B : 00
APPication : sw ['T Interface
olrorator : sAA
Txt :

{ 1: E2].TRHBTR2AAXXX3761086534 } |4, \l'7'7,.1Ll2151028 i {451:0 ) )

 V

--- Ingance Tfl> aJld TrasBision

Notification (Trangoission} of original sent to slET (AcK)
Netr.ork Delivory status: lietcrk ACK
PrioritY/Delivey }iiorma ]-:

{e8gage InPut Ref6r6nc:1028 111215TRIiBTR2AAXXX3 ? 610 8 653 J?

t{oggage lleader,
swift ryPur FIN 103 singl cu5toDer cf6dt T.ansfe!
sender : TrulBTR2AxxX

TURKIYE HALK tsANl'3-s I A.s. (iiEA-D oFEICE)

i STANBUI, ?R
Receiwe : BTFHTR] sXXx
ALBARArA TURK PARllCIPATlot]' BA.\K
ISTANBUL TR
}tessag Text ----------
20 : snder'g Refefonce
0454DT0158466119
23B:Bank oPration code
cRED
va1 Dto/curr/Intarbnr sett].d AEt
32A:
Date :15 Decere! 2 011
currency:UsD (Us DoLLAR)
Amount :+2.500.000,00*
50K:ordaing c9 toor-Name & Addresg
/TR240001200945400065000015
BELLWAY LIMITED
FIRST ELOOR JUBIIEE BUILD]NGS VICTO
9999 _INGILTERE _GB
53A: snder's correpondnt - BIc
TRVTUS3NXXX
THE BANK OF NEW YORK MELLON
NBW YORK, NY US
59 :Baeficiary custoEer-t{..t 6 Add
3B2765000012

sHA
---- Message Taile! ------------
i[4Ac:00000000}
{CHK:6DE7F9333334 }

Intefv!tion s
category :Network Report
c.eation Tine: 15.12.2011 10.28:00
Apt lication : swlFT Interface
oPator : sAA
Tt :
11l F2lTRHBTR2A_AXXX3?61o86533 } { 4: ( l77: L11215102 B } { 451:0 ) }
 ie]i HA[,.KBANK
F\\K\il 15
,liF ] TURKlYE HALli
l,|i,

-'
'Jf]- J ,? J llo,1
-n}i l] Vl{H :1 l
ADET TuTAR $L) B. UBE

200
]65 l)'] ,100

50 A. UBE
a 20
{Ft-tt I l. fl1
_
10
J[]_ t H [j lr n HIl
5
=
o
Tr]Aj. BijL! . ( u5:t Toplam

(lL)

? .. (u3n}lRlLYONXYu?ELLiil ?r0 Toplam

r
AIKtAfiA 04540T0!.655 UD ?50000.0 1. B8OO0 TRls. BE0 -

0 0-00
LEHAR A0l : iusT AF A E RDid Ai{
,T
Ati t EO i Z TL- Il
T HALK

tjFi|{AOi:j j t]K Tt? /t6-55

2]2
 E,-{ALKBANK
.i.?[,'\llj1\l',..]\ Ser] |HA I
4 i,.i)
No: l Tarih.
Valr:

KUPR ADET TUTAR crL) B. UBE

.lt Lt nY L1l{ITLtr 200

TR4 .000i ?009 4540 0o65 ,]tjo 100
650tl0 0] 5 50 A, UBE
2
; 20
THLAl nJi i]uZ 1tjA,i,Ii,jFE ] liL 10
5 At {PZAR I ,1
l

All;- tittj. (usD Toplam

.lJi.tI.Yj, (TL )

3
[j.,j_l.V
iliiiRfF

E
=
T^^]) a,

AIXLAHA 0454DTO6J4 s0 t?50000.00 t. B8/0000 TRH5,BE0. nf

0 0.00
JIY tLn[i
(l HALK
TuR

tJli iADA iDK-TR,/6.J.1

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j7 884
-Jel-,$ji;$i"H":-

Man Adas Devleti

i,sll,i,;**,
12 tyUl 201,{

0o7z45v

MAN ADASI

2006 TARHL SRKETLER YAsAsI

Krulu Be lsesi
Madde 3(l)(c)

inxnrrn sici, MDtIRL, nu begeye,

BELLWAY LIMITED

unvanl irketin 2006 tarihli irketler Yasas tahtnda

bugn kurulduunu tasdik eder.

l Austos 20l l
Ekonomik Kalknma Bakanl
irketler Sicil Mdrl

irketler Sicili, Ekonomik Kalknma Bakanlnn bir paasdr. Bu belge, Finansal Denetim
Komisyonu veya Sigorta ve Emeklilik Kurumu taafindan diizenlenen bankaclk,
yatnmclk, CSP veya sigortaclk faaliyetlerinin veya sair faaliyetlerin yirlmesi iin
verilen bir ruhsat deildir.

bu belgenin, grdm aslnn ayru;lduunu tasdik ederim.

Ad (byk harflerle): AIDAN F. DAVIN

Equiom Trust Company Limited'teki Pozisyonu:

YNETM KURULU YES
Taih: 2 Austos 20l l

Imza: [imza vardr]

Equiom Trust Company Limited, Man Adas Finansal Denetim
Komisyonu tarafndan bir Kurumsal ve Trst Hizmeti Salaycs
olarak ruhsatlandnlm bir Trst irketidir

Kal ,l 80080
a
is^
Tol (.90
Tel
TERCME . Tel.: (+90 212) 256 65 62 - Faks: (+90 2l2) 256 65 63 - E-posta: itriter@e_kolay.net
{.

,-7lrL,
 Isleof Man
GoVemment
rr!:!l l:!l, v.ni" 007z45v

IsLE o fM AN
coMPANIE :S Ac T20 0 6

ce rti fi ca te o f r n co rp o ra ti o n
Sectio 3(1)(c)

THE REGISTRAR OF COMIrANIES hereby cetifies that

BELLWAY LIMITED

is this day incorporated under the Companies Act 2006.

jtriif h h i.l.!.cop!.' otlt orixl.!t. shi.h t h 1st day of August 2011

.n,r {br..pi!h: il.afu --f :--P-I.1-Y--_......
EqUlonl

o.",.._i-_._ft.l lrST Ja, \l

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h.. i6i r |l. ltr. ra h.
Fnlih. cJift n,. n (..9!r.tr |ndn(.nin lnnid.r

Department of Ecnomic Development

Registrar f Companies
l

The Companies Registry is part of the Depatment of Economic Develo pment. This
certificate does not constitute a licence to cnduct banki ng, investment, CsP, insurance or
siness regulated by the Financial Spervision Commission or the insu rance and
TaNgnl
s Authorty.
Bahetep ihal,
KaI]4
, ls!
Tcl., I.90
Tel.
 Iquiom u5t company [imited

u
The Directors
Bellway Limited
First Floor
Jubilee Buildings
victoria street
Douglas
lsle of Man
lM1 2sH

BellwaV Limited (the "companV")

l, Mr Barry curtis Smith, an authorised signatory of Equiom Trust company Limited, the Registered
Agent of the company ("the Registered Agent''), do hereby certify that:-

1. The Company is a company incorporated and existing under the lsle of Man companies Act
2006 with cornpany registration number 7245V;

2 Herewith is a correct and complete copy of the register of directors of the company; the
director of the company is:

Name and Addess of Directors Date of Appointment

kasim oztas 15 November 20'l 1

sait Halim pasa caddes i

No: 27 Daire:s
Yenikoy-Sariyer
lsantbul
Turkey

3 Herewith is a correct and complete copy of the register of members of the company; the
shareholder of the company is:

Name and Address of shareholder Number and Type of shares Held

kasim oztas 1 ordinary share

sait Halim pasa caddes i
No: 27 Daire:s
Yenikoy-Sariyer
lsantbul
Turkey

Iubilee 8Uitdin95, Victolia 5treet, Douglas, lsle of Man lM1 25H Tel: +44 1624 699000 Fa: +44 1624 699oo1 tmail: enquirie5@equlom lm www.equiom.im
.girt.r.d off..: lu bilee 8uildngr. Vi(tl]i street. Do!qla1,l9leo{ Man lM125H .glst.r.d ln th.lrle ofM.n:No 11582
t.lnm Tilrt anmDi.v linited r li...rPd bv he l9le of Ma. Finan.ialsl1..fur,o. commilson
,/' Equiom

4 The registered office of the Company is at First Floor, Jubilee Buildings, Victoria street,
Douglas, lsle of Man, lM1 2sH;

The company is in good standing and that there are no proceedings pending or threatened
aganst the company and that no action has been taken to wind up the company or to
appoint a receiver or manager;

6 Equom Trust Company Limited holds a licence granted under the lsle of Man Fiduciary
services Acts 2000 and 2005 which does not exclude acting as registered agent.

Dated this 28th day of November 201 1

B c Smith
Authorised Signatory
For and on behalf of
Equiom Trust company Limited
Registered Agent
 ApostiI!e
(Hague Convention of5 October 1961/Convention de la Haye du 5 Octobre 196'1)

1 country: lsle of fvlan

Pays: l'lsle de Man
This public documenVLe prsent acte pubic

2 has been signed by

a t sign par ....... UL BRADLEY CARTER

3. acting in the
agissant en de
of
TA Llc
.;-

4, bears lhe
est revet

-8 D
5. at Dou s

7. by His
par son EXce G oUVe db an
r
8 Number/sous No (M) loM Jf l,\>) 06 069 2
9 stamp: 10 signature
timbre:
Ashl ey Marg t sayle
oeputy Assistant chief Begisr.
For His ExceIlency the Lieutenant Govemor
Pour son Excellence Ie Lieutenant Gouvemeur

The lsle of Man is an internally self-goveming dependent territory of the British

crown. lt is not part of the United Kingdom but the United Kingdom is responsible for
its intemational relations.

lf this document is to be used in a country which is not party to the Hague

convention of 5 october 1961, it should be presented to the consular sction
of the mission representing that country.
 T5Cj]?:J-

j7 884
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"
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Man Adas Devleti ':,\}l,,l;;u,,,"

1 2 ty|Ul 2011

ffi7?45v

MAN ADASI
2006 T -,i s inrBr LBR YAsASI
kurulu Belgesi
Madde 3(l)(c)

RKETLER sici. MtiDRr, uu begeye,

BELLWAYLIMITED
unvanl irketin 2006 tarihli
irketler Yasas tahtnda
bugn kurulduunu tasdik eder.

l Austos 201l

Ekonomik Kalknma Bakanl

irketler ici| Mdrl
irketler sicili, Ekonomik kalkrnma Bakanlnn bir paasdr.
Komisyonu veya Sigorta ve Emeklilik -r*r,n,i-ti."nndan Bu belge, Finansal Denetim
dzenlenen bankaclk,
faaliyetenin ,.y" ."i, *iv"ti".i. yt.t*...j""
]::l:T.,l[-.::,'..'',i,,''*onu"",k

ibu b elgenin, grd m aslnn ayn ol duunu

tasdik ederim.

Ad (byilk harflerle): AIDAN F. DAVIN

FgrJnly:l_Cjmpany. Limited' teki Pozisyonu :

YONETIM KURULU YESi
Tarih: 2 Austos 20l l
a l,
/,
mza: [imza vardr]
,f
Eq u o m rus C o m pan y L lm d, Man d as F inansal

JlrL
D n lm *
Komisyonu tarafndan b r K urums al e T ro st H lzm
S a a y c ls ]
o laak ruhs tland rl m b lr T ro st irket
rahs..n caoe
gahcetpe
d r
ndl
(al r 8!080 a Il
lA
T.,l (.9o
leI
TERCME - Tel: (+90 2|2) 256 65 6' - Fas: (+90 2l2) 256 65 63 - E_posta] itritcr@e-kotay.nel

\ (
 Isleof Man
Go\,rnment
E1l!,: l:!lll y| i\ 007z45v

ISLE of MAN

COMPANIE:S ACT 2006

ce rti fi ca te of rn co rp o ra ti o n
Sectio 3(1)(c)

THE REGISTRAR oF COM'ANIES hereby cetifies

that

BELLWAY LIMITED

is this day incorporated under the Companies Act 2006.

.t.llf,(ht hl is l. cop.,- of.h. orlPill. h|h l b 1st day of August 2011

nclbnctps:il.tS.-f -.-P_Y]-Y--.-..___
Equlon! I'r/(' (
..)-_?- (:_g-!.___
D]t: _.-
2 -!T _..]Q-,_!_

{..
(.n b! . lt} .' rh
lr6iti.n c.msnrin. ( olP{rrndfu ^k.P^ldr.

Department of Ecnomic Devetopment

Registrar f Companies
1

The Compan ies Registry is part of the Department of Economic Develo pment.
This
certificate d oes not constitute a licence to cnduct bankin g, lnve
5tment csp, insurance or
siness regulated by the Financial Spervision Commission or the
Insurance and
ak9m Authority.
8ahcelep lhan
(a! 4
..6
lcl,,.g}
Te.

Isleof Man
Go\rcmmcnt
vrnnin
o07245v
R.ill!, Elln

ISLE of MAN

coMPANIEs AcT 2006

Ce rtifi ca te of r n co rp o ra ti o n
Sectlon 3(l)(c)

THE REGISTRAR OF COMPANIES hereby certifies that

BELLWAY LIMITED

is this day incorporated under the Companies Act 2006.

To AlL To wHou the6 psni sholl come :

BABRY CURTls sMITH, ol Douglcs, Isle,

rl.jn NOTARY PIIBLIC Do HEREj6Y CEFTIFY th

:l',,T1r,i:r"T':;XT;'f , ilff iTff:ff ';.

,T ::il -ffi T:.lf:T"J: ffiji.,i;*",i,
dgree thgreth

This lst day of August 20$ffi:Jy"]T[?ll,,:i"#.j",,;.j.dl

so(:l o{ ouice cl Dolglos Isie ol Md. cjorsoj thi.
^my ot
l+ody FG,a l.<r,\ lwolhousondcid

2%_
F,LL,,"

Department of Economic Development

Registrar of Companies

The Companies Registry is part of the Depatment of Economic Development, This

certificate does not constitute a licence to conduct banking, investment, CSP, insurance or
other business regulated by the Financial supervision Commission or the Insurance and
Pensions Authority.
 ,: \\

meD&
l|937E88
ASI

ASI
,.
_ :yluj 2011

HissB-,nniylE SINIR_, nin inrrr oLAN

BELLWAY LIMITED,IN

KURULU SENEDI VE

aNa sz,n,nsi

bu belgenin, grdm aslnn ayn olduunu tasdik ederim.

Ad (byk harilerle): AIDAN F. DAVIN

Equiom Trust Company Limited'teki Pozisyonu:

YNETM KURULU YES
Tarih: 2 Austos 20l l

mza: [imza vardr]

Equiom Trust Company Limited, Man Adas Finansal Denetim
Komisyonu tarafindan bir Kurumsal ve Trst Hizmeti Salaycs
olarak ruhsatlandrlm bir Trst irketidi

Equiom Trust Company Limited

First Floor
Jubilee Buildings
victoria street
Douglas

tr
laksm CaO&sl. .;
Isle of Man

Bahetp |nanlNo

lsT

e
rni rencvg - el.: (+9o 2!2) 256 65 62 _Faks: (+902l2)25665 63 - E-posta: itriter@e-kolay.n9t
2ll
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l+90
 MAN ADASI
Hg378 88
zooo rani,i inrnr,ER yAsAsI
Histinniilr srNin, nin inxnr oLAN
BELLwAy iviBo,iN
KuRuLU srNBi vB
aNa sz,nvnsi

l. Unvanr

irketin unvan, BELLWAY LIMITED'dir.

l. l uru

irket, hisseleriyle snrrl bir irkettir.

3. Ticaret siciline kayth merkezi

irketin ticaret siciline ilk kaytl merkezinin adresi, First Floor, Jubilee Buildings, Victoria
Street, Douglas, Isle of Man, IMl 2SH'dir.

4, Kyth temsilcisi

irketin ilk kaytl temsilcisinin ad, Equiom Trust Company Limited'tir.

5. Thhtte bulunan hissedarlar

Taahhtte bulunan Taahhtte bulunan Taahhtte bulunan Taahhtte bulunan

her bir hissedann tam her bir hissedarn her bir hissedann her bir hissedarn
ad ikamet veya i adresi satn almay kabul beher Hisse iin
ettii hisse adedi demeyi kabul ettii
tuta

Equiom Nominees First Floor Bir 1.00 f,

Limited Jubilee Buildings
victoria street
Douglas
Isle of Man
IMl 2SH

JlrLca
86iel ih

ls

Encv - e|.: 1+90 212\ 256 65 62 - Faks: (+9o 2I2) 256 65 63 _ E_posta: itriter@e_kolay,net

f!,
 ilg57888
6, Taahhtte bu|e buIunan buIunadarn hisseleri alma mutabakat

Kurulu senedini imzaiimzalayaimzalayane biri, yukandanertilen adettekiHisseleri almaY

kabul ve taahht eder. )der. ,der.

7. Kurulu SeneSenedi vejenedi veye tadilat

irket, kurulu senedienedini venedini vmesini, irketin Ana szlemesinin 32. Maddesine
uygun olarak Genel Kdel Kurul lel Kurul Vnetim Kurulu Karanyla tadil edebilir.

8. Imza ve tarih rih rih

irketin Man Adas yas yasalas yasalalmas amacyla, taahhtte bulunan her bir hissedar,
Kurulu Senedini, hisso hissedar hissedarn karsnda belirtilen tarihte imzalamtr.

Equiom Nominees Lims Limiteds Limited

adna ve yerine

[imza vadr]
Barry Curtis Smith h h l Austos 20l l
Ynetim Kurulu yesi )yesi j yesi

JtrL
Ja\5m
8ael.p.
K8l4
s]

TERCME _ l.ME _ Tc|.: (ME - Tel.: ( - Faks: (+90 2l2) 25 6 65 63 - E-posta: itriter@e-kolay.net
l a0 25i it 0]

,JlrL
2
 I{957EE8
MAN ADASI

2006 TARIHLI IRKETLER YASASI

HissELERiyLE SINIRLI nin inror oLAN

BELLwAy LIMITED,iN
aN,q, szl-,Bvrsi

l. Tanmlar ve yorumlama

1.1 Bu Ana Szlemede, konu veya balamla tutarsz deilse,

1.1.1 "Yasa" ifadesi, 2006 tarihli irketler Yasas ve faaliyette olduu sre iinde bu
Yasada yaplan yasal deiiklikler veya bu Yasann yeniden yasalatnlm hali
anlamnda kullanlmtr;

1 .1 .2 "Ana Szleme" ifadesi, irketin, zaman zaman tadil edilen Ana Sdemes
anlamnda kullanlmtr;

1 .1 .3 "Kurul" ifadesi, Ynetim kurulu anlamnda kullanlmtr;

l .1,4 "Kurut Bakan" ifadesi, Madde 19.2'ye gre yorumlanacaktr;

1.1,5 "Grup" ifadesi, Hisselerle ilgili olaak, her biri zde haklara, ayncalklara,
snrlamalara ve artlara sahip Hisse gruplan anlamnda kullan[mtr;

l .1 .6 "Ynetim Kurulu yesi" ifadesi, irketin bir ynetim kurulu yesi anlamnda
kullanlmtr;

1.1.7 "Dahm" ifadesi, irket tarafndan bir Hissedara yaplan bir datmla ilgili olaak,
Hisseler dndaki varlklann bir Hissedara veya bir Hissedann menfaatine dorudan
veya dolayl olarak dewi veya bir Hissedar adna veya bir Hissedann menfaatine, o
Hissedann sip olduu Hisselerle ilgili olaak ve ister bir varln satn alnmas, ister
Hisselerin satn alnmas, itfas veya sair bir surette iktisap edilmesi, ister borcun devir
veya temlik edilmesi yoluyla olsun, bir bo altna girilmesi anlamnda kullanlm
olup, br temetty de kapsar;

1.1.8 .,Kurulu Senedi,, ifadesi, irketin z nnan zaInan tadil edilen Kurulu Senedi
anlamnda kullanlmtr;

1 .1 .9 "kii" ifadesi, bir tzel kiiyi ierir;

1.1.10 "Sicil Memuru" ifadesi, Yasann 205. maddesi tahtnda tay ed ile n eI il
(,
Memuru anlamnda kullanlmtr;
<ItrL
Takslm
.|
.
8ahelep.
TERCME - Tel.: (+9o 2l2\256 65 62 - Faks: (+90 2 t2) 256 65 63 - E-posta: itrite
isT

\
 t|g57s E8
1.1.1l "Kae" ifadesi, irketin kaesi olarak usultince kabul edilen bir kae anlamnda
kullanlmtr;

l .l .12 "Hisse" ifadesi, irket tarafndan kanlan bir hisse anlamnda kullanlmtr;

l .l .1 3 "Hissedar" ifadesi, ad, bir veya daha fazla adetteki Hissenin veya ksuratl Hisselerin
sahibi olarak irketin pay defterine kaytl olan bir kii ve Kurulu Senedinde, o
kiinin ad irketin pay defterine kaydedilinceye kada taahhtte bulunan bir hissedar
olarak ad geen ler bir kii anlamnda kullanlmtr;

1.1,14 "Ykmllkleri Karlama Yeterlilii Testi" ifadesi, Yasann 49. maddesinde

("ykijmllkleri karlama yeterlilii tesli" ve "datm" fadelernin anlamlar)
anlan, irketin, irketin i faaliyetlerinin normal seyri srasnda doan borlarn
deyebiliyor olmas ve varlklannn deerinin, ykmllklerinin tutarndan fazla
olmas halinde baaryla getii, yiikmllkleri karlama yeterlilii testi anlamnda
kullanlmtr;

1.l.l5 "Oy Haklar" ifadesi, Genel Kurulun bir karanyla veya bir Hisse grubuna ait
Hissedarlann bir kaaryla ilgili olarak, sahip olunan Hisselere ait haklar erevesinde
bu Hissedarlara verilen bu karar hakknda her trl oy kullanma hakk anlamnda
kullanlmtr;

1.1.16 "yazl" ifadesi veya benzeri bir anlam antran bir terim, elektronik veri alverii,
elektronik posta, telgraf, teleks veya faks dahil, elektronik, dijital, manyetik, optik,
elektomanyetik, biyometrik veya fotonik aalarla retilen, gnderilen, alnan veya
depolanan bilgileri kapsa ve "yazl otarak" ifadesi buna gre yorumlanacaktr.

1.2 Bu Ana Szlemede, balam aksini gerektirmedike,

|.2.1 (a) bir "Madde"ye yaplan bir gnderme, bu Ana Szlemenin bir maddesine
yaplan bir gndermedir;

(b) Hissedarlann oy kullanmasna yaplan bir gnderme, Hisselere ait

oylann Hissedarlar tarafindan kullanlmasna yaplan bir gndermedir;

1.2.2 bir cinsi ifade eden szckler, dier btn cinsleri kapsar ve tekil kullanlan bir
szck, o szcn oul halini (veya tersi) de kapsar ve

1.2.3 bu Ana Szlemede kullanlan szckler veya ifadeler, Yasada tadklar ayn
anlam tarlar, ancak bu anlamda yaplan ve Ana Szleme irket zerinde
balayc hale geldii srada yrrlkte olmayan bir yasal deiikl!k

1.3 Balklar yalnzca bavuruyu kolaylatrmak iin konmu olup, An

yorumlanmasn etkilemeyecektir

2 Hisse lmhaberleri

2.1 Her Hissedar, sahip olduu her bir Hisse grubuna ait btn hisseler i n, bir
Ynetim Kurulu yesi veya yneticisi tarafndan ya da bir Ynetim Kurulu kararyla

3 JtrL
Talrm caddesl.
li klnan dier bir kii tarafndan imzalanm ya da Kae altnda, o Hissedann
3ahcee9e
TERCME - Tel.: (+90 2l2\ 256 65 62 - Faks: (+90 2l2) 256 65 63 - E-posta| itriter@e-kolay.net

Te

(lE 2i 6t 51
 t{9578 88
sahip olduu o Hisse Grubuna ait Hisselerin adedini belirten bir Hisse lmhaberi alma
hakkna sahiptir. Bu imza veya Kae bir faks sureti olabilir.

2.2 Bir ilmaber alan bir Hissedar; iketi ve Ynetim Kurulu yelerini ve yneticileri,
irketin veya bu kiilerin, sz konusu ilmhaberin ya da sz konusu ilmhabere sahip
olunmas dolaysyla herhangi bir kii tarafndan verilen bir beyann haksz veya
yasad bir amala kullanlmas nedeniyle maruz kalabilecekleri her trl zaar veya
mali sorumlulua kar tazmin edecek ve masun tutacaktlr. Bir Hisse ilmhaberinin
yzilnn kaznmas, yprnmasl, zayi veya tahrip olmas halinde, o ilmtihabe,
Ynetim Kurulunun belirleyebilecei ekilde, delille ve tazmin etme taahhdyle ve
irketin delilin aratnlmas iin makul olarak maruz kald masraflann denmesiyle
ilgili artlar yerine getirilmek suretiyle (aksi takdirde bedelsiz olarak) ve yznn
kaznmas veya ypranma sz konusu olduunda, eski ilmhaber geri verilmek
suretiyle yenilenebilir.

3. Hisselerin ihrac

3.1 Ynetim Kurulunun belirledii zamanlarda, belirledii kiilere, belirledii bedel

karlnda ve belirledii artlar erevesinde Hisseler ihra edilebili ve Hisse satn
alma opsiyonlan verilebili.

3.2 Bir Hisse bir nominal deer zerinden veya bir nominal deer olmakszn ihra
edilebilir. Bir nominal deerle ihra edilen bir Hisse, herhangi bir para birimi
zerinden ihra edilebilir. Bir nominal deerle ihra edilen bir Hissenin nominal
deeri, Hissenin ihra edildii para biriminin en kiik deer biriminin bir kiisurat
olabilir.

3.3 Hisseler numaral veya numarasz olabilir.

3.4 irket, ksuratl Hisseler ihra edebilir. Ksuratl bir Hisse, ayn Gruptaki bir tam
Hissenin tekabl eden ksuratl haklarna, ykmllklerine ve borlarna sahiptir.

3.5 irket, bedelsiz hissele ve sfir demeli veya klsmi demeli hisseler ihla edebilir.

3.6 Bir Hisse; para, bono veya para, menkul, gayrimenkul, kiisel mlk (erefiye ve know-
how dahil), verilen hizmetler, gelecekteki hizmetler iin bir szleme eklinde katk
yaplacana dai sair bir yazl taahht dahil, her tiirl karlk mukabilinde ihIa
edilebilir; u artla ki, Ynetim Kurulu,

3.6.| Hisselerin ihrac iin alacak kaydedilecek bedeli;

3.6,2 ihracn para dndaki karlnn makul cari nakdi deerini ve

3.6.3 ynetim kurulunun kanaatine gre, ihacln para dlndaki kalnn cari
nakit deerinin, Hisselerin ihrac iin alacak kaydedilecek tutardan az
olmadn

belirten bir karar almadka, para dndaki bir karlk mukabili sse
edilemez.
,-7trL
Takslm caddesl

Kal 4
,IERCME - Te|.: (+go 2l2) 256 65 62 - Faks: (+90 2l2) 256 65 63 -+posajtritc
To

{igE 2l 256658t
c
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 ilg37 E E 8
3.7 irket, aadaki bilgileri ihtiva eden bir pay defteri tutacaktr:

3.7.| Hissedarlann her birinin ad ve i veya ikamet adresi; u artla ki, pay
defterinde bir Hissedann ikamet adresi belirtilmiyorsa, kaytl temsilci, bu
adresin ayn bir kaydn tutacaktrr;

3.7.2 her bir Hissedarn sahip olduu her bir Gruba ait Hisselerin adedi;

3.7.3 her bir Hissedann adnn pay defterine kaydedildii tarih ve

3.7.4 bir kiinin Hissedalnn sona erdii tarih.

3.8 Pay defteri, Ynetim Kurulunun onaylad herhangi bir formda olabilir, ancak, pay
defteri manyetik, elektronik veya sair bir veri depolama formundaysa, irket, pay
defterinin muhteviyatnn okunakl bir delilini retebilir olmaldr.

3.9 Bir Hisse, Hissedann ad pay defterine kaydedildiinde ihra edilmi saylr.

3.10 irket, herhangi bir kiiye, irketteki Hisseler iin mutlak suette veya arth olarak
taahhtte bulunan veya taahhtte bulunmay kabul eden veya irketteki Hisseler iin
mutlak surette veya artl olarak tahtler temin eden veya temin etmeyi kabul eden
kiiler karlnda, Ynetim Kurulunun belirledii oranlada veya tutarlarda komisyon
deyebilir.

4 Hisselerin Haklar

4.1 Hisselere ait haklara veya kstlamalara tabi olmak kaydyla, her bir Hisse, Hissedara,

4.1 .l bir Genel Kurul toplantsnda veya bir Genel Kurul kaan hakknda bir oy
hakk;

4.1 .2 irket tarafndan denen bir temettilden eit bir pay alma hakk ve

4.1.3 irketin tasfiyesi zerine, irketin fazlalk varlklannn datmndan eit bir
pay alma hakk

venr

4.2 irket, farkl Gruplarda Hisseler ihra edebilir.

4.3 Hisselerin herhangi bir zamanda farkl Gruplara ayrlmas halinde, herhangi bir Gruba
ait haklar ancak o Grubun Hissedarlanrun, bu hususta kullanlacak Oy Haklannn en
az ytzde 75'ine sip olan bir Hissedar veya Hissedarlar taafndan alnan kaanyla
deitirilebilir.

4.4 Herhangi bir Gruptaki Hisselerin siplerine verilen haklar, o Gruba ait Hisselerin
iha artlarnda aksi sarih olarak ngrlmedike, bu Hisselerle eit srada yer alan
ilave Hisselerin yaratlmas veya ihra edilmesi suretiyle deitirilmi

Tak9m caddesi.
D 8ahcelep
Xal

TERCME - Tel.: (+902|2)25665 62 _ Faks: (+90 2l2) 256 65 63 - E-posta:

Tel F

Bl
,Wri
{ 21 8s
 Hg7ff 88
5. Hisselerin Itfas

5.1 irket, her zaman en az bir Hissedannn bulunmaya devam etmesi artyla, kendi
Hisselerini herhangi bir bedel karlnda sahn alabilir, itfa edebilir veya baka bir
surette iktisap edebilir.

5.2 Hisselerin itfa edilebilir olduu ifade edilmedike, irke Hisseleri ancak

5.2.1 btn Hissedallara yaplan ve kabul edilmesi halinde, Hissedarlann ilgili

haklanna halel getirmeyecek olan ve her bir Hissedara kabul etmesi iin en az
14 gnlk bir srenin verildii bir teklif veya

5.2.2 bttin Hissedarlann yazl oluruyla ve Ynetim Kurulunun bu hususta Ynetim

Kurulun kanaatine gre, teklif edilen ilemin, geriye kalan Hissedarlarn
yararna olacan ve teklifin artlannn irket ve geriye kalan Hissedarlar iin
adil ve makul olduunu belirten bir kara almas suretiyle bir veya daha fazla
sayda Hissedaa yaplan bir teklif

gereince satn ahnabilir, itfa edilebilir veya baka bir surette iktisap edilebilir.

5.3 irket, Hisseleri satn almay, itfa etmeyi veya baka bir suette iktisap etmeyi ancak
Ynetim Kurulunun makul gerekelere dayal olarak irketin satn alma, itfa veya
baka suette iktisap ileminden hemen sonra Ykmllfleri Karlama Yeterlilii
Testini geeceine kani olmas halinde teklif edebilir.

5.4 irketin bu Madde gereince satn ald, itfa ettii veya baka bir swette iktisap ettii
Hisseler iptal edilecektir.

6 Hisselere Btnm Sermayede Deiiklik Yaplmas

6.1 ynetim I<urulu, irketin nominal deerli Hisselerden oluan Hisselere blnm
sermayesini herhangi bir ekilde deitirebilir ve bilhassa _ ancak yukandaki hkmiin
genelliine halel getirmeksizin -

6.1.1 btin veya bir ksm Hisseleri daha byk bir tutarl Hisseler halinde
birletirebilir ve blebilir;

6.1.2 btiln veya bir ksm Hisseleri, Ynetim Kurulunun uygun grd esasa gre,
baka bii para biriminden ifade edilen bir nominal deerli Hisseler olarak
yeniden tanmlayabilir ya da

6.1.3 btiin veya bir ksm Hisseleri, da kk tutarl Hisselere blebilir,

1 Hisselere Btnm Sermayenin ndirilmesi

se rmayesini, Y netim
irket, Ynetim Kurulu kararyla, hisselere blnm
Kurulunun makul gerekelere dayal olarak irketin semaye indiriminden hemen
sorra Ykmllkleri Karlama Yeterlilii Testini geeceine kani olmas ] artyla,
herhangi bir yolla indirebilir
9 Tak5l.n ceddosi,
Bah celepe llanl
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8. Rehin

8.1 irket (Ynetim Kurulu herhangi bir Hisseyle ilgili olaak aksine bi karar
vermedike) her Hisse zerinde, o Hisse iin belirlenmi bir tarihte denecek veya
talep edilecek btn paralar iin birinci derece ncelikli rehine sahip olacaktr.

8.2 irket, zerinde rehin sahibi olduu Hisseleri, rehinin konusu olan bir bedelin
denmesinin gerekmesi ve Hissedara veya Hissedann vefat veya iflas sonucunda
Hisse zerinde hak sahibi olan kiiye verilen ve demenin yaplmasn talep eden ve
bildirimin gereinin yaplmamas halinde Hisselerin satlabileceini belirten bildirimi
izleyen 14 gtin iinde denmemesi halinde, Ynetim Kurulunun belirleyecei bir
usulle satabilir.

8.3 Ynetim Kurulu, 8.2 no.lu Madde tahtlnda yaplacak bir sat gerekletirmek iin,
satlan Hisselerin bir devir belgesini alcya veya alcnn talimatlar dorultusunda
dzenlemesi iin birini yetkili klabilir.

8.4 Madde 8.2 tahtnda yaplan bir satn net geliri, sat masraflar dldkten sonra,
rehinin konusu olan denecek bedelin denmesinde kullanrlacak ve varsa artan tutar
(satlan Hisselere ait ilmhaberlerin iptal edilmek zere irkete teslimi zerine ve
sattan nce Hisseler zerinde mevcut olan heniiz deme vadesi gelmemi paralara
ilikin benzeri bir rehine tabi olmak kaydyla), sattan hemen nce Hisseler zerinde
hak sahibi olan kiiye denecektir.

8.5 Deralann, Madde 8.2 tahtnda satlan Hisseler zerindeki mlkiyet hakkna, sat
srecindeki bir usulszlk veya sat usulnn geersizliinden dolay haleI
gelmeyecekti.

9 Hisse Bedetlerinin denmesi arlar

9.1 Hisselerin ihra artlarna tabi olmak kaydyla, Ynetim Kurulu, Hissedarlardan,
Hisselerinin denmemi bedelleini irkete demelerini talep edebilir ve her bir
Hissedar (demenin ne zman ve nereye yaplacan belirten en az 14 gnltik bir
ihbamame alm olmas kaydyla), Hissedarn Hisseleri iin denmesi talep edilen
tutan, ihbamamenin gereklirdii gibi, irkete deyecel(ir.

9.2 an yaplan bir Hisse bedelinin deme vadesi geldikten sonra denmemesi halinde,
demeyi yapacak olan kii, denmeyen tutar zerinden, demenin yaplmas gereken
tarihten, demenin yapld tarihe kadar geen sre iin, Hissenin tahsis artlarnda
veya pay deme ihbamamesinde belirtilen oranda ya da hibir oran belirlenmemise,
ylhk yzde 5 orannda faiz deyeektir. Ancak Ynetim Kurulu, faiz denmesinden
tamamen veya ksmen feragat edebilir.

9.3 Ynetim Kurulu, Hissedalar arasnda Hisseler iin deme anlannn tutaIlan ve
deme zamanlar aasnda oluan bir farklhk iin Hisselerin ifuac konusunda
dzenlemeler yapabilir.
}
(- }
.7lrL


3 a(

8alepe
Ka]4
1s,lAN

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 tg37s E8
l 0. Hakkrn dmesi

10.1 hrac zerine tamamen denmeyen Hisseler, bu Maddede yer alan hakkn dmesi
hkllmlerine tabidir ve bu amaIa, bi bono, para vey4 mlk olaak katk yapma
taahhtnamesi veya gelecekte verilecek hizmelere ilikin bir szleme karlnda
ihra edilen Hisseler tamamen denmemi saylr.

|0.2 demenin yaplaca tarihi belirten bir hakin dmesi ihbamamesi, Hisselerin
bedelini demekte temerrde den Hissedara tebli edilecektir.

l 0.3 Madde 10.2'de anlan hakkn dmesi ihbamamesi, ihbamamenin tebli edildii
tarihten itibaen, ihbamameyle talep edilen demenin yaplaca en az 14 gnlk bir
sreyi kapsayan yeni bir tarih belirletecek ve Hisselerin bedelinin denmemi ksmnn
ihbamamede belirtilen tarihte veya ncesinde denmemesi durumunda, Hisseleri
tamam veya bedeli denmemi ksm zerindeki hakkn yitirileceine dair bir ibare
ihtiva edecelir.

l0.4 Madde l0.3 gereince bir hakin dmesi ihbamamesi tebli edildii ve ihbamamenin
gereklerinin yerine getirilmedii durumda, Ynetim Kurulu, demenin yaplmasndan
nce herhangi bir zamanda, ihbamamenin ilgili olduu Hisseleri iptal edebilir ve
Hisseler zerindeki hakk diirebilir. Hakkrn dmesi, hakkn dt Hisselerle ilgili
olarak denecek ve hakkn dmesinden nce denmemi olan btiin temettleri veya
dier paralan da kapsa.

l0.5 irket, Hisseleri Madde 10.4 gereince iptal edilen Hissedara herhangi bir para iadesi
yapmakla ykml olmayacaktr ve o Hissedar, irkete kar her trl ilave
ykiimllkten ibra edilecektir.

ll. Hisselerin Devri

l1.1 Hisseler, devreden tarafndan imzalanan ve devralann adn ve adresin ihtiva eden ve
irketin kaytl temsilcisine veya Ynetim Kurulunun zanan zaInan kayt ileri
iin
grevlendirdii dier bir kiiye gnderilen yazl bir devir belgesiyle devredilebilir.

11 .2 irket, Madde l 1.1'e uygun bir devir belgesini almas zerine, Hisseleri devralann
adn, Ynetim Kurulunun Hisselerin devrinin kaydnn reddedilmesi veya ertelenmesi
ynnde bir kaar almadka, pay defterine kaydettirecektir.

l .3 Ynetim Kurulu, bir Hisse devrinin reddedilmesi veya ertelenmesi ynnde karar
alamaz, meerki Hissedar o Hisse iin denmesi gereken bedeli dememi olsun,

11.4 Bir Hisse devri, devralann ad pay deflerine kaydedildii anda geerli olur,

l 1.5 Ynetim Kurulu, Hisselerle ilgili bir devir belgesinin imzalanm, ancak belgenin zayi
veya tahip olduuna kani olursa,

11.5.1 Hisselerin devrine ilikin uygun oldunu deerlendirdii bir ul

c7trL edebilir ve *t
las,n cadi
0ae
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 l1.5.2 devredenin adrun, devir belgesinin yokluuna .-*,Hg 7-,R.8 8
kaydedilmesi gerektiine kaar verebilir.

l1.6 Bir Hissedarn lm veya iflas dolaysyla bir Hisse zerinde hak kazanan bir kii,
Ynetim Kurulunun makul olarak alep edebilecei bir kant ibraz etmesi zerine, ya
irkete bu 1,nde bir bildirim vererek Hissenin pay defterine kaytl sahibi olmay
seebilir, ya da, devir tarihinde bir Hissedar olmasa bile, bir devir belgesi
dzenleyerek, baka bir kiinin devralan olarak kaydedilmesini isteyebilir. Hisse devri
belgesi, Madde l l .l'in hkmlerine uygun olmaldr.

12. Datmlar

|2.1 ynetim kurulu, bir Datmdan hemen sonra irketin yfiimlliikleri karllama
Yeterlilii Testini geeceine makul gerekelere dayal olaak kani olmas halinde,
ynetim kurulunun uygun grd tarihte ve tutada
irket tarafndan Hissedarlara,
bir Datm yaplmasna izin verebilir.

12.2 Bir Hissedara bir Datm yaplmas ve irketin Datmdan hemen sonra
ykmlliikleri karlama yeterlilii Testini geememesi durumunda, Datm (veya
bunun bedeli) irkei tarafndan o Hissedardan yasann 5l. maddesi gereince geri
alnabilir.

12.3 Hisselerin ortak sipleri olarak birden fazla kiinin kaydedilmesi halinde, o kiilerden
herhangi biri bir Datm karlnda geerli bir alnd belgesi verebilir,

l3. Temett Yoluyla Datmlar

irket, Ynetim Kurulunun alaca bir kaarla, Ynetim Kurulunun,

1 3.1
makul
sora ykmllkleri
erekelere dayal olaak, irketin Datmdan hemen ynetim Kurulunun
frn1riu-u veteiiigi Testini geeceine kani olmas halinde,
uygun grd tarilte ve tutada odenecek bir temett yoluyla bir Datm ilan
edebilir ve deyebilir.

|3.2 Temettler para, hisse senetleri veya sair mlkler olaak denebilir,
,de
belirtilen ekilde temett
l 3,3 ilan edilen bir temettiiniin ihbamamesi, Madde 26.1
anuyu ,u. kazanan he bi Hissedaa verilecek ve temettinin ilann izleyen 3 yl
iindl talep edilmeyen btiin temetttiler, Ynetim Kurulunun karanyla, irkete irat
kaydedilecektir.

l3.4 irket hibir temettii iin faiz demekle ykml

olmayacaktr,

14. Genel Kurul Toplantlar ve Onaylar

l4.1 Ynetim Kurulu, Hissedarlan veya herhangi bir Hissedar grubunu, Ynetim
Kurulunun uygun olarak deerlendirdii tarihlerde ve ekil de ve Man Adas
dahilindeki yerlerde Genel Kurul toplantlanna arabilir,

l4.2 Ynetim Kurulu, Genel Kurul toplantsnn gilndemini oluturan bi

aklarnrn yzde l0'una veya daha fazlas na sahip olan bir Hi
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\#,l] .Otj
 ilg578EE
Hissedarlann yazh talebi erine, Hissedarlan veya bir Hissedarlar grubunu Genel
Kurul toplantsna arabili.

14.3 Ynetim Kurulu, Hissedarlar Genel Kurulunu veya bir Hisseda grubu Genel
Kurulunu toplarken, bu toplantnn en az |4 gnlilk bildirimini, bildirim tarihinde
adlan irketin pal,defterinde kaytl olan ve Genel Kurul toplantsnda oy kullanma
hakkna sahip olan Hissedarlara verecektir.

l4.4 Ynetim Kurulu, Genel Kurul toplantsnda oy kullanma hakkna sahip Hissedarlann
belirlenmesine ynelik kayt tarihi olarak, toplan bildiriminin verildii tarihi veYa
bildirimde belirtilen ve bildirim tarihinden da nceki bir tarih olmayan dier bir
tarihi belirleyebilir.

14.5 En az |4 gnlk bir bildirim verme artna aykn olarak dzenlenen bir Hssedarlar
Genel Kurulu toplants veya bir Hissedar gn:bunun Genel Kurul toplants, toplantnn
giindemini olufuran btn konular hakknda kullanlacak tiim oy Haklrnn en az
yi,rd" 90,rno iahip oan bir Hissedann veya Hissedarlann, toplant bildiriminden
ieragat etmi olmaian halinde geerlidir ve bu amala, bir Hissedann toplantda hazr
bulunmas, o Hissedann sip-oidugu btiin Hisseler baklmndan, bir feragati tekil
edecektir.

|4.6 Ynetim Kurulunun bir toplantnn bildirimini bir Hissedaa kastsz bir kusur sonucu
vermemesi veya bir Hissedann bildirimi almam olmas, toplanty geersiz klmaz.

14.7 Bir Hissedar, bir Hissedarlar Genel Kurulu toplantsnda veya bir Hissedar grubunun
Genel kurul toplantsnda, Hissedar adna sz alabilecek ve oy kullanabilecek bir vekil
tarafndan temsil edilebilir.

14.8 Bir vekil tayin eden belge, belgede ad belirtilen kiinin oy kullanaca loplantnn
yapld tarihten nce, toplant iin belirlenen yerde hazrlanacaktr, Toplanu
6a.i-"a., vekaletnamenin ibraz edilmesi iin altematif veya ilave bir yer veya
zaman belirtilebilir,

t4.g Bir vekil tayin eden belge, aadaki mee veya divan bakannn, vekil tayin eden
Hissedarn isteklerini giregi-gibi yans$n kabul ettii dier bir rnee nemli
lde uygun olacaktr.

RKE N ADI]
Y ukar d a ad be l rt e n irketi n bir H s s dar olan ben/bizler, I B U BELGEYLE, t ]
en e n
tarihi nde ya p acak LI lS se dar ar Ge ne K urul u to p an t S1 nda e b u toplantnn erte ,i
bir toplantsnda benim,/bizim admza s Z almak o y kul anmak zere, t ] den t ]
veya onun itirak edememesi halinde, t ] d en t ] l eki fi] veki lm z o arak
TA Y N
EDYoRUM/EDiYoRUZ.

(Oy kullanmaya ilikin kstlamala buaya yazlacak)

[ ] yhnn [ ] aynn [ ] gn imzalanmtr

JtrL
ao
Hissedar a
4

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 Hg 57P 88
14.1o Hisselere ortak olarak sahip olunduu durumda aadaki hususlar tatbik edilir:

l4.10.1 ortak sahiplerden her biri, bir Hissedalar Genel Kurulu toplantsnda ahsen veya
vekaleten hazr bulunabilir ve bir Hissedar olarak sz alabiIir.

14.10.2 ortak sahiplerden ya|nzca birinin ahsen veya vekaleten hazr bulunmas halinde, o
kii, btn ortak sahipler adna oy kullanabilir ve

l4.10.3 ortak sahiplerden 2'sinin veya da fazlasnn ahsen veya vekaleten hazr bulunmas
halinde, bu kiiler bir kii olarak oy kullanmaldr.

14.1l Bir Hissedar, bir Hissedarlar Genel Kurulu toplantsnda veya bir Hissedar grubunun
Genel kurul toplantsnda, o kiinin telefonla veya dier elektronik aalarla..itirak
etmesi ve tollantya itirak ecten bttin Hissedarlarn birbirleriyle iletiim
kurabilmeleri halinde, hazr bulunmu saylacaktr,

l4.12 Bir Hissedarla Genel Kurulu veya bir Hissedarlar grubunun Genel Kurulu, toplantnn
balangcnda, toplantda kullanlma hakkna sahip olunan Oy Haklanrun
e yz.!zde
1O;una-sahip olan bir Hissedan veya Hissedalann sen oirkii olan bir Hissedar
(bir tzel
sz konusu olduunda) veya usulnce tayin edilmi bir temsilci vastasyla
hazr
kii olan bir Hisiedarco, ionusu olduunda) veya vekaleten (her bir durumda)
olur. Bir
buiunmas halinde, usulnce tekil edilmi ve yeterli ounluk salanm
tayin
nisap, ahsen (bir kii olan bir ]issedar sz konusu olduunda) veya usulnce
olduunda)
edilmij temsilci vasitasyla (bir tizel kii olan bir Hissedar sz konusu
veyavekaleten(herbirdurumda)hazrbulunantekbirHissedardanoluabilir;bu
durumda, o kii bir Hissedalar 6enel kurulu veya bir Hissedar
grubu Genel kurul
kaar alabilir ve o kii tarafndan imzalanan bir belge, o kiinin .bir. vekil olmas
durumunda, vekaletnamenin bir sureti o belgeye ilitirilmi olduu
halde, geerli bir
Genel Kurul karann tekil edecektir.

14.13 Toplant iin tayin edilen saati izleye 2 saat iinde toplant nisab_.salanamad
edilecektir; dier
takairde, topant, Hissedarlann talebi zerine tertiplenmise, iptal
gereken yerde bir. sonraki i
n"rr_gi bii durumda ise, toplantnn yaplml olmas
saatte ve
gtntndi aynr saatte r" y".d.'r"yu ynetim kurulunun belirledii dier bir
toplant iin tayin edilen
}"rd" yapl.uk zere ertelenecek ve ertelenen toplantda, olunan oy
saati izleyen bir saat iinde, o toplantda kullanlma hakkna sahip (bir
Haklanrun en az yzd,e l d,una sahip oan bir Hissedarn veya Hissedarlann_ahsen
bir temsilci
kii olan bir Hissedar sz konusu oidugunda) veya usulnce tayin edilmi
olduunda) veya vekaleten (her
vastasyla (bir tiizel .li oun bir Hisse]da sz konusu
birdurumda)t,-,.buun.u.lhalinde,hazlrbulunanlartoplantnisabntekil
edecekler, aksi durumda ise toplant iptal edilecektir,

Kurul toplantsnda,
14.14 Her Hissedarlar Genel Kurulu veya bir Hissedarlar g rubu Genel
yapacaktr. Ynetim Kurulu
Ynetim Kurulu Bakan, toplantnn divan bakanl n
hazr bulunan
Bakan yoksa veya Ynetim Kurulu Bakan toplant da hazr deilse,
seeceklerdir Hissedarlarn
Hissedarlar kendi aralarndan birini divan bakan olaak
.
sen (bir kii
herhangi bir nedenle divan bakan seem emeleri halinde, toplantda ah

JlrL
bir tem
olan bir Hissedar sz ko nusu olduunda) vey a usulnce tayin edilmi
(her bi
l kii olan bir Hissedar sz konusu olduunda) veya vekaleten
Tarslm ca
8;neep

lS1^
rEncME - T.l., (*9o 212) 256 65 62 -Fak: ( +go 2l2)256 65 63 - E,pota: itri
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 Hg378 E8
hazr bulunan en faz|a Oy Haklna sahip Hissedar, divan bakan olacak, bunun
mtmkiin olmamas durumunda ise, toplantlda ahsen (bir kii olan bir Hissedar sz
konusu olduunda) veya usultince tayin edilmi bir temsilci vasrtasyla (bir tzel kii
olan bir Hisseda sz konusu olduunda) veya vekaleten (her bir durumda) hazr
bulunan en uzun siire kaytl olan Hissedar, divan bakan olacaktr.

l 4.15 Divan bakan, Genel Kurulun onayyla, bir toplanty, bir tarihten bir tarihe ve bir
yerden dier bir yere erteleyebilir, ancak ertelenen bir toplantda, ertelemenin yapld
tir oncekitopantda bitirilmeden kalm iler dnda hibir ilem gerekletirilemez.

l4.16 yasada veya kurulu senedinde veya Ana szlemede aksi belirtilmedike,
Hissedarlar veya bir Hssedarlar grubu tarafndan, kendilerine Yasayla veya Kurulu
Senediyle veya Ana Szlemeyle verilen bir yetkinin kullanlmas,

14.16.1 bir Hissedarla Genel Kurulu veya bir Hissedarlar gubunun Genel
Kurul toplanhsnda alnan bir kaarla veya

14.16.2 Hissedarla veya Hissedarlar grubu taafndan yazl olarak onaylanan

bir kaarla

olacaktr.

14.17YasadaveyaKuruluSenedindeveyaAnaSzlemedebelirtilendayksekbir
Genel kurulu veya bir
ounluk irrt,nu tubi olmak kaydiyla, bir Hissedarlar
iiis"a-a. grubu Genel Kurul karan, o Hissedarlar Genel Kurulunda, kararla ilgili
eden bir
olarak kullailan oy Haklannln yzde 50,den fazla ounluunu temsil
Hissedar veya Hissedarlar tarafndan onaylanmas halinde, alnm olu,

l4.18BirHissedarlarGenelKurulutoplantsnda,divanbakan,teklifedilenbir.kararn
bir
Genel Kuruldan geip gemediine, kendisinin uygun olarak deerlendirdii
usulde karar vermekten irumlud]rr ve bu karann sonucu toplantda
ilan edilecek ve
toplant tutanana kaydedilecektir.

14.19BirtiizelkiiolanbirHissedar,ynetimkurulununveyadierbiridariorgann
bir Hissedarlar
karayla, uygun grd bir kiiyi, bir Hissedala Genel Kurulu veya
g-tu'cen"iru- top'*tr.rnju kendisini temsil etmesi iin yetkili klabilirzelvekii bu
adna, o Hissedann bir
ekilde ye&ili klnan,kii, temsil ettii Hissedar
olsayd kullanabilecei ayn haklan kullanma hak ve yetkisine sahip olacaktr,

14.20 Bir t.Del kii olan bir Hissedar adna bir oyun kullanld bir
toplantnn divan
divan bakannm makul
bakanl, tem;ilcinin Hissedann haklanru kullanma yetkisinin,
olarak gerekli grd kantn talep edebilir,

l4'2lYnetimKurulu,herhangibirHissedarlarGenelKurulutoplantlsnavebirHissedalar
grubunun ayn bir toplantsna katlabilir ve toplantda sz alabilir,

yaplabilecek bir
14.22 Hissedarlar vey a bir Hissedarla grubu laafndan bir toplantda
fazlasna sahip
ilem, ayn zamanda o ilemle ilgili Oy Haklannn yzde 50' sinden
grubunun bir
olan bir Hissedar veya Hi ssedarla veya bir Hissedarla
.7lrL
Taksmcaddesi.
yeleri tarafndan yazh olarak onaylanan bir karala da
(belli bir o unl

8ahelepe

TERCME - Tel.: (+90 2|2) 256 65 62 ,F aks: (+ go ?l?')256 65 63 ,E,posta: itriter@e-

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 alnacak bir kararla ilgili olarak Yasada veya Ana Szlemede belirtilen bi gereklilie
ilg578 88
tabi olmak kaydyla) - teklif edilen karann bir sureti, o karan onaylama hak ve
yetkisine sahip btiln kiilere gnderilmesi artyla - yaplabilir. Onay, her bir nsha
bir veya daha fazla sayda Hissedar tarafndan veya Hissedarlar grubunun bir veya
daha fazla yesi tarafndan imzalanm nshala formunda olabili. Onay, bir veya
daha fazla sayda nsha halindeyse ve nshalar farkl taihler tayorsa, karar, bir
Hissedarla Genel Kurulu veya bir Hissedarlar gnbu Genel Kurulu kaan almak iin
yeterli sayda oya sip olan Hissedalann veya Hissedarlar grubunun yelerinin veya
Hissedalar grubunun, karara imzal nshalarla onay verdikleri ilk taihte yrle
girecektir. Yazl bir Hissedarlar veya Hissedalar grubu kararnn, btiiJ Hissedarlann
veya Hissedarlar grubunun btiin yelerinin oybirliiyle verilmi yazl onay
dndaki bir yolla alnm olmas halinde, bu karann bir sureti, karar yi,irtirle girer
girmez, kaar onaylamayan btn Hissedalara veya Hissedarlar grubunun btn
yelerine gnderilecektir.

l5. Ynetim Kurulu

l5.1 Hissedarlar, irketin kurulu tarihini izleyen bir ay iinde, ilk Ynetim Kurulu yesi
olarak bir veya daha fazla sayda kii atayacaklar ve daha sonra Ynetim Kurulu
yeleri, Genel Kurul karanyla veya Ynetim Kurulu kararyla atanabileceklerdir.

|5.2 ynetim kuulu yelerinin asgari says bir olacak ve ynetim kurulu yelerinin
ounluunun her zaman Man Adas mukimi olmalan artyla, azarni say
olmayacaktr.

l5.3 Her bir Ynetim Kurulu yesi, Genel Kurul karanyla veya o kiiyi atayan Ynetim
Kurulu Karanyla belirlenen siire boyunca ya da o kiinin limne, istifa etmesine
veya grevden alnmasna kadar ya da o kiinin Yasann 93. maddesi tahtnda bir
Ynetim Kurulu yesi olarak hareket etmesine artk izin verilmeyene kada grev
yapacaktr. Bir Ynetim Kurulu yesinin atanmas zerine hibir sre
belirlenmediyse, o ynetim kurulu yesi lene, istifa edene veya grevden alnana
kadar veya o kiinin yasann 93. maddesi tahtnda bir ynetim kurulu uyesi olarak
hareket etmesine artk izin verilmeyinceye kadar, belisiz bir sre bolunca hizmet
eder.

15.4 Bir Ynetim Kurulu yesi,

15.4.1 Ynetim Kurulu yesinin grevden alnmas amacyla ya da Ynetim Kurulu

yesinin grevden alrnmasnn dil olduu amala iin toplanan bir
Hissedarlar Genel Kurulunda alnan bir kararla ya da bu hususla ilgili Oy
Haklarnn en az yizde 75,ine sahip olan bir Hissedar ya da Hissedarlar
tarafindan onaylanan yazl bir kararla - geriye kalan Ynetim Kurulu
yelerinin ounluunun Man Adas mukimi olmalan artyla - ya da

15.4.2 geriye kalan Ynetim Kurulu yelerinin ounluunun Man Adas mukimi
olmala aftyla, Ynetim Kurulu karanyla
.. ry"'
grevden alnabilir. "j.-

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l5.5 Bir Ynetim Kurulu yesi, ikete yazl bir istifa bildirimi vermek suretiyle
grevinden istifa edebilir ve istifa, bildirimin irket taafndan alnd taihten ya da
bildirimde belirtilen daha sonraki bir tarihten itibaren yrrle girer.

l5.6 irket, aadaki bilgileri ieren bir Ynetim Kurulu yeleri sicil defteri tutacaktr:

l5.6.1 Ynetim Kurulu yeleri olan kiilerin adlan ve i veya ikamet adresleri; u artla ki,
sicil defterinde bir Ynetim Kurulu yesinin ikamet adesi kayth deilse, irketin
kaytl temsilcisi bu adresin alr bir kaydn tutacaktr;

15.6.2 ad sicile kaydedilen her bir kiinin Ynetim Kurulu yesi olarak atand tarih ve

l5.6.3 ad bir Ynetim Kurulu yesi olarak kaydedilen her bir kiinin irketin bir Ynetim
Kurulu yesi olarak grevinin sona erdii tarih.

15.7 Ynetim Kurulu yeleri sicil defleri, Ynetim Kurulunun onaylad herhangi bir
formda tutulabilir, ancak manyetik, elektronik veya sair bir veri depolama
formundays4 irket, sicil defterinin ieriklerinin okunakl bir kantn tiretebiliyor
olmaldr.

l5.8 ynetim kurulu, bir karala, ynetim kurulu yelerinin irkete herhangi bi sfatla
verdikleri hizmetlerle ilgili huzur haklann belirleyebilir.

15.9 ynetim kurulu, bir karala, ynetim kurulu yelerinin grevlerini ifas srasnda
usulnce sarf ettikleri btiin masraflann Ynetim Kurulu yelerine deyebilir,

l5.10 Bir Ynetim Kurulu yesinin bir Hisse sahibi olmas, Ynetim Kurulu yelii iin
aranan artlardan biri deildir.

16. Ynetim Kurulunun Yetkileri

l6.1 irketin i ve faaliyetleri, Ynetim Kurulu tarafindan veya Ynetim Kurulunun

talimat veya gzetimi altnda ynetilecektir. Ynetim Kurulu, irketin i ve
faaliyetlerinin ynetimi iin ve de ynlendirilmesi ve gzetimi iin gerekli btiir
yetklere siptir. ynetim Kurulu, irketin kurulmasna hazrlk olarak ve
yasaun ya da
iurulmasyla iigili olarak sarf edilen btn masraflan deyebilir ve
Kurulu enedinin ya da Ana Szlemenin Genel Kurul tarafindan icra edilmesini
gerektirdii yetkiler dnda irketin btltiin yetkilerini kullanabilir.

16.2 Her bir ynetim Kurulu yesi, o kiinin ynetim Kurulu yesi olarak yetkilerini
doru bir ama iin kullanacak ve Yasaya, Kurulu Senedine veya Ana Szlemeye
aykr bir taizda hareket etmeyecek veya hareket edeceini irkete taahht
eimeyecektir. Her bir Ynetim Kurulu yesi, Ynetim Kurulu yesi olarak yetkilerini
kullanrken veya grevlerini ifa ederken, irketin en yksek karlanna uygun
olduuna inand bir diirstliikle ve iyi niyetle hareket edecektir.

16.3 Bir tzel ki i olan bir Ynetim Kurulu yesi, bir gerek kiiyi, kendisini
y
Kurulu toplantlannda, herhangi bi Ynetim Kurulu komitesinde veya K
toplantsnda ve onay belgesinin imzalanmasyla veya sair ilemlerl li ol

JlrL
Taism caodesl
temsil etmesi amacyla usulnce tay in edilmi temsilcisi olarak tayin ed r
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16.4 Greve devam eden Ynetim Kurulu yeleri, Kuruldaki bo yelie ramen hareket
edebilirler.

16.5 Ynetim Kurulu, irketin bor, yi.ikmlliik veya sorumluluk stlenme ve irketin
veya nc bir tarafin borlannr, ykmlliiklerini veya sorumluluklann teminat
alhna alma yetkilerini kullanabilir,

16.6 Btiin ekJer, bonolar, polieler, kambiyo senetleri ve dier ciro edilebilir kymetli
katlar ve irkete denen paralaa ait bttin alnd belgeleri, Ynetim Kurulunun
zaman z man belirledii ekilde imzalanacak, keide edilecek, kabul edilecek, ciro
edilecek veya baka bir surette dzenlenecektir.

16.7 Herhangi bir yazl szleme, senet, belge, vekaletname veya sair dokman irket
adna, netim kurulunun verdii yetkiyle haeket eden herhangi bir kii (herhangi
bir Ynetim Kurulu yesi dahil) tarafndan dzenlenebilir veya imzalanabilir.

17. Ynetim Kurulunun lemleri

|7 .| yasada veya kurulu senedinde veya Ana szlemede aksi belirtilmedike, yasayla
,eya Kuruiu Senediyle veya Ana Szlemeyle ynetim Kuruluna verilen bir yetkinin
yjnetim Kurulu tarafndan kullanlmas, bir ynetim Kurulu toplantsnda alnan veya
Ynetim Kurulu yeleri ya da Ynetim Kurulunun herhangi bir komitesi tarafndan
yazl olarak onaylanan bir kararla olacaktr.

17.2 Kurulu Senedinde veya Aa Szlemede ye alan aksine bir hkme tabi olmak
kaydya, bir Ynetim Kurulu karan bir Ynetim Kuulu toplantsnda, o karar o
toplant,au hazr bulunan ve (oy kullanma hak ve yetkisine sahip olarak) karar
hakknda oy kullanan Ynetim Kurulu yelerinin ounluu tarafndan onaylanmas
halinde alnr.

17.3 Ana szlemenin hkmlerine tabi olmak kaydyla, ynetim kurulu kendi i ve
ilemlerini uygun grd ekilde dzenleyebilir.
yazl bir
|,1.4 Herhangi bir Ynetim Kurulu yesi, dier her bir Ynetim Kurulu yesine
bildirirgndermek suretiyle, Ynetim Kurulunu toplantya arabilir,

17.5 Bir Ynetim Kurulu yesine, Ynetim Kurulu toplantlannn makul bildirimi,
herhangi bir Ynetim Kurulu yesinin bildirimde bulunulmas artndan sz konusu
toplantdan nce veya sonra feragat etmesi haricinde, yaplacaktr,

17 -6 Ynetim Kurulu veya herhangi bir Ynetim Kurulu komitesi, Ynetim Kurulunun
veyaherhangibirYnetimK-urulukomitesiningerekliveyaistenirolduunakarar
,"idigi ,u.uiurda ve ekilde ve Man Adas dahilindeki yerlerde toplanabilir.

17 .'7 Bir Ynetim Kurulu yesi, bir Ynetim Kurulu toplantsnda veya herhangi bir
veya
Ynetim Kurulu komitesi toplantsnda, o Ynetim Kurulu yesinin telefonla
Ynetim
dier elektronik aralarla itirak etmesi ve topl antya itirak eden btn
hazr lr.
Kuru lu yelerinin birbirleriyle iletiim kurabilmeleri hal inde,
3 lrt
ial19m caddel
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|7.8 Bir Ynetim Kurulu yesi, yazl bir belgeyle, bir Ynetim Kurulu yesi olmas
gerekmeyen, ancak bir Man Adas mukimi olan Ynetim Kurulu yesi sz konusu
olduunda, ayn zamanda bi Man Adas mukimi olmas gereken bir yedek ye tayin
edebilir ve bu yedek ye, kendisini tayin eden Ynetim Kurulu Uyesinin yokluunda,
sz konusu atamann sresi dolana veya atama feshedilene kadar Ynetim Kurulu
veya herhangi bir Ynetim Kurulu komitesi toplantsna katlma ve Ynetim Kurulu
yesinin yerine oy kullanma veya onay verme hak ve yetkisine sahip olacaktr.

l7.g Bir Ynetim Kurulu toplants, topantnrn balangcnda 2 Ynetim Kurulu yesinin
sen (bir kii olan bir Ynetim Kurulu yesi sz konusu olduunda) veya.sulnce
tayin edilmi bir temsilci vastasyla @ir tzel kii olan Ynetim Kurulu Uyesi sz
konusu olduunda) veya bir yedek ye vastasyla (her bir durumda) hazr bulunmas
halinde, btn amalar iin usulihce teekkl etmi ve yeterli ounluk salanm
olur.

17.10 irketin tek bir ynetim kurulu yesi varsa, ynetim kurulu toplantlanna ilikin
ynetim kurulu uyesi,
oaJ.uk bu Maddede yer alan hiikmler uygulanmaz ve bu tek
yasann, Kurulu enedinin veya Ana Szlemenin Genel Kurul tarafindan icra
edilmesini zorunlu klmad btiin hususlarda irketi temsil etmeye ve irket adna
haeket etmeye tam yetki|idir. Bir toplant tutanann yokluunda, tek _ynetim
Kurulu yesi, bir ynetim Kurulu karanru gerektiren btiin hususlann bir notunu
veya zaptru yazl olarak kaydedecek ve imzalayacaktr. Bu not veya zabt, bu karann
btn amalar iin yeterli bir kantn tekil eder.

17.11 kurul Bakannn hazr bulunduu ynetim kurulu toplantlanda, o kii toplant
bakanln yapacaktr. Kurul Bakan yoksa ya da Kurul Bakan mevcut deilse,
hazr bulunan ynetim Kurulu yeieri kendi aralanndan birini toplanh bakan olarak
seeceklerdir.

l7.12 Ynetim Krulu veya bir Ynetim Kurulu komitesi tarafndan bir toplantda
yaplabilecek herhangi bir i lem, Ynetim Kurulu yelerinin ounluu veya bir
Ynetim Kurulu komitesinin yelerinin ounlu u tarafndan yazl olarak onaylanan
bir Ynetim Kurulu veya bi r Ynetim Kurulu komitesi kaanyla da teklif edilen
kararn bir suretinin, o karan onaylama hak ve yetkisine sahip kiil ertn hepsine
ynetim
gnd erilmesi artyla - yaplabilir. Onay, her biri bir veya da fazla say da
Kurulu yesi veya bi r veya daha fazla sayda Ynet im Kurulu komitesi yesi
taafndan imzalanm o larak, nshalar halinde olabilir. Onayn bi r veya daha fazla
sayda nsha halinde olm as ve nshalann farkl tarihler tamas d urumunda, karar,
Ynetim Kurulu yelerinin veya Ynetim Kurulu komitesi yelerinin ounluunun
nshatar imzalamak suretiyle karara onay verdii en erken tarihte yiirrle
grecektir. Ynetim Kurulunun veya Ynetim Kurulu komite sinin yazl bir kararnn,
bu tn Ynetim Kurulu yelerinin veya Ynetim Kurulu komi tesinin btn yelerinin
oybirliiyle yazl onay vermesi dndaki bir yolla kabul edi lm esi halinde, bu karann
ynetim kuruu
bir sureti, karar yrrle girer girmez, karara onay vemeye n btn
yelerine veya Y netim Kurulu komitesinin yelerine gnderilece ktir

18. Komiteler " (

+

Ynetim Kurulu, her biri bir vey a daha fazla sayda Ynetim Kurulu Uyes ol
l 8.1
bir veya da fazla sayda kom te tayin edebilir ve Kae vazetme yetki
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yetkilerinden birini veya daha fazlasn komiteye devredebilir. Bu yetki devri,
Ynetim Kurulunun belirledii anlara tabi olaak yaplabilir, kendi yetkilerine paalel
olaak veya haricinde yaplabilir ve iptal edilebilir veya tadil edilebilir.

18.2 Ynetim Kurulu, aadaki yetkilerden herhangi birini bir Ynetim Kurulu komitesine
devretneetkisine sahip deildi:

l8.2.1 Kurulu Senedini veya Ana Szlemeyi tadil etme;

18.2.2 licaret siciline kaytl merkezi veya kaytl temsilciyi deitirme;
l8.2.3 Ynetim Kurulu komiteleri tayin etme;
18.2.4 bir Ynetim Kurulu komitesine yetkiler dewetme;
l8.2.5 Ynetim Kurulu yelerini atama veya grevden alma;
18.2.6 bir temsilciyi irket adna hareket etmek iizere grevlendirme veya grevden
alma;
18,2.7 Ynetim Kurulu yelerinin huzur haklann tespit etme;
l 8.2.8 bir birleme, konsolidasyon veya konkordato plann onaylama;
l 8.2.9 borlann denebilecei beyannda bulunma;
18.2.10 teklif edilen bir Datmdan hemen sona irketin Ykilmllkleri Karlama
Yeterlilii Testini getii eklinde bir tespitte bulunma ya da
18.2.1l i.keti, Man Adas dndaki bir lkenin yasalan tahtnda kurulmu bir irket
olarak devam etmeye yetkili klma.

l8.3 18.2.3 ve18.2.4 no.Iu maddeler, Ynetim Kurulu tarafndan yetkili klnan bir
ynetim kurulu komitesinin bir komite tayin etmesine veya ynetimi kuruluun
da sonaki bir kararyla, bir alt komite tayin etmesine ve komite taafindan
kullanlabilecek yetkileri bu alt komiteye devretmesine engel tekil etmez,

18.4 2 veya daha fazla sayda Ynetim Kurulu yesinden oluan her bir Ynetim Krulu
ynetim Kurulu toplants
komitesinin toplantlar ve merasimleri, Ana Szlemenin
ynetim kurulunun komitenin
merasimlerini dzenleyen hkiimlerine, bu hkmler,
kurulmasnailikinkaranndakihikmlerledeitirilmediisrece,uygun
deiiklikler yaplm saylarak, tabi olacaktr.

19. Yneticiler, Temsilciler ve Vekilter

karanyla, ticaret siciline kayth

1 9.1 irket, Genel Kurul kararyla veya Ynetim Kurulu
merkezinin yerini deitirebilir veya kayth temsilcisini deitirebilir,

19.2 Ynetim Kurulu, irketin yneticilerini, gerekli veya amaca uygun olduunu
deerlendirdii zamanlarda aiayabilir. Bu yneticiler, Kurul Bakanndan ve .zaman
zalan g".ekli veya amaca uygun olduu deerlendirilen dier yneticilerden
oluabili. Grevler, says ne olursa olsun, ayn kii tarafndan stlenilebilir,

19.3 Yneticiler, atandklan zamanda vazedilen grevleri, bu grevlerde da

Ynetim Kurulu tarafndan vazedilen bir deiiklie tabi olmak k e, ifa

edeceklerdir.

19.4BtnyneticilerincretleiYnetimKurulutarafndanbelirleneceklir.

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l9.5 irketin yneticileri, halefleri usulnce atanncaya kadar makamda kalacaklardr,
ancak Ynetim Kurulu taafindan seilen veya atanan bir ynetici, herhangi bir
zamanda, sebepli veya sebepsiz olarak, Ynetim Kurulu tarafndan grevden
alnabilir. irketin herhangi bir makamnda meydana gelen bir boluk, Ynetim
kurulu tarafndan doldunlabilir.

19.6 Ynetim Kurulu, bir Ynetim Kurulu yesi olan bir kii dahil, herhangi bir kiiyi
irketin bir temsilcisi olarak tayin edebilir. irketin bir temsilcisi, Kaeyi vazetrne
yetkisi dil, Ynetim Kurulunun, temsilciyi atayan Ynetim Kurulu kaarnda
belirtilen yetkilerine sahip olaca]<1r; ancak hibir temsilci, aadaki ilemlerin
herhangi birini onayIama yetkisine sahip deildir:

l9.6. l
Kurulu Senedini veya Ana Szlemeyi tadil etmek;
19.6.2 ticaret siciline kaytl merkezi veya kaytl temsilciyi deitirmek;
l9.6.3 Ynetim Kurulu komitelerini tayin etmek;
l9.6.4 bir Ynetim Kurulu komitesine yetkiler devretmek;
l9.6.5 Ynetim Kurulu yelerini atamak veya grevden almak;
19.6.6 irket adna haeket etmesi iin bir temsilci atamak veya bir temsilciyi
grevden almak;
l9.6.7 Ynetim Kurulu yelerinin cretlerini belirlemek;
l9.6.8 bir birleme, konsolidasyon veya konkordato plann onaylamak;
l9.6.9 borlann denebilecei beyannda bulunmak;
l9.6.10 teklif edilen bir Datmdan hemen sonra irketin Yki,imllkleri Karlama
Yeterlilii Testini geecei tespitinde bulunmak ya da
l9.6. l l irketi, Man Adas dndaki bir lkenin yasalan tahtnda kurulan bir
irket
olarak devam etmeye yetkili klmak.

l9.7 Ynetim Kurulunun bir temsilci atayan karan, temsilciyi, irket tarafindan temsilciye
verilen yetkilerin tamamn veya bir ksmn kullanacak bir veya daha fazla sayda
vekil veya delege tayin etmeye yetkili hlabilir. Ynetim Kurulu, irket tarafndan
atanan bir temsilciyi grevden alabi|ir ve o temsilciye verilen bir yetkiyi iptal edebilir
veya deitirebilir.

l9.8 irket, Yasann 86. maddesine uygun olarak dzenlenen yazl bir belgeyle, bir kiiyi
ya genel olarak, ya da belli bir konuyla ilgili olarak vekili tayin edebilir.

20. kar atmas

20J Bir Ynetim Kurulu yesi, irketle gerekletirilen veya gerekletirilecek bir
ilemde kar olduunu fark ede etmez, bu karn Kurula bildirecektir.

20-2 Madde 20.1'in amalan bakmndan, bir Ynetim Kurulu yesinin ayn zamanda
dier ad belirtilen irketin veya dier herhangi bir dzenlemenin bir orta, ynetim
kurulu yes, ynetics veya mutemedi olduu ve bildirimin tarihinden sonra irket ile
o dier irket veya kii arasnda gerekletirilecek bir ilemde kar oldu
edinilecei eklinde Kurula yaplan bir bildirim, o ilemle ilgili lib
Tahs]n ca
bildirimidir.
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20.3 Madde 20.1 gereince yaplan bir bildirim, Kuruldaki her Ynetim Kurulu yesine
yaplacak veya her Ynetim Kurulu yesinin dikkatine sunulacaktrr; u artla ki, bir
bildirim, ilemin ilk mzakere edildii Ynetim Kuulu toplantsnda yaplmas
halinde ya da, sz konusu Ynetim Kurulu yesinin o toplantr tarihi itibanyla ilemde
hir kanrn olmamasr veya bir kan olduununfarknda olmamas halinde, Ynetim
Kurulu yesinin (duruma gre) bir kar olduunun farkna varmasndan veya bir
karnn domasndan sonra yaplan ilk Ynetim Kurulu toplantsnda yaplmas
halinde bu nitelikte yaplm saylacaktr.

20.4 Madde 20.1 ild 20.3'e tabi olmak kaydyla, irketle gerekletirilen veya
gerekletirilecek bir ilemde kar olan bir Ynetim Kurulu yesi,

20.4.1 ilemle ilgili bir konuda oy kullanabilir;

20.4.2 ilemle ilgili bir konunun tartld bir Ynetim Kurulu toplanhsna katlabilir
ve toplant yeter saysnn salanmasr amacyla toplantda hazr bulunan
Ynetim Kurulu yeleri arasnda bulunabilir ve

20.4.3 irket adna bir belgeyi imzalayabilir veya Ynetim Kurulu Uyesi sfatyla,
ilemle ilgili dier herhangi bir ilemi yapabilir.

20.5 Bir Ynetim Kurulu yesinin bir kan olduunu Yasa ve Ana Szleme gereince
bildirmesi artyla, bir Ynetim Kurulu yesi, makamna bakrlmakszn,

20.5.1 irketle yaplan veya irketin sair bir surette kar sahibi olduu bir ilemin
veya dzenlemenin bir tarafi olabilir veya byle bir ilemde veya diizenlemede
sair bir surette bir kar elde edebilir;

20.5.2 irket tarafindan desteklenen veya irketin sair bir surette kar elde ettii bir
kurumun bir ynetim kurulu yesi veya sair bir yneticisi veya bir alan
olabilir veya byle bir kurumla yaplan bir ilemin veya dzenlemenin bir
taraf olabilir ve

20.5.3 makam nedeniyle, byle bir kurumun bir yneticisi veya alan olmaktan
veya kurumla yaplan bir ilemden veya dilzenlemeden veya kurumdaki bir
kanndan dolay elde ettii herhangi bir menfaat iin irkete hesap verebilir
olmayacaktr ve byle bir ilemin veya dzenlemenin yaplmasndan, byle bir
kar veya menfaat sz konusu olduu geekesiyle imtina etmek yiiktimll
domayacaktr.

2I. Tazmin Etme

21,1 irket,

21.1 .1 imdi veya gemite Ynetim Kurulu yesi olmas nedeniyle herhangi bir
yasal davaya (ukuk davas, cezai dava, idari dava vb.) veya sonturmaya talaf
olan veya taraf olmas ihtimali beliren veya

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 21.1.2 imdi veya gemite irketin talebi zerine baka bir zel kii veya bir
l{g37EE8
ortaklk, ortak giriim, trst veya sair bir kurulu iin ynetim kurulu yesi
slfattyla veya baka bi sfatla hizmet veren veya bu gibi kurulula adna
hareket eden

bir kiiyi, hukuki veya idari daValann veya adli soruturmalann sonulandnlmas iin
veya bu tr yasal ilemlerle ilgili olarak makul olarak maruz kalnan btn masraflara
(yasal cretler dahil) ve btn yarg kararlarna, para cezalarna ve denen dier
paralara kar tazmin edecektir.

21.2 Madde 21.1'deki tazmin etme ykiimll yalnzca ilgili kiinin irketin en yksek
karlarn gzeterek drst bir ekilde ve iyi niyetle hareket etmi olmas ve cezai
dava ve ilemlerde, ilgili kiinin eyleminin yasad olduunu dndrecek hibir
makul gereke bulunmamas kaydyla geerlidir.

2|.3 Ynetim Kurulunun ilgili kiinin diirst bir ekilde ve iyi niyetle ve irketin en yksek
karlann gzeterek hareket edip etmediine ve ilgili kiinin eyleminin yasad
olduunu diindiiecek herhangi bir makul gereke bulunup bulunmadna ilikin
karan, herhangi bir sahtekal* yoksa, hukuki bir sorun sz konusu olmadka, bu
Maddenin amalan bakmndan yeterlidir.

21.4 Bir yasal ilemin bir yarg karanyla, emirle, uzlamayla veya mahkmiyetle
sonul.mas, tek bana, ilgili kiinin drst bir ekilde ve iyi niyetle ve irketin en
yksek karlann gzeterek hareket etmediine veya ilgili kiinin davrannn
yasad olduunu dndrecek makul bir sebebin var olduuna delil tekil etmez.

21.5 Bir Ynetim Kurulu yesinin veya eski bir Ynetim Kurulu yesinin, bir hukuk
davasnda veya idari bir davada veya yasal bir soruturmada kendini savunmak iin
maruz kald harcamalar, Ynetim Kurulu yesi veya eski Ynetim Kurulu yesi
tarafindan vya adna, Ynetim Kurulu yesinin veya eski Ynetim Kurulu yesinin
Madde 21.1 gereince irket tarafindan tazmin edilmeye hak kazanmadnn nihai
olarak espit edilmesi halinde irket taafndan kendisine denen bedellerin geri
deneceine dair bir taahhtnamenin irkete verilmesi i.izerine, sz konusu dava veya
soruturma sonulanmadan nce irket tarafndan kendisine avans olarak denebilir.

2|,6 Bu Madde gereince masraflarn tazmin edilmesi veya avans olarak denmesi,
masraflann tazmin edilmesin veya avans olarak denmesini lalep eden kiinin, o
kiinin bir Ynetim Kurulu yesi olarak hizmet verirken hem resmi sfaiyla hareket
etmesiyle, hem de baka bir sfatla hareket etmesiyle ilgili bir anlama, Genel Kurul
karar, ynetim kurulu karan veya sair bir dzenleme tahtnda hak kazanabilecei
dier haklar ortadan kaldrmaz,

21.7 Madde 21.1'de anlan kiinin, Madde 21.1'de anlan bir yasal davay kazanmas veya
sorutumadan aklanarak kmas halinde, o kii, davayla veya soruturmayla lgili
olarak makul olarak maruz kald btiin masraflara (yasal cretler dahil) ve btiin
yarg kararlann a, para ceza|arna veya uzlama iin denen bedellere kar tazmin
edilme hakkn elde eder.

irket, imdi veya gemite irketin Ynetim Kurulu yesi, yneticisi vey
2|.8 ye
memun olan veya irketin talebi zerine baka bir kuruluun veya ortakl
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 tg57 8 E 8
giriimin, trshin veya sair bir tzel kiiliin ynetim kurulu yesi, yneticisi veya
tasfiye memuru olaak hizmet eden veya burlardan biri adna sair bir sfatla hareket
eden bir kiiyle ilgili olarak, o kiiye kar iddia edilen veya o kiinin sz konusu
sfatndan dolay maruz kald mali sorumlulua kar, irketin o kiiyi mali
sorumlulua kar Ana Szlemede ngrlen ekilde tazmin etmeye yetkili olup
olmadna baklmakszn, sigorta yaptrabilir.

21.9 Bir Ynetim Kurulu yesinin herhangi bir ihmalden, temerrtten, grevi ihmalden
veya emniyeti suiistimalden dolay kendisine kar dava alacana veya
alabileceine kani olmak iin yeterli sebebinin olduu durumda, o Ynetim Kurulu
yesi, Yasann 99(2) no'lu Maddesinin hkmleri erevesinde telafi iin
Mahiemeye bavuabilir.

21 .10 Ynetim Kurulu, irket adna ve yerine, irket menfaatine kiisel bir mali sorumlulua
maruz kalabilecek veya kalmak zerine olan bir Ynetim Kurulu yesi veya dier bir
kii lehine, irketin (imdiki ve gelecekteki) mlkleri zerinde rehinler veya ipotekler
tesis edebilir ve bu ipotekler sat yetkisini ve iizerine mutabakata vanld ekilde
dier yetkileri, taahhtleri ve hkmleri ihtiva edecektir.

22. Kaytlar

22.1 irket aadaki belgeleri irketin kayth temsilcisinin ofisinde bulunduracaktr

22.1.| sernaye taahhdnde bulunanlann her biri tarafndan imzalanm Kurulu

Senedinin ve Ana Szlemeni suretleri;
22.1.2 ortaklar sicil defteri veya o(aklar sicil defterinin bir sureti;
22.1.3 Ynetim Kurulu yeleri sicil defteri veya Ynetim Kurulu yeleri sicil
defterinin bir sweti;
22.|.4 takyidat defteri veya takyidat defterinin bir sureti;
22.1.5 son 6 ylda irket tarafndan Ticaet Siciline sunulan btiir bildirimlerin ve
dier belgelerin suretleri;
22.1.6 Yasa gereince tutulmas zorunlu olan masebe kaytlan ve
22.1.7 ortaklar sicil defterinde veya Ynetim Kurulu yeleri sicil defterinde bir ahsn
ikamet adresi kaytl deilse, o ahsn ikamet adresinin ayn bir kayd.

22.2 Ynetim Kurulu aksine kara vermedike, irket, ortaklar sicil defterinin asln ve
ynetim kurulu yeleri sicil defterinin asln kaytl temsilcisinin ofisinde
bulunduracak, ancak defterlerin veya defterlerden birinin aslnn kaytl temsilcinin
ofisinde bulundurulmadl zamanlarda, defterlerin veya defterin aslnn ayn sureti,
kaytl temsilcinin ofisinde bulundurulacaktr.

22.3 irket, kaytl temsilcinin ofisinde yalnzca ortaklar sicil defterinin bir suretini
veYa
Ynetim Kurulu yeleri sicil defterinin bir suretini bulunduruyorsa, irket,

22.3.| kaytJ temsilciye, ortaklar sicil defterinin aslnn veya Ynetim Kurulu yeleri
sicil defterinin aslnn bulund urulduu yerin veya yerlerin fi Z|
JtrL yazl bir kaydn verecek ve
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22.3.2 sicil defterlerinden her birinde herhangi bir deiiklik yaplmasn iz|eyen 14
gtin iinde, bu deiiklii yazl olarak kaytl temsilciye bildirecektir.

22.4 irket aadaki kaytlan, kaytl lemsilcisinin ofisinde veya Ynetim Kurulunun
belirledii, Man Adas dahilindeki baka bir yerde veya yerlerde bulunduracaktr:

22.4.1 Hissedarlar Genel Kurulu veya herhangi bir Hissedarlar grubu Genel Kurulu
toplant tutanaklan ve kararlar ve

22.4.2 Ynetim Kurulu ve Ynetim Kurulu komiteleri toplant tutanak]ar ve kararlan

22.5 Madde 22.4'te anlan kaytlann, irketin kaytl temsilcisinin ofisinde

bulundurulmamas halinde, irket,

22.5.1 kaytl temsilciye, bu kaytlann bulundurulduu yerin veya yerlerin fiziki

adresinin yazl bir kaydn verecek ve

22.5.1 b kaytlarn bulundurulduu yerin deitirilmesi halinde, yer deiikliini

izleyen 14 gn iinde, kaytlarn yeni yerinin fiziki adresini kaytl temsilciye
bildirecektir.

22.6 Bu Madde tahtnda irket tarafndan tutulan kaytlar yazl formda ya da, 2000 tarihli
Elektronik lemler Yasasnn gereklerine uygun olarak, tamamen ya da ksmen
elektronik kaytlar halinde olacaktr.

23. Takyidat Defteri

irket, kayth temsilcisinin ofsinde, bir takyidat defteri bulunduracak ve Yasann

136(l) no'lu maddesinin kapsamrna giren takyidatla ilgili olarak, takyidatn tesis
edildii, deitirildii veya fek edildii tarihi izleyen 1 ay iinde, sz konusu tesisin,
deiikliin veya fekkin ayrntlann, Yasada ngrlen ekilde, Mali Gzetim
Komisyonu irketler Sicil Dairesine tescil ettirilmesini salayacaktr. Kaytl
temsilcinin ofisinde bulundurulan takyidat defterinde, irket tarafindan, irketin
mlkleri zerinde tesis ettirilen her bir ipotekle, takyitle ve sair hamulelerle ilgili
aadaki ayrntllar kaydedilecektir:

23.1 takyitin tesis edildii tarih veya, bir takyit, irket tarafndan edinildii srada mlk
zerinde mevcut ise, mlkn edinildii tarih;

23.2 takyitle teminat altna ahnan borcun ksa bir aklamas;

23.3 takyidin tesis edildii mlkn ksa bir aklamas;

23.4 takyidin menfaattarnn ad ve adresi;

23.5 gvence iin bir mutemet kullanlyorsa, mutemedin ad ve adresi;

23.6 takyidin te sis edildii belgede belirtilen, irketin gelecekte bu takyi tten
bu takyitle eit srada bir takyit tesis etme yetkisi zerindeki yasan

aynntlan;
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 Hg57E ss
23,7 takyidin artlanda yapla bir deiiklik ve

23.8 bir takyidin irketin mlkiin etkilemesinin sona erip ermedii.

24. Kae

irket, Ynetim Kurulu karanyla, bir Kae kabul edebilir. Ynetim Kurulu, Kaenin
gvenJi bir ekilde saklanmasn ve Kaenin bir basksnn kayth temsilcinin ofisinde
bulundurulmasn salayacaktr. Kae, bir yazl belgeye vazedildiinde, herhangi bir
Ynetim Kurulu yesinin veya Ynetim Kurulunun zaIna; zarnan bu hususta yetkili
kld dier bir kiinin imzasyla mehut ve tasdik edilecektir.

25. Hesaplar ve Denetim

25.1 irket, irketin ilemlerini doru bir ekilde aklayan, irketin mali durumunun
herhangi bir zamanda makul bir dorulukla belirlenmesini salayacak ve mali
tablo]arn hazrlanmasna imkAn verecek gvenilir muhasebe kaytlar futacaktI.

25.2 iket, Genel Kurul karanyla, Ynetim Kurulundan mali tablolan hazrlamasn talep
edebilir. Bu mali tablola, irketin aktif ve pasiflerini kaydeden bir tablodan ve
irketin tahsilatlanru, demelerini ve dier finansal ilemlerini kaydeden bir tablodan
ve beraberinde, bu tablolarn makul bir dzeyde anlalmas iin gerekli olabilecek
notladan oluacaktr.

25.3 irket, Genel Kurul karanyla, mali tablolarn bir deneli tarafndan incelenmelerini
talep edebilir. 25.4 ile 25.8 no'lu Maddeler ya|nzca Genel Kurulun bu ekilde tatbik
edilmelerine karar vermesi durumunda tatbik edileceklerdir.

25.4 lk deneti Ynetim Kurulu tarafindan atanacaktr. Mteakip denetiler Genel Kurul
veya Ynetim Kurulu taafndan atanacakir. Bir deneti Genel Kurul tarafndan
grevden alnabilir.

25.5 Deneti, bir Hisseda olamaz ve hibir Ynetim Kurulu yesi veya dier bir ynetici,
grevini siirdiid srada irketin bi denetisi olmaya elverili olmayacaktr.

25.6 irketin denetisinin creti Ynetim Kurulu tarafindan belirlenebilir.

25.'7 Deneti, mali tablolan inceleyecek ve yazl bir raporla,

25.7.1 denetinin kanaatine gre, mali tablolarn, irket tarafndan mali tablolarn
kapsad sre iinde gerekletirilen tahsilatla, demeleri ve dier ilemleri
ve irketin sz konusu dnem sonu itibanyla aktif ve pasiflerini doru ve adil
bh ekilde yanstp yanstmadn ve

25.1.2 deneliin talep ettii btiln bilgi ve alklamalann elde edilip edi
-\o t

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 25.8
ilg37888
Her deneti, iketin muhasebe kaytlanna ve fiIerine her zaman erime hakkna
sahip olacak ve irketin Ynetim Kurulundan ve yneticilerinden, denetim
grevlerinin yerine getirilmesi iin gerekli olduunu dnd bilgi ve aklamalar
talep etme hak ve yetkisine sip olacakr.

26. Bildirimler

26.| irket tarafndan Hissedarlara verilecek bir bildirim, bilgi veya yazl beyan, her bir
Hissedarn ortaklar sicil defterinde kaytl adresinde sen tebli edilerek veya
postayla gnderilerek verilebilir.

26.2 Bir bildirimi, bilgiye veya yazh beyan ihtiva eden bir zarfin doru adrese, bedeli
denmi postayla gnderildiinin kant, bildirimin, bilginin veya yazl beyann posta
yoluyla verildiinin kesin kant olacak ve bu bi|dirim, bilgi veya yazl beyan, bunu
ihtiva eden zarfn postaya verilmesini izleyen 48 saatlik srenin dolmas zerine
verilmi saylacakr.

26.3 irkete tebli edilecek bir celp, bildirim, emir, belge, tebligat, bilgi veya yazh beyan,
bunun irketin kaytl merkezine veya kayltl temsilcisine braklmas veya taahhtl
postayla gnderilmesi suetiyle tebli edilebilir.

26.4 irkete tebli edilecek bir celbin, bildirimin, emrin, belgenin, tebligatn, bilginin veya
yazl beyann tebli edildii, celbin, bildirimin, emrin, belgenin, tebligatn, bilginin
veya yaz| beyann irketin kaytl merkezine veya kaytl temsilcisine teslim edildii
veya tebligat iin ngnilen siire iinde teslimatn normal seyrinde irketin kaytl
merkezine veya kaytl temsilcisine teslim edildii kabul edilecek ekilde zamannda
postaland ve doru adrese gnderildii ve posta cretinin dendii gsterilmek
suretiyle kantlanabilir.

27 . Son Verme

irket, Yasann 167. maddesi erevesinde, Man Adas dnda bir lkede veya
blgede devam etme izni almak iin Ticaret Siciline bavurabilir.

28. Yeniden Tesci|

irket, Yasann 143. maddesi tahtnda, Yasann l. maddesinde belirtilen baka trde
bir iket olarak yeniden tescil edilmek iin Ticaret Siciline bawrabilir. irket ancak
garanti ile snrl bir irket veya yeniden tescili zerine ihra edilmi Hisseleri
bulunmayacaksa, hissesiz snrsz bir irket olarak yeniden tescil edilebilir.

29 Birleme veya Konsolidasyon

irket, Yasann 153. maddesi erevesinde dier irketlerle birleebilir veya konsolide
edilebilir.
}

30. Dzenlemeler
}

irket, Yasann 157. maddesi erevesinde dzenlemeler yapabilir.

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3l. Gnll Tasfive

31 .l irket, Genel Kurul karanyla, irketin gnll olarak tasfiye edilmesine karar
verebili.

31,2 irket tasfiyeye giderse, tasfiye memun, bir Genel Kurul kaannn verdii izinle,
irketin valklarnn tamamn veya bir ksmru Hissedarlar arasnda fiili olarak
bltrebilir ve bu amala varlklara deer biebilir ve bltiirmenin Hissedarlar
veya farkl Hissedar gruplan arasnda nasl yaplacana karar verebilir. Tasfiye
memun, bir Genel Kurul karannn verdii izinle, varlklann tamamn veya bir
ksmn, tasfiye memurunun benzeri bir izinle beliledii ekilde, Hissedarlann
menfaatne ynelk mutemetlik anlamalar dairesinde mutemetlere emanet edebilir,
ancak hibir Hissedar, zerinde bir 1ikmllk bulunan bir varl kabul etnek
zorunda olmayacaktr.

32. Kurulu Senedinin veya Ana Szlemenin Tadili

irket, Kurulu Senedini veya Ana Szlemeyi Genel Kurul karanyla veya, Kurulu
Senedi byle bir yetki vermise, Ynetirn Kurulu kararyla tadil edebilir; ancak bir
istisna olarak, Ynetim Kurulu tarafndan,

32.| Hissedalarn Kurulu Senedini veya Ana Szlemeyi tadil etme haklann veya
yetkilerini kstlayan;

32.2 Hissedarlarn Kurulu Senedini veya Ana Szlemeyi tadil etme karar almak iin
gerekli olan Oy Hak|ar ounluunu deitiren;

32.3 Kurulu Senedinin veya Ana Szlemenin Hissedarlar tarafindan tadil edilemedii
durumlarda;

32.4 belli bi gruptaki Hisselere ait haklan veya bu Maddeyi deitiren

bir tadilat yaplamaz.

Equiom Nominees Limited adna

Iimza]

Barry Curtis Smith 1 Austos 201l

Ynetim Kurulu yesi

Takslm

T.l
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,J/rL
 ilg37888
lsLE oF MAN
coMPAN|Es AcT 2006
MEMORANDUM OF ASSOClATION

oF
BELLWAY LlMITED

A COMPANY LlM|TED BY SHARES

1. Name

The name of the Company is BELLWAY L|M|TED.

2. Type

The Company is a company limited by shares.

3. Regstered office

The address of the first registered office of the Company is First Fioor, Jubilee Buildings,
Victoria Street, Douglas, lsle of Man, lM1 2SH-

4. . Registered agent

The name of the first registered agent of the company is Equiom Trust Company
Limited.

5. Subscriber

Full name of each residential or number of shares amount each

subscriber business each subscriber subscriber agrees to
address of each agrees to take pay for each Share
subscriber

Equiom Nominees First Floor One 1.00

Limited Jubilee Buildings
victoria street
Douglas
lsle of Man
lM1 2SH

+f,
c)
2

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65 6.
 ilg57s 8s
6. Agreement of each subscriber to take shares

Each of the subscribers to the Memorandum agrees to take the number of shares
specified above-

7. Amendment of the Memorandum or the Articles

The Company may amend the Memorandum or the Articles by Resolution of

shareholdirs or by Resolution of Directors in accordance with Article 32 of the Articles of
the Company-

8. Signature and date

For the purpose of incorporating the company under the laws of the lsland each
subscriber his signed the Memorandum on the date specified against such subscriber,s
name below.

For and on behalf of

Equiom Nominees Limited

{, "|'l August 201

,l
Barry Curtis Smith
Director

JtrL
Tik!mcadc.r. 3
|hanl
ialn
isi
1,90 n \)

t
 Trki e Cumhuri eti YeV.No:(A}

T.c.
BEYoLU
36.NoTERl
Tercme edilmek zere bana verilen ngilizce dilindeki asl
(fet&opiffiks) belgeyi Trke diline tam ve doru olarak
evirdiimi beyan ederim.
BEYoLU
36.NoTERl yeminli Tercman
NAZAN KANDEMlR Necdet ITR

3 &rL
Takn] cad&r.
8ahiepa l$r
ATATRK OTO
sANAY| N.AKBAol
Tlc.MRK. No.88
MAsLAK/lsTANBUL
6.
r el : 0212-346 26 {90 2I 55

92-93 / oirek Hat:346

26
,ltrL
A
9,1
tepe Mah.- Taksim Cad.-
B)hetepe Han, No:2l, Kat:4 -
Taksirr./Beyolu - ISTANBUL
T:RCi: :D:iLl;( izERg 3 jLui,.JAtJ l;,: :sll
i=Rciij oijA T. APcsT:L !LUill:,YAi

ibu tercmenin adreste bulunan Noterliimiz

yeminli terciinan
Ve Kim lii marufumuz; Z| .01.1957
doumlu, Hamdiye Nurten ve Faysal olu Necdet ITRI
tarafndan ngiIizceden Trkeye tercme edildiini onaylanm.

ki-bin-on-bir yl Eyll aynn on-ikinci gn, 12.09.20l.I

,i#t*s

kDv. a, Damga Vergisi ve oeerli Kalt bedeti makbuz karlll tahsil edilmitir
(GL) A./s Ka=1/0. A,/S YAzl= 1/0. AJs DeK =1,/0. DYNK sf,Ka,=,200.8
 Trki e Cumhuri eti YeV,No:(A)

T.c.
BEYoLU
36-NoTERl
Tercme edilmek zere bana verilen ngilizce dilindeki asl
(fge*oeilfaJ) belgeyi Trke diline tam ve doru olarak
evirdiimi beyan ederim,
BEYoLU
36,NoTERl yeminli Tercman
NAZAN KANDEMIR Necdet lTR

.o
.7trL
IaisJm caddes.
8atreepe

ATATRK OTO IsiANBut

sANAYl N.AKBACl Tol

Tlc.MRK. No.88
MAsLAllSTANBUL

&rL
|l902| ! 5
r el : 0212-346 26
92-93 / oirek Hat346
26 91
Kocatepe Mah.- Taksim Cad.-
.L..." i

Te rc rre d ].ll e li,

ze r
ne rciin j'h-r. , ta$:oayan ep

bu yukardaki adreste bulunan No

tercmenin
yeminli tercman ve Kimlii marufumuz; 21.0|.195,7
doumlu, Hamdiye Nurten ve Faysal olu Necdet ITR
tarafndan ngilizceden Trkeye tercme edildiini onaylarm.

ki-bin-on-bir yl Eyll aynn on-ikinci gn, 12.09.20l, I

Beyolu 36. Noterlii

t.r',
36.N
B EYo Lu iB" {.
NAzAN KA

karlIll tahsit edilmitk

KDV. Har, Dam9a Vergisive De erli Kat bedelimakb uz 8
(GL) A,/s Ka= 1/0. AJs YMl 1/0 A/s DeK =1/0. oYNK. sf.Ka.=.200
 t{g57 s E8
SLE OF MAN

coMPANlEs AcT 2006

ARTlcLEs oF AsSoclATloN
oF
BELLWAY LlMTED

A COMPANY LlM|TED BY SHARES

1. Definitions and lnterpretation

1.1 ln the Articles, if not inconsistent with the subject or context -

1.1 .1 "the Act" means the Companies Act 2006 including any statutory modification or
re_.,nactment of it for the time being in operation;

1.1 .2 "Articles" means the Articles of Association of the Company as amended from
time to time;

1.1 .3 "Board" means the board of Directors;

1 .1 .4 "Chairman of the Board" shall be construed in accordance with Article 19.2;

1 ,1.5 "class" in relation to shares, means a cass of Shares each of which has
identical rights, privileges, limitations and conditions attached to it;

1.1.6 "Director" means a director of the Company;

1.1 ,7 "Distribution" means, in relation to a distribution by the Company to a

Shareholder, the direct or indirect transfer of any assets, other than Shares, to or
for the benefit of a Shareholder or the incurring of a debt to or for the benefit of a
Shareholder, in relation to Shares held by that Shareholder, and whether by
means of the purchase of an asset, the purchase, redemption or other acquisition
of Shares, a transfer or assignment of indebtedness or otherwise, and includes a
dividend;

1.,1.8 "Memorandum" means the Memorandum of Association of the company as

amended from time to time;

1.1.9 "person" includes a body corporate;

1.1.1o "Registrar" means the Registrar of Companies appointed under section 205 of
the Act;

1 ..1 .1 1 "sea|" means any seaI which has been duly adopted as the common seal of the
company;
,1
.1 .1 2 "Share" means a share issued by the company,
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'1.1.13 "shareholder" means a person whose name is entered in the register of
members of the Company as the holder of one or more Shares or fractional
Shares and each person named as a subscriber in the Memorandum until that
personls name is entered in the register of members of the Company;

1.'1.14 "Solvency Test" means the solvency test referred to in section 49 (meaning of
"solvency test" and "distibution") of the Act which the Company satisfies if it is
able to pay its debts as they become due in the normal course of the Company's
business and the value of its assets exceeds the value of its liabilities;

1.1.15 "Voting Rights" means, in relation to a resolution of the Shareholders or a

resolution of a class of Shareholders, all the rights to Vote on Such resolution
conferred on such Shareholders according to the rights attached to the Shares
held;

1.1.-l6'written" or any term of like import includes information generated, sent, received
or stored by electronic, digital, magnetic, optical, electromagnetic, biometric or
photonic means including electronic data interchange, electronic mail, telegram
telex or telecopy, and "in writlng' shall be construcd accordingly.

1.2 |n the Articles, unless the context otherwise requires -

1.2.1 a reference to -
(a) an "Article" is a reference o an article in the Articles;

(b) Voting by Shareholders is a reference to the casting of votes

attached to Shares by Shareholders;

1.2.2 words denoting any one gender include all other genders and words
denoting the singular shall include the plural and vice versa; and

1.2.3 words or phrases contained in the Articles bear the same meaning as
they do in the Act but excluding any statutory modification to such
meaning not in operation when the Articles become binding on the
Company.

l.J Headings are for ease of reference only and shall not affect the interpretation of
the Articles.

2. Share certificates

2.1 Every Shareholder is entitled to a certificate for all the shares of each Class held
by that Shareholder signed by a Director or officer of the Company, or any other
person authorised by a resotution of the Directors, or under the Seal specifying
the number of shares of such Class held by that Shareholder. Such signature or
Seal may be facsimiles.

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,,) Any Shareholder receiving a certificate shall indemnify and hold the Company
and the Directors and officers harmless from any loss or liability which it or they
may incur by reason of any wrongful or fraudulent use of such certificate or
representation made by any person by virtue of the possession of such
certificate. lf a certificate for Shares is defaced, Worn out, lost or destroyed, it
may be renewed on such terms (if any) as to evidence and indemnity and
payment of the expenses reasonably incurred by the Company in investigating
evidence as the Directors may determine (but otherwise free of charge) and, in
the case of defacement or wearing out, on delivery up of the old certificate.

3. lssue of Shares

3.1 shares may be issued and options to acquire Shares may be granted at Such
times, to such persons, for such consideration and on such terms as the
Directors may determine.

A Share may be issued with or without a par Value. A Share with a par value may
be issued in any currency. The par value of a Share with a par value may be a
fractio of the smallest denomination of the currency in which it is issued.

Shares may be numbered or unnumbered.

3-4 The company may issue fractional Shares. A fractional Share has the
corresponding racional rights, obligations and liabilities of a whole Share of the
same Class.

The Company may issue bonus shares and nil or partly paid shares.

J_o A Share may be issued for consideration in any form, including money, a
promissory note o. other written obligation to contribute money or property, real
property, ersonal property (inc|uding goodwill and know-how), services rendered
br a contact for futue services provided that no Shares may be issued for a
consideration other than money, unless the Directors have passed a resolution
-
stating

3.6.1 the amount to be credited for the issue of the Shares;

3.6,2 their determination of the reasonable present cash Value of the non-
money consideration for the issue; and

3.6.3 that, in their opinion, the present cash value of the non-money
conideration fo the issue is not less than the amount to be credited
for the issue of the shares.

3.7 The Company shall keep a register of members containing -

J-/- l the name and business or residential address of each of the
shareholders provided that if the register does not contain a
Shareholder's residential address the registered agent shall maintain
a separate record of such addressi
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 3.7.2 the number of Shares of each Class held by each Shareholder;

3.7.3 the date on which the name of each shareholder was entered in the
register ol members; and
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Jo
.The.re.gister of members may be in any such form as the Directors may approve
but, if it is in magnetic, electronic or other data storage form, the Company'must
be able to produce legible evidence of its contents.

1o A share is deemed to be issued when the name of the,shareholder is entered in

the register of members.

3.10 The Company may pay commission at such rates or in such amounts as the
Directors may determine to any person in consideration of such persons
subscribing or agreeing to subscribe, whether absolutety or conditionally for any
Shares in the Company, or procuringor agreeing to procure substriptions,
whether absolute or conditional, for any Shares in the Company.

4. Rights of Shares
4.1 Subject to any rights or restrictions attached to any Shares, each Share confers
upon the Shareholder -

4.1.1 the right to one Vote at a meeting of Shareholders or on any resolution

of the Shareholders;

4.1.2 the right to an equal share in any dividend paid by the Company; and

4.1.3 the right to an equal share in the distribution of the surplus assets of
the Company on its winding up.

4.2 The Company may issue Shares of different Classes.

4,3 lf at any time the Shares are divided into different Classes, the rights attached to
any Class may only be varied by resolution of the Shareholders of that Class
passed by a shareholder or Shareholders holding at least 75 per cent of the
Voting Rights exercised in relation thereto.

4.4 The rights conferred upon the holders of the Shares of any C|ass sha|l not,
unless otherwise expressly provided by the terms of issue of the Shares of that
Class, be deemed to be varied by the creation or issue of further Shares ranking
pan passu with such Shares.

5. Redemption of Shares

)-l The Company may purchase, redeem of otherwise acquire its own Shares for
any consideration provided that the Company continues to have at least one
shareholder at all times

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5.2 Unless Shares are expressed to be redeemable, the Company may only
purchase, redeem or otherwise acquire them pursuant to -
5.2.1 an offer to alI Shareholders which. if accepted, would leave the
relative rlghts of the Shareholders unaffected and which affords each
Shareholder a period of not less than 14 days within which to accept
the offer; or

5.2.2 an offer to one or more shareholders to which all shareholders have

consented in writing and in respect of which the Directors have
passed a resolution stating that in their opinion the transaction
benefits the remaining Shareholders and the terms of the offer are fair
and reasonable to the Company and the remaining Shareholders.

5.3 The Company may only offer to purchase, redeem or otherwise acquire Shares if
the Directors are satisfied, on reasonable grounds, that the Company will,
immediately after the purchase, redemption or other acquisition satisfy the
Solvency Test.

5.4 shares that the Company purchases, redeems or otherwise acquires pursuant to
this Article shall be cancelled.

b. Alteration of Share Capital

6.1 The Directors may alter the Company's Share capital comprising Shares with par
Value in any way and, in particu|ar but without prejudice to the generality of the
foregoing, may -

6.1.1 consolidate and divide all or any such Shares into Shares of a larger
amount,

6.1.2 redenominate all or any such Shares as Shares with a par value
denominated in another currency on such basis as the Directors see
fit; or

6.1.3 sub-divide alI or any such Shares into Shares of smaller amount.

7 Reduction of Share Capltal

The Company may, by a resolution of the Directors, reduce its share capital in
any way provided that the Directors are satisfied, on reasonable grounds, that the
Company will, immediately after such reduction, satisfy the Solvency Test.

8. Lien

8.1 The company shall (unless the Directors resolve to the contrary in respect of any
Share) have a first and paramount lien on every share (not being a fully paid
Share) for all moneys (whether presently payable or not) payable at a fixed time
or called in respect of that Share

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8.2 The Company may sell in such manner as the Directors determine any Shares
on which the Company has a lien if a sum in respect of which the lien exists is
presently payable and is not paid within'l4 days after notice has been given to
the Shareholder or to the person entitled to it in consequence of the death or
bankruptcy of the Shareholder, demanding payment and stating that if the notice
is not complied with the Shares may be sold.

-J ln order to give etfect to a sale under Article 8.2, the Directors may authorise
some person to execute an instrument of transfer of the Shares sold to, or in
accordance with the directions of, the purchaser.

8.4 The net proceeds of any sale under Article 8.2, after payment of the costs of sae,
shall be applied in payment of so much of the sum for which the lien exists as is
presently payable, and any residue shall (upon surrender to the Company for
cancellation of any certificates for the Shares sold and sub.iect to a like lien for
any moneys not presently payable as existed upon the Shares before the sale)
be paid to the person entitled to the Shares immediately prior to their sale.

8.5 The title of the transferee to any Shares sold undc, Article 8.2 shall not be
affected by any inegularity in or invalidity of the proceedings in reference to the

9. Calls on shares

9.1 subject to the terms of issue of any shares, the Directors may make calls upon
the
Shareholders in respect of any moneys unpaid on their Shares and each
Shareholder shall (subject to receiving at least 14 days'notice specifying when
and where payment is to be made) pay to the Company as required by the notice
the amount called on such shareholder's shares.

9.2 tf a call remains unpaid after |t has become due and payable, the person from
whom it is due and payable shall pay interest on the amount unpaid from the day
it became due and payable until it is paid at the rate fixed by the terms of
allotment of the share or in the notice of the call or, if no rate is fixed, at the rate
of 5 per cent per annum, but the Directors may waive payment of the interest
wholIy or in part.

The Directors may make arrangements on the issue of Shares for a difference
between the Shareholders in the amounts and times of payment of calls on their
Shares.

10- Forfeiture

10.1 shares that are not fully paid on issue are subject to the forfeiture provisions set
forth in this Article, and for this purpose, Shares issued for a promissory note,
other written obligation to contribute money or property or a contract for future
services are deemed not to be fully paid-

10.2 A written notice of forfeiture specifying the date for payment to be made shall be
served o n the Shareholder who defaults in making paJ ment in respect of the
Sha res.
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10.3 The written notice of forfeiture referred to in Article 10.2 shall name a further date
not earlier than the expiration of 'l4 days from the date of service of the notice on
or before which the payment required by the notice is to be made and shall
contain a Slatement that in the event of non-payment at or before the time named
in the notice the shares, or any of them, in respect of which payment is not
made, will be liable to be forfeited.

10.4 Where a wrtten notice of forfeiture has been issued pursuant to Article 10.3 and
the requirements of the notice have not been complied with, the D|rectors may, at
any time before tender of payment, forfeit and cancel the Shares to which the
notice relates. The forfeiture shall include all dividends or other monies payable
in respect of the forfeited Shares and not paid before the forfeiture.

'10.5 The Company is under no obligation to refund any moneys to the Shareholder
whose Shares have been cancelled pursuant to Article 10.4 and that Shareholder
shall be discharged from any further obligation to the Company.

11. Transfer of Shares

11 .1 Shares may be transferred by a written instrument of transfer signed by the

transferor and containing the name and address of the transferee, which shall be
sent to the registered agent of the company or such other person as the
Directors may from time to time appoint for registraton.

11.2 The Company shall, on receipt of an instrument of transfer comp|ying with Article
1 '1 .1 , cause the name of the transferee of the share to be entered in the register
of members unless the Directors resolve to refuse or delay the registration of the
transfer.

11.3 The Directors may not resolve to refuse or delay the transfer of a share unless
the
Shareholder has failed to pay an amount due in respect of that Share.

11.4 The transfer of a share is effective when the name of the transferee is entered on
the register of members.

1 1.5 f the Directors are Satisfied that an instrument of transfer relating to shares has
been signed but that the instrument has been lost or destroyed, the Directors
may-

1'1.5.1 accept such evidence of the transfer of Shares as they consider

appropriate; and

11.5.2 determine that the transferee's name should be entered ln the register
of members notwithstanding the absence of the instrument of transfer.

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$lg37E 88
bankruptcy of a Shareholder may, upon producing such evidence as the
Directors may reasonably require, elect either to become the registered holder of
the Share by giving notice to the Company to that effect or have some other
person registered as the transferee by executing an instrument of transfer even
though such person is not a Shareholder at the time of the transfer. Any
instrument of transfer of the Shares must be in accordance with the provisions of
Article '1 1 .'l .

12. Distributions

12.1 The Directors may authorise a Distribution by the Company to Shareholders at

such time and of such amount as they think fit if they are satisfied, on reasonable
grounds, that the Company will, immediately after the Distribution, satisfy the
Solvency Test.

12.2 Where a Distribution has been made to a Shareholder and the Company did not,
immediately after the Distribution, satisfy the Solvency Test, the Distribution (or
the value thereo0 may be recovered by the company from the Shareholder in
accordance with section 51 of the Act.

12.3 lf several persons are registered as joint holders of any Shares, any one such
person may give an effective receipt for any Distribution.

13. DiStributions by way of Dividend

,1
3.1 The Company may, by a resolution of the Directors, deciare and pay a
Distribution by way of dividend at such time and of such amount as the Directors
think fit if the Directors are satisfied, on reasonable grounds, that the Company
wilI, immediately after the Distribution, satisfy the Solvency Test.

13,2 Dividends may be paid n money, shares, or other property.

lJ J Notice of any dividend that has been declared shall be given to each Shareholder
entitled to receive the dividend as specified in Article 26.1 and all dividends
unclalmed for 3 years after having been declared may be forfeited by a resolution
of Directors for the benefit of the company.

13.4 No dividend shall bear interest aS against the Company.

14. Meetings and consents of Shareholders

14.1 The Directors may convene meetings of the Shareholders or any class of
Shareholders at such times and in such manner and places within the lsle of Man
as they consider appropriate.

14.2 Upon the written request of a Shareholder or Shareholders entitled to exercise 10

per cent or more of the Voting Rights in respect of the matter for which the
meeting is requested, the Directors shall convene a meeting of Shareholders or
class of shareholders.

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14.3 When convening a Shareholders' meeting or a meeting of a class of
Shareholders, the Directors shall give not less than 14 days' notice of such
meeting to those shareholders whose names on Jhe date the notice is given
appear as Shareholders in the register of members of the Company and who are
entitled to Vote at the meeting.

14.4 The Directors may fix, as the record date for determining those Shar'eholders that
are entitled to vote at the meeting, the date notice is given of the meeting, or
such other date as may be specified in the notice,,being a date not earlier than
the date of the notice.

14.5 A meeting of Shareholders or a class of Shareholders held in contravention ofthe

requirement to give not less than 14 days' notice is valid if a Shareholder or
Shareholders holding at least 90 per cent of the total Voting'Rights on all the
matters to be considered at the meeting have waived notice of the meeting and,
for this purpose, the presence of a Shareholder at the meeting shall constitute a
waiver in relation to all the shares which that shareholder holds.

14.6 The inadve(ent failure of the Directors to give notice of a nieeting to a

shareho|der or the fact that a shareholder has not received notice, does not
invalidate lhe meeting.

14.7 A Shareholder may be represented at a meeting of Shareholders or a class of

Shareho|ders by a prory who may speak and vote on behalf of the Shareholder.

14.8 The instrument appointing a prory shall be produced at the place designated for
the meeting before the time for holding the meeting at which the person named in
such instrument proposes to vote. The notice of the meeting may specify an
alternative or additional place or time at which the proxy shall be presented.

14.9 The instrument appointing a proxy shall be in substantially the following form or
such other form as the chairman of the meeting shall accept as properly
evidencing the wishes of the Shareholder appointing the proxy.

INAME oF CoMPANY]

|VVe being a Shareholder of the above Company HEREBY APPO|NT l of ] or t t

failing him7hert ] of t ] to be my/our proxy to speak and vote for me/us at the meeting
of Shareholders to be held on the [] day of [
] and at any adjournment thereof.

(Any restrictions on voting to be inserted here)

Signed this I l day of [ ] 20[ ]

shareholder ._, )i

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14.10 The following applies where shares are jointly owned -
14.10.1 each of the joint owners may be present in person or by proxy at a meeting of
Shareholders and may speak as a Shareholder;

14.10.2 n only one of the joint owners is present in person or by proxy, that person may
vote on beha|f of all joint owners; and

14.10.3 if 2 or more of the joint owners are present in person or by proxy, they must
Vote as one.
14.11 A Shareholder shall be deemed to be present at a Shareholders' meeting or a
meeting of a class of Shareholders if that person participates by telephone or
other electronic means and all Shareholders participating in the meeting are
able to communicate with each other.

14.12 A meeting of Shareholders or class of Shareholders is duly constituted and

quorate if, at the commencement of the meeting, there are present in person (in
the case of a Shareholder who is an individual) or by a duly appointed
re2resentative (in the case of a Shareholder who is a body corporate) or by
proxy (in either case) a Shareholder or Sharehotders holding at least 10 per
cent of the Voting Rights entitled to be exercised at the meeting. A quorum may
comprise a single Shareholder present in person (in the case of a Shareholder
who is an individual) or by duly appointed representative (in the case of a
Shareholder who is a body corporate) or by proxy (in either case) in which case
Such person may pass a resolution of the Shareholders or class of
Shareholders and a certificate signed by such person accompanied, where
such person is a proxy, by a copy of the proxy instrument, shall constitute a
valid resolution of the shareholders-
14.13 lf within 2 hours from the time appointed for the meeting a quorum is not
present, the meeting, if convened at the request of Shareholders, shall be
dissolved; in any other case, it shall stand adjourned to the next business day
in the jurisdiction in which the meeting was to have been held at the same time
and plce or to such other time and place as the Directors may determine, and
if at the adjourned meeting there are present within one hour from the time
appointed for the meeting in person (in the case of a Shareholder who is an
i;dividual) or by a duly apointed representative (in the case of a Shareholder
who is a body corporate) or by proxy (in either case) a shareholder or
Shareholders holding at least 10 per cent of the Voting Rights entitled to be
exercised at the meeting, those present shall constitute a quorum but otherwise
the meeting shall be dissolved.

14.14 At every meeting of Shareholders or class of Shareholders, the chairman of

the Board shall reside as chairman of the meeting. lf there is no Chairman of
the Board or if the Chairman of the Board is not present at the meeting, the
Shareho|ders present shall choose one of their number to be the chairman, lf
the Shareholders are unable to choose a chairman for any reason, then the

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Shareholder with the most Voting Rights present at the meeting in person (in
the case of a Shareholder who is an ndividual) or by a auly ppointeO
representative (in the case of a Shareholder who s a UoOy corporae) or Oy
proxy (in. either case) shall preside as chairman failing ;hich tne onge-t
registered Shareholder present in person (in the case of J Sharehotder wh is
an indivjdual) or by a duly appointed representative (in the case of a
Sha.reholder who is a body corporate) or by pioxy (in either case) shall take
the
chair.

14.15 The chakman may, with the consent of the meeting, adjourn any meeting from
time to time, and from place to place, but no busness shall be transaJted at
any adjourned meeting other than the business left unfinished at the meeting
from which the adjournment iook place.

14.16 Unless otherwise specified in the Act or in the Memorandum or Articles, the
exercise by the Shareholders or a class of shareholders of a power which is
given to them under the Act or the Memorandum or Articles shat ne by
-
14.16.1 a-{csolution passed at a meeting of the Shareholders c class of
Shareholders; or

14.16.2 a resolution consented to in writing by the Shareholders or class of

shareholders.

14.17 Subject to any requirement for a higher majority specified in the Act or in the
Memorandum or Articles, a resolution of the shareholders or a class of
Shareholders is passed at a meeting of such Shareholders if it is approved by a
Shareholder or Shareholders holding a majority of in excess of 50'per cen of
the Voting Rights exercised in relation thereto.

14.18 At any Shareholders' meeting, the chairman is responsible for deciding in such
manner as the chairman considers appropriate whether any resolution
proposed has been carried or not and the result of such decision shall be
announced to the meeting and recorded in the minutes of the meeting.

14.19 Any Shareholder which is a body corporate may, by resolution of its directors or
other governing body, authorise such individual as it thinks fit to act as its
representative at any meeting of Shareholders or class of Shareholders, and
the individual so authorised shall be entitled to exercise the same rights on
behalf of the Shareholder which the individual represents as that Shareholder
could exercise if it were an individual.

14.20 The chairman of any meeting at which a vote is cast on behalf of any
Shareholder which is a body corporate may call for such evidence of authority
of the representative to exercise the rights of the Shareholder as the chairman
may reasonably require.

14.21 Directors may attend and speak at any Shareholders' meeting and at any
separate meeting of a class of Shareholders.
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14.22 Any action that may be taken by the shareholders or a cass of Shareholders at
a meeting may also be taken by a resolution consented to in writing, by a
shareholder or shareholders or the member or members of a cass of
Shareholders holding in excess of 50 per cent of the Voting Rights in relation
thereto (Subject to any requirement specified in the Act or the Articles for a
resolution to be passed by a particular majority) provided that a copy of the
proposed resolution is sent to all of the persons entitled to consent to it. The
consent may be n the form of counterparts, each counterpart being signed by
one or more Shareholders or by one or more members of the class of
Shareholders. lf the consent is in one or more counterparts, and the
counterparts bear different dates, then the resolution shall take effect on the
earliest date upon which Shareholders or members of the class of
Shareholders holding a sufficient number of Votes to constitute a resolution of
Shareholders or the class of Shareholders have consented to the resotution by
signed counterparts. lf any written resolution of the Shareholders or the class of
Shareholders is adopted otherwise than by the unanimous written consent of all
Shareholders or all members of the class of Shareholders, a copy of such
resolution shall be sent to all shareholders or all the members of the class of
Sha;eholders not consenting to such resolution forthwith up-n it taking effect.
'15. Directors

15.1 The Shareholders shall appoint one or more persons as the first Directors
within one month of the date of incorporation of the company and thereafler
the Directors may be appointed by a resolution of the Shareholders or by a
resolution of the Directors.
,l
The minimum number of Directors shall be one and there shall be no maximum
.>

number provided that at all times the majority of Directors shali be resident in
the lsle of Man.
l3.J Each Director holds office for the term, if any, fixed by the resolution of
Shareholders or the resolution of the Directors appointing such person, or until
such person's ear|ier death, resignation or removal or until such person is no
longer permitted to act as a Director under section 93 of the Act. lf no term is
fixed on the appointment of a Director, the Director serves indefinitely until such
person's earlier death, resignation or removal or until such person is no longer
permltted to act as a Director under section 93 of the Act.

15.4 A Director may be removed from office by -

15.4.1 a resolution passed at a meeting of Shareholders called for the
purpose of removing the Director or for purposes including the
removal of the Director or by a written resolution consented to by a
Shareholder or Shareholders holding at least 75 per cent of the Voting
Rights in relation thereto provided that the majority of the remaining
Directors shall be resident in the lsle of Man; or

15.4.2 a resolution of the Directors provided that the majority of the

remaining Directors shall be resident in the lsle of Man.

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A Director may resign his or her office by giving written notice of resignation to
the Company and the resignation has effect from the date the notice is received
by the company or from such later date as may be specified in the notice.

15.6 The Company shall keep a register of Directors containing -

lc.o. l the names and business or residential address of the persons who are
Directors provided that if the register does not contain the residential address of
a Director, the registered agent of the company sha|l maintain a separate
record of such address;

15.6,2 the date on which each person whose name is entered in the register was
appointed as a Director; and

15.6.3 the date on which each person named as a Director ceased to be a Director of
the company.

15.7 The register of Directors may be kept in any such form as the Directors may
approve, but if ;t is in magnetic, electronic or olher data storage foi,n, the
Company must be able to produce legible evidence of its contents.

15.8 The Directors may, by resolution, fix the emoluments of Directors with respect
to services to be rendered in any capacity to the Company.
15.9 The Directors may, by resolution, pay the Directors all expenses properly
incurred by the Directors in the discharge of their duties.

15.1 0 A Director is not required to hold a Share as a qualification to office.

16. Powers of Directors

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The business and affairs of the Company shail be managed by, or under the
direction or supervision of the Directors. The Directors have all the powers
necessary for managing, and for directing and supervising, the business and
affairs of the Company. The Directors may pay all expenses incurred
preliminary to and in connection with the incorporation of the Company and
may exercise all such powers of the Company other than those required by the
Act or by the Memorandum or the Articles to be exercised by the Shareholders.

|o l Each Director shall exercise that person's powers as Director for a proper
purpose and shatl not act or a9ree to the Company acting in a manner that
contravenes the Act, the Memorandum or the Articles. Each Director, in
exercising powers or performing duties as Director, shall act honestly and in
good faith in what the Director believes to be the best interests of the
Company.

16.3 Any Director which is a body corporate may appoint any individual as its duly
appointed representative for the purpose of representing it at meetings of the
Directors, of any committee of Directors or of Shareholders and with respect to
the signing of consent or otherwise
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16.4 The contlnuing Directors may act notwithstanding any vacancy in the Board.

lo.f, The Directors may exercise all the powers of the company to incur
indebtedness, liabilities or obligations and to secure indebtedness, |iabilities or
obligations whether of the Company or of any third party.

lo.b All cheques, promissory notes, drafts, bills of exchange and other negotiable
instruments and all receipts for moneys paid to the Company shall be signed,
drawn, accepted, endorsed or otherwise executed, as the case may be, in such
manner as shall from time to lime be determined by the Directors.

16.7 Any written contract, deed, instrument, power of attorney or other document
may be made or executed on behalf of the company by any person (including
any Director) acting with the authority of the Directors.

17_ Proceedings of Directors

17 .1 Unless otherwise specified in the Act or in the Memorandum or Articles, the

exerci:e by the Directors of a power given to them unde: the Act or the
Memorandum or Articles shall be by a resolution passed at a meeting of, or
consented to in writing by, the Directors or any committee of the Directors.

17.2 Subject to any contrary provision in the Memorandum or Articles, a resolution

of Directors is passed at a meeting of the Directors if it is approved by a
majority of the Directors who are present at such meeting and (being entitled to
do so) vote thereon.
17.3 Subject to the provisions of the Articles, the Directors may regulate their
proceedings as they see fit.

17.4 Any one Director may call a meeting of the Directors by sending a written
notice to each other Director.

4,7 q,
A Director shall be given reason;ble notice of meetings of Directors save that
any Director may waive this requirement to be given notice either before or
after such meeting.

l/ o The Directors or any committee of Directors may meet at such times and in
such manneT and places within the sle of Man aS the Directors or any
committee of the Directors may determine to be necessary or desirable.

17.7 A Director is deemed to be present at a meeting of the Directors or at a

meeting of any commiftee of Directors if such Director participates by telephone
or other electronic means and all Directors participating in the meeting are able
to communicate with each other.

17.8 A Director may by a written instrument appoint an a|ternate who need not be a
Director but must in the case of an lsle of Man resident Director also be an lsle
of Man resident and the alternate shall be entitled to attend meetings of the
Directors or any committee of Directors (as appropriate) in the absence of the
Director who appointed such alternate and to vote or consent in the place of the
Director until the appointment lapses or is terminated
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17 .9 A meeting of the Directors is duly constituted and quorate for all purposes if at
the commencement of the meeting there are 2 Directors presen either in
person (in the case of a Director who is an individual) or by a duly appointed
representative (in the case of a corporate Director) or by an alternale iin either
case).

17.1o lf the Company has only one Director, the provisions contained in this Article
for meetings of the Directors do not apply and such sole Director has full power
to represent and act for the Company in all matters as are not by the Act, the
Memorandum or the Articles required to be exercised by the Shreholders. ln
|ieu of minutes of a meeting, the sole Director shall recod in writing and sign a
note or memorandum of alI matters requiring a resolution of Directors. Suh a
note or memorandum constitutes sufficient evidence of such resolution for all
purposes.

17 .11 At meetings of the Directors at which the Chairman of the Board is present,
such person shall preside as chairman of the meeting. lf there is no Chairman
of the Board or if the Chairman of the Board is not present, the Directors
present shall choosc one of their number to be chairman of the meeting.

17.12 Any action that may be taken by the Directors or a committee of Directors at a
meeting may also be taken by a resolution of Directors or a committee of
Directors consented to in writing by a majority of the Directors or by a majority
of the members of a committee of Directors provided that a opy o th
proposed resolution is sent to all of the persons entitled to consent to it. The
consent may be in the form of counterparts, each counterpart being signed by
one or more Directors or by one or more members of the committee of
Directors. lf the consent is in one or more counterparts, and the counterparts
bear different dates, then the resolution shatl take effect on the earliest date
upon which a majority of the Directors or members of the committee of
Directors has consented to the resolution by signed counterparts. lf any written
resolution of the Directors or committee of Directors is adopted otherwise than
by the unanimous written consent of all Directors or all members of the
committee of Directors, a copy of such resolution shall be sent to all Directors
or members of the commitlee of Directors not consenting to such resolution
forthwith upon it taking effect.

18. Committees

1 8.1 The Directors may designate one or more committees, each consisting of one
or more Directors, and de]egale one or more of their powers, including the
power to affix the Seal, to the committee. Any such delegation may be made
subject to any conditions the Directors may impose, may be made collaterally
with, or to the exclusion of. their own powers and may be revoked or altered.

18.2 The Directors have no power to delegate to a committee of Directors any of the
folowing powers -

18.2.1 to amend the Memorandum or the Articles;

18,2.2 to change the registered office or registered agent;
,18.2.3
to designate committees of Directors; ri1
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18.2.4 to delegate powers to a committee of Directors;
18.2.5 to appoint or remove Directors;
18.2.6 to appoint or remove an agent to act on behalf of the Company;
18.2.7 to fix emoluments of Directors;
18.2.8 10 approve a scheme of merger, consolidation or arrangement;
18.2.9 to make a declaration of solvency;
18.2.10 to make a determination that, immediately after a proposed
Distribution, the Company satisfies the Solvency Test; or
18.2.11 to authorise the Company to continue as a company incorporated
under the laws of a jurisdiction outside the lsle of Man.

lo.J Articles 18.2.3 aad 18,2.4 do not prevent a committee of Directors, where
authorised by the Directors, from appointing such committee or, by a
subsequent resolution of the Directors, from appointing a sub-committee and
delegating powers exercisable by the committee to the sub-committee.

18.4 The meetings and proceedings of each committee of Directors consisting of 2

or more Directors shall be governed mutatis mutandis by the provisions of the
Articles. regulating the proceedings of meeting of Directors so f;r as they are
not superseded by any provisions in the resolution of the Directors establishing
the committee.

19. Officers, Agents and Attorneys

19.,1 The company may by resolution of Shareholders or by resolution of Directors

change the location of its registered office or change its registered agent.

19.2 The Directors may appoint officers of the Company at such times as may be
considered necessary or expedient. Such officers may consist of a chairman of
the Board and such other officers as may from time to time be considered
necessary or expedient. Any number of offices may be held by the same
person.

19.3 The officers shall perform such duties as are prescribed at the time of their
appointment, subject to any modification in such duties as may be prescribed
subsequently by the Directors,

19.4 The emoluments of alI officers shall be fixed by the Directors.

19.5 The officers of the Company shaIl hold office until their successors are duly
appointed, but any officer elected or appointed by the Directors may be
removed at any time, with or without cause, by the Directors. Any vacancy
occurring in any office of the Company may be filled by the Directors.

19.6 The Directors may appoint any person, including a person who is a Director, to
be an agent of the Company. An agent of the Company shall have such powers
and authority of the Directors, including the power and authority to affix the
Seal, as are set forth in the Resolution of Directors appointing the agent, except
that no agent has any power or authority to approve any of the following acts-

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 19.6,1 to amend the Memorandum or the Articles; t{g57 E 8 8
19.6.2 to change the registered office or registered agent;
19.6.3 to designate committees of Directors;
,l9.6.4 to deIegate powers to a committee of Directors;
19.6.5 lo appoint or remove Directofsi
19.6.6 to appoint or remove an agent to act on behalf of the Company;
19.6.7 to fiX emoluments of Directofs:
1 9.6.8 to approve a scheme of merger, consolidation or arrangement;

1 9.6.9 to make a declaration of solvency;

19.6.10 to make a determination that, |mmediately after a proposed

Distribution, the Company satisfies the Solvency Test; or
'19.6.'1 'l to authorise the Company to continue as a company incorporated
under the laws of a jurisdiction outside the lsle of Man.

19.7 The resolution of Directors appointing an agent,may authorise the agent to

appoint one or more substitutes or delegates to exercise some or all of the
powers conferred on the agent by lhe Company. The Directors may remove an
agent appointed by the Company and may revoke or Vary a power conferred on
such agent.

19.8 The Company may, by instrument in writing execuled in accordance with

section 86 of the Act, appoint a person as its attorney either generally or in
relation to a specific matter.

20. Gonflict of lnterests

20.1 A Director shall, forthwith after becoming aware of the fact that Such Director is
interested in a transaction entered into or to be entered into by the Company,
disclose the interest to the Board.

20.2 For the purposes of Article 20.1, a disclosure to the Board to the effect that a
Director is also a member, director, officer or trustee of another named
company or any other arrangement and is to be regarded as interested in any
transaction which may, after the date of the disclosure, be entered into between
the Company and tht other company or person, is a sufficient disclosure of
interest in relation to that transaction.

20.3 A disctosure made pursuant to Article 20.1 shall be made or brought to the
attention of every Director on the Board, provided that a disclosure shall be
deemed to have been so made if it is made at the meeting of the Directors at
which the transaction was first considered or, if the Director in question was not
at the date of that meeting interested in the transaction or aware that such
Director was so interested, at the first meeting of the Directors held after the
Director became so aware or so interested (as the case may be).

20.4 Subject to Articles 20.1 to 20.3, a Director who is interested in a transaction

entered into or to be entered into by the Company may -

2o.4.1 Vote on a matter relat|ng to the transaction;

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attend a meeting of the Directors at which a matter relating to the
transaction arises and be included among the Directors present at the
meeting for the purposes of a quorum; and

201_3 si_gn documenlon-behalf of the Company, ordo anyltherlhing jn

that person's capacity as a Director, that relates to the transaction.

20.5 Provided that a Director has disclosed any interest in accordance with the Act
and the Articles, a Director, notwithstanding his or her office -
20.5.1 may be a party to, or otherwise interested in, any transaction or
arrangement with the Company or in which the Company is otherwise
interested;

20.5.2 may be a director or other officer of, or employed by, or a party to any
transaction or arrangement with, or otherwise interested in, any body
corporate promoted by the company or in which the company is
othenise !nterested; and

20.5.3 shall not by reason of his or he. office, be accountable to the

Company for any benefit which such Director derives from any such
office or employment or from any such transaction or arrangement or
from any interest in any such body corporate and no such transaction
or arrangement shall be liable to be avoided on the ground of any
such interest or benefit.

21. lndemnification

21.1 The Company shall indemnify against all expenses, including legai fees, and
against all judgments, flnes and amounts paid in settlement and reasonably
incurred in connection with legal, administrative or investigative proceedings
any person who -
21 .1.1 is or was a party or is threatened to be made a party to any
threatened, pending or completed proceedings, whether civil, criminal,
administratlve or investigative, by reason of the fact that the person is
or was a Director; or

21 .1.2 is or was, at the request of the Company, serving as a director of, or

in any other capacity is or was acting for, another body corporate or a
partnership, joint Venture, trust or other enterprise.

21.2 The indemni in Article 21.1 only applies if the person acted honestly and in
good faith with a View to the best interests of the company and, in the case of
criminal proceedings, the person had no reasonable cause to believe that the
conduct of such person was unlawful.

21.3 The decision of the DirectorS as to whether the person acted honestly and in
good faith and with a view to the best interests of the Company and as to
whether the person had no reasonable cause to believe that such person's
conduct was unlavrful is, in the absence of fraud, s e purposes of
the Articles unless a question of law is involved. I

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21 .4 The lermination of any proceedings by any judgment, order, settlement or
conviction does not, by itself, create a presumpton that the person did not act
honestly and in good faith and with a View to the best interests of the Company
or that the person had reasoDable cause to be|ieve that the conduct of such
person was unlawful.

,1 \ Expenses, including legal fees, incurred by a Director or a former Director in

defending any legal, administrative or investigative proceedings may be paid by
the Company in advance of the final disposal of such proceedings upon receipt
of an undertaking given by or on behalf of the Director or former Director to
repay the amount if it shall ultimately be determined that the Director or former
Director is not entitled to be indemnified by the Company in accordance with
Article 21 .1.

21.6 The indemnification and advancement of expenses provided by or granted

pursuant to this Article is not excusive of any other rights to which the person
seeking indemnification or advancement of expenses may be entitled under
any agreement, resolution of the Shareholders, resolution of the Directors or
otherwise, both as to actinE in the person's official capaci and as to acting in
another capacity while serving as a Director-

21.7 lf a person referred to in Article 21.1 has been successful in defence of any
proceedings referred to in Artice 21.1, thal person is entitled to be indemnified
against all expenses, including legal fees, and against all judgments, fines and
amounts paid in settlement and reasonably incurred by such person in
connection with the proceedings.

21 .8 The Company may purchase and maintain insurance in relation to any person
who is or was a Director, officer or liquidator of the Company, or who at the
request of the company is or was serving as a director, officer or liquidator of,
or in any other capacity is or was acting for, another body corporate or a
partnership, joint Venture, trust or other enterprise, against any laability asserted
against that person and incuned by that person in that capacity, whether or not
the Company has or would have had the power to indemnify the person against
the liability as provided in the Articles.

21,9 Where any Director has reason to apprehend that any claim will or might be
made against that Director in respect of any negligence, default, breach of duty
or breach of trust, such Director may apply to the Court for relief in terms of
Section 99(2) of the Act.

21.10 The Directors may execute, in the name and on behalf of the Company, in
favour of any Director or other person who may incur or be about to incur any
personal liability for the benefit of the company, such debentures or mortgages
of the Company's property (present and future) as they think fit and any such
mortgages shall contain a power of sale and such other powers, covenants and
provisions as sha]l be agreed upon.

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Records

22.1 The Company shall keep the following documents at the office of its registered
agent -
22j.1 copies of the Memorandum and the Artic|es signed by each of the
subscribers,
22.1 2 the register of members, or a copy of the register of members;
zz. l the register of Directors, or a copy of the register of Directors,
22,1 4 the register of charges, or a copy of the register of charges;
22.1 ( copies of all notices and other documents filed by the Company with
the Registrar in the previous 6 years;
any accounting records that it is required to keep underthe Act; and
22 7 if either the register of members or register of Directors does not show
a person'S residentia address, a separate record of such person's
residential address.

Unless the Directors determine otherwise, the Company shall keep the original
register of mernhers and original register of Directors at the office of its
registered agent but when the original registers or either of them are not kept at
the office of the registered agent a true copy thereof shall be kept at the office
of the registered agent.

22.3 lf the Company maintains oniy a copy of the register of members or a copy of
the register of Directors at the office of its registered agent, it shall -
22.3.1 provide the registered agent with a written record of the physical
address of the place or places at which the original register of
members or the original register of Directors is kept; and

22.3.2 within 14 days of any change to either register, notify the registered
agent in writing of the change.

22.4 The Company shall keep the following records at the office of its registered
agent or at such other place or places, within the lsle of Man, as the Directors
may determine -
22.4.1 minutes of meetings and resolutions of the Shareholders or of any
cIass of Shareholders; and

22.4.2 minutes of meetings and resolutions of the Directors and committees

of Directors.

,rq lf the records referred to in Article 22.4 are not kept at the off]ce of the
Company's registered agent, the Company shall -

22.5.1 provide the registered agent with a written record of the physical
address of the place of places at which such records are kept; and

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22.5.2 if the place at which any such records are kept is changed, provjde
the registered agent with the physical address of the new location of
the records within 14 days of the change of location.

22.6 Thrreco;ds iept uv tne Company under this Article shall be in written form or
either wholly or partly as electronic records complying with the requirements of
the Electronic Transactions Act 2000.

23. Register of Charges

The Company shall maintain at the office of its registered agent a register of
charges and shall procure that in relation to charges within the meaning of
section 'l 36(1) of the Act there shall be registered with the Financial
Supervision Commission Companies Registry within 1 month of the date of
their creation, variation or removal such particulars of the said charge, variation
or removal as shall be prescribed by the Act. ln the register of charges to be
maintained at the office of the registered agent there shall be entered the
following particulars regarding each mortgage, charge and other encumbrance
created by the Company over ;ny property of the company -

23.1 the date of creation of the charge or, if the charge is a charge existing on
property acquired by the company, the date on which the property was
acquired;

23.2 a short description of the liability secured by the charge;

zJ.5 a short description of the property charged;

the name and address of the chargee;

23.5 if there is a trustee for the security, the name and address of such trustee;

13-b details of any prohibition or restriction contained in the instrument creating the
charge on the power of the Company to create any future charge ranking in
priority to or equally with the charge;

23.7 any Variation in the terms of the charge; and

23.8 if any charge ceases to affect the property of the company.

24. Seal

A Seal may be adopted by the Company by resolutaon of the Directors. The

Directors shall provide for the safe custody of the Seal and for an imprint of it to
be kept at the office of its registered agent. The Sea, when affixed to any
written instrument, shall be witnessed and attested to by the signature
of any one Director or other person so authorised from time to time by the
Directors.

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25. Accounts and Audit

25.1 The Company shall keep reliable accounting records which correctly explain
the Company's transactions, enable the financial position of the Company to be
determined with reasonable accuracy at any time and allow financial
statements to be prepared.

15 -l The Company may by resolution of the shareholders call for the Directors to
prepare financial statements. Such financial statements shall comprise a
statement recording the assets and liabiIities of the company and a slatement
recording the receipts, payments and other financal transactions undertaken
by the Company together with such notes as may be necessary for a
reasonable understanding of such statements.

25-3 The Company may by resolution of the Shareholders call for the financial
statements to be examined by an auditor. Articles 25.4 to 25.8 only apply
where the Shareholders have resoived that they shall so apply.

25.4 The first auditor shali be appointed by the Directors. Subsequent auditors sloll
be appointed by ihe Shareholders or by the Directors. An auditor may be
removed by the Shareholders.

The auditor may not be a shareholder, and no Director or other officer shall be
eligible to be an auditor of the Company during their continuance in office.

25-6 The remuneration of the auditor of the Company may be fixed by the Directors.

25.7 The auditor shall examine the financial statements and shall state in a written
report whether or not -
25.7 .1 in the opinion of the auditor, the financial statements give a true and
fair view respectively of the receipts, payments and other transactionS
undertaken by the Company for the period covered by the flnancial
statements, and of the assets and liabilities of the Company at the
end of that period; and

25.7.2 all the information and explanations required by the auditor have been
obtained.

Every auditor shall have a right of access at all times to the accounting records
and vouchers of the Company and shall be entitled to require from the
Directors and officers of the Company such information and exp|anations as
such auditor thinks necessary for the performance of the auditor's duties.

26 Notices

26.1 Any notice, information or written statement to be given by the Company to

Shareholders may be given by personal service or by mail addressed to each
Shareholder at the address shown in the register of members.

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26.2 Proof that an enveIope containing such notice, information or written statement
was properly addressed, pre-paid and posted shall be conclusive evidence that
it was given by mail and such notice, information or written statement shall be
deemed to be given at the expiration of 48 hours after the envelope containing
it was posted.

26.3 Any summons, notce, order, document, process, information or written

statement to be served on the Company may be served by leaving by
it with, or
sending it by registered mail to, the registered office or registered agent of the
Company.

26.4 Service of any summons, notice, order, document, process, information or

written statement to be served on the Company may be proved by showing that
the summons, notice, order, document, process, information or written
statement was delivered to the registered office or the registered agent of the
Company or that it was mailed in such time as to admit to its being delivered to
the registered office or the registered agent of the Company in the normal
course of delivery within the pariod prescribed for service and was correctly
addressed and the postage was p;cpaid.

27. Discontinuance

The company may apply to the Registrar for consent to be continued in a

country or territory outside the lste of Man in accordance w|th section 167 of the
Act.

28. Re-registration

The Company may apply to the Registrar under section 143 of the Act to re-
register as a company of another pe specified in section 1 of the Act, The
Company may on|y re-register as a company limited by guarantee or an
unlimited company without shares if, upon re-registration, it shall have no
shares in issue.

29 Merger or Consolidation

The Company may merge or conso|idate with other companies in accordance

with section 153 of the Act.
30 Arrangements

The Company may make arrangements in accordance with section 157 of the
Act.

Jl Voluntary Winding Up

J1.1 The company may by a

resotution of the Shareholders resolve that the
Company be wound up voluntarily.

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31.2 lf the Company is being wound up, the liquidator may, with the sanction of a
resolution of the Shareholders, divide among the Shareholders ,n specie the
whole or any part of the assets of the Company and may, for that purpose,
value any assets and determine how the division shall be carried out as
between the shareholders or the shareholders of different classes. The
liquidator may, wth the sanction of a resolution of the shareholders, vest the
who|e or any part of the assets in trustees upon such trusts for the benefit of
the Shareholders as the liquidator wilh the like sanction determines, but no
Shareholder shall be compelled to accept any assets upon which there is a
liability.

32. Amendment of the Memorandum or Articles

The company may amend the Memorandum or the Articles by resolution of the
Shareholders or, if so authorised by the Memorandum, by resolution of the
Directors, save that no amendment may be made by the Directors -

32.1 to restrict the rights or powers of the shareholders to amend the Memorandum
or Articlesi

1a ,)
to change the majority of the Voting Rights of the Shareholders required to be
exercised to pass a resoluton to amend the Memorandum or Articles;

in circumstances where the Memorandum or Articles cannot be amended by

the Shareholders:

32.4 to vary the rights attaching lo any Shares of a particular Class; or to this Article.

For and on behalf of

Equiom Nominees Limited

Barry Curtis Smith 1't August 201 1

Director

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l Bitdirim, Toplant Yeter Says ve Toplant Bakan

Toplantnn makul bildiriminin irketin Ana Szlemesine ("Ana Szleme") uygun

olaak ynetim kurulu yelerine veildii ve fakat, irketin Ana szlemesinin l7.5
no.Iu Maddesinin, bir ynetim kurulu yesinin, toplanh ncesinde veya sonasnda
kendisine bildirimde bulunulmasr artndan feragat edebilecei not edilmitir.

Bundan baka, Aa Szleme gereince, ya 2 Ynetim Kurulu yesinden birinin ya

ynetim Kurulu yesi sz konusu olduunda) ya da usulnce
ahsen (bir kii olan bir
iuyin bir temsilci vastasyla (bir tiizel kii Ynetim Kurulu yesi sz ko.nusu
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olduuncla) hazr bulunduu. Ya da, irketin yalnlzca tek bir Ynetim Kurulu Uyesi
varsa, o tek yenin hazr bulunduu ve buna gre, toplant yeter saysnn mevcut
olduu ve ilem yapabilecei not edilmitir.

Sayn Ayan'n bu toplantnn amac bakmndan Bakan olarak atanmasna karar

verilmitir.

1 Toplantrnrn Amac

Bakan, toplantnn amacntn, irketin kuruluunun onaylanmas ve bununla ilgili

konularn ele alnmas olduunu beyan etmitir.

J. Ynetim Kurulu yelerinin karlarrnn Bildirilmesi

2006 tarihli irketler Yasasnn l04 Maddesi ("Yasa") ve Ana Szleme gereince,
.t". ,"yu irket taafndan yaplacak bir ilemde ya da toplantda grlecek
konularda ka. olan bir ynetirn Kurulu yesi, bu kann ve kannn niteliini
Ynetim Kuruluna aklamtr.

Kurula bildirilen *arlara ramen, Yasarun 103 ve l05. maddelerinin ve Ana

iozlemenin, irketle veya iiket tarafndan yaplan bir ilemde kar olan ve
bu

karlann beyn eden bir Ynetim Kurulu yesinin,

a. ilemle ilgili bir konuda oy kullanmasna;

b. ilemle ilgili bir konunun grld bir Ynetim Kurulu toplantsna
atlmasn ve toplant yeteraysnn salanmas amacyla toplantda haz
bulunan Ynetim Kurulu yeleri arasnda bulunmasna;
c. irket adna bir belge imzalamasna veya bir
Ynetim Kurulu yesi sfatyla, o
ilemle ilgili dier herhangi bir eyi yapmasna;
olan bir i leme
irketle yaplan veya irketin sair bir surette kar
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e. irket tarafndan desteklenen veya irketin sair bir surette karnn olduu bir
tzel kiiliin bir ynetim kurulu yesi veya sair bir yneticisi olmasna veya
byle bir tzel kiilik tarafndan istihdam edilmesine veya byle bir tiizel
kiilikle yaplan bir ileme veya diizenlemeye taraf olmasrna veya byle bir
ilemden veya dzenJemeden kar salamasna ve
f. makamlara nedeniyle, bir Ynetim Kurulu yesinin, byle bi makamdan veya
istihdamdan veya byle bir ilemden veya dzenlemeden veya byle bir tzel
kiilikteki herhangi bir karndan elde ettii bir menfaat iin irkete hesap
verebilir olmamasrna ve bu tiirden hibir ilem veya dzenleme yaplmasrndan,
byle bir kar veya menfaat gereince imtina edilmesinin zorunlu olmamasna
izin verdii

not edilmitir.

4. irketin Kuruluu

Ynetim Kurulu Bakan, irketin kurulduunu bildirmi ve 1 Austos 2011 tarihli,

007245V numaral Kurulu Belgesini, irketin Yasann 78. Maddesi gereince Kaytl
Temsilcinin ofisinde bulundurmak zorunda olduu Kurulu Senedinin ve Aa
Szlemenin imzal suretleriyle birlikte ibraz etmitir.

5. Ynetim Kurulu yeleri, Kaytl Temsilci, Kaytl Merkezin Adresi

Ynetim Kurulu Bakan, (Ana Szlemeyi imzalayanlann yazl kararyla atanan)

mevcut ynetim Kurulu yesinin, l Austos 2011 tarihi itibanyla ve l Austos 2011
tarihinden itibaren geerli olmak zere unlar olduunu bildirmitir:

YNETM KURULU ivrrcn

Sdkr Ayan

KAYITLI TEMSLC
Ynetim Kuulu Bakan, irketin ilk Kaytl Temsilcisinin, First Floor, Jubilee
Buildings, Victoria Street, Douglas, Isle of Man, IMl 2sH adresinde mukim Equiom
Trust Company Limited ("Kaytl Temsilci") olduunu bildirmiti,

KAYITLI MERKEZ
Ynetim Kurulu Bakan, kaytl merkezin First Floor, Jubilee Buildings, Victoria
Street, Douglas, Isle of Man, IMl 2SH adresinde mukim olduunu bildirmitir,

6. Kaenin Kabul

ynetim kurulu Bakan, bir basky buraya vazedilen ve kaytl Temsilcinin ofsinde
bulundurulacak bir kaeyi ibraz etmi olup, bu kaenin, Ana Szleme gereince
irketin kaesi olarak kabul edilmesine karar verilmitir

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1, Tahsis

iketin hisseleriyle srurl bir irket olduu not edilmi olup, Kurulu Senedi ve Ana
Szleme gereince taahhtte bulunann hissesi olan 1.00 f tutarndaki bedeli tam
olarak denmi aadaki hissenin, l Austos 201 l tarihinden itibaren geerli olmak
i.izere nakit deme karlnda tahsis edilmesine karar verilmitir:

l hisse, First Floor, Jubilee Buildings, Victoria Steet, Douglas, Isle of Man, IMl 2SH
adresinde mukim Equiom Nominees Limited'e ("Taahhtte Bulunan") tahsis
edilmitir.

Buna gre ve Yasann 33. Maddesinin ve Ana Szlemenin hkmleri gereince,

Tahtte Bulunana, Taahhtte Bulunann sahip olduu her bir Gruptaki btiin
hisseler iin, iketin bir Ynetim Kurutu yesi tarafndan Kae altnda imzalanm,
Taahhtte Bulunan sahip olduu o Gruptaki Hisse adedini belirten bir ilmhaber
dzenlenmesine kaar verilmiti. Kaenin sz konusu ilmhabere vazedilmesine ve
irketin herhangi bir Ynetim Kurulu yesinin sz konusu ilmhaberi imzalamaya
yetkili olmasna karar verilmitir.

8 Muhasebe Kayt|ar, Mali Tablolar ve Denetim

Yasanrn ve Ana Szlemenin, irketin, irketin ilemlerini doru bir ekilde

aklayan, irketin herhangi bir zamandaki mali durumunun makul bir dorulukla
tespit editmesini salayan ve mali tablolann hazlrlarmasna imkin veren gvenilir
muhasebe kaytlar tutmasn zorunlu kld not edilmitir.

Bundan baka, Tahtte Bulunanlar, Yasa ve Ana Szleme gereince, Ynetim

Kurulu yelerinin, irketin ortaklarrun daha sonraki kararna kada, irket iin mali
tablolar hazrlamalarna ve bu mali tablolann, irketin aktif ve pasiflerini kaydeden bir
beyan ve irketin tahsilatlarnl, demelerini ve sair mali ilemlerini kaydeden bir
beyan, ve ayrca, bu beyanlann makul dzeyde anlalmas iin gerekli olabilecek
notlan iermesine karar vermiledir.

tabi tutulmasnln
u an itibaryla, irketin otaklannn, mali tablolarn bir denetime
istenmesine karar vermedikleri not edilmitir.

9. Kapan

Griiitecek baka bir konu olmad iin toplant kapatlmtr.

9i.
Ynetim Kurulu Bakan
a
(r
Iimza]

Tak5.n

Ka,4
ls
n 9

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 tg37 8 7 s
MINUTES OF THE F|RST MEET|NG OF THE D|RECTORS OF BELLWAY L|M|TED (''the
Company") HELD AT
on 1't AUGUST 2o,1l

PRESENT: S Ayan (Chairman)

l. Notice, Quorum and chairman

lt was noted that reasonable notice of the meeting had been gVen to the Directors in
accordance with the Articles of Association of the company ("the Articles") and that,
notwithStanding that, Article 17.5 of the Company's Articles provided that any Director may
waive this requirement to be given notice either before or after such meeting.

lt was further noted that, in accordance with the Articles, there were either 2 Djrectors
present either in person (in the case of a Director who is an individual) or by a duly
appointed representative (in the case of a corporate Director) or by an alternate (in either
case). Or, if the Company has only one Director, the sole Director, and accordingly the
meeting was quorate and could proceed to business.

lt was resolved to appoint Mr Ayan as Chairman for the purpose of the meetjng.

2. Purpose of the Meeting

The Chairman reported that the purpose of the meeting was to acknowledge the
incorporation of the Company and deal with any matters that were incidental thereto.

3. Declaration of Directors lnterests

ln accordance with Section ,l04 of the Companies Act 2006 ('the Act") and the Articles
any Director interested in a transaction entered into or to be entered into by the Company
or the matteis to be discussed at the meeting disclosed their interest and the nature
thereof to the Board of Directors.

lt was noted that notwithstanding the interests declared to the Board (if any), Sections 103
and 'l05 of the Act and the Articles permitted a Director who is interested in a transaction
entered into or to be entered into by the Company, and who has declared such interests,
to:-

a. vote on a matter relating to the transaction;

b. attend a meeting of the Directors at which a matter relating to the transaction
arises and be included among the Directors present at the meeting for the
purposes of a quorum;
c. sign a document on behalf of the Company, or do any other thing in that person's
capacity as a Director, that relates to the transaction;
d. be a party to, or otherwise interested in, any transaction or arrangement with the
Company or in which the Company is otherwise interested;

, t,

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 Hg57 s78
e. be a director or other officer of, or employed by, or a party to any transactjon or
arrangement with, or otherwise interested in, any body corporate promoted by the
Company or in which the Company is otherwise interested; and
f. not, by reason of their office, be accountable to the Company for any benefit which
such Director derives from any such office or employment or from any such
transaction or arrangement or from any interest in any such body corporate and no
such transaction or arrangement shall be liab|e to be avoided on the ground of any
such interest or benefit.

4. lncorporatlon of the Company

The Chairman reported the incorporation of the Company and produced the Certificate of
lncorporation number 007245V dated ,t't August 2011 togelher with signed copies of the
Memorandum and Articles of Association which the Company was required to keep at the
office of its Registered Agent in accordance with Section 78 of the Act.

5. Drectors, Registered Agent, Registered office Address

The ]hairman advised that the present Director (appointed bV written resolution of the
subscribers to the Memorandum of Association) dated 1"t A.gust 2O11 and with effect
from 1"t August 2011 are:

DlREcToRs
Sidki Ayan

REGlSTERED AGENT

The Chairman advised that the first Registered Agent of the Company was Equiom Trust
Company Limited of First Floor, Jubilee Buildings, Victoria Street, Douglas, lsle of Man,
lM1 2SH ("the Registered Agent').

REG|STERED oFFlcE

The Chairman advised that the registered office was situate at First Floor, Jubilee
Buildings, Mctoria Street, Douglas, lsle of Man, lM1 2SH.

6. Adoption of Seal

The Chairman produced a seal, an impression of which is made hereon and is to be kept
at the office of the Registered Agent, and it was resolved that this seal be adopted as the
common seal of the Company in accordance with the Articles.

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 rug37 s78
7. Allotment

lt was noted that the Company was a company limited by shares and it was resolved that
the following fully paid up share of 1.00 being the subscriber share in accordance with
the Memorandum and Articles of Association, be allotted for cash with effect 1"t from
August 201 1 :

'l share allotted to Equiom Nominees Limited of First Floor, Jubilee Buildings, Vctoria
street, Dougas, lsle of Man, lM1 2sH ("the Subscribe")

Accordingly, and in accordance with the provisions of Section 33 of the Act and the
Articles it was resolved to issue to the subscriber a certificate for all the shares of each
Class held by that Subscriber signed by a Director of the Company, or under the Seal,
specifying the number of shares of such class held by that Shareholder. lt was resolved
to affix the Seal to the said certificate and that any Director of the Company be authorised
to sign the said certificate.

8. Accounting Records, Financial Statements and Audit

lt was noted that the Act and Articles required that the Company keep reliable accounting
records which correctly explain the Company's transactions, enable the {inancial position
of the Company to be determined with reasonable accuracy at any time and allow
financial statemenls to be prepared.

lt was further noted that the subscribers had resolved, in accordance with the Act and
Articles, that the Directors prepare financial statements for the Company until further
resotution of the Members of the Company and that such financial statements shall
comprise a statement recording the assets and liabilities of the Company and a statement
recording the receipts, payments and other financial transactions undertaken by the
Company together with such notes as may be necessary for a reasonable understanding
of such statements.

lt was noted that, for the time being, the Members of the Company had not resolved to
require an audit of the financial statements.

9. Close

There being no further business the meeting then closed

Chairma

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Tercme edilmek zere bana veriln ngilizce dilindeki asl
{frlrk Fi/frk+ belgeyiTrke tiiine tam ve
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BEYoLU -
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yeminli Tercman
NAZAN KANDEMR N
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ATATRK OTO isr

sANAYl N.AKBAcl Tol t]

TlA.MRK. No.88 Tel.,Fal

MASLAdSTANBUL (l00 2l2) 5551

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ki-bin-on-bir yl Eyll aynn on-ikinci gn, l2.09.20l1

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\
.eF LWAY LIMITED,IN 2 AGUSTOS 2011TARIHINDE YAPILAN
yNpriv KURULU TopLANTIS ruraNa
T : R ] -:: = ] t R

Itirak Eden S Ayan

1 2 tyffi anl

Ynetim Kurulu Bakan

Sayn Ayan'n Toplant Bakan olarak tayin edilmesine karar verilmitir.

Hisse Devri

Toplantya aadaki hisse devri mei ibraz edilmitir:

Devir Hisse Adedi ve Devir

Adedi Devreden Grubu Devralan Tarihi

l Equiom Nomiees 1 Adi Sdk Ayan 02l08l20|1

Limited

Yukandaki hisse devrinin burada onaylanmaslna ve irketin defterlerine kaydedilmesine

karar verilmitir.

Hisse Ilmhaberi

a)
' Equiom Nominees Limited adna dtizenlenmi olan 1.00 f, tutanndaki bir adet adi
hisseyi temsil eden l numaral hisse ilmiihaberinin iptal edilmesine;

b) 1.00 tutanndaki 1 adet adi hisseyi temsil eden 2 numaral hisse ilmhaberinin sayn
f
Sdk Ayan adna dzenlenmesine

karar verilrnitir.

Aynca, irketin kaesinin, yukandaki hisseyle ilgili ilmiabere vazedilmesine ve ilmhaberin

yonetim Kurulu yesi tarafndan imzalanmasna kaar verilmitir.
rketin tir

Grlecek baka bir konu kalmad iin toplantr kapatlmtr,

Ynetim Kurulu Bakan

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Mvekkil irketin Ynetim Kurulu yeleri Sicil Defteri 2 Austos 20l l

EquiomTDst companyl,imited. Sayt t

Bellway Limited

su Andaki ynetim kurulu veleri

Resmi Ad Sayn Sdk Ayan

yasal Referansl
kamet Adresi Reit Paa Cad., Mirgl Mah. Yol Sokak.
Deniz Bank st Sit. No: 29 Meslei
stinye 034450 Sarye Uyruu
stanbut Doum Tarihi
Atanma Tarihi 0l /08/l l
Notlar

nceki Adlar
soyad
n Ad

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M|NUTES OF A MEET|NG OF THE D|RECTOR OF BELLWAY L|M|TED HELD AT

oN 2No AuGUsT 2011

Present S Ayan

chairman

lt was resolved that Mr Ayan be appointed Ghairman of the Meeting.

Transfer of share

The following share transfer form was presented to the meeting:

Transfer Number and class Date -f

Number Transferor of share Transferee Transfer

1 Equiom Nominees 1 ordinary sidki Ayan 0z08l2011

Limited

lt was resolved that the above share transfer be and is hereby approved and registered in the
books of the Company.

share certificate

lt was resolved that:

a) share certificate number 1 representing one ordinary share of f1.00 in the name of
Equiom Nominees Limited be cancelled.
,l ordinary share of 1.00 in the name of Mr
b) share certificate number 2 representing
Sidki Ayan be prepared.

the
lt was further resolved that the seal of the Company be affixed to the certificate relating to
aforesaid share and that such be signed by a Director of the Company,

There being no further business the meeting closed.

*-

Cha an

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 c|ient Registor of Directo.s
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Hg57 E 2 2. Algust 2011
Page 1

cvanables

Bellway Limited

current Directors

Fo.mal Nam9 Mr sidkAyan

R9sidental Add.es3 Resit Pasa cad, Mirgul Mah. Yol sok. statutory Ref.
Deniz Bank Ust sit No: 29 occupation
lstinye 034450 sariyer NatlonaIity
lstanbul Date of Birth
Dat6 ApPolnted 01l0Bl11
Notes

Fome' Names
sunam
Folename

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Bedel Tutar: 1 sterlin JgtrRALlK 2011

iketin tam unvan: BELLWAYLIMITED

Iv{enul Deerin tam aklamas HER BiR 1 STERLIN DEERiNDE AD HSSELER
Hisse says ve futaI ile, Yaz.yl.a Rakamla
yalrilca rakam kufusunda, varsa
birim adet ve para cinsi BIR (1 biim/ 1adet)
Tescilli hissedar(la)n ad(lar) sN. (BAY) SIDKI AYAN Hesap Tanm (vasa)
tam olarak yazlacak; adres, Ad(lar)ua
yalnzca tek hissedar varsa
belirtilecektir.
Devir tescilli hissedar(lar) RET PAA CAD, MiRGL MAH, YoK SoK
tarafudan yaplmyors4 dewi DENiZ BANK ST ST No: 29
yapan kii(ler)in ad(lar)n ve STiN\T 034450 SARIYER
sfatn da (rn. cra Vasi(ler)) STANBUL
F belirtiniz
TRKiYE
J Yukarda belirtilen menkul deeri yukarda yazl
ad(lar)dan, aada adlan yazl kiiye(lere) ya do Devreden(ler) rdln harcket edn satt Aracsnn(-
N yakarda belirlilen menkul deere ilikin Arac lrnn) vey, bors ilemi nitelilnd olmyan ilemler
.E iin, vrs, Vekil(ler)in kesi.
i-r
<9
(Broker) Devir Formlarnn 2. Ksmlqrnda
belirtil en birden o,t i/iye devrediyorurn(z):
tf Boasa ilcnlari mislEsn, ik hrflclle yzln !zcllklei
iptl.diniz
tr
zllJ l
imza sahibi/sahipleri

lJ. 1 Tarih 15.|1 .2017

'F 3
J
Tzel kiiler bu devir formunu kendi kurum kaeleri
ile ya da ilgili mevzuat gerekliliklerinde ngdlen
Menkl deerlerin
baka bir ekilde dzenleyeceklerdir.
devredildii kiinin(- Hesap Tanm (varsa)
lerin)tan ad(la) ve
a rosta adres(ler)i
SN. (BAY) KAZIM zra
(L j vey4 sz
konusu ise, Posta Alan
kodu dalil)
SAiT HALM PAA CADDES
No:27 DAiRE: 5
VaIsa unvanr vera
Bay, Bayan bilgilerini
YENiKY_sARIYER
beli.liniz. sTANBUL
Daldilo hllanarak
TRKYE
yeya Kitap Hadleri ile
doldurunuz Bu devir ileminin geerli olmas iin, hisse defterine gerekti kaytlann dlmesini rica ederim(-z)
(varsa) sattn Alma Aracls(lal)nn kaesi Bu form veren kiinin kaesi veya ad ve adrcsi
(Alm Aractsndan fajkl ise)

Bu fomda geen Kaylt Memuru terimi, irkeder sicil Dairesi sicil Mdlrno dqgj! i.ketin kayt ilei memur ra davkilini
anlanaktadl.
JFL0020 / Gncelleme: 5.3 03i2008
JtrL
Tak rn caddes
ategp i

.ri

256 65 6] - E-posta: it iter@-kolay.et

JtrL
(1s0 212) 256 65 |
ITRI TERCME _ Tel.: (+90 2|7\25


{g52 5 16
_
DEviR iLEvtixiN a,ma nrrinrir,rx rix nrrR w,qnngc,
DEGER ESASLI DA]uGA !,ERcisinurN ruar oruu r-rRrnl.nA GEREKEN
oN,ysnlcnsiFoRMu
. Uymayao iptal
BenBiz bu belge ile gerekletirilen |emin, hedelin tutarnn veya deerinin ya da
tutarnn veya deerinin 1.000 sterlini at daha byk bir ilemin veya ilemler
dizisinin paras olmadn onaylam,/z.

.* oDay belgesi
Ben/Bizti, benim/bizim devreden tarafndan ibu belgeyi imzatamak zere usulne
devreden tajafmdan
veriliyors4 ikinci . uygun olarak yetkilendirildiim7_zi ve ileme ait keyfiyetinbi|gi/-izx dilinde
olduunu teyit ederim. t*
c0mleyi iptal ediniz

mza(ar) *Aklama (" Devreden", "Avukat/Hukuk

Danman " , vs.

Tarih

NoTLAR
(l) Yukardaki onay belgesi doldurulmus4 bu ilem Damga Mdrl'ne (Stamp
Office) sunulmayacak, dorudan doruya irkete veya Kayt Memurlarna
gnderilecektir.

(2) Yukardaki onay belgesi doldurulmazsa, bu devir ileminin Damga

Mdr['ne sunularak usulnce damgalatlmas gerekir.

JFL0018 / Giincelleme: 5.3 03i2008

*la!.l f $

,rL
Taksmcaddesi a
Baleepe
Ka!,1

!
AN

Tel F ''o a
6t
o,ti
(,90 2] 56 65

,JlrL ITR TERCME - TeL: (+90 2l2\ 256 6s 62 - Faks: (+90 2l2) 65 63 - E-posta: itritef@e_kolay.nct
 ,R
}lg52 516
_,RM
(Above this line fo. R.gistrars only)

J30
c.rtificate lod8cd wi the Rcgin.ar

ns by ! R.gl!rrrltoc

BELLWAY LlMlTED

oRD|NARY sHAREs oF t1.00 EACH

wo.ds Figures
oNE

(1 unitsof 1 )

In lhe nam.(s) of Accounl Designalion (il' an!, )i

MR slDKl AYAN l
-_J
REslT PASA cAD, M|RGUL MAH, YoK SoK
DENlz BANK UST slT No] 29
,*TlNYE 034450 sARlYER
lsTANBUL
TURKEY

tllJJ
[^ye h.eby t ansf.r h. above sccuriry out ofthe name(s) aforcsaid to e person(s)
sl,mp.as.llin are..(9} o., lo. lrn jJdio., *hi.h.r.
named belo or lo lr,e Jeyerul percos an.t in Pa s 2 or Broke Tnnspr Foms rol n..(.r.hr.3. l..n!,.i.nl. o' A9.ntJ). if .nr, .tini
relain o he abov s.cvir:

z
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D.ki.*ord! in i.licJ.r..Pt tolro.k.lch.ng.tr.$.ctioE.
sgnature(s) of
9
o
l
a 2

l ].,
J ,l 1511112011
o_ Dale
A body corPorlle should execule is lransferunder is common seal orolherwse in
accordance with apPicabl. stalutory requiremnts

Account Designation {i i;;ii--l

plicablc. Pon.lDis- MR KAS|lv ozTAS
Pcrson(s) lo whom ih.
s..unlyi3 iranslcf.d.
SA|T HAL|M PASA cADDEs l

NO: 27 DA|RE:5
j!i.s. o.lvlils.
YENlKoY_sARIYER
lSTANBUL
Bloct capital3
TURKEY

yw lequcst tba! sucb nics be mad. in the r.8isler a5 arc nec.ssary to 8ivc cffec!lo this transfer

slsp ol nffi. $d !ddE$ ofp{bi lodng

shp olBuying aro!.:(r(if sr) l,rd.ldD . s@n{ B6L.(l))

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+

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gislrar in tbis form means the rtislrar ol regisralion agent o istrar ofcompanies at companies House
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ViRFoRMU Atat
,.

Bedel Tuta: 1 sterlin 1 9 ARALIK 201,1

irketin tam unvan: BELLWAY LIMITED

Menkul Deerin tam aklamas HER BiRI 1 STERLiN DEERINDE AD HSSELER
Hisse says ve tutan ile, Yazy|a Rakamla
yalilca rakam kutusunda, varsa
birim adet ve para cinsi
BIR (1 birim / l adet)

Tescilli hissedar(lar)n ad(lar) SN. (BAY) SIDKI AYAN Hesap Tanm (varsa)
tam olarak yazlacak; adres, Ad(lar)na
yalnzca tek hissedar varsa
belirtilecektir.
Devir tescilli hissedar(lar)
REiT PAA CAD, MRGL MAH, YoK SoK
talafidan yaplmyorsa, dewi DEMZ BANK ST siT No: 29
yapan kii(ler)in ad(lar)u ve STNYE 034450 SARIYER
z sfat.r da (rn. cra Vasi(ler))
belirtiniz
STANBUL
TRKiYE
.,s Yukarda belirtilen menkul deeri yukarda yazl
ad(lar)dan, aada adlan yazl kiiye(lere) ya da Dovrden(te.) adnr hreket edn satl Aractslntn(-
N yukarda belirtilen menkul deere ilikin Arac lartnn) yy, bora ilemi niteliinde olmayan ilemler
,=_
(Broker) Devir Formlqrnn 2. Ksmlarnda iin, vrsa, vekil(lcr)in kaesi.
>l
<9

belirlilen birden ot tiye dewediyorum(z):
Bors il.mltri mlItesns, oik hrflcrlt yzlln szcllkleri
:) iptl .diniL
@
zJ l...............
mza sahibi/sahipleri

l! Tarih 15.|1.2011
F 2...............
....,.
J 3 . ... .. ...

Ttlzel kiiler bu devir formunu kendi kurum kaeleri

ile ya da ilgili mevzuat gereklilikleinde ngrtllen
baka bir ekilde dzen
Menkul deerlerin
devredildii kiinin(- HesaP Tanlm (varsa)
le.in)tam ad(lar) ve
a ]osta ad.es(|er)i
sN. (BAY) KAZIM zra
(L__ .r vey4 sz
konusu ise, Posta Alan
kodu dil)
SAiT HALM PAA CADDESi
No:27 DARE: 5
vasa varu veya
Bay, Bayan bilgilerini
YENiKY_SARIYER
belirtiniz. sTANBUL
Daktilo kullanaak
TRKiYE
veya Kitap Harfleri ile
doldurunz. Bu devir ileminin geerli olmas i in, hisse defterine gerekli kayttaru dlmesini rica ederim(,z)
(varsa) satn A.Ima fuacll(Ja)lnm kaesi Br formu veren kiinin kaesi veya ad Ye adresi
(Alm Aacsndan fa*l ise)

sicil Daiesi sicil Mdurn dgi!, ifketin kayt ileri memur ya davekilini
Bu formda geen Kayt Mmu.u terimi, irkeder
anlatnaktadlr.
JFL0020 / GnceUeme: 5.3 03/200E

Ta(s m
e6
Kal 1

fel

(190 212) 65 6,1

TERCME - Tel,: (+90 2t2) 2 256 65 6] - E-posta: ititer@e-ko lay.net

,VlrL
 ,,,?

l{952 5 16
DEviR iLEixix ama nr.inrir,nx rix Bn wnnvc
DEER EsASu DAMGA }TRGisiNDEN MUAF olDuu onr.,p:oA GEREKEN
owAv srlcrsi FoRMU
i Uymayan iptal
Ben/Biz*, ibu belge ile gerekletirilen ilemin, bedelin tutarnn veya deerinin ya da
ediniz
tutannn veya deerinin 1.000 stelini at daha byk bir ilemin veya ilemler
dizisinin paras olmadn onaylarm/z.

i onay begesi Ben/Bizt+, benim/bizim devreden tarafndan ibu belgeyi imzalamak zere usulne
devreden taraf|ndar
veriliyors4 ikinci . uygun olarak yetkilendirildiimi/-zi ve ileme ait keyfiyetin bilgim/-iz* dahilinde
cmleyi iptal ediniz
olduunu teyit ederim. **

mza(ar) +Aklama (" Devreden ", " Avukal/Hukuk

Danman", vs.

Tarih

NoTLAR
(l) Yukardaki onay belgesi doldurulmusa, bu ilern Damga Mdrl'ne (Stamp
Office) sunulmayacak, dorudan doruya irkete veya Kayt Memurlarna
gnderilecektir.

(2) Yukardaki onay belgesi doldurulmazsa, bu devir ileminin Damga

Mdrl'ne sunularak usu[nce damgalatlmas gerekir.

JFL00l8 / Gtncelleme: 5.3 03/2008

a!
* j.. {^,
JtrL
Tak9m caddsi.
+

gahelep

T o l!
olt
21 656.1
{l90

ITRi TERCME - Te,: (+9o 212\256 65 6x - Faks: (+90 2l2) 2 65 63 - E-postai ilriter@e-kolay.net
 7
.,R lg52 5 1 6
-,RIu
(Abovc this line fo. R.gisirars ony)

J30
certificate lodged with the Rcgistrar

e
1 /slock Ec

BELLWAY LlMlTED

oRDlNARY sHAREs oF 1.00 EAcH

wolds Fi8ures
oNE

(1 unitsof 1 )

In the name(s) of Accoun! Designation (if ay)

MR SlDKl AYAN

REslT PASA cAD, MIRGUL MAH, YoK oK

DEN|Z BANK UST lT NO: 29
,-,TlNYE 034450 SARlYER
lsTANBUL
TURKEY
;
t
L4Ve hereby ansf.r the abovc 5curity out oflhe nam(s) aforesaid o the person()
sirnp ors.li.! o*.r{' o.,lor r.nJ..ioB hirh r..
name,lbelow or lo lhe,eyeral petons nani in Por 2 o/Broers Trans/er Forns ot no..r(.!. lr.nr..lioN. oa A!..(r, if .nr..cli.g
lJ rclain o he above securi!:
I
z
(9
D.l.t.tordri. ilrli.J.r..Pt fo.!lo..rci.ng. tr..!.ctioi.
si8nature(s) of

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2
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Dale
15hln011
A body co.porale should execute is kanst!. under i common seal orother,ise in
accoldance with apPlicabIe s!atutory (equiremens

Account Designation (f any)

plicablc. Postal Dis- /lR KAS|l\il OZTAS
Pc.sonG) o whon h.

SAIT HAL|M PASA CADDES l

NO: 27 DAIRE:5
YENlKoY-sARlYER
lsTANBUL
Bloct c!pnal3,
TuRKEY

L^vc lequcst that such entri.s b made in the re8ister as afc necessary to 8iva.ffct to this 'ansfer

sl6p o' if.,d !dd,4s ofP.6on lod$ng

slmp oluying s.ol.:i!) (iay) (lf o.. 4 . Buyng Blol.ll) )

JtrL
+

q
Baheepe

gistrar in lhis fcim mcans he registrar or rcgistration agent star ofcompanies a Compani.s House
v 5.3
( 19D 2 256 65

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Akbac 9 ARAL|K 201,|
o: 24B Masiak 80670
,i*r, l , (o2 z; 346 26 91-92,93 Fax: 346
26 94
Reit Paa Cad. Mirgl Mah. Yol Sok.
Deniz Bank Ust Sit No 29
stinye 034450 Saryer
Trkiye

l5 Kasm 20l l

The Registered Agent (Tescilli Vekil)

Bellway Limited
First Floor
Jubilee Buildings
victoria sneet
Douglas IMl 2SH
Isle of Man (Man Adas)

itgi: Bellwav Limited

Sayn lgili,

Yukarda belirtilen irketin Ynetim Kurulu yeliinden l5 Kasm 20l l tarihinden geerli
olmak zere istifa ettiimi belirtir ve irket nezdinde gemi ya da gncel hibir hak
talebimin bulnmadn beyan ederim.

Sayglanmla,

Imza,.
Sn.(Ba9 Sdk Ayan

nT q +

JtrL
T;ikgm caddesi.
J'J
" t,}
aheiepe ihan
Kal1

To! 1g0
Tel, F

(r90

trL ITRI TERCME - Tel.i (+9o 2|2)256 65 62 - Faksl (+90 212) 256 65 63 , E-posra: ititer@.-kolay-net
 ilg52 521
Resit Pasa Cad, Mirgul Mah. Yol Sok.
Deniz Bank Ust slt No: 29
lstinye 034450 sariyer
Iurkey

1 5th November 201 1

The Registered Agent

Bellway Limited
First Floor, Jubilee Buildings
victoria street
Douglas
lM1 2SH
lsle of Man

.; Dear Sir

Re: Bellwav Limited

l hereby tender my resignation from the office of Director of the above mentioned company with
effect from 15th November 2011 and hereby declare that l have no past or present claims
against the company.

Yours faithfully

Mr Sidki A n

rr
{

!

t.
N 0

Bahiepe

iel

JlrL
(,9c 256 65
 Resit Pasa Cad, Mirgul Mah. Yol Sok.
Deniz Bank Ust Sit No: 29
lstinye O34450 Sariyer
Turkey

1sth November 201 1

The Registered Agent

Bellway Limited
First Floor, Jubilee Buildings
victoria street
Douglas
ll\i|,1 2sH
lsle of Man

Dear Sir

Re: ellwav Li ited

l hereby tender my resignation from the office of Director

of the above mentioned company with
effect from 15th November 2011 and hereby declare that lnave no past
or present claims
against the company.

Yours faithfully

Mr Sidki A n
 client Regste. of Di.ecto6
28 November 201.1
Eqliom T.ust company Limjled
Page 1

Bellway Limited
current Directors

Folmal Name Mr kasim oztas

Residential Address sait Halim pasa caddes i statutory Ref.
No: 27 Daire:5 occupation Management
Yenikoy_Sariyer Nationa!ity
Turkey Date of Bidh 15/05l82
oate Appointed 15111l11
Notes

Foamel Names
sumame
Forename

Former Directors

Fo,mal Name Mr sidkiAyan

Residential Address Resit Pasa cad, Mirgul Mah, Yol sok.
Deniz Bank Ut sit No:29 occupation oil lndusty
lstinye 034450 sariyer Nationa'ity Turkish
Turkey Date of Birth 01/01/63
oate Appointed 01/08/11
Date Reigned 15l11l11
Notes

Formel Names
sumame
Forename
 MINUTES OF A MEET|NG OF THE D|RECTOR OF BELLWAY LlM|TED
HELD AT
oN 1sTH NoVEMBER 2o11

Present K oztas

Chairman

lt was resolved that Mr oas be appointed Chairman of the Meeting.

Transfer of share

The fo|lowing share transfer form was presented to the meeting:

Transfer Number and class Date of

Number Transferor of Share Transferee Transfer
2 Sikki Ayan 1 ordinary kasim oztas 1511112011

lt was resolved that the above share transfer be and is hereby approved
and registered in the
books of the Company.

share certificate

lt was resolved that:

a) share certificate number 2 representing one ordinary share of 1 .00 in the name of sidki
Ayan be cancelled.

b) share certificate number 3 representing ,1

ordinary share of 1.00 in the name of Mr
Kasim Oztas be prepared.

lt was further resolved that the seal of the Company be affixed

to the certificate reating to the
aforesaid share and that such be signed by a Director ofthe Company.

There being no further business the meeting closed.

Chairman
 FORM OF CERTIFICATE REQUIRED WHERD TRANSFER IS EXEMPT FROll{
AD VALOREM STAMP DUTY AS BELOW THRESIIOLD

I/we * certiry that

the transaction effecred by his instrument does not fom part ofa larger transaction or
series of tansactions in especl ofrvhich the amount or value, or aggregate amount or value, ofthe
onsidration exceeds r1,00o.

LAve * confirm that vwe * have been duly authorised by the transferor
to sign this certificate and that the
fats ofthe transaction are within my/our * knowledge. +*

Signature(s) *
Descripion: ( " Trasjefu r'', "So l icior'', etc)

Date

NoTtrS

() [fthe above cenificate has been comnIeted, this transfe does not need
to be submitted to the stamp
office bu shouId be sent directly to he Company or its Registrars.

(2) Ifthe above cetifiate is not complted, this transfe must bt submifted to the
stamp office and
duly stanped.

18/ReV53
 Arf

_!
Trki e Cumhuri eti Yev.No:

T.c.
BEYoLU
36.NoTERl
Tercme edilmek zere bana verilen ngilizce dilindeki asl
(fotokopiifaks) belgeyi Trke diline tam ve doru olarak
BEYoLU evidiimi beyan ederim.
36.NoTERl
yeminli Tercman
NAZAN KANDEMlR N
.7trL
T6i9m cacces.
8ahetepe
i(al 1
ATATRK OTO
sANAYl N.AKBAcl ;cl
Tlc.MRK. No.88
MAstAl(lSTANBUL

&rL
{+90 2t2} 255 a5 6]
r el 0212-346 26
:
92-93 / Direk Hat:346
26 91
Adres: Kocatepe Mah,- Taksim Cad,-
Betepe Haru, No:2l , Kat:4 -
Taksim/Beyolu - STANBUL

,:.i..u
"'Jt
L,
.- ',,' . -, -.;;i.ir ' g.\q, i--:' taraf ndan
,|J=c i-'_. ,:i
:._| :- r :.::,.:,, j :)., . !{{ ::ii, r T.ri].. n
.

l'i\- ,i " )l
sbu terciimenir:yn(idak.'a'rdrt" b,lun* Noterliimiz
veminli tercUmjh'.j,''Kjplji marufumuz; 21,01,1957
dogumlu, rlamaiy'\*,,jrtJd*v"6 Faysal olu Necdet ITRI
tarfndan ngilizceden Trkeye tercme edildiini onaylarm,

ki-bin-on-bir yl Aalk aynn on-dokuzuncu gtin, 19,|2,201.|

B,;yolu 36, Noterlii

oTE Ri
Yerj
DEMi R
mzaya yetkil
atlp
I]iN EKA

KDV, Hal, Damga Ve19isiVe Deelli Kalt bedeli makbuz kartll tahsil edilmitil
(GL) iJs Ka=1/o. AJs YAzl=1i0, AJs DeK =1/0, DYNK.sf ,Ka.=,200.8
 ,

Trki e Cumhuri eti YeV.No:(A)

T.c.
BEYoLU
36,NoTERl
dilindeki. asl
Tercme edilmek zere bana verilen ngilizce
ve doru olarak
a","l."pVJrj belgeyi Trke diline tam
evirdiimi beyan ederim.
BEYoLU,
36.NoTERl yeminli Tercman
NAZAN KANDEM|R N

JtrL
Takrn caddeg
8aepe lh a.Nc

ATATRK OTO s'i

sANAYl N.AKBACl .aI

2

Tlc.MRK. No.88 _a
[.4AStAlvlSTANBUL

JlrL
i,!0 21 655l
el 0212-346 26
-.

92_93 / Direk Hat:346

26 91
Adres: Kocatepe Mah.- Taksim Cad,-
Bahetepe Han, No:2l, Kat:4 -
Taksim/Bey o lu - STANBUL

i; ],
Oz :; in)c, i, :t ;' i r

bu tercmenin rkard Noterliimiz

yeminli terctiman ve 21.0I.195,7
doumlu, Hamdiye Nurten ve Faysal olu Necdet ITR
tarfndan ngilizceden Trkeye tecme edildiini onaylanm.

ki-bin-on-bir yl Aralk aynn on-dokuzuncu giio, 19,12,2011

Dey.,l, 36, Noterlii

c. +
.\
BEY('}Gi_U 36. Ol ,
, a
NAZAN KANiJr,] i
Yerlne lmzava Yet l-'
Bar;iiip t

?
BtNGUL a

kov ta,, Damga Verg,s've Deeii Ka,t bedelim akbuz kallIl tahsil edilmitir
(GL) AJs Ka=1/o, Ns YAzl=,/0. AJs DeK =1i0, DY NK,sl,Ka.=,200.8
 Trki e Cumhuri eti YeV,No:(A)

T.c.
BEYoLU
36,NoTERl
Tercme edilmek zere bana verilen ngilizce dilindeki asl
(fotokopi/faks) belgeyi Trke diline lam ve doru olarak
BEYoLu evirdiimi beyan ederim.
36.NoTERl
yeminli Tercman
NAZAN KANDEMIR
Necdet ITR

JtrL
Taksi.n caddesl,
3d]elepe
ATATRK OTO
SANAYl N.AKBAcl sT
Tlc.MRK, No.88 Tel F 5a
MAStAlvlsTAN8UL
Tel : 0212_346 26 l

JtrL
212] 65 .
92.93 / Direk Hat:346
26 91
Adres: Kocatepe Mah.- Taksim Cad.-
Bahetepe Han, No:21, Kat:4 -
Taksim/Beyolu - STANBUL

n_! (:

r i t:r;:,iil
bu tercmenin Noterliimiz
yeminli tercman ve Uz ;2|.0|.1957
doumlu, Hamdiye Nurten olu Necdet ITR
tarafndan ngilizceden Trkeye tercme edildiini onaylarm.

kibin-on-bir yl Arahk aynn on-dokuzuncu gn, 19,|2.2011

Beyolu 36. Nt .-,l;i

/r
nl. c] +
9

d t!
ktJ oTER
l)eo!n
|l |e irnzs _v_a Yetklj
Bet atap
JI CUL EX^L

KDV, Hal. Damga Vergisi ve oeel|i Kalt bedeli makbUz ka.ll tahsi edilmiti..
(GUL) A./s Ka=1/0, AJs YAzl=1/0. A"is DeK.=1/0. DYNK sf Ka.=.200.8 A.111
/r
-
f| \
|g52509
bu sretin, aslna uygun olduu onaylanr
mza: Noter Jeremy Paul Bradley Carter
Tarih: 8.12.20l l

The Diectors (Ynetim Kurulu)

Beltway Limited Equiom
First Floor
Jubilee Bldings
victoria sfreet
Douglas 2011
Isle of Man IMl 2SH 1 9 ARAL\K
(Man Adas)

Bellwa Limited irket

Ben, irket'in Tescilli Vekili Equiom Trust Company Limited'n ("Tescilli Vekil") imza
yetkililerinden biri olan (Bay) Barry Curtis Smith, ibu belgeyle aadaki hususlar
onaylanm:
1.' irketi 2006 taihli Man Adas iketler Yasas uyarnca kurulmu ve faaliyetini
srdrmekte o|an,'7245Y sicil numaral bir irkettir;
2. irketin ynetim kurulu sicil defterinin hatasz ve eksiksiz bi sureti iliikte
olup;
irketin ynetim kurulu yesi (mdr) aada belirtilmitir:

Ynetim Kurulu yeleri Ad ve Adresi Atanma Tarihi

Kazm zta l Adi hisse

Sait Halim Paa Caddesi
No: 27 Daire: 5
Yeniky-Sanyer
stanbul
Trkiye

_)
irketin ortaklar sicil defterinin hatasz ve eksiksiz bir sureti
iliikte olup; irketin
hisseda aada belirtilmitir:

Hissedar Ad ve Adresi Hamili Olduu Hisse Sy ve Tipi

Kaz m zta 1 Adi hisse

Sait Halim Paa Caddesi
No: 27 Daie: 5
Yeniky-Sanyer
stanbul
Trkiye

&rL -adres bilgileri-

i
c -mhr-

Taks|n caddos,
8aheepe loin1 N0
ft
xa 4
lS1
l
lcl {,0
Qr'

lTR TERCME - Te.: (+90 22) is oz - rrt., 1*so z |2)2.56 65 63

,E, net

Ii52509
4. irketin tescilli merkezi "First Floor, Jubilee Buildings,
Victoia Street, Douglas, Isle
of Man, IMl 2SH (Man Adas) adresindedir.

5. irketin mali durumu iyidir ve aleyhinde balatlrn

veya balatlabilecek olan hibir
hukuki ilem ve irketin tasfiyesi veya kayyum ya da ynetici atanmas amacyla
alm hibir dava bulunmamaktadr.

6. Equiom Trust company Limited, tescilli bir vekil olarak hareket etrneyi
yasalan
yuiuku.uy-, 2000 ve 2005 tarihli Man Adas Emanet Hizmetleri
erevesinde verilmi bir ruhsata sahiptir.

Bugii, 28 Kasm 20l l tarihinde dzenlenmitir.

|mza
B C Smi
Tescilli vekil
Equiom Trust Company Limited
ad ve hesabna hareket eden
mza yetkilisi

Tasdik erhi
(5 Ekim 196l tarihli Lahey Szlemesi)

l. lke: Man Adas (Isle of Man)

bu resmi belge:

2. JEREMY PAUL BRADLEY CARTER tarafndan imzalanmtr,

3. mzalayann sfat: NOTER'dir

4. AnlanNoterinmhr/damgasntamaktadr,

Tasdik

5. Douglas'ta \ 6. -8 ARALIK 20l l gn

7.. Man Adds Vali Yardmcs tarafndan

8. 060692 say ile tasdik editmtir.

S. .. Vilitr/bamga l0. mza: Ashley Margaret SayJe .

Vekili
Kayt leri Mdr Yardmcs
Ekelanslar vali yardmcs Adna

ye almaz ancak dilc,inden Birleik

Ma Adas, iilerinde bamslz bir Britanya Devletidir, Birleik K,rallk ieriside
kallk sorumludur.
u lkeyi temil eden
Bu belge,5 Ekim 1961 t.rihli Lhy Sz|emesin e taraf olmyan bir lkede kullanl
misyon-un konsolosluk blOmne onayltllmldlr,
"f.
JtrL
Tai9m cao6l.

)
Tel Q,'

TERCME _ Te.: (+90 2|2)2s6 65 62 ,F aksl (+9o 2I2) 256 65 6] - E-pota|

ir90 2l) 2s4 65 6{

,7trL
 Iquiom Jlt company imited

;
Certifie.J tue copy of origii ilg 52 5 0 9
1

l
i

The Directors
Bellway Limited
First Floor
l

l
l
; .. .
ii; :1,
Paul Bndley Ca"er
Putiic
Equiom
Jubilee Bui|dings
vjctoria street l
oouglas D
lsle of Man
lM1 2SH

Bl|wav Llmlted lthg "comDanv"l

the Registered
|,Mr Barry curtis smith, an authorised signatory of Equiom Trustcompany Limited,
Agent or t'he company ("tho Reglstorod Aggnt"), do hereby certity that-

1. The Company is a company inco.porated and exist]ng under the lsle of l\4an Comianies Act
2006 with comPany registration number 7245V;

2, Herewith is a correct and complete copy of the register of directors of the

comPanyi the
difector of the company is:

Name and Address of Directors 0ate of APPointment

kasim oztas 15 November 201 1

sait Halim pasa caddes i

No: 27 Daire:5
Yenikoy-Sariyer
lsantbuI
Turkey

of the company, the

3 Herewith is a coneci and comp|ete copy of the register of members
shareholder of the company is

Name and Address of shareho|der Number and Type of Shares Held

1 ordinary share
kasim oztas
ait Halim pasa caddes i

No: 27 oa]re:5

JtrL
Yenikoy-sariyer
lsantbul *T.
A
Tu,key

y, t
o' , }
l
::|];
JlrL
TJ a!, l

equ,cm im
6 699001 Email: enqu,fie9@.qJom im www
]ub]Lee 8ui1 din95, vi.tolin stleet. 0o!qlar. lrle of Man ll,'l 2s-l l +44 1624 699000 fa] +44
ol M.n: No rr18
!l..0Jitdin99,vi(lon.5l,.|:,oou|lai,lrtotM"lMr N i,
,]rl (om..a.yl]f(.a]!.t.ltd by tl, !]l' ol Mdn ll,in,iat su
ln$.lrl.
 l{g 52 5 0 9 Eq uom
4 The registered office of the Company is at First Floor, Jubilee 8uildings, Victoria street,
Douglas, |sle of Man, IM1 2sH;
( The Company is in good standing and that there are no proceedings pending or threatened
against the company and that no action has been taken to wind up the company or to
appoint a eceiver or manager;

6, Equiom Trust Company Limited holds a licence gnted unde[ the lsle ot Man Fiduciary
services Acts 2000 and 2005 which does not exclude acting as registered agent,

Dated this 28th day of November 2011

B c smith
Authorised signatory
For and on behalf of
Equiom Trust compant, ;rr:+6,
'
Regjstered Agent

}.

. '.

8rtl,rs
](r1.1 iOjt,]

iO1

|.9
 Apostille
,1961)
(Hague convention of 5 october 1961/Convention de la Haye du 5 octobre

1 country: lsle of Man

Pays: l'lsle de Man
This public documenvLe prsent acte public

2 has been signed by

a t6 sign6 par ,................ .JEREMYP]AUL BRADLEYCARTER
{r_:ari,F;
tEir]:HTA ;)

3 acting in the
de
of
Lc
agissant en

4, bears the p

est r

Ce
-8 D
5. at Doug 6
/
7 by His
par so n Exce \blrl UVe d an

8 Number/sous No (M) lOM J 060692

-i !: !->
o Stamp:
,l0. signature
timbre: ASh ley Marg s ayle
_D_:?Y:Y l::]:::il 9|l:l ?9]::
For His Excellency the Lieutenant GoVernor
Pour son Excellence le L|eutenant Gouvemeur

The lsle of Man is an internally self-governing dependent territory of th BritiSh

crown. lt is not part of the United Kingdom but the United Kingdom is responsible for
its international relations.

lf this document is to be used in a country whch is not party to the Hague

convention of 5 october 1961, lt should be presented to the consular section
of the mission rePrsenting that country.
 EqOiom Tru5t company Limted

Equiom
The Directors
Bellway Limited
First Floor
Jubilee Buildings
victoria street
Douglas
lsle of Man
ll\41 2sH

Bellwav Limited (the "comDanV"l

l, Mr Barry curtis smith, an authorised signatory of Equiom Trust company Limited, the Registered
Agent of lhe company ("the Registered Agent"), do hereby certify that:-

1. The company is a company incorporated and exist|ng under the lsle of Man companies Act
2006 with company registration number 7245V;

2. Herewith is a correct and complete copy of the register of directors of the company; the
director of the Company is:

Name and Address of Directors Date of Appointment

,l5
kasim oztas November 201
,1

sait Halim pasa caddes i

No: 27 Daire:s
Yenikoy-Sariyer
lsantbul
Turkey

Herewith is a correct and complete copy of the register of members of the Company; the
,'

sharehoIder of the company is:

Name and Address of shareholder Number and Type of shares Held

kasim oztas 1 ordinary share

sait Halim pasa caddes i
No: 27 Daire:s
Yenikoy-Saryer
lsantbul
Turkey

+44 1524 699000 ta: +441624 699001 EmaiL: e nqu iries@ eouiom, im www,eqJiom,im
lubilee Buitdin95, Victo.ia 5treet, Douqlas, lsle of Man lM1 2sH Tet:
n gbt.redotr..: l!bile glildin95, victoria stleer, ocuq la!, lslg of Ma. lM1 25H .gBi.d lnth.l..
of M.n: No tI582
lrle of M.n linanCial 50ofui5ion commi19ion
Eqliom Tlur company timited is lic.nsd by th
 Equiom

4 The registered office of the Company is at First Floor, Jubilee BuiIdngs, Victoria street,
Douglas, lsle of Man, lM1 2sH;

The company is in good standing and that there are no proceedings pending or threatened
against the company and that no action has been taken to wind up the company or to
appoint a receiver or manager,

6 Equiom Trust Company Lmited holds a licence granted under the lsle of Man Fiducjary
services Acts 2000 and 2005 which does not exclude ating as registered agent.

Dated this 28th day of November 201 1

B c Smith
Authorised signatory
For and on behalf of
Equiom Trust company Limited
Registered Agent
 lquiom TruJt company Ljmited

Certified true copy of original

i.l
Equiom
The Direclors n;.._
Bellway Limited
First Floor J:;y Paul Bradley Cate
Jubilee Bui|dings }ictay Pubo
victoria street
Douglas
lsle of Man
lM1 2SH

Be llwav Llmlted {the "comoanv"l

|, Mr Barry curtis smith, an authorised gignatory of Eguiom Trust company Limited, the Registered
Agent of th company ("th6 Regbtered Agent"), do hereby certify that:-

1. The company is a company incorporated and existing under the lsle of lvan companies Act
2006 with c9mpany registation number 7245V;

2, Herewith is a correct and complete copy of the registef of difectors of the company; the
director of the Company is:

i
Name and Address of Diectors oatg of ApPointmont



kasim oztas 15 November 201 1
sait Halim pasa caddes i
l No: 27 Daire:5
t Yenikoy-Sariyer

lsantbul
Turkey

I

{a, Herewith is a correct and complete copy o' the register of members of the company; the
shareholder of the Company is:

l

Name and Address of shareholdar Numbe and TyPe of shares Held
I

kasim oztas 1 ordinary Share
l sait Halim pasa caddes i
l
il No: 27 Daire:5
Yenikoy-sa,iyef
lsantbul
Turkey

ManiM2sH Tel 524599ooo fax: +44 1624 699001 [mail: enqujlles@quaom im VJwwequiom m
lubil. 8Jildingr, Vi.toria stleet, DotJglas, lsleof +44

|obllee Buildin9!,!i.lor. st.ert. 0oJgla9, lrlE ot M.n li,l rsH .el.f.d

i.llrlatai oficai nthatlao' M.n: No 1582
tqliomtlurt company tlnilad i! llce.,td by th.l9lrolMan fin.(tl l!p.N'o. commillion
 Equiom

4 The registerd office of the company is at First FlooI, Jubilee Building, Victora street,
Douglas, lsle of Man, lM'l 2sH;

5 The Company is in good standing and that there are no proceedings pending or threatened
agajnst the company and that no actlon has been takn to wind up the company or t0
appoint a receiver or manager;

o Equiom Trust Company Limited holds a licence granted under the lsle of Man Fiduciary
services Acts 2000 and 2005 which does not exclude acting as registered agent,

Dated thi 28th day of November 201

,1

B c
smith
%.c.
Authorised Signatory
For and on behalf of
Equiom Trust company Limited
Registered Agent
 tqu|om lru5t lompany Lmled

Equiom
Mr Engin Tunic
Resitpasa Deniz Bank Ust Sitesi
Yol Sokak No:29
34467 lstinye
lStanbu
Turkey

Kc/Belway Limited

13 January 2012

Dear Engin

Bellway Limited

Please find enclosed the following documents:

. certificate of lncoporation, notorised and apostilled

. Memorandum and Articles of Association, notorised and apostilled
. certificate of lncumbency, notorised and apostilled
. Registered of Directors
. Registered of Members

l trust you find all in order, however, if you need anything else please do not hesitate to
contact me.

Yours sincerely

karen calladine
Senior Administrator - Yachting and Aviation

tax: +441524 699001 Emait; enquiries@equiom.im wwuequiom,im

lubitee BUildjnqs, vjcto.ia 5treet, Dou9la5, lste of Man lM1 25H Tet| +44 1624 699000
Buildings, victoria 5trcet, oouq la. lrle ol Ma. lM1 25H lr..td h th.llb
o' M.n: No 11582
R.g|n.nd ot..:
lubil.e
tquiom Trustcompany Limited ir ll(ensd byth l9leofMan Fin.nc alslpervision commlr9on
 tquiom Trust company Limited

Equiom
The DirectorS
Bellway Limited
First Floor
JubiIee Buildings
victoria street
Dou9Ias
lsle of Man'
lMl 2SH

Bellwav Limited {the "comDanV")

l, Mr Aidan Francis Davin, an authorised signatory of Equiom Trust Company Limited, lhe
Registered Agent ofthe company ("the Registered Agent"), do hereby certify that:-

1, The company is a company incorporated and existing under the lsle of Man companies Act
2006 with company fegistration number 7245V;

2 Herewith is a correct and complete copy of the register of directors of the company; the
director of the Company is:

Name and Address of Directors Date of Appointment

kasim oztas 15 November 201

,1

sait Halim pasa caddes i

No: 27 Daire:s
Yenikoy-Sariyer
lsantbul
Turkey

3 Herewith is a correct and compIete copy of the register of members of the company, the
shareholder of the company is:

Name and Address of shareholder Numbe and Type of Shares Held

,1
kasim oztas ordinary share
sait Haim pasa caddes i

No: 27 Daire:5
Yenikoy-sariyer
lsantbul
Turkey

lM1 2sH Ter: +44 1624 599ooo Fax] +441624 699001 EmaiLI e nq uilies@ eqU iom,im www,equiom,im
lubitee Buildin95, Victoria stleet, oouqla5, lsle of Man
fugl5t.rad lntlr.liofMan: No 1582
R.ql5t.r.d ofi..: |lbilee 8ulld nq5 vrctona street, Dougla!.ltleof Man ]Ml2sH
Equio.n TrOltcompa.y Lirnited is licenred by lhe lle ofMan
financial luoervjsion commision
 Equiom
4 The registered otfice of the company is at Fi[st Floor, Jubilee Buildings, Vjctoria Street,
Douglas, lsle of Man, lM1 2sH;

5 The Company is in good standing and that there are no proceedings pending or threatened
aganst the company and that no action has been taken to wind up the company or to
appoint a receiver or manager;

6 Equiom Trust company Limited holds a licence granted under the lsle of Man Fiduciary
services Acts 2000 and 2005 which does not exclude acting as registered agent.

Dated this 1,1'h day of January 2012

A F Davin
l Authorised Signatory
l For and on behalf of

Apostille
, (Hague convention of 5 october 1961/convention de la Haye du 5 octobre 1961)

. Country: lsle of Man

Pays: l'lsle de Man
This public documenvle prsent acte public ,rsentshdll come o
Dougl!. sle ol Mn
REBY cERTFY lho
2. has been signed by BARRY cURTls M|TH frDa ft,",
a 6t sign par ........................,
3uch .ignture{s) hving

Llc
, Pres.rc. bY lha obove
3 acting in the caP_tiy of NoTA to m.) N FA.ITH AND
!oid Noto.Y hovin9
agissant en gu2lte oe dnd dlllrad mY .eol o1
r.oid ihi! ,|, P doY
lnd 6nd r uo.cLv E
4. bears the Seal/stamp o
est revtu au sceau/ti de ...",...........,-......... '*::-z.*

] certified/AtteSt
12 J 012

5 at Dou9la/aP_oY913s 6. - the/le

7. by His Excellencv the Lieutena of the lsle of Man'

par so n Excellence le L"ia nenJ Go uVe meur o" . o"hun

8. Number/sous No (M) loM .ji ii..\ 0 6137 8

j<-
9 stamp: 1o. signature K *>,,,-r,a9;
timbre Katrna Mary surridge (7
Deputy AsSistant Chie Registrar

For His Excellency the Lieutenanl GoVernor

pour son Excellence le Lieutenant Gouverneur

I
territory of the BritiSh
l

[he l sle of Man iS an internal|y self-governing dependent is responsible for

Crov l i" - J"rt t unt"o Kngoom o'ut tte united Kingdom
".
lts irternational "
relations. "

party to the Hague

lf th's document is to be used in a country which is not
"r".l- .t O"tober,l96l, it should 6e presented to the consular section
of the mission representin9 that country,
 52 5 0 9

ApostilIe
(Hague convention of 5 october 'l961/convention de la Haye du 5 octobre 196'1)

1 country: lsle of Man

Pays: l'lsle de Man
This public document/Le prsent acte public

2 has been sgned by

a t sign par ..,... JEREMY PAUL BRADLEY CARTER

3 acting in the cap_E?y of

NoTAR Yf-uBLlc
agissant en gualit de .

4 bears the seal/stamp o

est revatu du sceau/ti de

certified/Attest
-8
5 at DouglasJaplugl.as 6. ..lh-e/|e

7.
,-: t_

by His Exce_llency th.e LieUten of the lsle of n

par son exce'JTence e!. Lie erTl!r oe ]sL d e il4 a n

8 Number/sous No (M) loM al.r\ \ 060692

o
Ar A^
signature
fl)-t]l
Stamp: 10
timbre]
Asnley MargEkei say,e
Dep-tV Assistant chief Reoi.,.
For His EXcellency the Lieutenant Governor
pour son Excellence le Lieutenant Gouverneur

The lsle of Man is an internaIly selfoverning dependent territory of the BritiSh

crown. lt s not part of the United Kingdom but the United Kingdom is responsible for
its international relations,

lf this document is to be used in a country which is not party to the Hague

f. q
convention of 5 october,|961, it should be presented to the consular section
of the mission representing that country.

*
lrL
TaNsir cao!s
2
.
8,rhceep

i+90 ?] 6!

,JlrL
56 55

lUI