April 3, 2017

BOARD RESOLUTION
At the meeting of the Board of Directors of JOASY PEN ENTERPRISES LIMITED, duly convened and
held at the company’s office at Water Front, Udo Bridge, Warri, Delta state, on 3 rd April 2017, it
was proposed and duly passed as follows:

 That the company JOASY PEN ENTERPRISES LIMITED should sell its 500MT ramp barge
with name ALERAMU JOPEL 1 and 800HP Tug Boat with name MV PRAISE JAH to BIRTH
RESOURCES PROJECTS LIMITED.
 That after sale of ALERAMU JOPEL 1 and MV PRAISE JAH, BIRTH RESOURCES PROJECTS
LIMITED becomes the rightful owner of the barge and tugboat and can make changes to
the barge and tugboat documents at will and as may be required.
 That the barge and tugboat documents for ALERAMU JOPEL 1 and MV PRAISE JAH should
be handed over to BIRTH RESOURCES PROJECTS LIMITED with immediate effect from the
release date of this board resolution and receipt of payment from BIRTH RESOURCES
PROJECTS LIMITED.
 That the barge and tugboat should be sold for Twenty-Five Million Naira and Twenty
Million Naira respectively and a receipt should be issued to BIRTH RESOURCES PROJECTS
LIMITED after payment.

Signed: ________________________ Signed:______________________

PRINCE ODUBU SHEM ODUBU

DIRECTOR DIRECTOR