Dividend

Each of the Shares will entitle the holder thereof to an equal right to participate in dividends. Each of the Shares participates equally in the Company’s profits (if any).

Subject to (i) the Company’s earnings, financial condition, capital requirements and other factors considered important by the Board of Directors, (ii) the availability of distributable reserves and(iii) the approval of the shareholders, the Company intends to declare and distribute an annual non-cumulative dividend to its shareholders based on a target pay-out ratio of 33% of the Company’s net profit . There can be no assurance as to whether dividends or similar payments will be paid out in the future nor, if they are paid, as to their amount.

The dividend amount is set by the Board of Directors and subsequently proposed at the Annual General Meeting of shareholders at the end of each fiscal year.