Common use of Authorization of Capital Stock Clause in Contracts

Authorization of Capital Stock. The share capital of the Company outstanding prior to the issuance of the Ordinary Shares underlying the Offered ADSs to be sold to the Underwriters by the Company has been duly authorized and is validly issued, fully paid and non-assessable and was not issued in violation of the preemptive or similar rights of any security holder of the Company or any of its subsidiaries.

Authorization of Capital Stock. The share capital of the Company outstanding prior to the issuance of the Ordinary Shares underlying the Offered ADSs to be sold to the Underwriters by the Company (including the Ordinary Shares underlying the Offered ADSs to be sold to the Underwriters by the Selling Shareholders) has been duly authorized and is validly issued, fully paid and non-assessable and was not issued in violation of the preemptive or similar rights of any security holder of the Company or any of its subsidiaries.