Common use of Authorization of Deposit Agreement Clause in Contracts

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable Time.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ ' rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable Time.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the DepositaryDepository, constitutes a valid and legally binding obligation agreement of the Company, Company enforceable against the Company in accordance with its terms, subject, except as to enforceability, to enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and or similar laws of general applicability relating to or affecting creditors’ rights or by equitable principles relating to enforceability. Upon due execution and to general equity principles; upon due issuance delivery by the Depositary of the ADRs evidencing ADSs and the deposit of Ordinary Shares underlying the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs ADSs will be duly and validly issued and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement, General Disclosure Package as of the Applicable Timeand Final Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeProspectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Applicable TimeCompany’s ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Applicable TimeCompany’s ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs ADSs will be duly and validly issued and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs ADSs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeProspectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium reorganization and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; , and upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof of the Placement ADSs in accordance with the provisions of the Deposit Agreement, the Placement ADSs, when issued, will be validly issued and fully paid, and upon issuance by the Depositary of the Placement ADSs, such ADRs ADSs will be duly and validly issued and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs Placement ADSs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of Registration Statement and the Applicable Time.Prospectus;

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Offered Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeFinal Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, Company enforceable against the Company in accordance with its terms, terms subject, as to enforceability, to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon , and does not violate any requirements of applicable laws. Upon due issuance execution and delivery by the Depositary of the ADRs evidencing the Offered Securities against and the deposit of the underlying Ordinary Offered Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, General Disclosure Package as of the Applicable Timeand Final Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the DepositaryCompany, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities ADSs against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Offered ADSs and ADRs will be duly and validly issued issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as of and the Applicable TimeProspectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, Company enforceable against the Company in accordance with its terms, subject, except as to enforceability, to enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and or similar laws of general applicability relating to or affecting creditors’ rights or by equitable principles relating to enforceability. Upon due execution and to general equity principles; upon due issuance delivery by the Depositary of the ADRs evidencing the Offered Securities against and the deposit of the underlying Ordinary Offered Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, General Disclosure Package as of the Applicable Timeand Final Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Common Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeFinal Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Class A Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Applicable TimeCompany’s ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, Company enforceable against the Company in accordance with its terms, subject, except as to enforceability, to enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and or similar laws of general applicability relating to or affecting creditors’ rights or by equitable principles relating to enforceability. Upon due execution and to general equity principles; upon due issuance delivery by the Depositary of the ADRs evidencing the Offered Securities against and the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable TimePackage.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution Company; and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium reorganization and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; , and upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof of the Placement ADSs in accordance with the provisions of the Deposit Agreement, the Placement ADSs, when issued, will be validly issued and fully paid, and upon issuance by the Depositary of the Placement ADSs, such ADRs ADSs will be duly and validly issued and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs Placement ADSs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of Registration Statement and the Applicable Time.Prospectus;

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due . Upon the issuance by the Depositary of the ADRs evidencing the Offered Securities against ADSs and the deposit of the underlying Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued issued, and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as of and the Applicable TimeProspectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorizedauthorized by the Company and, when executed and delivered by the Company and, (assuming the due authorization, execution and delivery thereof by the Depositary, constitutes ) will constitute a valid and legally binding obligation agreement of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium reorganization and similar laws of general applicability relating to or affecting creditors’ ' rights and to general equity principles; upon due issuance by the Depositary of the ADRs Depositary Receipts evidencing the Offered Securities against Shares and the deposit of the underlying Ordinary Shares Preferred Stock in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs Depositary Receipts will be duly and validly issued and the persons in whose names the ADRs Depositary Receipts are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs Depositary Receipts conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable TimeOffering Memorandum.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company andCompany, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities ADSs against the deposit of the underlying Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADSs and ADRs will be duly and validly issued issued, and the persons in whose names the ADSs and ADRs are registered will be entitled to the rights specified therein therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable TimeSEC Filings.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, and when executed and delivered by the Company andCompany, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities ADSs against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs ADSs will be duly and validly issued issued, and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the General Disclosure Package as of the Applicable TimePackage.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, and when executed and delivered by the Company andCompany, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities ADSs against the deposit of the underlying Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Offered ADSs and ADRs will be duly and validly issued issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and the General Disclosure Package as of the Applicable TimePackage.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorizedauthorized and, when executed and delivered by the Company andCompany, assuming due authorization, execution and delivery by the Depositary, constitutes will constitute a valid and legally binding obligation agreement of the Company, enforceable against the Company in accordance with its terms, subject, except as to enforceability, to enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and or similar laws of general applicability relating to or affecting creditors’ rights or by equitable principles relating to enforceability. Upon due execution and to general equity principles; upon due issuance delivery by the Depositary of uncertificated ADSs evidenced by registration in the ADRs evidencing books of the Offered Securities against Depositary, and the deposit of the underlying Ordinary Offered Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs uncertificated ADSs will be duly and validly issued and the persons in whose names the ADRs uncertificated ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs uncertificated ADSs, as applicable, conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeFinal Prospectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, and when executed and delivered by the Company andwill, assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Applicable TimeCompany’s ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as Registration Statement, the Time of Sale Prospectus and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Applicable TimeCompany’s ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities against the deposit of the underlying Ordinary Common Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of and the Applicable TimeProspectus.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company Issuer and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the CompanyIssuer, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon due issuance by the Depositary of the ADRs evidencing the Offered Securities Notes against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs will be duly and validly issued and the persons in whose names the ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the General Disclosure Package as of the Applicable TimeOffering Document.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, subject, as to enforceability, to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles; upon . Upon due issuance execution and delivery by the Depositary of the ADRs evidencing the Offered Securities against ADSs and the deposit of the underlying Ordinary Offered Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such ADRs ADSs will be duly and validly issued and the persons in whose names the ADRs ADSs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement, the General Disclosure Package as of and the Applicable TimeFinal Prospectus.