Common use of Distribution in Shares Clause in Contracts

Distribution in Shares. If any distribution upon ---------------------- Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may, and shall if the Company so requests, distribute to the Registered Holders of Receipts on the record date fixed pursuant to Section 4.06 hereof, in proportion to the number of American Depositary Shares held by each of them, respectively, additional Receipts in the same form for an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to the terms and conditions of this Deposit Agreement with respect to the deposit of Shares and the issuance of American Depositary Shares evidenced by Receipts, including the withholding of any tax or other governmental charge as provided in Section 4.12 hereof and the payment of the fees, expenses and charges of the Depositary as provided in Section 5.09 hereof and Exhibit B hereto. In lieu of delivering Receipts for fractional American Depositary Shares the Depositary may, in its discretion, sell the amount of Shares represented by the aggregate of such fractions, at public or private sale, at such place or places and upon such terms as it may deem proper, and distribute the net proceeds of any such sale in accordance with Section 4.01 hereof. If additional Receipts are not so distributed (except as pursuant to the preceding sentence), each American Depositary Share shall thenceforth also represent its proportionate interest in the additional Shares so distributed upon such Deposited Securities.

Distribution in Shares. If any distribution upon ---------------------- Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may, and shall if the Company so requests, distribute to the Registered Holders Owners of Receipts on the record date fixed pursuant to Section 4.06 hereof, in proportion to the number of American Depositary Shares held by each of them, respectively, additional Receipts in the same form for an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to the terms and conditions of this Deposit Agreement with respect to the deposit of Shares and the issuance of American Depositary Shares evidenced by Receipts, including the withholding of any tax or other governmental charge as provided in Section 4.12 4.11 hereof and the payment of the fees, expenses and charges of the Depositary as provided in Section 5.09 hereof and Exhibit B heretohereof. The Depositary may withhold any such distribution of Receipts if it has not received reasonably satisfactory assurances from the Company that such distribution does not require registration under the Securities Act or is exempt from registration under the provisions of such Act. In lieu of delivering Receipts for fractional American Depositary Shares Shares, the Depositary may, in its discretion, sell the amount of Shares represented by the aggregate of such fractions, at public or private sale, at such place or places and upon such terms as it may deem proper, and distribute the net proceeds of any such sale in accordance with Section 4.01 hereof. If additional Receipts are not so distributed (except as pursuant to the preceding sentence), each American Depositary Share shall thenceforth also represent its proportionate interest in the additional Shares so distributed upon such Deposited Securities.

Distribution in Shares. If any distribution upon ---------------------- Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may, and shall if the Company so requests, may distribute to the Registered Holders of Receipts on the record date fixed pursuant to Section 4.06 hereof, in proportion to the number of American Depositary Shares held by each of them, respectively, additional Receipts in the same form for an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to remainder of this Section 4.03 and the terms and conditions of this Deposit Agreement with respect to the deposit of Shares and the issuance of American Depositary Shares evidenced by Receipts, including the withholding of any tax or other governmental charge as provided in Section 4.12 hereof and the payment of the fees, expenses and charges of the Depositary as provided in Section 5.09 hereof and Exhibit B heretohereof. In lieu of delivering Receipts for fractional American Depositary Shares the Depositary may, in its discretion, sell the amount of Shares represented by the aggregate of such fractions, at public or private sale, at such place or places and upon such terms as it may deem proper, and distribute the net proceeds of any such sale in accordance with Section 4.01 hereof. If additional Receipts are not so distributed (except as pursuant to the preceding sentence), each American Depositary Share shall thenceforth also represent its proportionate interest in the additional Shares so distributed upon such Deposited Securities. The Depositary may withhold any such distribution of Receipts if it has not received satisfactory assurances from the Company (including an opinion of counsel to the Company furnished at the expense of the Company) that such distribution does not require registration under the Securities Act or is exempt from registration under the provisions of the Securities Act. To the extent such distribution may be withheld, the Depositary may dispose of all or a portion of such distribution in such amounts and in such manner, including by public or private sale, as the Depositary deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such sale (after deduction of applicable (a) taxes and/or governmental charges and (b) fees and charges of, and expenses incurred by, the Depositary) to Registered Holders entitled thereto upon the terms described in Section 4.01.

Distribution in Shares. If any distribution upon ---------------------- any Deposited Securities consists of a dividend in, or stock split in the nature of a free distribution of, Shares, the Depositary may, and shall if the Company Issuer shall so requestsrequest, distribute to the Registered Holders Owners of outstanding Receipts on the record date fixed pursuant to Section 4.06 hereofentitled thereto, in proportion to the number of American Depositary Shares representing such Deposited Securities held by each of them, them respectively, additional Receipts in the same form for evidencing an aggregate number of American Depositary Shares representing the amount of Shares received as such dividend or free distribution, subject to the terms and conditions of this the Deposit Agreement with respect to the deposit of Shares and the issuance of American Depositary Shares evidenced by Receipts, including the withholding of any tax or other governmental charge as provided in Section 4.12 hereof 4.11 and the payment of the fees, expenses and charges fees of the Depositary as provided in Section 5.09 hereof and Exhibit B hereto5.9. The Depositary may withhold any such distribution of Receipts if it has not received satisfactory assurances from the Issuer that such distribution does not require registration under the Securities Act of 1933 or is exempt from registration under the provisions of Such Act. In lieu of delivering Receipts for fractional American Depositary Shares in any such case, the Depositary may, in its discretion, shall sell the amount of Shares represented by the aggregate of such fractions, at public or private sale, at such place or places and upon such terms as it may deem proper, fractions and distribute the net proceeds of any such sale proceeds, all in accordance with the manner and subject to the conditions described in Section 4.01 hereof4.1. If additional Receipts are not so distributed (except as pursuant to the preceding sentence)distributed, each American Depositary Share shall thenceforth also represent its proportionate interest in the additional Shares so distributed upon such the Deposited SecuritiesSecurities represented thereby.