Common use of Execution and Delivery of Receipts Clause in Contracts

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with After the Custodian to confirm to the Depositary (i) that a deposit of any Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary2.02, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cablefirst class airmail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, telex, facsimile transmission or other means of electronic transmissionSWIFT. Upon After receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue execute and deliver at the American Depositary Shares representing the Shares so deposited Depositary's Office to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall execute and deliver Receipts only in accordance with this Section 2.03 and with Sections 2.04, 2.06, 4.02, 4.03 and 4.08. The Depositary may issue Receipts representing Restricted Securities upon receipt of proper instructions from the Company setting forth the details surrounding the issuance of such Restricted Securities, the restriction(s) placed thereon, and any legend required to be placed on the Receipts representing such Restricted Securities. Thereafter, upon the proper deposit of Shares with the Custodian, receipt by the Depositary of issuance instructions in proper form, and compliance with any other applicable provisions of the Deposit Agreement, the Depositary may issue Receipts ("Restricted Receipts") evidencing restricted American Depositary Shares ("Restricted ADSs") representing such Restricted Securities . Until such time as the Depositary has received an opinion of U.S. counsel to the Company in whole numbers form and deliver substance reasonably satisfactory to counsel to the Depositary stating that, in connection with the resale of the Restricted Receipts representing Restricted Securities, the Shares underlying such Restricted ADSs have been registered under the Securities Act or that such Restricted ADSs (as well as those Restricted ADSs issued on the transfer, split-up or combination thereof) may be freely transferred under Rule 144 or Rule 145 promulgated under the Securities Act of 1933 or another applicable exemption from the registration requirements thereof, any Restricted ADSs shall be issued in book-entry form with the restrictive legend, in the form provided by the Company, set forth on the books of the Depositary. Upon receipt of a legal opinion of U.S. counsel to the Company addressed, and in form and substance acceptable, to the Depositary, the Depositary shall remove the restrictive legend from the Restricted ADSs referred to in such opinion, and re-issue such Restricted ADSs in the form of unrestricted American Depositary Receipts evidencing whole numbers Shares through the Direct Registration System. Any costs or expenses incurred by the Depositary in connection with the deposit of American Depositary Shares. Nothing herein Restricted Securities and/or the issuance of Restricted ADSs shall prohibit any Pre-Release Transaction upon be borne by the terms set forth in this Deposit AgreementCompany.

Execution and Delivery of Receipts. The Upon receipt by any Custodian of any deposit pursuant to Section 2.03 hereunder together with any other documents required by the Depositary has made arrangements in accordance with the Custodian to confirm this Deposit Agreement, and upon receipt in form satisfactory to the Depositary of a proper acknowledgement or other evidence from the Company or the Russian Share Registrar (iincluding extracts from the Share Register) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded on the Share Register maintained by the Russian Share Registrar in the name of the Depositary, Depositary or its nominee or the Custodian or a nominee of either on its nominee, such Custodian shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited execute and deliver at its Corporate Trust Office to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges fees and expenses of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.09, and Exhibit B hereto) and of all taxes (including, without limitation, amounts in respect of any applicable transfer taxes) and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Deposited Securities. Alternatively, the Depositary, at the request, risk and the issuance expense of the Receipt(s). The Depositary person making the deposit and subject to the terms and conditions of this Deposit Agreement, shall only issue deliver at its Corporate Trust Office to or upon the order of the person or persons entitled thereto, a physical certificated Receipt or Receipts, registered in the name or names and evidencing any authorized number of American Depositary Shares requested by such person or persons, but only upon payment to the Depositary of the fees and expenses of the Depositary for the execution and delivery of such Receipt or Receipts as provided in whole numbers Section 5.09, and deliver American Depositary Receipts evidencing whole numbers of American Depositary Sharesall taxes (including, without limitation, amounts in respect of any applicable transfer taxes) and governmental charges and fees payable in connection with such deposit and the transfer of the Deposited Securities. Nothing herein in this Section shall be interpreted to prohibit any Pre-Release Transaction upon the terms set forth as defined in this Deposit AgreementSection 2.10 hereof.

Execution and Delivery of Receipts. The Depositary has made ---------------------------------- arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLNECIGEF, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, Custodian and subject to the terms and conditions of this Deposit Agreement and applicable law, the Depositary shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Upon receipt by any Custodian of any deposit pursuant to Section 2.02 hereunder (and in addition, if the CHESS Subregister of the CUFS Depositary has made arrangements with (or the Custodian to confirm appointed agent or agents of the CUFS Depositary for transfer and registration of the CUFS) are open, or if the Depositary so requires, a proper acknowledgment or other evidence from the CUFS Depositary (or appointed agent or agents of the CUFS Depositary for transfer and registration of the CUFS) satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities any deposited CUFS have been recorded upon the CHESS Subregister of the CUFS Depositary (or by the appointed agent of the CUFS Depositary for transfer and registration of CUFS), if applicable, in the name of the DepositaryDepositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable Deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cablefirst class airmail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, telex, SWIFT, facsimile or other means of electronic transmission. Upon After receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law(including, without limitation, the payment of the fees, expenses, taxes and/or other charges owing hereunder), shall issue the American Depositary Shares ADSs representing the Shares CUFS so deposited to or upon the order of the person(s) person or persons named in the notice delivered Delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Deliver a Receipt registered in the name(s) name or names requested by such person(s) and person or persons evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made ---------------------------------- arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLNECIGEF, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, custodian and subject to the terms and conditions of this Deposit Agreement and applicable law, the Depositary shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with Upon receipt by any Custodian of any deposit pursu­ant to Section 2.2 hereunder (and in addition, if the Custodian to confirm to transfer books of the Company or the Foreign Registrar, if ap­plicable, are open, the Depositary (i) may in its reasonable discretion require a proper acknowledgment or other evidence from the Company that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar, if ap­plicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee of either on its nominee), together with the shareholders' register maintained by or on behalf of other documents required as above specified, such Custodian shall, as promptly as practicable, notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose writ­ten order American Depositary Shares a Receipt or Receipts are deliverable deliver­able in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letterlet­ter, cable, telex, SWIFT message first class airmail postage prepaid or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving re­ceiving such notice from such Custodian, or upon the Custodianreceipt of Shares by the Depositary, the Depositary, subject to the terms and conditions condi­tions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall shall, as promptly as practicable, execute and deliver at its Principal Office Receipt(s) Corporate Trust Office, to or upon the or­der of the person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary Deposi­tary of the fees and charges of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering de­livery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.9, and Exhibit B hereto) and of all taxes and governmental charges and fees payable pay­able in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares Deposited Securi­ties, including those payable as provided in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit AgreementSection 3.2.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLSIS, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares ADSs are deliverable in respect thereof and the number of American Depositary Shares ADSs to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares ADSs representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares ADSs to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares ADSs and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares ADSs in whole numbers and deliver American Depositary Receipts ADRs evidencing whole numbers of American Depositary SharesADSs. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLbookentry settlement entity has been received, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose Written order American Depositary Shares Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named nan1ed in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting making a deposit, issuing deposit and the issuance of American Depositary Shares and executing execution and delivering delivery of such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Upon receipt by any Custodian of any deposit pursuant to Section 2.02 hereunder (and in addition, if the CHESS Subregister of the CUFS Depositary has made arrangements with (or the Custodian to confirm appointed agent or agents of the CUFS Depositary for transfer and registration of the CUFS) are open, or if the Depositary so requires, a proper acknowledgment or other evidence from the CUFS Depositary (or appointed agent or agents of the CUFS Depositary for transfer and registration of the CUFS) satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities any deposited CUFS have been recorded upon the CHESS Subregister of the CUFS Depositary (or by the appointed agent of the CUFS Depositary for transfer and registration of CUFS), if applicable, in the name of the DepositaryDepositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable Deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cablefirst class airmail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, telex, SWIFT, facsimile or other means of electronic transmission. Upon After receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law(including, without limitation, the payment of the fees, expenses, taxes and/or other charges owing hereunder), shall issue the American Depositary Shares ADSs representing the Shares CUFS so deposited to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Deliver a Receipt registered in the name(s) name or names requested by such person(s) and person or persons evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made ---------------------------------- arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLNECIGEF, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, custodian and subject to the terms and conditions of this Deposit Agreement and applicable law, the Depositary shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' ’ register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCompanhia Brasileira de Liquidação e Custódia, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and and, if applicable, shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering any such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the any such Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and and, if applicable, deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that transfer of such Deposited Securities have Shares has been recorded in made to the name securities account of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLat NECIGEF, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, if such person should so request by facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting making a deposit, issuing deposit and the issuance of American Depositary Shares and executing execution and delivering delivery of such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Upon receipt by any Custodian of any deposit pursuant to confirm to Section 2.02 hereunder (and in addition, the Depositary may in its sole discretion require a proper acknowledgment or other evidence (i) if the shareholders' register of the Company or the Foreign Registrar, if applicable, are open, from the Company or the Foreign Registrar, as the case may be, that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the shareholders' register of the Company or the Foreign Registrar, if applicable, in the name of the DepositaryDepositary or, the Custodian subject to applicable law, its nominee or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if (ii) where such deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLa CSD, (iii) from such CSD that all required documents and approvals any Deposited Securities have been receivedrecorded upon the books of such CSD in the name of the Depositary or, subject to applicable law, its nominee), together with the other documents required as above specified, such Custodian shall notify the Depositary of such deposit and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from such Custodian, or, to the Custodianextent permitted by applicable law, upon the receipt of Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement Agreement, shall, as promptly as practicable, execute and applicable lawdeliver at its Corporate Trust Office, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges fees of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.09, and Exhibit B hereto) and of all taxes and governmental charges and fees fees, if any, payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Deposited Securities. The Depositary shall only not issue American Depositary Shares Receipts except in whole numbers accordance with this Section 2.03 and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit AgreementSections 2.04, 2.07, 2.09, 2.11, 4.03, 4.04 and 4.08.

Execution and Delivery of Receipts. The Depositary has made arrangements Upon receipt by any Custodian of any deposit in accordance with the Custodian to confirm to provisions of Section 2.02 (and, in addition, if the transfer books of the Company or the Foreign Registrar are open, the Depositary (i) may in its sole discretion require a proper acknowledgment or other evidence from the Company or the Foreign Registrar, as the case may be, that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee its nominee), together with the other documents required as specified above, such Custodian shall promptly notify the Depositary of either on the shareholders' register maintained by or on behalf such deposit and of the Company name or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books names of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts of the corresponding Series are deliverable in respect thereof thereof, the office of the Depositary at which such Receipts are to be delivered and the number of American Depositary Shares of the corresponding Series to be so delivered evidenced thereby. Such notification may shall be made by letterin writing and mailed, cablefirst class air mail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, or telex or facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, or upon receipt of Shares of such Series or Share Units by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement Agreement, shall, as promptly as practicable, execute and applicable law, shall issue the American Depositary Shares representing the Shares so deposited deliver at its Corporate Trust Office to or upon the order of the person(sperson or persons entitled thereto, (i) named a Receipt or Receipts of the Series of such deposited Shares or (ii) in the notice delivered case of a deposit of Share Units, a Receipt or Receipts of the Series corresponding to the Depositary and shall execute and deliver at its Principal Office Receipt(s) each Series of Shares comprising such Share Units, registered in the name(s) such name or names as requested by such person(s) and person or persons entitled thereto evidencing the aggregate number of American Depositary Shares to which of the corresponding Series requested by such person(s) are entitled, person or persons but only upon payment to the Depositary of the charges fees of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.09, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Deposited Securities. Delivery at offices other than the Depositary’s Corporate Trust Office shall be at the risk and the issuance expense of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreementperson requesting such delivery.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLJASDEC, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein in this Section 2.5 shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if anyCompany, if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCDP, (iii) that all required documents and approvals documents, if any, have been received, and (iv) the person(s) or entity(ies) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited and shall execute and Deliver at its Principal Office to or upon the order of the person(s) or entity(ies) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) or entity(ies) and evidencing the aggregate number of American Depositary Shares to which such person(s) or entity(ies) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.and

Execution and Delivery of Receipts. The Upon receipt by any Custodian of any deposit pursuant to Section 2.2 hereunder (and in addition, if the transfer books of the Issuer or the Foreign Registrar, if applicable, are open and if the Depositary has made arrangements with or its nominee or the Custodian has presented such certificates to confirm the Issuer or the Foreign Registrar and the Depositary so requires, a proper acknowledgment or other evidence from the Issuer or the appointed agent of the Issuer for transfer and registration of Shares which may but need not be the Foreign Registrar, as the case may be, satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities in registered form have been recorded upon the books of the Issuer or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the Foreign Registrar, if applicable, in the name of the DepositaryDepositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified and pursuant to Section 2.6, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts is or are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the DepositaryDepositary or its agent, subject to the terms and conditions of this Deposit Agreement shall execute and applicable lawdeliver at its Corporate Trust Office, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a certificated Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but but, in either case, (A) only upon payment to the Depositary or Custodian of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares deposited shares and (B) subject to the other terms of this Deposit Agreement and the issuance provisions of the Receipt(s)Articles and of the Deposited Securities. The Depositary shall Receipts may only issue be executed and delivered under this Section 2.3 evidencing five (5) American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit or any Pre-Release Transaction upon the terms set forth in this Deposit Agreementintegral multiple thereof.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares Eligible Securities has been made pursuant to Section 2.3 hereof, (ii) if registered Eligible Securities have been deposited , that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' ’ register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited Eligible Securities Registrar or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been receivedTaiwan Securities Central Depository, and (iviii) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cablefirst class airmail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares ADSs representing the Shares Eligible Securities so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Transfer Office. Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares ADSs to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares ADSs and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Eligible Securities and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares ADSs in whole numbers and deliver American Depositary Receipts ADRs evidencing whole numbers of American Depositary SharesADSs. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares Eligible Securities has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Eligible Securities Registrar if registered Shares Eligible Securities have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLTaiwan Securities Central Depository, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letterfirst class airmail letter postage prepaid, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmissiontransmission with confirmation of receipt. Upon receiving such notice from the Custodian, the Depositary, Depositary subject to the terms and conditions of this Deposit Agreement Agreement, applicable law and applicable lawthe provisions of the Articles of Incorporation of the Company and the Eligible Securities, shall issue the American Depositary Shares ADSs representing the Shares Eligible Securities so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares ADSs to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares ADSs and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Eligible Securities and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares ADSs in whole numbers and deliver American Depositary Receipts ADRs evidencing whole numbers of American Depositary SharesADSs. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made ---------------------------------- arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLNECIGEF, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, Custodian and subject to the terms and conditions of this Deposit Agreement and applicable law, the Depositary shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if anyCompany, if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCDP, (iii) that all required documents and approvals documents, if any, have been received, and (iv) the person(s) or entity(ies) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited and shall execute and Deliver at its Principal Office to or upon the order of the person(s) or entity(ies) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) or entity(ies) and evidencing the aggregate number of American Depositary Shares to which such person(s) or entity(ies) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if anyCompany, if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCDP, (iii) that all required documents and approvals documents, if any, have been received, and (iv) the person(s) or entity(ies) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited and shall execute and Deliver at its Principal Office to or upon the order of the person(s) or entity(ies) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) or entity(ies) and evidencing the aggregate number of American Depositary Shares to which such person(s) or entity(ies) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B B, hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Upon receipt by any Custodian of any deposit pursuant to Section 2.022.2 hereunder (and in addition, if the transfer books for Shares maintained byof the Issuer or the appointed agent of the Issuer for the registration of transfer of Shares, which may but need not be the Foreign Registrar, if applicable, are open and if required by law, the Depositary has made arrangements with may in its sole discretion require, a proper acknowledgment or other evidence from the Custodian to confirm Issuer or any such agent satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such so depositedthat any Deposited Securities have been recorded upon such transfer booksthe books of the Issuer or the Foreign Registrar, if applicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee its nominee), together with the other documents required as above specified, such Custodian shall notify the Depositary of either on the shareholders' register maintained by or on behalf such deposit and of the Company name or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books names of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered representedevidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter sent first class air mail postage prepaid or, at the request and, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from such Custodian, or upon the Custodianreceipt of Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited execute and deliver at its Corporate Trust Office, to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositaryentitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate representingevidencing any authorized number of American Depositary Shares to which as requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges feefees and expenses of the Depositary for accepting a depositthe execution and delivery of such Receipt or Receipts, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth provided in Section 5.9 5.9, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreementso depositedDeposited Securities.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if anyCompany, if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCDP, (iii) that all required documents and approvals documents, if any, have been received, and (iv) the person(s) or entity(ies) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited and shall execute and Deliver at its Principal Office to or upon the order of the person(s) or entity(ies) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) or entity(ies) and evidencing the aggregate number of American Depositary Shares to which such person(s) or entity(ies) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.payable

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLDTC, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Global Depositary Shares are deliverable in respect thereof and the number of American Global Depositary Shares to be so delivered therebydelivered. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Global Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Global Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Global Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Global Depositary Shares in whole numbers and deliver American Global Depositary Receipts evidencing whole numbers of American Global Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with Upon receipt by the Custodian of any deposit pursuant to confirm Section 2.02 (and in addition, if the transfer books of the Company (or the appointed agent or agents of the Company for transfer and registration of the Shares) are open, or if the Depositary so requires, a proper acknowledgment or other evidence from the Company (or the appointed agent or agents of the Company for transfer and registration of the Shares) satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the books of the Company (or by the appointed agent of the Company for transfer and registration of Shares) in the name of the DepositaryCustodian or nominee), together with the other documents and payments required as above specified, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit, the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts is or are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited execute and deliver at its Corporate Trust Office, to or upon the written order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a Receipt or Receipts registered in the name(s) requested by such person(s) name or names of, and evidencing the aggregate any authorized number of American Depositary Shares to which requested by, such person(s) are entitledperson or persons, but only upon payment to the Depositary by such person or persons of the charges fee of the Depositary for accepting a depositthe execution and delivery of such Receipt or Receipts, issuing American Depositary Shares and executing of all taxes, duties and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and other governmental charges and fees payable (whether by the Depositary, the Custodian or a nominee of either of them) in connection with such deposit and deposit, the transfer of the Shares Deposited Securities and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreementsuch Receipt or Receipts.

Execution and Delivery of Receipts. The Depositary has made shall make arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCCASS, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof2.3, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or (held by the Share Registrar, if any, Danish Securities Center or an appointed agent) if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLForeign Registrar (held by the Danish Securities Center or an appointed agent), (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary SharesReceipt or Receipts. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Upon receipt by any Custodian to confirm to the Depositary (i) that a of any deposit of Shares has been made pursuant to Section 2.3 hereof2.2 hereunder (and in addition, (ii) if the transfer books of the Company or the Foreign Registrar, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgment or other evidence from the Company that such any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar, if applicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee of either on its nominee), together with the shareholders' register maintained by or on behalf of other documents required as above specified, such Custodian shall notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from such Custodian, or upon the Custodianreceipt of Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited execute and deliver at its Corporate Trust Office, to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges fees and expenses of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.9, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Deposited Securities. The Depositary shall only issue American Depositary Shares in whole numbers execute and deliver American Depositary Receipts evidencing whole numbers only in accordance with the provisions of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement. The Depositary shall not deliver Shares hereunder, except upon the receipt and cancellation of Receipts, as permitted under Section 3.2, 4.3, 4.11 or 6.2 or in the case of a surrender to the Company or its agent in a transaction to which Section 4.8 applies.

Execution and Delivery of Receipts. The Depositary has made ---------------------------------- arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with Upon receipt by a Custodian of a deposit pursuant to Section 2.02 hereunder (and in addition, if the Custodian to confirm transfer books of the Company (or the appointed agent of the Company for the transfer and registration of the Class A Shares, which may but need not be VPC) are open, a proper acknowledgment or other evidence from the Company (or the appointed agent of the Company for transfer and registration of the Class A Shares, which may but need not be the VPC) satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the books of the Company (or the appointed agent of the Company for transfer and registration of the Class A Shares, which may but need not be the VPC) in the name of the Depositary, the Depositary or its Nominee or such Custodian or a nominee of either on its nominee}, together with the shareholders' register maintained by or on behalf of other documents required as above specified, such Custodian shall notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request and risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) to or upon the order of the person or persons named in the notice delivered to the Depositary, a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons and evidencing in the aggregate the number of American Depositary Shares to which such person(s) are person is entitled, but only upon payment to the Depositary of the charges fee of the Depositary for accepting a depositthe issuance, issuing American Depositary Shares execution and executing and delivering delivery of such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and on Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary deposited Class A Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Upon receipt by any Custodian to confirm to the Depositary (i) that a of any deposit of Shares has been made pursuant to Section 2.3 hereof2.2 hereunder (and in addition, (ii) if the registers of shareholders of the Company and Foreign Transfer Agent, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgment or other evidence from the Company that such any Deposited Securities have been recorded upon the registers of shareholders of the Company and Foreign Transfer Agent, if applicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee of either on its nominee), together with the shareholders' register maintained by or on behalf of other documents and payments required as specified above and pursuant to Section 2.6, such Custodian shall notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by air courier, cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, or upon the receipt of Shares by the Depositary, the Depositary or its agent, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited promptly execute and deliver at its Corporate Trust Office, to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but (A) only upon payment to the Depositary or Custodian of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the deposited Shares and (B) subject to the issuance other terms of this Deposit Agreement and the provisions of the Receipt(s)Company's Articles of Incorporation, Share Handling Regulations and of the Deposited Securities. The Depositary shall Receipts may only issue be executed and delivered under this Section 2.03 evidencing Ten (10) American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit or any Pre-Release Transaction upon the terms set forth in this Deposit Agreementintegral multiple thereof.

Execution and Delivery of Receipts. The Depositary has made arrangements with instructed the Custodian to confirm to the Depositary as promptly as practicable (i) that when a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the books of Monte Titoli, in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLeither, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, first class airmail postage prepaid, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall shall, as promptly as practicable, issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with Upon receipt by the Custodian to confirm to the Depositary (i) that a of any deposit of Shares has been made pursuant to Section 2.3 hereof2.2 hereunder (and in addition, (ii) if the transfer books of the Foreign Registrar, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgment or other evidence from the Foreign Registrar that such any Deposited Securities have been recorded upon the books of the Foreign Registrar, if applicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee of either on its nominee), together with the shareholders' register maintained by or on behalf of other documents required as above specified, such Custodian shall notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from such Custodian, or upon the Custodianreceipt of Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited execute and deliver at its Corporate Trust Office, to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges fees of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.9, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Deposited Securities. The Depositary shall only not issue American Depositary Shares Receipts except in whole numbers accordance with this Section 2.3 and deliver American Depositary Receipts evidencing whole numbers of American Depositary SharesSections 2.4, 2.9, 4.0, 4.4 and 4.8. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit AgreementSection 2.4.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' ’ register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or deposited, or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Upon receipt by any Custodian of any deposit pursuant to confirm Section 2.02 hereunder and upon receipt in form satisfactory to the Depositary of a proper acknowledgment or other evidence from the Company or the Russian Share Registrar (iincluding extracts from the Share Register) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded on the Share Register maintained by the Russian Share Registrar in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee of either on its nominee, together with the shareholders' register maintained by or on behalf of other documents required as specified in this Deposit Agreement, such Custodian shall notify the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement Agreement, shall, as promptly as practicable, execute and applicable lawdeliver at the Depositary's Office, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) person or persons entitled thereto, a Receipt or Receipts, registered in the name(s) requested by such person(s) name or names and evidencing the aggregate any authorized number of American Depositary Shares to which requested by such person(s) are entitledperson or persons, but only upon payment to the Depositary of the charges fees and expenses (a) of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.09, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Deposited Securities and (b) subject to the other terms of this Deposit Agreement and the issuance provisions of the Receipt(s)Charter of the Company and of the Deposited Securities. The Depositary shall only not issue American Depositary Shares Receipts except in whole numbers accordance with this Section 2.03 and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit AgreementSections 2.04, 2.07, 2.09, 4.03, 4.04 and 4.08 hereof.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCompanhia Brasileira de Liquidacao e Custodia, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLCompanhia Brasileira de Liquidacao e Custodia, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and and, if applicable, shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering any such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the any such Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and and, if applicable, deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares Eligible Securities has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Eligible Securities Registrar if registered Shares Eligible Securities have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLTaiwan Securities Central Depository Co. Ltd., (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification confirmation may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice confirmation from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement Agreement, applicable law and applicable lawthe provisions of the Articles of Incorporation of the Company and the Eligible Securities, shall issue the American Depositary Shares ADSs representing the Shares Eligible Securities so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B heretohereof) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Eligible Securities and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements (a) Upon receipt from the Custodian of confirmation that the Initial Deposit and delivery of the other documents specified in Section 2.02(a) have been duly made, the Depositary, subject to the terms and conditions of this Deposit Agreement, shall execute and deliver to DTC or its custodian the Master ADR evidencing the number of Book-Entry ADSs specified in the Initial Deposit Certificate as having been sold in connection with the Initial Deposit. In the case of any deposit of Shares other than the Initial Deposit, upon receipt by any Custodian of any deposit pursuant to confirm Section 2.02(b) hereunder (and in addition, if the transfer books of the Issuer or the Foreign Registrar, if applicable, are open and if the Depositary or its nominee or the Custodian has presented such certificates to the Issuer or the Foreign Registrar and the Depositary so requires, a proper acknowledgment or other evidence from the Issuer or the appointed agent of the Issuer for transfer and registration of Shares which may but need not be the Foreign Registrar, as the case may be, satisfactory to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities in registered form have been recorded upon the books of the Issuer or the appointed agent of the Issuer for transfer and registration of Shares, which may but need not be the Foreign Registrar, if applicable, in the name of the DepositaryDepositary or its nominee or such Custodian or its nominee), together with the other documents required as above specified and pursuant to Section 2.06, the Custodian or a nominee shall notify the Depositary of either on such deposit and the shareholders' register maintained by or on behalf name and DTC account number of the Company DTC participant or by participants to whose account(s) the Share RegistrarBook-Entry ADSs should be credited or, if any, if registered Shares have been deposited or if deposit is made by DTC's book-entry transfersettlement system is not then available for the Book-Entry ADSs as provided in Section 2.01(b), confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a certificated Receipt or Receipts for Physical ADSs is or are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the DepositaryDepositary or its agent, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue (a) if DTC's book-entry settlement system is then available for the American Depositary Shares representing Book-Entry ADSs (i) adjust its records to reflect such deposit so as to evidence the Shares so deposited aggregate number of Book-Entry ADSs then outstanding and (ii) instruct DTC to adjust its records to reflect such increase and credit the designated DTC participant account or accounts with such increase, or (b) if DTC's book-entry settlement system is not then available for Book-Entry ADSs as provided in Section 2.01(b), execute and deliver before the Effective Time outside the United States at the expense and risk of the person depositing such Shares, and at or after the Effective Time at its Corporate Trust Office, to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a certificated Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares Physical ADSs to which such person(s) person or persons are entitled, but but, in either case, (A) only upon payment to the Depositary or Custodian of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the deposited Shares and (B) subject to the other terms of this Deposit Agreement and the provisions of the Articles and of the Deposited Securities. Prior to the Effective Time, the Depositary shall neither execute nor deliver a Receipt nor adjust its records in respect of any deposit of Shares unless a Depositor Certificate in substantially the form appearing as Annex I hereto is provided to the Depositary by or on behalf of the person acquiring beneficial ownership of any American Depositary Share; provided, that such certification and agreement need not be given and made in connection with the Initial Deposit and the initial issuance of Receipts. The Depositary shall deliver a confirmation regarding the deposit of such Shares and the issuance of a Receipt or Receipt, or the Receipt(s). The Depositary shall only issue adjustment of its records to reflect such increase in the number of American Depositary Shares in whole numbers and deliver outstanding, as the case may be, to the person or persons to whom or to whose DTC participant account or accounts such American Depositary Receipts evidencing whole numbers Shares are delivered or credited, such confirmation to contain, inter alia, a notice with respect to the restrictions on the transfer of such Shares and American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon Shares substantially in the terms form of the legend set forth out in this Deposit AgreementSection 2.01(a).

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' ’ register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLJASDEC, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein in this Section 2.5 shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLShare Registrar, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' ’ register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements Upon receipt by any Custodian of any deposit in accordance with the Custodian to confirm to provisions of Section 2.02 (and, in addition, if the transfer books of the Company or the Foreign Registrar are open, the Depositary (i) may in its sole discretion require a proper acknowledgment or other evidence from the Company or the Foreign Registrar, as the case may be, that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee its nominee), together with the other documents required as specified above, such Custodian shall promptly notify the Depositary of either on the shareholders' register maintained by or on behalf such deposit and of the Company name or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books names of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts of the corresponding Series are deliverable in respect thereof thereof, the office of the Depositary at which such Receipts are to be delivered and the number of American Depositary Shares of the corresponding Series to be so delivered evidenced thereby. Such notification may shall be made by letterin writing and mailed, cablefirst class air mail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, or telex or facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, or upon receipt of Shares of such Series or Share Units by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement Agreement, shall, as promptly as practicable, execute and applicable law, shall issue the American Depositary Shares representing the Shares so deposited deliver at its Corporate Trust Office to or upon the order of the person(sperson or persons entitled thereto, (i) named a Receipt or Receipts of the Series of such deposited Shares or (ii) in the notice delivered case of a deposit of Share Units, a Receipt or Receipts of the Series corresponding to the Depositary and shall execute and deliver at its Principal Office Receipt(s) each Series of Shares comprising such Share Units, registered in the name(s) such name or names as requested by such person(s) and person or persons entitled thereto evidencing the aggregate number of American Depositary Shares to which of the corresponding Series requested by such person(s) are entitled, person or persons but only upon payment to the Depositary of the charges fees of the Depositary for accepting a deposit, issuing American Depositary Shares the execution and executing and delivering delivery of such Receipt(s) (Receipt or Receipts as set forth provided in Section 5.9 5.09, and Exhibit B hereto) and of all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Deposited Securities. Delivery at offices other than the Depositary's Corporate Trust Office shall be at the risk and the issuance expense of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreementperson requesting such delivery.

Execution and Delivery of Receipts. The Depositary has made arrangements with instructed the Custodian, upon receipt by the Custodian to confirm to the Depositary (i) that of a deposit of Shares has been made pursuant to Section 2.3 2.02 hereof, (ii) and in addition, if the transfer books of the Company or the Share Registrar, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgement or other evidence from the Company that such any Deposited Securities have been recorded upon the books of the Company or the Share Registrar, if applicable, in the name of the Depositary, the Custodian or a its nominee of either on the shareholders' register maintained by or on behalf of the Company Depositary or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDL, (iiiits nominee) that together with all other required documents and approvals have been receivedpayments required under this Deposit Agreement, to notify the Depositary of such deposit and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from such Custodian, or upon the Custodianreceipt of Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) to or upon the order of the person or persons named in the notice delivered to the Depositary, a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons and evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting making a deposit, issuing American Depositary Shares deposit and executing the issuance and delivering delivery of such Receipt(s) Receipt or Receipts (as set forth in Section 5.9 5.09 and Exhibit B hereto) and in respect of all applicable taxes (except insofar as already accounted for) and governmental charges and fees payable in connection with such deposit and the transfer of the Shares Deposited Securities and the issuance of the Receipt(s)Receipt or Receipts. The Depositary shall only not be required to issue American Depositary Shares in whole numbers and deliver American Depositary any fractional Receipts evidencing whole numbers of American Depositary or any Receipts for fractional Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that any such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by the FCSD or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation of such transfer of the Shares to the account of the Custodian in the books of the NSDLFCSD has taken place, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose order American Depositary Shares are deliverable in respect thereof and the number of American Depositary Shares to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT swift message or, at the risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue the American Depositary Shares representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) name or names requested by such person(s) and evidencing the aggregate number of American Depositary Shares to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers of American Depositary Shares. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.

Execution and Delivery of Receipts. The Depositary has made arrangements with After the Custodian to confirm to the Depositary (i) that a deposit of any Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary2.02, the Custodian or a nominee of either on shall notify the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, if registered Shares have been deposited or if deposit is made by book-entry transfer, confirmation Depositary of such transfer in deposit and the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a Receipt or Receipts are deliverable in respect thereof and the number of American Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cablefirst class airmail postage prepaid, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by cable, telex, facsimile transmission or other means of electronic transmissionSWIFT. Upon After receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable lawAgreement, shall issue execute and deliver at the American Depositary Shares representing the Shares so deposited Depositary's Office to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares to which such person(s) person or persons are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall execute and deliver Receipts only in accordance with this Section 2.03 and with Sections 2.04, 2.06, 4.02, 4.03 and 4.08. The Depositary may issue Receipts representing Restricted Securities upon receipt of proper instructions from the Company setting forth the details surrounding the issuance of such Restricted Securities, the restriction(s) placed thereon, and any legend required to be placed on the Receipts representing such Restricted Securities. Thereafter, upon the proper deposit of Shares with the Custodian, receipt by the Depositary of issuance instructions in proper form, and compliance with any other applicable provisions of the Deposit Agreement, the Depositary may issue Receipts ("Restricted Receipts") evidencing restricted American Depositary Shares ("Restricted ADSs") representing such Restricted Securities ("Restricted Receipts"). Until such time as the Depositary has received an opinion of U.S. counsel to the Company in whole numbers form and deliver substance reasonably satisfactory to counsel to the Depositary stating that, in connection with the resale of the restricted Receipts representing Restricted Securities, the Shares underlying such Restricted ADSs have been registered under the Securities Act or that such Restricted ADSs (as well as those Restricted ADSs issued on the transfer, split-up or combination thereof) may be freely transferred under Rule 144 or Rule 145 promulgated under the Securities Act of 1933 or another applicable exemption from the registration requirements thereof, any Restricted ADSs shall be issued in book-entry form with the restrictive legend, in the form provided by the Company, set forth on the books of the Depositary. Upon receipt of a legal opinion of U.S. counsel to the Company addressed, and in form and substance acceptable, to the Depositary, the Depositary shall remove the restrictive legend from the Restricted ADSs referred to in such opinion, and re-issue such Restricted ADSs in the form of unrestricted American Depositary Receipts evidencing whole numbers Shares through the Direct Registration System. Any costs or expenses incurred by the Depositary in connection with the deposit of American Depositary Shares. Nothing herein Restricted Securities and/or the issuance of Restricted ADSs shall prohibit any Pre-Release Transaction upon be borne by the terms set forth in this Deposit AgreementCompany.

Execution and Delivery of Receipts. The Depositary has made arrangements with the (a) Upon receipt by any Custodian to confirm to the Depositary (i) that a of any deposit of Shares has been made pursuant to Section 2.3 hereof2.02(b) hereunder (and in addition, (ii) if the transfer books of the Company or the Foreign Registrar, if applicable, are open, the Depositary may in its sole discretion require a proper acknowledgment or other evidence from the Company that such any Deposited Securities have been recorded upon the books of the Company or the Foreign Registrar, if applicable, in the name of the Depositary, the Depositary or its nominee or such Custodian or a nominee its nominee), together with the other documents and payments required as specified above and pursuant to Section 2.06, such Custodian shall notify the Depositary of either on such deposit and the shareholders' register maintained by or on behalf name and DTC account number of the Company DTC participant or by participants to whose account(s) the Share RegistrarBook-Entry Regulations S GDSs should be credited or, if any, if registered Shares have been deposited or if deposit is made by DTC's book-entry transfersettlement system is not then available for the Book-Entry Regulations S GDSs as provided in Section 2.01(b), confirmation of such transfer in the books of the NSDL, (iii) that all required documents and approvals have been received, and (iv) the person(s) person or persons to whom or upon whose written order American Depositary Shares a certificated Receipt or Receipts for Physical Regulation S GDSs are deliverable in respect thereof and the number of American Regulation S Global Depositary Shares to be so delivered evidenced thereby. Such notification may shall be made by letter, cable, telex, SWIFT message letter or, at the request, risk and expense of the person making the deposit, by air courier, cable, telex or facsimile or other means of electronic transmission. Upon receiving such notice from the such Custodian, the DepositaryDepositary or its agent, subject to the terms and conditions of this Regulation S Deposit Agreement and applicable lawAgreement, shall issue (a) if DTC's book-entry settlement system is then available for the American Depositary Shares representing Book-Entry Regulation S GDSs (i) adjust its records to reflect such deposit so as to evidence the Shares so deposited aggregate number of Book-Entry Regulations S GDSs then outstanding and (ii) instruct DTC to adjust its records to reflect such increase and credit the designated DTC participant account or accounts with such increase, or (b) if DTC's book-entry settlement system is not then available for Book-Entry Regulations S GDSs as provided in Section 2.01(b), execute and deliver outside the United States at the expense and risk of the person depositing such Shares, to or upon the order of the person(s) person or persons named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) Depositary, a certificated Receipt or Receipts, registered in the name(s) name or names requested by such person(s) person or persons, and evidencing in the aggregate the number of American Depositary Shares Physical Regulation S GDSs to which such person(s) person or persons are entitled, but but, in the either case, (A) only upon payment to the Depositary or Custodian of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the deposited Shares and (B) subject to the issuance other terms of this Regulation S Deposit Agreement and the provisions of the Receipt(s)Company's Articles of Association or Memorandum of Association and of the Deposited Securities. The Except in the case of the initial deposit of Shares by the Company, the Depositary shall only issue American neither execute nor deliver a Receipt nor adjust its records in respect of any deposit of Shares unless a Depositor Certificate in substantially the form appearing as Annex I hereto is provided to the Depositary Shares in whole numbers and deliver American Depositary Receipts evidencing whole numbers by or on behalf of American Depositary Shares. Nothing herein shall prohibit the person acquiring beneficial ownership of any Pre-Release Transaction upon the terms set forth in this Deposit AgreementGDS.

Execution and Delivery of Receipts. The Depositary has made arrangements with the Custodian to confirm to the Depositary (i) that a deposit of Shares has been made pursuant to Section 2.3 hereof, (ii) that such Deposited Securities have been recorded in the name of the Depositary, the Custodian or a nominee of either on the shareholders' register maintained by or on behalf of the Company or by the Share Registrar, if any, Registrar if registered Shares have been deposited or or, if deposit is made by book-entry transfer, confirmation of such transfer in the books of the NSDLSEGA, (iii) that all required documents and approvals have been received, and (iv) the person(s) to whom or upon whose order American Depositary Shares ADSs are deliverable in respect thereof and the number of American Depositary Shares ADSs to be so delivered thereby. Such notification may be made by letter, cable, telex, SWIFT message or, at the request, risk and expense of the person making the deposit, by facsimile or other means of electronic transmission. Upon receiving such notice from the Custodian, the Depositary, subject to the terms and conditions of this Deposit Agreement and applicable law, shall issue the American Depositary Shares ADSs representing the Shares so deposited to or upon the order of the person(s) named in the notice delivered to the Depositary and shall execute and deliver at its Principal Office Receipt(s) registered in the name(s) requested by such person(s) and evidencing the aggregate number of American Depositary Shares ADSs to which such person(s) are entitled, but only upon payment to the Depositary of the charges of the Depositary for accepting a deposit, issuing American Depositary Shares ADSs and executing and delivering such Receipt(s) (as set forth in Section 5.9 and Exhibit B hereto) and all taxes and governmental charges and fees payable in connection with such deposit and the transfer of the Shares and the issuance of the Receipt(s). The Depositary shall only issue American Depositary Shares ADSs in whole numbers and deliver American Depositary Receipts ADRs evidencing whole numbers of American Depositary SharesADSs. Nothing herein shall prohibit any Pre-Release Transaction upon the terms set forth in this Deposit Agreement.