Common use of Restriction on Disposal of Shares Clause in Contracts

Restriction on Disposal of Shares. Each of the Major Shareholders undertakes to each other and to the Company that, unless otherwise agreed by each Major Shareholder, it shall not at any time transfer or otherwise dispose of any Shares or of any interest in or option over any Shares in any case otherwise than (i) in accordance with Schedule 5 and the Articles or (ii) as part of a share offering conducted in connection with the Listing. Each of the Shareholders further undertakes to each other that it shall not create any Encumbrance over Shares held by it without the prior consent of the other Shareholders.

Restriction on Disposal of Shares. Each of the Major Shareholders undertakes to each other and to the Company that, unless otherwise agreed by each Major Shareholder, it shall not at any time transfer or otherwise dispose of any Shares or of any interest in or option over any Shares in any case otherwise than (i) in accordance with Schedule 5 and the Articles or (ii) as part of a share offering conducted in connection with the Listing. Each of the Shareholders further undertakes to each other that it shall not create any Encumbrance over Shares held by it without the prior consent of the other Shareholders.