Common use of SHARE CAPITAL AND SHARES Clause in Contracts

SHARE CAPITAL AND SHARES. 1. The Subconcessionaire must maintain a share capital in an amount no less than MOP 200,000,000. 2. If due to the situation afterwards, it is necessary for the Chief Executive to order to increase the share capital, the Subconcessionaire must increase its share capital. 3. All share capital of the Subconcessionaire shall be represented by nominative shares. 4. The increase of share capital of the Subconcessionaire by means of public offering must be subject to the permission of the government. 5. The issuance of preferential shares by the Subconcessionaire must be subject to the permission of the government. 6. Without prejudice to the applicability of the preceding paragraph, the establishment or issuance of types or categories of shares representing the share capital of the Subconcessionaire or the transfer of such shares must be subject to the permission of the government. 7. The Subconcessionaire must take measures to ensure that all share capital of legal persons that hold shares of the Subconcessionaire, legal persons that hold capital contributions of the above legal person shareholders and so on up to the ultimate shareholders (both natural persons and legal persons) that hold capital contributions of the above shareholders shall be represented only by nominative shares, save that this paragraph shall not apply to a listed company’s shares that are traded on a stock market.

SHARE CAPITAL AND SHARES. 1. The Subconcessionaire Concessionaire must maintain a share capital in an amount no less than MOP 200,000,000. 2. If and when due to the situation afterwards, it is necessary for the Chief Executive to order to increase the share capital, the Subconcessionaire Concessionaire must increase its share capital. 3. All share capital of the Subconcessionaire Concessionaire shall be represented by nominative shares. 4. The increase of share capital of the Subconcessionaire Concessionaire by means of public offering must be subject to the permission of the government. 5. The issuance of preferential shares by the Subconcessionaire Concessionaire must be subject to the permission of the government. 6. Without prejudice to the applicability of the preceding paragraph, the establishment or issuance of types or categories of shares representing the share capital of the Subconcessionaire Concessionaire or the transfer change/transformation of such shares must be subject to the permission of the government. 7. The Subconcessionaire Concessionaire must take measures to ensure that all share capital of legal persons that hold shares of the SubconcessionaireConcessionaire, legal persons that hold capital contributions of the above legal person shareholders and so on up to the ultimate shareholders (both natural persons and legal persons) that hold capital contributions shares of the above shareholders shall be represented only by nominative shares, save that this paragraph shall not apply to the shares of a listed company’s shares company that are traded on a stock market.