1. The Company has the right, within the limits of its paid-up capital and based on a Special Resolution issued by General Assembly, to issue bonds or tradeable sukuk, whether convertible or not, with equal value for each issuance. In case the issuance of bonds or sukuk is more than the Company’s paid up capital, Authority approval shall be required. The Special Resolution in relation thereto may include an authorization to the Board to determine the date of bonds or sukuk issuance, provided that duration shall not exceed one year from the authorization approval. The capital shall be paid in full by the shareholders and at least one-year financial statements and profit/loss accounts are published, unless the issuance is sponsored by the state or any of the banks operating in the Country.

2. Bonds or sukuk provides its holders’ equal rights. Bonds or sukuk may be converted into shares provided that the issuance prospectus authorizes the same. In case the conversion is approved, the bond/sakk owner alone has the right to accept the conversion or receive the nominal value of the bond or the sakk. The bond or the sakk shall remain nominal until fully paid.