Article 4 Conversion of old 3.5% stock

On the conversion date the old 3.5% stock shall become and be re-named “3.5% Ordinary Stock” and shall thereafter be included in a single class with the 3.5% Ordinary Stock.

The incidents attaching to the old 3.5% stock shall not be affected by the conversion effected by this article and except as provided by paragraph (1) the 3.5% Ordinary Stock shall in all respects be the same as the old 3.5% stock.

The Company shall take such steps as are reasonably necessary to notify stockholders of the conversion effected by this article, and may do such other acts of an administrative nature as appear to them to be desirable.

Without prejudice to paragraph (3), the Company shall amalgamate the registers of transfers and any other registers relating to the old 3.5% stock into a single register or group or registers relating to the 3.5% Ordinary Stock.

In addition to any period during which the directors of the Company may close a relevant register under section 5 of the 1986 Order (closing of transfer books), they may close the registers referred to in paragraph (4) for a period not exceeding 14 days at any time between the coming into force of this Order and the conversion date.

Where any transfer of the old 3.5% stock is lodged for registration with the Company at a time when any register of transfers is so closed, the transfer shall, as between the Company and the person claiming under the transfer but not otherwise, be deemed to be made on the date when that register is re-opened.

As from the conversion date each certificate of the old 3.5% stock shall be deemed to represent a holding of 3.5% Ordinary Stock to the same nominal value as the holding of old 3.5% stock shown on that certificate.