An issuer must:

(1) accept for registration transfers of the issuer's securities executed on a standard form of transfer approved by the Exchange or on such other form as may be approved by the Exchange;
(2) issue certificates in requested denominations when requested by the transferee at the time of lodgement of registrable transfers;
(3) despatch within 10 market days after the day of lodgement of a registrable transfer, a certificate in respect of such securities and a balance certificate for any remainder;
(4) when so requested by the transferee at the time of lodgement of a registrable transfer, despatch the certificate in respect of those securities to the lodging broker;
(5) not refuse to register or fail to register or give effect to any registrable transfer in respect of securities issued by the issuer unless:
(a) registration of the transfer would result in a contravention of or failure to observe Singapore laws or the rules and requirements of the Exchange; or
(b) the transfer is in respect of a partly paid security for which a call has been made and is unpaid;
(6) endorse (where necessary) transfer forms with the notation "power of attorney exhibited" or "probate exhibited" on production of the proper documents and do so without charge;
(7) split certificates within 5 market days or certify transfers within 2 market days on lodgement of the relevant certificates as follows:

"Certificate No. . ...... is held in the Company's office against this transfer No.
.......................... for ........................ on the .............. Register. This transfer must be completed and returned within forty-two days from this date, .......

Name of Company
Official Signature(s)"
(8) split provisional allotment letters within 2 market days.

Amended on 29 September 201129 September 2011.