PME is an Isle of Man incorporated company and as such the rights and obligations of shareholders may vary from those of a UK incorporated company. The group operates principally from Isle of Man and various countries in Africa. Except as stated below, shares in PME are not subject to any restriction in respect of transfer and are transferable free of charge.
The Directors may refuse to accept a transfer of the company’s shares (other than pursuant to a normal stock exchange transaction) if they believe that the transfer was executed where:
the shareholder concerned did not act of his own volition;
the transfer was executed pursuant to a confiscating or expropriatory act of a foreign authority; or
the transfer was executed pursuant to compulsory transfer under the laws of a foreign jurisdiction for no consideration or for a consideration which would be regarded as inadequate in normal business practice.
Shares held in certificated form may be transferred by written transfer in a form acceptable to the directors of PME. Shares held in uncertificated form may be transferred in accordance with the practices of the relevant system. Any written instrument of transfer must be signed by or on behalf of the transferor and the transferee. The registration of transfer of shares may be suspended and the share register closed for not more than 30 days in any year.