DEADLINE FOR THE MODIFICATION OF BEARER SHARES

Solis, Endara DELGADO AND GUEVARA (SOLENDEG) informs his distinguished clientele that has been duly authorized by the Supreme Court of the Republic of Panama to act as local custodian of bearer shares authorized, in compliance with laid down by Law 47 of August 6, 2013, Law 18 of April 23, 2015 and Agreement 307 of 24 April 2015 adopted by the Fourth Chamber of General Affairs of the Supreme Court. This new regime came into rigor the May 4, 2015, by which the bearer shares issued before or after the entry into force of the stated Law shall It is guarded by a duly authorized, thus fulfilling the legal regulations agent. We inform our customers that despite this provision must be certain that there remain issues of bearer shares since the Act also allows you immobilize their shares through custodian agents, as we are. However some local banks do not accept Emissions Law Societies of bearer shares. For this it is necessary for the amendment of the social pact despite the law 18, which states that all social agreements which allow the issuance of bearer shares are requested amended to 31/12/2015.