Memorandum and Articles of Association of Petroleum Development (Trucial Coast) Limited, and of Petroleum Development (Qatar) Limited [‎178r] (15/80)

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such branch or kind of business may have been actually commenced
or not, so long as the Directors may deem it expedient not to
commence or proceed with the same.
6. No part of the funds of the Company shall be employed
in the purchase of or in loans upon the security of the Company's
shares.
CAPITAL.
7. The capital of the Company is £100,100 divided into
100 "A" shares of £1 each, and 100,000 "B" shares of £1 each.
Save as hereinafter expressly mentioned the " A " shares and the
" B " shares shall rank pari passu as one class.
8. The Company in general meeting may from time to time
by resolution increase the capital by such sum to be divided into
shares of such amounts as the resolution shall prescribe.
9. The shares shall be at the disposal of the Directors, and
they may allot or otherwise dispose of them to such persons, at
such times, and on such terms as they think proper, without
prejudice to any special rights previously conferred on the holders
of any shares or class of shares then already issued (which special
rights shall not be modified or abrogated except with such consent
or sanction as is provided by Article 11) and any new shares created
on any increase of capital may be issued with such preferred deferred
or other special rights or such restrictions whether in regard to
dividend return of capital or participation in assets on a winding
up as the Company in general meeting may from time to time
determine.
10. All new shares shall be subject to the same provisions with
reference to the payment of calls lien transfer transmission forfeiture
and otherwise as the shares in the present capital and unless otherwise
provided in accordance with the last preceding Article the new shares
shall be ordinary shares.
MODIFICATION OF RIGHTS.
11. If at any time hereafter the capital of the Company shall
by reason of the issue of preference shares or otherwise come to
be divided into different classes of shares, the special rights attached
to any class may, either with the consent in writing of the holders
of three-fourths of the issued shares of the class, or with the sanction