(Jersey) The International Stock Exchange Authority - Continuing Obligations for Equities listed under Chapter 1 of TISEA Listing Rules

This memorandum has been prepared to inform the directors of their obligations on the listing of equities listed pursuant to Chapter 1 of The International Stock Exchange Authority Limited ("TISEA") listing rules (the "Listing Rules") so that the directors may satisfy themselves that they are complying with all the relevant requirements.

This memorandum is intended as an overview of the subject matter and should be used as a starting point for a more detailed and comprehensive discussion of the issues based on the particular circumstances or transactions envisaged.

Memos on other listing topics are also available on request.

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