1)

For the purposes of restructuring the Company pursuant to the provisions of paragraph (m), Clause (2) of Article (33) above, the Board may issue a decision dissolving the Company’s board of directors and forming a neutral committee to restructure the Company in accordance with Paragraph (d), Clause (2) of Article (33) above. The committee shall submit a monthly report, to the CBUAE on the progress of the restructuring procedures, or whenever requested by the CBUAE.

2)

For such purpose, the restructuring includes managing the Company and organizing its distressed financial affairs by negotiating with all its creditors to determine the Company’s debts and its repayment method by adopting a plan for the restructuring.

3)

The committee referred to in Clause (1) above shall publish an announcement in the Official Gazette for (3) three consecutive business days in two local daily newspapers, one of them published in Arabic, at the expense of the Company, which shall include an invitation to all creditors to submit statements of the amount of their debts, along with supporting documents, within a period not exceeding (30) thirty days from the date of publishing the last announcement. No statements submitted by any creditor may be accepted following the lapse of such period.