Amendment to the articles of association regarding the status of a closed company to become a public company shall come into force from the effective date of the registration statement submitted to the supervisory agency in the capital market sector for public companies; or a public offering is carried out, for a Company submitting a registration statement to a supervisory agency in the capital market sector to conduct a public offering of shares in accordance with the provisions of laws and regulations in the capital market sector.

In the event that the Company’s registration statement submitted to the supervisory agency in the capital market sector for a Public Company does not become effective or the Company that has submitted a registration statement to the supervisory agency in the capital market sector to conduct a public offering of shares in accordance with the provisions of laws and regulations in the capital market sector does not carry out a public offering of shares, the Company must amend its articles of association within a period of 6 (six) months after the date of the Minister’s approval.

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