Section VI:
Shares to be taken by subscribers of Memorandum of Association.
Every subscriber of
the Memorandum of Association shall take one share at the least in the Company; the number of
shares taken by each subscriber shall be set opposite his name in such Memorandum of Association;
and upon the incorporation of the Company, he shall be entered in the Register of shareholders
hereinafter mentioned as a shareholders to the extent of the shares he has taken.