Clipper Logistics : Proposed New Articles of Association (PDF)

Registered Number: 3042024

PROPOSED NEW ARTICLES OF ASSOCIATION -

SUBJECT TO APPROVAL AT THE 2021 ANNUAL

GENERAL MEETING ON 12 OCTOBER 2021

ARTICLES OF ASSOCIATION OF CLIPPER

LOGISTICS PLC

	CONTENTS
1	EXCLUSION OF OTHER REGULATIONS .................................................................	1
2	DEFINITIONS AND INTERPRETATION.....................................................................	1
3	REGISTERED OFFICE...............................................................................................	5
4	LIMITED LIABILITY.....................................................................................................	5
5	CHANGE OF NAME ...................................................................................................	5
6	SHARE CAPITAL........................................................................................................	5
7	VARIATION OF RIGHTS ............................................................................................	6
8	SHARES IN UNCERTIFICATED FORM .....................................................................	6
9	SHARE CERTIFICATES.............................................................................................	8
10	LIEN ............................................................................................................................	9
11	CALL ON SHARES .....................................................................................................	9
12	FORFEITURE ...........................................................................................................	11
13	TRANSFER OF SHARES .........................................................................................	12
14	TRANSMISSION OF SHARES .................................................................................	13
15	ALTERATION OF SHARE CAPITAL ........................................................................	14
16	PURCHASE OF OWN SHARES...............................................................................	15
17	GENERAL MEETINGS .............................................................................................	15
18	NOTICE OF GENERAL MEETINGS.........................................................................	16
19	POSTPONEMENT OF GENERAL MEETINGS ........................................................	18
20	PROCEEDINGS AT GENERAL MEETINGS ............................................................	18
21	VOTES OF MEMBERS.............................................................................................	22
22	POWERS OF THE BOARD ......................................................................................	28
23	BORROWING POWERS ..........................................................................................	29
24	NUMBER AND QUALIFICATION OF DIRECTORS .................................................	32
25	ELECTION, APPOINTMENT AND RETIREMENT BY ROTATION ..........................	32
26	RESIGNATION AND REMOVAL OF DIRECTORS ..................................................	34
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27	VACATION OF OFFICE............................................................................................	35
28	REMUNERATION OF DIRECTORS .........................................................................	35
29	CHIEF EXECUTIVE, MANAGING AND EXECUTIVE DIRECTORS ........................	36
30	ASSOCIATE AND OTHER DIRECTORS .................................................................	37
31	DIRECTORS' GRATUITIES AND PENSIONS..........................................................	37
32	ALTERNATE DIRECTORS.......................................................................................	37
33	PROCEEDINGS OF THE BOARD............................................................................	38
34	DIRECTORS' INTERESTS .......................................................................................	40
35	DIRECTORS' INTERESTS OTHER THAN IN RELATION TO TRANSACTIONS OR
	ARRANGEMENTS WITH THE COMPANY ..............................................................	40
36	SECRETARY ............................................................................................................	43
37	MINUTES ..................................................................................................................	44
38	THE SEAL.................................................................................................................	44
39	ACCOUNTING RECORDS, BOOKS AND REGISTERS ..........................................	44
40	AUDIT .......................................................................................................................	45
41	AUTHENTICATION OF DOCUMENTS.....................................................................	45
42	RECORD DATES......................................................................................................	46
43	DIVIDENDS...............................................................................................................	46
44	RESERVES...............................................................................................................	50
45	CAPITALISATION OF PROFITS ..............................................................................	50
46	NOTICES ..................................................................................................................	51
47	UNTRACED MEMBERS ...........................................................................................	55
48	DESTRUCTION OF DOCUMENTS ..........................................................................	57
49	WINDING-UP ............................................................................................................	58
50	INDEMNITY ..............................................................................................................	58
51	INSURANCE .............................................................................................................	59
52	NOMINATION NOTICES ..........................................................................................	59

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Registered Number: 3042024

THE COMPANIES ACT 2006

ARTICLES OF ASSOCIATION

of

CLIPPER LOGISTICS PLC

(Adopted by Special Resolution passed on 15 May 2014 and amended by special

resolution on 12 October 2021)

1. EXCLUSION OF OTHER REGULATIONS
   This document comprises the articles of association of the Company and no regulations set out in any statute or statutory instrument concerning companies including, without prejudice to such generality, the regulations contained in the Companies (Model Articles) Regulations 2008, shall apply as articles of association of the Company.
2. DEFINITIONS AND INTERPRETATION

2.1 In these Articles, the following expressions have the following meanings unless the context otherwise requires.

"Act" means the Companies Acts (as defined in section 2 of the Companies Act 2006), insofar as they apply to the Company.

"address" means in relation to electronic communications, includes any number or address (including, in the case of any Uncertificated Proxy Instruction permitted in accordance with these Articles, an identification number of a participant in the Relevant System concerned) used for the purposes of such communications.

"Articles" means these articles of association as altered from time to time.

"auditors" means the auditors for the time being of the Company.

"Board" means the board of directors of the Company or the Directors present at a duly convened meeting of the Directors at which a quorum is present.

"clear days" means in relation to the period of a notice, that period calculated in accordance with section 360 of the Act.

"communication" has the same meaning as in section 15 of the Electronic Communications Act.

"Company" means Clipper Logistics Plc.

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"Company's website" means the web site, operated or controlled by the Company, which contains information about the Company in accordance with the Statutes.

"competent authority" means the designated competent authority for the purposes of Part VI of FSMA.

"Daily Official List" means the publication issued daily by the London Stock Exchange of share prices of listed securities.

"Directors" means the directors of the Company for the time being.

"elected" means elected or re-elected.

"electronic address" means any number or address used for the purposes of sending or receiving notices, documents or information by electronic means.

"electronic communication" has the same meaning as in section 15 of the Electronic Communications Act.

"electronic facility" means without limitation, website addresses and conference call systems, and any device, system, procedure, method or other facility whatsoever providing an electronic means of attendance at or participation in (or both attendance at and participation in) a general meeting determined by the Board.

"electronic means" has the same meaning as in the Act.

"Electronic Communications Act" means the Electronic Communications Act 2000 (as amended from time to time).

"FSMA" means the Financial Services and Markets Act 2000 (as amended from time to time).

"group" means the Company and its subsidiary undertakings for the time being.

"holder" in relation to shares, the member whose name is entered in the register as the holder of the shares.

"in electronic form" means in a form specified by section 1168(3) of the Act and otherwise complying with the provisions of that section.

"Information Rights" has the meaning given to such expression in section 146(3) of the Act.

"London Stock Exchange" means London Stock Exchange plc. "member" means a member of the Company.

"month" means calendar month.

"Nomination Notice" means a notice given by a member to the Company that another person is entitled to enjoy Information Rights and to receive Shareholder Information which that member is entitled to enjoy or to receive.

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