Record : New articles of association (with amendments showing) for shareholder approval

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COMPANIES ACTS 1985 ANDACT2006

PUBLIC COMPANY LIMITED BY SHARES

NEW ARTICLES OF ASSOCIATION

OF

RECORD PLC

COMPANY NUMBER: 01927640

	CONTENTS
PRELIMINARY.......................................................................................................................................	1
1.	Exclusion of Table AOther Regulations..................................................................................	1
2.	Interpretation Article..............................................................................................................	1
3.	Company information ............................................................................................................	5
SHARE CAPITAL......................................................................................................................................
3.	Capital.......................................................................................................................................
4.	Rights attached to new shares ...............................................................................................	5
5.	Provisions relating to shares ..................................................................................................	6
6.	Control of Directors over shares ............................................................................................	7
7.	Underwriting commission and brokerage..............................................................................	7
ALTERATION OF SHARE CAPITAL.........................................................................................................	7
8.	Alteration of share capital......................................................................................................	7
9.	Fractions of shares..................................................................................................................	8
VARIATION OF CLASS RIGHTS..............................................................................................................	8
10.	Rights of various classes may be varied .................................................................................	8
11.	Creation orIssue of further shares.........................................................................................	9
SHARE CERTIFICATES ...........................................................................................................................	9
12.	Certificates..............................................................................................................................	9
13.	Additional certificates ..........................................................................................................	10
14.	Renewal of certificates .........................................................................................................	10
HOLDERS OF, AND INTERESTS IN, SHARES ........................................................................................	10
15.	Joint Holders of shares .........................................................................................................	10
16.	Trusts not recognised ...........................................................................................................	11
17.	Disclosure of Interests in Shares ..........................................................................................	11
UNCERTIFICATED SHARES .................................................................................................................	13
18.	Uncertificated Shares ...........................................................................................................	13
CALLS ON SHARES..............................................................................................................................	14
19.	Calls on shares ......................................................................................................................	14
20.	When call deemed to be made ............................................................................................	14
21.	Differences in amounts paid on shares ................................................................................	15
22.	Interest on calls in arrear......................................................................................................	15
23.	Instalments to be treated as calls ........................................................................................	15
24.	Payment in advance of calls .................................................................................................	15
FORFEITURE OF SHARES AND LIEN....................................................................................................	15
25.	Notice requiring payment of call or instalment ...................................................................	15
26.	What the notice is to state ...................................................................................................	15
27.	Forfeiture if notice not complied with .................................................................................	16
28.	Forfeited or surrendered shares the property of the Company ..........................................	16

29.	Liability to pay calls after forfeiture or surrender ................................................................	16
30.	Lien on partly paid shares.....................................................................................................	17
31.	Sale for lien...........................................................................................................................	17
32.	Application of proceeds........................................................................................................	17
33.	What necessary to give title to purchaser............................................................................	17
TRANSFER OF SHARES .......................................................................................................................	18
34.	Right to transfer shares ........................................................................................................	18
35.	Transfer of certificated shares..............................................................................................	19
36.	Transfers of uncertificated shares........................................................................................	19
37.	Power to refuse registration of transfers of certificated shares..........................................	19
38.	Power to refuse registration of transfers of uncertificated shares......................................	19
39.	Other provisions on transfers...............................................................................................	19
40.	Notice of refusal of transfer .................................................................................................	20
41.	Register may be closed.........................................................................................................	20
TRANSMISSION OF SHARES...............................................................................................................	20
42.	Persons recognised on death of Member ............................................................................	20
43.	Transmission.........................................................................................................................	20
44.	Limitation of rights before registration................................................................................	20
UNTRACED MEMBERS.......................................................................................................................	21
45.	Untraced Members ..............................................................................................................	21
46.	Proceeds of sale....................................................................................................................	22
GENERAL MEETINGS..........................................................................................................................	23
47.	Annual general meetings......................................................................................................	23
48.	Convening general meetings ................................................................................................	23
49.	Business at meeting called by requisition ............................................................................	23
NOTICE OF GENERAL MEETINGS .......................................................................................................	24
50.	Notice of general meeting....................................................................................................	24
51.	Recipients of Notices ............................................................................................................	24
52.	Contents of notice ................................................................................................................	24
53.	Statement as to proxies in notice.........................................................................................	24
54.	Omission to give notice ........................................................................................................	25
PROCEEDINGS AT GENERAL MEETINGS ............................................................................................	25
55.	Quorum ................................................................................................................................	25
56.	ChairmanChair......................................................................................................................	25
57.	Adjournment of general meetings .......................................................................................	25
58.	Adjournment with consent of meeting/by the ChairmanChair...........................................	26
59.	Notice of adjourned meeting ...............................................................................................	26
60.	FORM OF GENERAL MEETINGS ............................................................................................	26
60.	General meetings at more than one place...............................................................................

61.	Security arrangements at general meetings ........................................................................	30
62.	Voting at general meetings ..................................................................................................	30
63.	Amendments to resolutions.................................................................................................	31
64.	Poll........................................................................................................................................	31
65.	When poll taken without adjournment................................................................................	32
66.	Effectiveness of special resolutions......................................................................................	32
VOTES OF MEMBERS .........................................................................................................................	32
67.	Votes of members ................................................................................................................	32
68.	By receiver or curator...........................................................................................................	32
69.	Persons whose calls are unpaid not entitled to vote ...........................................................	33
70.	Objection to the qualification of a vote ...............................................................................	33
71.	Appointment of proxy ..........................................................................................................	33
72.	Any person may act as proxy................................................................................................	34
73.	Delivery of proxy ..................................................................................................................	34
74.	Votes by corporations ..........................................................................................................	36
DIRECTORS.........................................................................................................................................	36
75.	Number of Directors.............................................................................................................	36
76.	Director's share qualification ...............................................................................................	36
77.	Remuneration of Directors...................................................................................................	36
78.	Repayment of expenses .......................................................................................................	37
79.	Payment for duties outside scope of ordinary duties ..........................................................	37
POWERS AND DUTIES OF DIRECTORS ...............................................................................................	37
80.	Powers ..................................................................................................................................	37
81.	Pensions, etc.........................................................................................................................	37
82.	Employees ............................................................................................................................	38
83.	Subsidiaries...........................................................................................................................	38
84.	Attorneys ..............................................................................................................................	38
85.	Seal for use abroad...............................................................................................................	38
86.	Overseas Branch Register.....................................................................................................	38
87.	Authorisation of signatures and acceptances ......................................................................	39
DIRECTORS' INTERESTS......................................................................................................................	39
88.	Authorisation of Directors' conflicts of interest...................................................................	39
89.	Directors may hold other offices..........................................................................................	40
90.	Declarations of interest ........................................................................................................	41
91.	Acts of Directors valid although appointment defective .....................................................	42
VACATION OF OFFICE........................................................................................................................	42
DISQUALIFICATION OF DIRECTORS .......................................................................................................
92.	Disqualification.....................................................................................................................	42
ROTATION RE-ELECTIONOF DIRECTORS...........................................................................................	43

93.	Directors to retire by rotation..............................................................................................	43
94.	Election of Directors .............................................................................................................	43
95.	Notice of intention to propose a Director............................................................................	44
96.	If vacancies not filled............................................................................................................	44
97.	Power to fill casual vacancy..................................................................................................	44
98.	Removal of a Director by the Company in general meeting ................................................	44
ALTERNATE DIRECTORS.....................................................................................................................	45
99.	Directors may appoint an alternate Director .......................................................................	45
100.	Responsibility of alternate Director .....................................................................................	46
LOCAL AND OTHER DIRECTORS.........................................................................................................	46
101.	Power to appoint local Directors..........................................................................................	46
PROCEEDINGS OF DIRECTORS ...........................................................................................................	46
102.	Meetings and quorum ..........................................................................................................	46
103.	Voting ...................................................................................................................................	46
104.	Restrictions on Directors voting and counting in the quorum.............................................	47
105.	Summoning meetings...........................................................................................................	49
106.	Directors may act notwithstanding vacancy ........................................................................	49
107.	ChairmanChair......................................................................................................................	49
108.	Decisions in writing signed by all the Directors....................................................................	49
109.	Delegation to committees....................................................................................................	50
110.	Acts valid although appointment defective .........................................................................	50
EXECUTIVE DIRECTORS......................................................................................................................	50
111.	Power to appoint executive Directors..................................................................................	50
112.	Powers may be delegated ....................................................................................................	51
PRESIDENT.........................................................................................................................................	51
113.	President...............................................................................................................................	51
SECRETARY ........................................................................................................................................	51
114.	Secretary...............................................................................................................................	51
115.	Restriction on Powers of Director who holds Office as Secretary .......................................	51
116.	Authentication of Documents ..............................................................................................	51
MINUTES............................................................................................................................................	52
117.	Minutes to be made .............................................................................................................	52
SEAL	..............................................................................................................................................	52
118.	Seal and Sealing....................................................................................................................	52
119.	Borrowing powers and debentures......................................................................................	53
120.	Bonds, debentures, etc. to be subject to control of Directors.............................................	55
DIVIDENDS.........................................................................................................................................	55
121.	Payment of dividends...........................................................................................................	55
122.	Directors to recommend Company to declare dividend ......................................................	56