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Memorandum of Association of ASTUTE PMC SERVICES - FZCO.
1. The name is ASTUTE PMC SERVICES - FZCO (the “FZCO”).
2. The registered office of the FZCO will be situated in the IFZA Dubai area within Dubai
Silicon Oasis (”IFZA Dubai”).
3. The objects for which the FZCO is established are:
a. To carry on all such business within the area of in the IFZA Dubai in the Free Zone
as the Dubai Silicon Oasis Authority (the “Authority”) may permit under the terms
of the License issued in respect of the FZCO.
b. To carry on any other trade or business which can, in the opinion of the board of
Directors, and subject to the Authority’s approval, be advantageously carried on by
the FZCO in connection with or as ancillary to any of the above business or the
general business of the FZCO.
4. The Shareholders of the FZCO shall consist of not less than one (1) person and not more
than ten (10) persons, and subject to such rules and regulations amended and/or issued by
the Authority from time to time.
5. The liability of a Shareholder shall be limited to the unpaid contribution towards the shares
held by the Shareholder in the FZCO.
6. Any provisions of clauses of this Memorandum of Association may be amended, modified,
varied, altered, changed or substituted by shareholders resolution.
7. The FZCO shall have a separate legal personality wholly distinct from that of its
shareholders and any liability of the Shareholders for the debts or obligations of the FZCO
shall be limited to a Shareholder’s unpaid contribution towards the shares held in the
FZCO by that shareholder.
8. If Articles of Association of the FZCO are not registered, the Implementing Regulations No.
(1 /2006) Issued pursuant to Law No. (7) of 2004 as amended by Law No. (16) of 2005 by
H.H Maktoum Bin Rashid Al Maktoum, Ruler of Dubai, and the UAE Federal Law No. (2) of
2015 Regarding Commercial Companies and its Amendments will govern and regulate the
FZCO.