How will the securities transfer tax be paid to the ROC National Tax Administration in connection with any sale of shares in ADS form?
In connection with the sale of any ADSs representing his or her shares, the selling shareholder is required to pay a securities transfer tax to the ROC National Tax Administration equal to 0.3% of the gross sale price for such shares. In order to facilitate the Program, Citibank, as paying agent for the Program, after receiving the securities transfer tax payment from the selling shareholder, will make the payment on behalf of the selling shareholders after each Sale. Prior to signing the ADS Sale Agreement, each selling shareholder will be required to pay to Citibank an amount that is approximately the amount of securities transfer tax that would be payable in connection with a sale in ADS form of all of the shares that the selling shareholder proposes to sell, at a price equal to twice the recent price of the ADSs (the “Reference Price”). This mechanism allows for possible increases in the price of ADSs during the Sale Period. If the selling shareholder does not pay such amount to Ci
