Drumz : Articles of Association – 29 November 2022

DRUMZ PLC

THE COMPANIES ACT 2006

PUBLIC COMPANY LIMITED BY

SHARES

ARTICLES OF ASSOCIATION

Adopted by special resolution on 29 November 2022

www.marriottharrison.co.uk

11 Staple Inn, London WC1V 7QH

1. [phone] DX 0001 London Chancery Lane

		Page 2
	CONTENTS
CLAUSE	PAGE
1	EXCLUSION OF MODEL ARTICLES (AND ANY OTHER PRESCRIBED REGULATIONS) 7
2	INTERPRETATION ........................................................................................	7
3	FORM OF RESOLUTION ..............................................................................	10
4	LIMITED LIABILITY ....................................................................................	10
5	CHANGE OF NAME .....................................................................................	10
6	POWER TO ATTACH RIGHTS TO SHARES ......................................................	10
7	SHARE CAPITAL, ALLOTMENT OF SHARES AND PRE-EMPTION.........................	10
8	REDEEMABLE SHARES ...............................................................................	12
9	PARI PASSU ISSUES ..................................................................................	12
10	VARIATION OF RIGHTS ..............................................................................	12
11	PAYMENT OF COMMISSION ........................................................................	12
12	TRUSTS NOT RECOGNISED ........................................................................	13
13	UNCERTIFICATED SHARES .........................................................................	13
14	SHARE CERTIFICATES ...............................................................................	14
15	REPLACEMENT CERTIFICATES.....................................................................	15
16	LIEN ON SHARES NOT FULLY PAID ..............................................................	15
17	ENFORCEMENT OF LIEN BY SALE ................................................................	15
18	APPLICATION OF PROCEEDS OF SALE..........................................................	16
19	CALLS......................................................................................................	16
20	LIABILITY OF JOINT HOLDERS ....................................................................	16
21	INTEREST ON CALLS .................................................................................	16
22	POWER TO DIFFERENTIATE ........................................................................	17
23	PAYMENT OF CALLS IN ADVANCE ................................................................	17
24	NOTICE IF CALL OR INSTALMENT NOT PAID .................................................	17
25	FORFEITURE FOR NON-COMPLIANCE ...........................................................	17
26	NOTICE AFTER FORFEITURE .......................................................................	17
27	FORFEITURE MAY BE ANNULLED .................................................................	18

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28	SURRENDER .............................................................................................	18
29	SALE OF FORFEITED SHARES .....................................................................	18
30	EFFECT OF FORFEITURE .............................................................................	18
31	EVIDENCE OF FORFEITURE.........................................................................	18
32	FORM OF TRANSFER ..................................................................................	18
33	RIGHT TO REFUSE REGISTRATION OF TRANSFER..........................................	19
34	NOTICE OF REFUSAL TO REGISTER A TRANSFER ..........................................	20
35	NO FEES ON REGISTRATION ......................................................................	20
36	EXIT PROVISIONS .....................................................................................	20
37	OTHER POWERS IN RELATION TO TRANSFERS..............................................	21
38	TRANSMISSION OF SHARES ON DEATH .......................................................	21
39	ELECTION OF PERSON ENTITLED BY TRANSMISSION ....................................	21
40	RIGHTS ON TRANSMISSION .......................................................................	21
41	DESTRUCTION OF DOCUMENTS ..................................................................	22
42	SUB-DIVISION..........................................................................................	23
43	FRACTIONS ..............................................................................................	23
44	ANNUAL GENERAL MEETINGS .....................................................................	23
45	CONVENING OF GENERAL MEETINGS ..........................................................	23
46	SIMULTANEOUS ATTENDANCE AND PARTICIPATION BY ELECTRONIC FACILITIES24
47	NOTICE OF GENERAL MEETINGS .................................................................	25
48	CONTENTS OF NOTICE OF GENERAL MEETINGS ............................................	25
49	OMISSION TO GIVE NOTICE AND NON-RECEIPT OF NOTICE ...........................	26
50	POSTPONEMENT OF GENERAL MEETING.......................................................	26
51	QUORUM AT GENERAL MEETING .................................................................	27
52	PROCEDURE IF QUORUM NOT PRESENT .......................................................	27
53	CHAIR OF GENERAL MEETING.....................................................................	27
54	ENTITLEMENT TO ATTEND, SPEAK AND PARTICIPATE ....................................	28
55	ADJOURNMENTS .......................................................................................	28
56	NOTICE OF ADJOURNMENT.........................................................................	29

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57	BUSINESS OF ADJOURNED MEETING ...........................................................	29
58	ACCOMMODATION OF MEMBERS, SECURITY ARRANGEMENTS AND ORDERLY
	CONDUCT AT GENERAL MEETINGS ..............................................................	29
59	OVERFLOW MEETING ROOMS .....................................................................	30
60	AMENDMENT TO RESOLUTIONS ..................................................................	30
61	MEMBERS' RESOLUTIONS ..........................................................................	31
62	METHOD OF VOTING .................................................................................	31
63	OBJECTION TO ERROR IN VOTING ..............................................................	32
64	PROCEDURE ON A POLL .............................................................................	32
65	VOTES OF MEMBERS .................................................................................	32
66	NO RIGHT TO VOTE WHERE SUMS OVERDUE ON SHARES ..............................	33
67	VOTING BY PROXY ....................................................................................	33
68	RECEIPT OF PROXY ...................................................................................	34
69	REVOCATION OF PROXY.............................................................................	36
70	CORPORATE REPRESENTATIVES..................................................................	36
71	FAILURE TO DISCLOSE INTERESTS IN SHARES.............................................	37
72	POWER OF SALE OF SHARES OF UNTRACED MEMBERS ..................................	39
73	APPLICATION OF PROCEEDS OF SALE OF SHARES OF UNTRACED MEMBERS	.... 40
74	NUMBER OF DIRECTORS ............................................................................	40
75	POWER OF COMPANY TO APPOINT DIRECTORS .............................................	40
76	POWER OF BOARD TO APPOINT DIRECTORS.................................................	40
77	ELIGIBILITY OF NEW DIRECTORS................................................................	40
78	RETIREMENT OF DIRECTORS ......................................................................	41
79	DEEMED RE-APPOINTMENT ........................................................................	41
80	PROCEDURE IF INSUFFICIENT DIRECTORS APPOINTED .................................	41
81	REMOVAL OF DIRECTORS...........................................................................	42
82	VACATION OF OFFICE BY DIRECTOR ...........................................................	42
83	RESOLUTION AS TO VACANCY CONCLUSIVE.................................................	43
84	APPOINTMENT OF ALTERNATE DIRECTORS...................................................	43

		Page 5
85	ALTERNATE DIRECTORS' PARTICIPATION IN BOARD MEETINGS......................	43
86	ALTERNATE DIRECTOR RESPONSIBLE FOR OWN ACTS...................................	43
87	INTERESTS OF ALTERNATE DIRECTOR .........................................................	43
88	REVOCATION OF ALTERNATE DIRECTOR ......................................................	44
89	DIRECTORS' FEES .....................................................................................	44
90	EXPENSES................................................................................................	44
91	ADDITIONAL REMUNERATION.....................................................................	44
92	REMUNERATION OF EXECUTIVE DIRECTORS ................................................	45
93	PENSIONS AND OTHER BENEFITS ...............................................................	45
94	POWERS OF THE BOARD ............................................................................	45
95	POWERS OF DIRECTORS IF LESS THAN MINIMUM NUMBER ............................	46
96	POWERS OF EXECUTIVE DIRECTORS ...........................................................	46
97	DELEGATION TO COMMITTEES ...................................................................	46
98	LOCAL MANAGEMENT ................................................................................	46
99	POWER OF ATTORNEY ...............................................................................	47
100	EXERCISE OF VOTING POWER ....................................................................	47
101	PROVISION FOR EMPLOYEES ON CESSATION OF BUSINESS ...........................	47
102	OVERSEAS REGISTERS ..............................................................................	47
103	BORROWING POWERS ...............................................................................	47
104	BOARD MEETINGS.....................................................................................	48
105	NOTICE OF BOARD MEETINGS ....................................................................	48
106	QUORUM ..................................................................................................	48
107	CHAIR .....................................................................................................	48
108	VOTING ...................................................................................................	49
109	PARTICIPATION BY TELEPHONE OR OTHER FORM OF COMMUNICATION...........	49
110	RESOLUTION IN WRITING ..........................................................................	49
111	PROCEEDINGS OF COMMITTEES .................................................................	49
112	MINUTES OF PROCEEDINGS .......................................................................	50
113	VALIDITY OF PROCEEDINGS .......................................................................	50