By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Section 240.14a-11.
In accordance with Rule 13d-4 of the Securities Exchange Act of 1934, each of the persons filing this statement expressly disclaim the beneficial ownership of the securities covered by this statement and the filing of this report shall not be construed as an admission by such persons that they are the beneficial owners of such securities.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.
Dated: February 11, 2019
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ARGA Investment Management, L.P.
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By:
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/s/ Neda Clark
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Name: Neda Clark
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Title: Chief Compliance Officer
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By:
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/s/ Avula Rama Krishna
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Name: Avula Rama Krishna
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Exhibit I
The undersigned hereby agree as follows:
(i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and
(ii) Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.
Dated: February 11, 2019
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ARGA Investment Management, L.P.
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By:
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/s/ Neda Clark
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Name: Neda Clark
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Title: Chief Compliance Officer
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By:
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/s/ Avula Rama Krishna
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Name: Avula Rama Krishna
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ATTACHMENT A
1. Items 4(a) and (b) of Schedule 13G
As of December 31, 2018, the Funds and Separate Managed Accounts (collectively, Accounts) were the legal owner of 1,922,113 Level II American Depository Receipts, representing 7,688,452 ordinary shares (each ADR representing 4 ordinary shares). Based on there being 144,423,180 ordinary shares, as reported in Bloomberg as well as INDATDA iPM, our back office system which derives its numbers from an automatic feed from Thomson Reuters, the Accounts holdings represent approximately 5.32% of the outstanding ordinary shares. No individual account holds more than 5% of the outstanding ordinary shares.
The Manager serves as investment manager to the Accounts and has voting power over 417,302 ADR units and discretionary authority over 1,922,113 ADR units (7,688,452 ordinary shares) representing 5.32% of outstanding ordinary shares. Accordingly, the Manager may be deemed to be the beneficial owner of 5.32% of the outstanding ordinary shares.
Avula Rama Krishna owns a significant membership interest in the Manager and as such may be deemed to control shares held by the Manager by virtue of his interest in the Manager.
Each of the Reporting Persons disclaims beneficial ownership of the ADR units (and ordinary shares) of the Issuer held by the Accounts, except to the extent of any pecunicary interest therefrom, and this report shall not be deemed to be an admission that they are the beneficial owners of such securities.
2. Item 4(c) of Schedule 13G
As of December 31, 2018, each of the Reporting Persons may be deemed to have the power to vote or to direct the voting of 417,302 ADR units and/or to dispose or to direct the disposition of the 1,922,113 ADR units (7,688,452 ordinary shares) held by the Accounts.
Each of the Reporting Persons disclaims beneficial ownership of the shares of ADR units (and ordinary shares) of the Issuer held by the Accounts, except to the extent of any pecunicary interest therefrom, and this report shall not be deemed to be an admission that they are the beneficial owners of such securities.
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