SHAREHOLDING PERCENTAGE

SHAREHOLDING PERCENTAGE. Shall mean, in relation to any Shareholder and at any time, means the total number of Ordinary Shares held by such Shareholder at that time (with Preference Shares counted as Ordinary Shares on a fully diluted and as-converted basis) expressed as a percentage of all the issued Ordinary Shares as at that time (with issued Preference Shares counted as issued Ordinary Shares on a fully diluted and as-converted basis);