INTERNATIONAL ART CENTER S.A.
(the "Company")

Minutes of a meeting of the Board of Directors of the Company, held at Mossfon Building, East 54?'1
Street, Panama, Republic of Panama, on 14th January, 2014.

NOTICE: Notice to this meeting was waived by all persons entitled thereto.

PRESENT: Mrs. Francis PEREZ, Mrs. Leticia MONTOYA and Mrs. Katia SOLANO,
being the majority of the members of the Board of Directors.

CHAIRMAN: Mrs. Francis PEREZ, in the absence of the President of the Company, was
elected Chairman of the meeting.

SECRETARY: Mrs. Leticia MONTOYA, Secretary of the Company, was elected
Secretary of the meeting.

The following resolutions were unanimously adopted:

RESOLVED: To cancel the share certi?cates 4 and 5, in the name of Mr. Ezra NAHMAD
and Mr. Hilal NAHMAD respectively, issued by the Company on 24th April,
2009.

RESOLVED: To authorise, as it is hereby authorised, the issuance of the share certi?cate ND 6,
in the name of Mr. Davide NAHMAD for 50 shares with a par value of 
100,00 each.

There being no further business to be transacted at this meeting it was declared closed, and in
witness thereof these Minutes have been issued on the date ?rst above written.

Francis Perez, Chairman Leti?cia Mdntoya, #cretarf/