<SEC-DOCUMENT>0001193125-19-270752.txt : 20191021
<SEC-HEADER>0001193125-19-270752.hdr.sgml : 20191021
<ACCEPTANCE-DATETIME>20191021151309
ACCESSION NUMBER:		0001193125-19-270752
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20191021
FILED AS OF DATE:		20191021
DATE AS OF CHANGE:		20191021

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PagSeguro Digital Ltd.
		CENTRAL INDEX KEY:			0001712807
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38353
		FILM NUMBER:		191159550

	BUSINESS ADDRESS:	
		STREET 1:		CONYERS TRUST COMPANY (CAYMAN) LIMITED
		STREET 2:		CRICKET SQUARE, HUTCHINS DRIVE, POB 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111
		BUSINESS PHONE:		55 11 3038 8127

	MAIL ADDRESS:	
		STREET 1:		CONYERS TRUST COMPANY (CAYMAN) LIMITED
		STREET 2:		CRICKET SQUARE, HUTCHINS DRIVE, POB 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d820795d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:34%">&nbsp;</P></center> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="margin-top:16pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF FOREIGN PRIVATE ISSUER </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">RULE&nbsp;13a-16&nbsp;OR&nbsp;15d-16&nbsp;UNDER</FONT></FONT>
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>For the month of October 2019 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-38353</FONT> </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:34%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>PagSeguro Digital Ltd. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">(Name of Registrant) </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Av.
Brigadeiro Faria Lima, 1384, 4&ordm; andar, parte A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>S&atilde;o Paulo, SP, <FONT STYLE="white-space:nowrap">01451-001,</FONT> Brazil
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>+55 (11) 3038-8127 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">(Address of Principal Executive Office) </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:34%">&nbsp;</P></center> <P STYLE="margin-top:24pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:Times New Roman">Indicate by
check mark whether the registrant files or will file annual reports under cover <FONT STYLE="white-space:nowrap">of&nbsp;Form&nbsp;20-F</FONT> or <FONT STYLE="white-space:nowrap">Form&nbsp;40-F.</FONT> </P>
<P STYLE="font-size:20pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" ALIGN="right">Form <FONT STYLE="white-space:nowrap">20-F</FONT> &#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form <FONT STYLE="white-space:nowrap">40-F</FONT> &#9744;</TD></TR>
</TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; text-indent:5%; font-size:11pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the
<FONT STYLE="white-space:nowrap">Form&nbsp;6-K&nbsp;in</FONT> paper as permitted by <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-T&nbsp;Rule</FONT> 101(b)(1): </P> <P STYLE="font-size:20pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" ALIGN="right">Yes &#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">No &#9746;</TD></TR>
</TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the
<FONT STYLE="white-space:nowrap">Form&nbsp;6-K&nbsp;in</FONT> paper as permitted by <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-T&nbsp;Rule</FONT> 101(b)(7): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" ALIGN="right">Yes &#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">No &#9746;</TD></TR>
</TABLE>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>INCORPORATION BY REFERENCE </B></P>
<P STYLE="margin-top:14pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:Times New Roman">This current report is incorporated by reference in our registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;F-3</FONT> filed
with the U.S. Securities and Exchange Commission, or the SEC, on October&nbsp;15, 2019 (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-234188),</FONT> and shall be deemed to be a part thereof from the date on which this current report is
furnished to the SEC, to the extent not superseded by documents or reports subsequently filed or furnished. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:11pt; font-family:Times New Roman; "><B>Exhibit</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #7f7f7f"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d820795dex51.htm">Opinion of Conyers Dill&nbsp;&amp; Pearman, Cayman Islands legal counsel of the Registrant. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" NOWRAP>23.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d820795dex51.htm">Consent of Conyers Dill&nbsp;&amp; Pearman, Cayman Islands legal counsel of the Registrant (included in Exhibit&nbsp;5.1). </A></TD></TR>
</TABLE></DIV>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:11pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Date: October&nbsp;21, 2019 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" COLSPAN="3"><B>PagSeguro Digital Ltd.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="40"></TD>
<TD HEIGHT="40" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:11pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Eduardo
Alcaro&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" COLSPAN="3">Name: Eduardo Alcaro</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top" COLSPAN="3">Title: Chief Financial and Investor Relations Officer, Chief Accounting Officer and Director</TD></TR>
</TABLE></DIV>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>d820795dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD WIDTH="43%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="middle">


<IMG SRC="g820795g43l07.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#003a5d"><B>CONYERS DILL&nbsp;&amp; PEARMAN</B></FONT></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">SIX, 2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> Floor, Cricket Square</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">PO
Box 2681, Grand Cayman <FONT STYLE="white-space:nowrap">KY1-1111</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">Cayman Islands</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL">T +1 345 945 3901</P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL"><FONT COLOR="#003a5d"><B>conyers.com</B></FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="51%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">21&nbsp;October 2019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">PagSeguro Digital Ltd.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Av. Brigadeiro Faria Lima, 1384</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">4&ordm; andar, parte A</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">S&atilde;o Paulo, SP,
<FONT STYLE="white-space:nowrap">01451-001</FONT></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL">Brazil</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">Matter No: 712166</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">Legal &#150;
16178819.3</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:ARIAL" ALIGN="right">+1 345 814 7759</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:ARIAL" ALIGN="right">richard.fear@conyers.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Dear Sirs </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Re:</B>&nbsp;&nbsp;<B>PagSeguro
Digital Ltd. </B>(the &#147;<B>Company</B>&#148;) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">We have acted as special Cayman Islands legal counsel to the Company in connection with the
offering by Universo Online S.A. (the &#147;<B>Selling Shareholder</B>&#148;) of 16,750,000 of the Company&#146;s Class&nbsp;A common shares, par value US$0.000025 each (the &#147;<B>Shares</B>&#148;), pursuant to the automatic shelf registration
statement on Form <FONT STYLE="white-space:nowrap">F-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-234188),</FONT> including the related base prospectus (the &#147;<B>Base Prospectus</B>&#148;) and all amendments or supplements
thereto (the &#147;<B>Registration Statement</B>&#148;, which term does not include any other document or agreement whether or not specifically referred to therein or attached as an exhibit or schedule thereto), originally filed with the U.S.
Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;) on 15&nbsp;October 2019, as supplemented by the Preliminary Prospectus Supplement dated as of 15&nbsp;October 2019 and the Final Prospectus Supplement dated as of 16&nbsp;October
2019 (together with the Preliminary Prospectus Supplement, the &#147;<B>Prospectus Supplements</B>&#148;), each provided to us and as filed by the Company with the Commission pursuant to the U.S. Securities Act of 1933, as amended (the
&#147;<B>Securities Act</B>&#148;). Pursuant to the underwriting agreement dated 16&nbsp;October 2019 (the &#147;<B>Underwriting Agreement</B>&#148;) between the Company, the Selling Shareholder and Goldman Sachs&nbsp;&amp; Co. LLC and Morgan
Stanley&nbsp;&amp; Co. LLC, as representatives of the underwriters listed on Schedule I thereto (the &#147;<B>Underwriters</B>&#148;), the Underwriters also have the option to purchase not more than an additional 2,512,500 Class&nbsp;A common shares
(the &#147;<B>Additional Shares</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the purposes of giving this opinion, we have examined an electronic copy of the Registration
Statement. We have also reviewed (i)&nbsp;the amended and restated memorandum and articles of association of the Company adopted by shareholder resolution dated 4&nbsp;January 2018 (the &#147;<B>Amended M&amp;A</B>&#148;); (ii) minutes of meetings
of the directors of the Company (the &#147;<B>Board</B>&#148;) dated 11&nbsp;October 2019 and minutes dated 11&nbsp;October 2019, 16&nbsp;October 2019 and 18&nbsp;October 2019 of meetings of the members of the offering committee appointed by the
Board with authority to approve the Registration Statement, the Prospectus Supplements, offering of the Shares and incidental matters related thereto (together, the &#147;<B>Resolutions</B>&#148;); (iii) a Certificate of Good Standing issued by the
Registrar of Companies in relation to the Company on 18&nbsp;October 2019 (the &#147;<B>Certificate</B> <B>Date</B>&#148;); (iv) the Underwriting Agreement; and (v)&nbsp;such other documents and made such enquiries as to questions of law as we have
deemed necessary in order to render the opinion set forth below. </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">We have assumed (a)&nbsp;the genuineness and authenticity of all signatures and the conformity to the
originals of all copies (whether or not certified) examined by us and the authenticity and completeness of the originals from which such copies were taken; (b)&nbsp;that where a document has been examined by us in draft form, it will be or has been
executed and/or filed in the form of that draft, and where a number of drafts of a document have been examined by us all changes thereto have been marked or otherwise drawn to our attention; (c)&nbsp;the accuracy and completeness of all factual
representations made in the Registration Statement, the Prospectus Supplements and other documents reviewed by us, other than those dealing with matters of Cayman Islands law; (d)&nbsp;that the Resolutions were passed at one or more duly convened,
constituted and quorate meetings, or by unanimous written resolutions, in compliance with the Company&#146;s memorandum and articles of association in effect at the time and remain in full force and effect and have not been rescinded or amended; and
(e)&nbsp;that there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would have any implication in relation to the opinions expressed herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">We have made no investigation of and express no opinion in relation to the laws of any jurisdiction other than the Cayman Islands. This opinion is to be
governed by and construed in accordance with the laws of the Cayman Islands and is limited to and is given on the basis of the current law and practice in the Cayman Islands. This opinion is issued solely for the purposes of the filing of the
Registration Statement and the offering of the Shares as described in the Registration Statement and the Prospectus Supplements and is not to be relied upon in respect of any other matter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">On the basis of and subject to the foregoing, we are of the opinion that: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="justify">The Company is duly incorporated and existing under the laws of the Cayman Islands and, based on the Certificate of
Good Standing, is in good standing as at the Certificate Date (meaning solely that it has not failed to make any filing with any Cayman Islands government authority or to pay any Cayman Islands government fee which would make it liable to be struck
off the Register of Companies and thereby cease to exist under the laws of the Cayman Islands). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="justify">When transferred by the Selling Shareholder, the transfer thereof recorded in the register of members of the Company
and paid for as described in the Registration Statement, the Prospectus Supplements and the Underwriting Agreement, the Shares (which are shares that were Class&nbsp;B common shares and, prior to the date hereof were converted into Class&nbsp;A
common shares by the Selling Shareholder in accordance with the Amended M&amp;A) will remain legally issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> (meaning that no further sums are payable to the Company on such
Shares). </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="6%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:ARIAL; " ALIGN="justify">When the Additional Shares are transferred by the Selling Shareholder, the transfer thereof recorded in the register
of members of the Company and paid for as described in the Registration Statement, the Prospectus Supplements and the Underwriting Agreement, the Additional Shares (which are shares that are Class&nbsp;B common shares and, prior to the relevant
closing date will be converted into Class&nbsp;A common shares by the Selling Shareholder in accordance with the Amended M&amp;A) will remain legally issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> (meaning that no
further sums are payable to the Company on such Shares). </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and the Prospectus Supplements and to the references to our firm under the caption &#147;Enforceability of Civil Liabilities&#148; and elsewhere in the Base Prospectus forming a part of the Registration Statement and
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#003a5d"><B>conyers.com
| 2 </B></FONT></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">
under the caption &#147;Validity of Securities&#148; and elsewhere in the Prospectus Supplements. In giving this consent, we do not hereby admit that we are experts within the meaning of
Section&nbsp;11 of the Securities Act or that we are within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the Rules and Regulations of the Commission promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Yours faithfully </P> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><U>/s/ Conyers Dill&nbsp;&amp;
Pearman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Conyers Dill&nbsp;&amp; Pearman</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="right"><FONT COLOR="#003a5d"><B>conyers.com
| 3 </B></FONT></P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g820795g43l07.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g820795g43l07.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I
M*C0U-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'
MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7
MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1  (! @0$ P0'!00$  $"=P ! @,1
M! 4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)B<H
M*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#A(6&
MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76
MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_  !$( "L!"0,!$0 "$0$#$0'_V@ ,
M P$  A$#$0 _ /?B0!SQ0!YQXJ^+^DZ'=&QTV(ZG>AMI$9PBGTSW/TK2--O5
MF,JJ6B,+_A9WCR0>9'X._==1F*3./SJN2/<GVD^Q<T7XU6[ZBMAXBTR33)"<
M&0YPI]U/(%#I=AJMW1ZI;W$-U D\$JRQ.-RNAR"/8UB;K4EH P_$7BS1_"UK
MY^J7:QDC*1CEW^@IJ+EL3*2CN>=O\;;B[D?^R/"]U=0J<;\DY_ #BM52[LQ=
M;LB?3_CA9?;%MM;TBXTXGC>><?4$ XI>R?1C5;NCT[3M2L]5LTN[&YCN+=_N
MNAR*RM;<V33V+1/I0,X7P]\4=)U[Q)-H?DO:W",RH9&!$A4X('O6CIM*YE&H
MF['=UF:A0!R"^/K5OB"?"'V23[2/^6VX;?\ 5[^GTJ^3W;D<ZYN4UO$VNOX<
MT:74Q8RWD</,BQ'!5>[?05*5V-NRN0>$/%MCXPT?^T+(%-KE)(F.60CU^HYI
MRBXNS%":EL=!4EF?K>LV>@:1<:E?2B."!<GU)[ >YII-[";45J9/@SQ@OC&P
MFO8-/FM;>-]B-*0?,/?'TIRCRLF$N;4S?&GQ*L_!6HV]E<V,MPT\7F@HP&!D
MC'Z548.1,ZB@]3FO^%]Z7_T!KK_OL?X57LGW)]MY!_POO2_^@-=?]]C_  I>
MR?</;>1<TGXUZ;JVKV>G1Z5<QO=3+$K,XPI8XST]Z'2:6X*M=VL>EW,XMK2:
M<C(B0N1ZX&:R-GH>3Q_'BRD!\O0+I\==L@/]*U]DS'VR[#_^%YVP_P"9<O?^
M^O\ ZU'LO,/;>1KZ%\9/#>K7 M[DRZ?*3@>>/E)],C^M)TVMBE53W/0D=74,
MK J1D$="*S-2EJVM:?H5BUYJ5TEO O&Y^Y] .YII-NR$VDKL\WN?CEIQN&CT
MW1KN]13]\?+^F#6GLGW,76[(ET_XXZ)-<"'4;&ZL&SC+#>!]>A_2CV3Z#59=
M4>CZ;J-IJMA%?6,ZSVTHRDB]#VK-JQJFGL6Z0SROXR>+KG2K&W\/Z:6%YJ*G
M>R?>5,X 'NQR/P-:TXWU9C5E;1&M\/?AW8^&-+BN;N!)M5F4-+(XSL/]T?2E
M.=W8=."BKL[W: , 8K,U.<\6^#-+\5Z7+;74*).1^[G51O1NQS51DXLB4%)6
M/,_A9KFH^&_%ESX(U<G;N;R=Q^ZX&>/9AS6LU=<R,:4G%\K/7/$.MV_AS0+O
M5;G_ %=NF[;_ 'CT _$X%8I7=CHD^57/'? 7A>?XAZQ<>*_$CM-;+,1% WW7
M/I_NC(%;3?*N5'/3CS/F9[=;6-K9PK#;V\<4:C 5%  K Z$DBAK7AO2M>LGM
M=0LHI48$;BHW+[@]C34FMA.*9XUH]Q>?";XB+HMQ,TVC7Y7:S<  G ;Z@\&M
MFE.-^ISING*Q[T.E8'3T/EC3_"]]X@U#Q+=Z8[B^TV?SHT0X+@NV<>_&176Y
M)))G$HMMM'MGPT\>+XKTLVMX1'JUH LJ$X,@'&X#^=83ARLZ:<^96>YWAZ5F
M:GB47_)S;?0_^DU;?\NSF7\4]JEB2:)XY%#(XVLI&016)TGA=PD_P@^(8GA5
MF\/ZEP0>BC/(^J]O8UOI4B<NM*7D>YP7$5S DT+J\4BAE93D$'O6%K'2G=7/
M%/%]_<?$SQQ;^%=)E(TRS8M<S+RI(ZM^'0>YK>*Y%=G/)^TE9'LNFZ=;:5IU
MO8VD8C@@0(B@=A6#U=SH2LCQKXM@-\3O"P(!!\H$'_KM6]/X6<U7XT>SC3[/
M'_'I#_W[%8W9TV0O]GV?_/I#_P!^Q1=A9"K8VB,&6UB# Y!"#BB["R(M5_Y
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M %  : &T""D,44P%H 2@!: "@!*  4 +0 WO0 Z@ H 2@ H * $H 4]*  4
4+0 AH *$ O:@!M(0M Q:8!0!_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
