<SEC-DOCUMENT>0001213900-25-025316.txt : 20250806
<SEC-HEADER>0001213900-25-025316.hdr.sgml : 20250806
<ACCEPTANCE-DATETIME>20250320092217
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-25-025316
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250320

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OMS Energy Technologies Inc.
		CENTRAL INDEX KEY:			0002012219
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		10 GUL CIRCLE
		CITY:			SINGAPORE
		PROVINCE COUNTRY:   	U0
		ZIP:			629566
		BUSINESS PHONE:		65 6861 2677

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		10 GUL CIRCLE
		CITY:			SINGAPORE
		PROVINCE COUNTRY:   	U0
		ZIP:			629566
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OMS Energy Technologies Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">10 Gul Circle<BR>
Singapore 629566</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right; text-indent: 0.5in">March 20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Office of Technology</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Inessa Kessman, Robert Littlepage, Aliya Ishmukhamedova and Mitchell
Austin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.25in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OMS Energy Technologies Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Amendment No. 6 to Registration Statement on Form F-1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Filed February 26, 2025</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>File No. 333-282986</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sir or Madam,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This letter is in response to your letter on February
27, 2025, in which you provided comments to the Amendment No. 6 to Registration Statement on Form F-1 (the &ldquo;Registration Statement&rdquo;)
of OMS Energy Technologies Inc. (the &ldquo;Company&rdquo;) filed with the U.S. Securities and Exchange Commission on February 26, 2025.
On the date hereof, the Company has filed an amendment to the Registration Statement (&ldquo;F-1/A7&rdquo;). We set forth below in bold
the comments in your letter relating to the Registration Statement followed by our responses to the comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Amendment No. 6 to Registration Statement on
Form F-1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Prospectus Summary, page 2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We note your response to prior comment 1 and your
    new disclosure on pages 2 and 3. Your disclosure states, &ldquo;Our gross profit margin for the combined six months ended September 30,
    2023 was impacted by the higher additional depreciation amounting to $4.1 million recognized from the business combination. Upon removing
    the latter impact, gross profit and gross profit margin for the combined six months ended September 30, 2023 was $15.7 million.&rdquo;
    Given that readers are trying to compare the reporting periods under the new basis of accounting, it is not clear to us why you would
    remove the impact of additional depreciation from the six months ended September 30, 2023. Be advised that the adjustment should cause
    the historical financial information to be on the new basis of accounting and thus should result in additional depreciation for the predecessor
    period. Please explain or revise accordingly.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify"><B>RESPONSE:
    </B>We respectfully advise the staff that the Company has revised several sections of the prospectus on mainly on pages 2, 30, 85
    to 87, and 54 to 71 under the &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
    to discuss the historical financial information for each of the predecessor and the successor periods and not on a combined basis.
    The Company has also revised the consolidated financial statements for the period from June 16, 2023 to March 31, 2024 and revise
    the condensed consolidated financial statements for the period from June 16, 2023 to September 30, 2023 and for the six months ended
    September 30, 2024 to present the changes in terms of the correction of error under Note 3A on pages F-29 to F-31, and under Note
    5A on pages F68 to F-71, respectively.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">We
respectfully advise the staff that the Company analyzed the errors related to the depreciation expenses (included in cost of revenue)
of certain property, plant and equipment for the Successor period from June 16, 2023 to March 31, 2024, for the Successor period from
June 16, 2023 to September 30, 2023 and for the six months ended June 30, 2024 in accordance with SAB 108 and SAB 99. We determined that
the errors were not material to the consolidated financial statements for the Successor period from June 16, 2023 to September 30, 2023
and for the Successor period from June 16, 2023 to March 31, 2024. While the errors will be material to the consolidated financial statements
for the six months ended September 30, 2024 if the errors be corrected in the six months ended September 30, 2024. Therefore, we revised
the consolidated financial statements for all the periods presented.&nbsp;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Unaudited Pro Forma Consolidated Statement
of Operation for the Year Ended March 31, 2024, page 53</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Your adjustment ii shows additional depreciation
    of $128,000 due to the fair value adjustment to property, plant and equipment and changes in the depreciation value. Please explain why
    the impact of the step up adjustment is only $128,000 from April 1 through June 15, 2023 while the impact is $4.1 million (per page 2
    and 65) from June 16 through September 30, 2023. That is, please explain how the additional depreciation was calculated and consider including
    that information in the footnote to the pro forma information.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify"><B>RESPONSE:
</B>We respectfully advise the staff that the step up adjustments from April 1, 2023 through June 15, 2023 on the proforma basis and the impact
from June 16 through September 30, 2023 has been revised following the correction of error in terms of the depreciation expenses of certain
property, plant &amp; equipment that have been written up in connection with the MBO, where the resulting additional depreciation has
changed. The Company has amended the prospectus to reflect these changes on page 53.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">Apart
from the revision above, the Company has not made additional disclosures in the footnote to the pro-forma information as the existing
disclosures on the calculation still applies, i.e., assuming the MBO occurred on April 1, 2023 using the new basis of accounting, the
pro-forma full-year additional depreciation recognized under cost of revenue was $3.8 million. From here, if we less the revised additional
depreciation recognized for the audited period June 16, 2023 through March 31, 2024 (Successor), which was $2.9 million, we arrive at
the pro-forma adjustment of $0.9 million.&nbsp;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations, </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Page 54</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You state on page 56 that, &ldquo;The combined
    data is being presented for informational purposes only and has not been prepared on a pro forma basis as if the MBO occurred on the first
    day of the period because the relevant impact is immaterial.&rdquo; However, based on your new disclosure on page 2 and 3 impact appears
    significant. For all periods presented please advise and prepare for us a materiality analysis including gross margin and net income.
    If the impact is material, it is not appropriate to combine the changes in results for purposes of your Management&rsquo;s Discussion and Analysis
    (MD&amp;A) as the financial statements are prepared on different bases of accounting and are not comparable. To the extent your presentation
    includes a supplemental discussion of the combined financial statements, it should be prepared on a pro forma basis reflecting all relevant
    pro forma adjustments in accordance with Article 11 of Regulation S-X. Also, revise your MD&amp;A to separately present and discuss the
    historical results of your predecessor and successor or explain to us how your presentation complies with Item 303 of Regulation S-K.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>RESPONSE: </B>We respectfully advise the staff that we have provided clarification
regarding our financial presentation and discussion in the MD&amp;A.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the revision of our consolidated financial
statements, we reassessed the impact of the new basis of accounting applied after the MBO. This reassessment confirmed that the differences
between the Predecessor and Successor periods were significant, particularly due to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;The application of IFRS 3 (Business Combinations) &ndash; The fair
value adjustments applied upon the acquisition resulted in a new basis of accounting for the Successor period, including revalued assets
and liabilities, which are different from the historical cost basis used in the Predecessor period.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;Correction of error in terms of depreciation expenses of certain property,
plant and equipment that have been written up in connection with the MBO &ndash; Initially, management had recognized the full amount
of fair value step up into depreciation expenses directly for certain property, plant and equipment as at the date of MBO. However, upon
further evaluation, this approach resulted in an overstatement of depreciation expense and a corresponding understatement of net profit
for the successor period from June 16, 2023 to March 31, 2024. To ensure accuracy and compliance with IFRS, we have revised our consolidated
financial statements to reflect the depreciation of property, plant and equipment based on the remaining useful lives.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">3.&nbsp;&nbsp;&nbsp;&nbsp;Significant impact on financial statements &ndash; After the company
revised its consolidated financial statements and evaluated the impact of the new basis of accounting, the difference was significant
as the Company recognized $2.9 million additional depreciation expenses on the new bases for the period from June 16, 2023 to March 31,
2024 after completion the MBO. Therefore the company elected not to discuss the results on a combined basis.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The company has also elected not to present supplemental proforma information
in the MD&amp;A. The MBO happened on June 16, 2023 and we have determined that presenting supplementary proforma information on the assumption
that the MBO took place on an earlier date on April 1, 2022 will not present a meaningful analysis.</P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Business </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Licenses and Permits and Registrations, page
101</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It appears the Environmental Operational Permit
    issued to your Saudi Arabia-based subsidiary by the Saudi Arabia National Center for Environmental Compliance expired on February 2, 2025.
    We also note your disclosure on page 117 concerning compliance with environmental laws in Saudi Arabia and your risk factor disclosure
    on page 27 discussing risks relating to renewing or obtaining permits. Please revise to clarify whether this permit has expired and, if
    so, whether you have renewed it or are in the process of doing so. Additionally, please revise to disclose any material effects of the
    expiration of this permit on your business. In this regard, we note that you have historically generated over 50% of your revenue from
    Saudi Arabia.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>RESPONSE:</B> We acknowledge the Staff&rsquo;s
    comment regarding the Environmental Operational Permit issued by the Saudi National Center for Environmental Compliance ("NCEC")
    to our Saudi Arabia-based subsidiary, and respectfully advise the Staff that we have provided an update and corresponding revisions
    in the F-1/A. The Company submitted its renewal request and expects to receive the renewal soon. We respectfully advise the Staff
    that the renewal process is generally administrative in nature, and we have not received any concerns from NCEC regarding the renewal.
    Furthermore, we confirm for the Staff that our Saudi Arabia subsidiary may still operate while the license renewal is under review.
    Even if under Saudi Environmental Law, the operation of a facility without a valid environmental permit may be subject to penalties,
    the maximum penalty for operating with an expired permit is a fine up to SAR 20,000 (approximately USD 5,300). Further, we understand
    that, under Saudi law, possessing documentation that verifies our timely renewal request may eliminate or reduce potential penalties.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hope this response has addressed all of the
Staff&rsquo;s concerns relating to the comment letter. Should you have additional questions regarding the information contained herein,
please contact our securities counsel William S. Rosenstadt, Esq., Jason Ye, Esq. or Yarona Yieh, Esq. of Ortoli Rosenstadt LLP at wsr@orllp.legal,
jye@orllp.legal or yly@orllp.legal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.8pt; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 60%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ How Meng Hock</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.8pt; text-align: justify">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3</P>

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