"Please find attached some minor suggested amendments to the waiver and SPA. The other
documents should be fine. Upon your confirmation that these amendments are fine, we will
arrange for the signature of [K.________] and understand you will liaise with N.________ to
obtain the missing signatures. In our view, this transaction was actually already approved since
it is stipulated in the October 2018 SPA, which was approved by all shareholder of
N.________. Accordingly, no new consent from the other shareholders (or the board) should
in our view be required in principle