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During the next 12 months, we intend to use our treasury shares primarily to satisfy our obligations under equity compensation awards granted to our employees, and it is possible we may also reissue treasury shares for other corporate purposes that may arise.
We currently have the ability to reissue our treasury shares until May 20, 2021 at the same price range as described in Proposal 4. If our shareholders do not approve Proposal 4, we will continue to reissue our treasury shares until May 20, 2021 primarily to satisfy our obligations under our equity compensation awards, as well as for other corporate purposes that may arise, and after that date, we will issue new ordinary shares for such purposes, instead of treasury shares, until we obtain shareholder approval for a similar proposal at a future shareholder meeting.