According to the announcement of changes in Kish Trading Company and according to the minutes of the Extraordinary General Assembly and the Board of Directors dated 2004 Extraordinary General Assembly 2004 name of the company which was changed to Kish Port Development and Management Company and based on the approvals dated 2005 General Assembly of the Kish Free Zone Organization (Supreme Council of Free Trade-Industrial Zones) and the minutes of the Board of Directors of the Kish Free Zone Organization in 2005 and according to the powers contained in the law on how to manage free trade-industrial zones, the company’s new articles of association With the subject of the new activity (as described in paragraph 2-1 below) has been approved. At present, Kish Port and Airport Development and Management Company (Private Joint Stock Company) is one of the sub-units of Kish Free Zone Organization and the main center of the company is located in Kish Island. Pursuant to the resolution of the Ordinary General Assembly, the shareholders on 2011 have been suspended from the date of 2012 and have been merged with Kish Investment and Development Company by transferring their activities, employees and assets. According to the minutes of the Extraordinary General Assembly dated 2013, it was decided to reactivate the company, so according to the proposal No. 932/10/4774 dated 2014 of the Supreme Council of Free Trade-Industrial and Special Economic Zones Pursuant to paragraph (b) of Article (4) and Article (7) of the Law on How to Manage Free Trade-Industrial Zones of the Islamic Republic of Iran, as well as the decision of the Cabinet, the Articles of Association of Kish Free Zone Ports and Airports Development and Management Company (Private Joint Stock) in Meetings in 2014 and 2015 were approved and notified to the Secretariat of the Supreme Council of Free Trade-Industrial and Special Economic Zones by Resolution No. 106384 / T51602 dated 2015 and the said Secretariat by letter No. 942/20/3142 in 2015, send the above-mentioned articles of association to the Kish Free Zone Organization, and in this regard, the company’s activities will start in 2016, and the net book value of the relevant assets and employees has been transferred to the Kish Investment and Development Company from the above-mentioned date.