4.11 the consideration for the allotment and issue of New Shares will not be less than the nominal value of such New Shares; 4.12 the directors at the time of any allotment and issue of New Shares will be duly authorised pursuant to the articles of association of Cardtronics plc as in force at the time of such allotment and issue, the Companies Act 2006 and any relevant authority given by the members of Cardtronics plc in a general meeting to allot such New Shares; 4.13 prior to the allotment and issue of any New Shares, the Board or a duly authorised and constituted committee of the Board will resolve to allot and issue such New Shares; 4.14 New Shares will have been, on allotment and issue, fully paid up in cash in accordance with the Companies Act 2006; 4.15 the name of the relevant allottee and the number of New Shares allotted will be duly entered in the register of members of Cardtronics plc; 4.16 at the time of any future allotment and issue of New Shares, such Ordinary Shares will have been allotted and issued so as not to violate any applicable law; 4.17 there has been no bad faith, breach of duty, breach of trust, fraud, coercion, duress or undue influence on the part of any of the directors of Cardtronics plc in relation to any allotment and issue of New Shares; and 4.18 there are no provisions of the laws of any jurisdiction outside England and Wales which would have any implication for the opinions we express. 5. OPINIONS Based upon and subject to the assumptions and qualifications set out in this opinion and having regard to such legal considerations as we have deemed relevant, we are of the opinion that, when New Shares are allotted and issued in conformity with the articles of association of Cardtronics plc in force at the time of such allotment and issue, and so as not to violate any applicable law and upon full payment of the agreed cash consideration therefore as contemplated by the Registration Statement, such New Shares will be validly issued, fully paid and non-assessable. The term non-assessable has no recognised meaning in English law but for the purposes herein the term means that under the Companies Act 2006, the articles of association of Cardtronics plc and any resolution taken under the articles of association of Cardtronics plc approving the issuance of New Shares, no holder of such New Share is liable, solely because of such holder’s status as a holder of such New Share, for additional assessments or calls on the security by the Company or its creditors. |