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44305

MEMORIAL

Amtsblatt

Journal Officiel

du Grand-Duché de

Luxembourg

des Großherzogtums

Luxemburg

R E C U E I L

D E S

S O C I E T E S

E T

A S S O C I A T I O N S

Le présent recueil contient les publications prévues par la loi modifiée du 10 août 1915 concernant les sociétés commerciales

et par loi modifiée du 21 avril 1928 sur les associations et les fondations sans but lucratif.

C — N° 924

9 septembre 2003

S O M M A I R E

CANDILORE S.A., Société Anonyme.

Siège social: L-1219 Luxembourg, 23, rue Beaumont.

R. C. Luxembourg B 64.089.

—

Le bilan au 31 décembre 2002, enregistré à Luxembourg, le 13 août 2003, réf. LSO-AH02508, a été déposé au registre

de commerce et des sociétés de Luxembourg, le 14 août 2003.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

(048618.3//12) Déposé au registre de commerce et des sociétés de Luxembourg, le 14 août 2003.

A&A Inform, S.à r.l., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44343

A&A Inform, S.à r.l., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44344

Atlantico S.A.H., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44352

Atlas Capital Group Holding S.A., Luxembourg. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44308

Candilore S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44305

Canford Holding S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44352

COFIDICO - Cie Financière pour le Développement Industriel et Commercial S.A.H., Luxembourg . . . . . . . .

44352

Fabk Investments S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44344

Il Cantuccio, S.à r.l., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44307

Infra-Gest, S.à r.l., Rodange . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44340

ITI Holdings S.A., International Trading and Investments Holdings S.A., Luxembourg . . . . . . . . . . . . . . . . . . . .

44308

Luxiver S.A.H., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44350

Mayflower, S.à r.l., Luxembourg. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44345

Orilux S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44342

Raiffeisen Fonds, Raiffeisen Schweiz (Luxemburg) Fonds, Sicav, Luxemburg . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44306

Raiffeisen Red Peppers (Luxembourg) S.A., Luxembourg. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44351

Raiffeisen Schweiz (Luxemburg) Fonds Management S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44343

Raiffeisen Schweiz (Luxemburg) Fonds Management S.A., Luxemburg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44342

SOK S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44352

SPI International S.A., Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44307

TST International Finance S.A.H. Luxembourg, Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44341

Pour le Conseil d’Administration
M. Gillardin / M. Hengel
Administrateurs

44306

RAIFFEISEN FONDS, RAIFFEISEN SCHWEIZ (LUXEMBURG) FONDS,

Investmentgesellschaft mit variablem Kapital.

Gesellschaftssitz: L-2085 Luxemburg, 23, avenue de la Porte-Neuve.

H. R. Luxemburg B 45.656.

—

Im Jahre zweitausendunddrei, den vierundzwanzigsten Juni.
Vor dem Unterzeichneten, Maître Henri Hellinckx, Notar mit Amtwohnsitz in Mersch.

Fand eine außerordentliche Hauptversammlung der Aktionäre des RAIFFEISEN SCHWEIZ (LUXEMBURG) FONDS

(die «Gesellschaft») mit Gesellschaftssitz in Münsbach im Großherzogtum Luxemburg, welche am 30. November 1993
durch notarielle Beurkundung des Notars M

Camille Hellinckx gegründet wurde, statt. Die Satzung der Gesellschaft

wurde durch notarielle Beurkundung des Notars M

Joseph Elvinger, Notar mit Amtswohnsitz in Luxemburg, am 24.

Juni 1998, geändert, welche am 29. September 1998 im Mémorial, Recueil des Sociétés et Associations (das «Mémorial»)
Nummer 700 veröffentlicht wurde. Eine weitere Änderung erfolgte durch notarielle Beurkundung des Notars M

Joseph

Elvinger, Notar mit Amtswohnsitz in Luxemburg, am 26. Juni 2001, welche am 9. August 2001 im Mémorial Nummer
621 veröffentlicht wurde.

Die Versammlung fand statt unter dem Vorsitz von Herrn Asif Beg, Privatbeamter, wohnhaft in Luxemburg.
Der Vorsitzende bestimmte Frau Gudrun Siegle, Privatbeamtin, wohnhaft in Luxemburg zur Sekretärin.
Die Versammlung bestimmte Herrn Antony Isturis, Privatbeamter, wohnhaft in Luxemburg zum Wahlprüfer.
Nachdem der Vorsitz der Versammlung auf diese Weise gebildet wurde, erklärte und beauftragte der Vorsitzende

den Notar Folgendes notariell zu beurkunden:

I. Die anwesenden und vertretenen Aktionäre, die Vollmachten der vertretenen Aktionäre und die Anzahl ihrer Ak-

tien sind in einer Anwesenheitsliste aufgeführt. Diese Anwesenheitsliste, die von den Aktionären, den Bevollmächtigten
der vertretenen Aktionäre, vom Vorstand der Versammlung und vom unterzeichneten Notar unterzeichnet wurde,
wird der vorliegenden notariellen Urkunde als Anlage beiliegen.

Die Vollmachten der vertretenen Aktionäre werden der vorliegenden notariellen Urkunde ebenfalls als Anlage bei-

gefügt.

II) Die Tagesordnung der Versammlung lautet wie folgt:
1. Verlegung des Gesellschaftssitzes der Gesellschaft von 1A, Parc d’activités Syrdall, L-5356 Münsbach, Luxemburg,

nach 23, avenue de la Porte-Neuve, L-2085 Luxemburg-Stadt und anschließende Änderung des ersten Satzes des Arti-
kels 4 der Satzung der Gesellschaft wie folgt:

«Der Gesellschaftssitz befindet sich in der Gemeinde Luxemburg, Großherzogtum Luxemburg.»
2. Änderung des Artikels 23 Ziffer C. (c) zum Zwecke der Beseitigung der Querhaftung und entsprechende Entfer-

nung des folgenden zweiten Halbsatzes unter Ziffer (c):

«sämtliche Verbindlichkeiten, zu welcher Masse auch immer sie gehören, verpflichten jedoch die Gesellschaft als ein

Ganzes, sofern keine abweichende Vereinbarung mit den Gläubigern besteht;»

III) Die außerordentliche Hauptversammlung der Aktionäre ist beschlußfähig, falls wenigstens die Hälfte der sich in

Umlauf befindlichen Aktien anwesend oder ordnungsgemäß vertreten sind. Der Beschluß über den Tagesordnungspunkt
muß durch eine Zweidrittelmehrheit der anwesenden oder vertretenen Aktien angenommen werden.

IV) Ein Einberufungsschreiben für diese außerordentliche Hauptversammlung der Aktionäre wurde am 16. Juni 2003

per Einschreiben an die im Aktienbuch eingetragenen Aktionäre versendet und eine Einladung wurde im Mémorial C am
16. Juni 2003 und im Luxemburger Wort vom 6. Juni 2003 respektive 16. Juni 2003 veröffentlicht.

V) Wie aus der Anwesenheitsliste hervorgeht sind von den ausgegebenen 49.715.619 Aktien 48.975.337 Aktien, die

mehr als die Hälfte der sich in Umlauf befindlichen Aktien darstellen, vertreten. Diese Versammlung ist daher beschluß-
fähig.

Nach eingehender Beratung fasste die Versammlung die nachfolgenden Beschlüsse.

Erster Beschluss

Die Versammlung beschließt den Gesellschaftssitz der Gesellschaft von gegenwärtig 1A, Parc d’Activités Syrdall, L-

5365 Münsbach, Luxemburg, nach 23, avenue de la Porte-Neuve, L-2085 Luxemburg-Stadt zu verlegen und den ersten
Satz des Artikels 4 der Satzung der Gesellschaft anschließend wie folgt zu ändern:

«Der Gesellschaftssitz befindet sich in der Gemeinde Luxemburg, Grossherzogtum Luxemburg.»

Zweiter Beschluss

Die Versammlung beschließt Artikel 23 Ziffer C. (c) zum Zwecke der Beseitigung der Querhaftung zu ändern und

entsprechend den folgenden zweiten Halbsatz unter Ziffer (c) zu entfernen:

«sämtliche Verbindlichkeiten, zu welcher Masse auch immer sie gehören, verpflichten jedoch die Gesellschaft als ein

Ganzes, sofern keine abweichende Vereinbarung mit den Gläubigern besteht;»

Da keine weiteren Angelegenheiten der Versammlung vorliegen, wurde diese daraufhin beendet.
Ausgaben, Kosten, Abfindungen und Gebühren jeder Art, welche durch die vorliegende notarielle Urkunde entstehen

und von der Gesellschaft getragen werden, werden auf ungefähr eintausend Euro geschätzt.

Hierauf wurde die vorliegende notarielle Urkunde an dem wie zu Beginn dieses Dokuments bezeichneten Datums in

Luxemburg erstellt.

Nachdem das Dokument den erschienenen Personen verlesen wurde, welche dem Notar mit ihren Namen, Vorna-

men, Personenstand und nach ihrer Herkunft bekannt sind, haben die Mitglieder des Vorsitzes zusammen mit uns, dem
Notar, die vorliegende Urkunde unterzeichnet, nachdem kein anderer Aktionär beantragt hat, dieselbe zu unterzeich-
nen.

Gezeichnet: A. Beg, G. Siegle, A. Isturis, H. Hellinckx.

44307

Enregistré à Mersch, le 4 juillet 2003, vol. 424, fol. 85, case 11. – Reçu 12 euros.

Le Receveur (signé): A. Muller.

Für gleichlautende Ausfertigung, zum Zwecke der Veröffentlichung im Mémorial, Recueil des Sociétés et Associations,

erteilt.

(045436.3/242/72) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 août 2003.

IL CANTUCCIO, S.à r.l., Société à responsabilité limitée.

Siège social: L-1510 Luxembourg, 14, avenue de la Faïencerie.

R. C. Luxembourg B 27.344.

—

L’an deux mille trois, le vingt-six juin.
Par-devant Maître Emile Schlesser, notaire de résidence à Luxembourg, 28, boulevard Grande-Duchesse Charlotte,

A comparu:

Monsieur Giovanni Locorotondo, commerçant, demeurant à L-6250 Scheidgen, 60, route d’Echternach,
Lequel comparant a déclaré et prié le notaire d’acter ce qui suit:
1. Monsieur Giovanni Locorotondo, prénommé, agissant en sa qualité de gérant administratif de la société à respon-

sabilité limitée IL CANTUCCIO, S.à r.l., avec siège social à L-1510 Luxembourg, 14, avenue de la Faïencerie, constituée
suivant acte reçu par le notaire Francis Kesseler, alors de résidence à Esch-sur-Alzette, en date du 1

février 1988, pu-

blié au Mémorial C de 1988, page 5153, modifiée suivant acte reçu par le notaire Christine Doerner, de résidence à
Bettembourg, en date du 12 octobre 1988, publié au Mémorial C de 1989, page 741, modifiée suivant acte reçu par le
prédit notaire Doerner, en date du 29 juillet 1994, publié au Mémorial C de 1994, page 22915, inscrite au registre de
commerce et des sociétés de et à Luxembourg, sous la section B et le numéro 27.344, déclare accepter au nom de la
société, conformément à l’article 190 de la loi du 18 septembre 1933 concernant les sociétés à responsabilité limitée,
respectivement à l’article 1690 du Code Civil, la cession de deux cent cinquante-cinq (255) parts sociales, en date du
20 mai 2003, par Monsieur Stefano Locorotondo, commerçant, demeurant à L-4999 Schouweiler, 23, rue des Tisse-
rands, à Monsieur Giovanni Locorotondo, prénommé, au prix de un euro (EUR 1,-).

2. Monsieur Giovanni Locorotondo, prénommé, est dès lors seul associé de la société.
3. Comme conséquence de ce qui précède, l’article quatre des statuts aura dorénavant la teneur suivante:

«Art. 4. Le capital social est fixé à la somme de douze mille cinq cents euros (EUR 12.500,-), représenté par cinq

cents (500) parts sociales de vingt-cinq euros (EUR 25,-) chacune, entièrement libérées.

Les cinq cents (500) parts sociales sont souscrites par l’associé unique, Monsieur Giovanni Locorotondo, commer-

çant, demeurant à L-6250 Scheidgen, 60, route d’Echternach.»

4. Ensuite, l’associé unique décide d’accepter la démission de Monsieur Stefano Locorotondo, prénommé, de ses

fonctions de gérant technique de la société, et de lui donner décharge pleine et entière.

Le nombre des gérants est fixé à un. Monsieur Giovanni Locorotondo, prénommé, est nommé gérant unique de la

société pour une durée indéterminée, avec tous les pouvoirs pour engager valablement la société, en toutes circonstan-
ces, par sa seule signature.

5. Les frais et honoraires des présentes et ceux qui en seront la conséquence, seront supportés par la société.
6. Pour les publications et dépôts à faire, tous pouvoirs sont donnés au porteur d’une expédition des présentes.

Dont acte, fait et passé à Luxembourg, date qu’en tête.
Et après lecture faite et interprétation donnée au comparant, connu du notaire par ses nom, prénom, état et demeu-

re, il a signé le présent acte avec le notaire.

Signé: G. Locorotondo, E. Schlesser.
Enregistré à Luxembourg, le 27 juin 2003, vol. 139S, fol. 47, case 8. – Reçu 12 euros.

Le Receveur (signé): J. Muller.

Pour expédition conforme délivrée sur papier libre aux fins de la publication au Mémorial.

(047016.3/227/43) Déposé au registre de commerce et des sociétés de Luxembourg, le 8 août 2003.

SPI INTERNATIONAL S.A., Société Anonyme.

Siège social: L-1413 Luxembourg, 3, place Dargent.

R. C. Luxembourg B 35.030.

—

Le bilan au 31 décembre 2002, enregistré à Luxembourg, le 13 août 2003, réf. LSO-AH02489, a été déposé au registre

de commerce et des sociétés de Luxembourg, le 14 août 2003.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 14 août 2003.

(048607.3//12) Déposé au registre de commerce et des sociétés de Luxembourg, le 14 août 2003.

Mersch, den 16. Juli 2003.

H. Hellinckx.

Luxembourg, le 5 août 2003.

E. Schlesser.

COMPANIES &TRUSTS PROMOTION S.A.
Signature

44308

ITI HOLDINGS S.A., INTERNATIONAL TRADING AND INVESTMENTS HOLDINGS S.A.,

Société Anonyme.

Siège social: L-1471 Luxembourg, 398, route d’Esch.

R. C. Luxembourg B 29.742.

—

Lors de l’Assemblée Générale Ordinaire tenue le 2 juin 2003, les actionnaires ont renouvelé le mandat du réviseur

d’entreprises, PricewaterhouseCoopers avec siège social au 400, route d’Esch, L-1471 Luxembourg, R. C. Luxembourg
n

65.477 pour période venant à échéance lors de l’assemblée générale ordinaire qui se tiendra en 2004.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Signature.

Enregistré à Luxembourg, le 24 juillet 2003, réf. LSO-AG07005. – Reçu 14 euros.

Le Receveur (signé): D. Hartmann.

(048512.3/581/14) Déposé au registre de commerce et des sociétés de Luxembourg, le 14 août 2003.

ATLAS CAPITAL GROUP HOLDING S.A., Société Anonyme.

Registered office: L-1528 Luxembourg, 5, boulevard de la Foire.

R. C. Luxembourg B 78.314.

—

In the year two thousand and two, on the thirty-first day of December.
Before Us Maître Henri Hellinckx, notary residing in Mersch (Luxembourg)

Was held an Extraordinary General Meeting of the shareholders of ATLAS CAPITAL GROUP HOLDING S.A. (the

«Company»), a société anonyme, having its registered office in 5, boulevard de la Foire, L-1528 Luxembourg (R.C. Lux-
embourg B 78.314), incorporated in form of a «société à responsabilité limitée» by deed of Maître Edmond Schroeder,
then notary residing in Mersch, on October 13, 2000, published in the Mémorial C number 264 of April 12, 2001.

The articles of incorporation have been amended for the last time pursuant to a deed of Maître Edmond Schroeder,

prenamed, on June 29, 2001, published in the Mémorial C number 1233 of December 27, 2001.

The meeting is presided over by Mr John Seil, licencié en sciences économiques appliquées, residing in Contern.
The chairman appointed as secretary Mrs. Alexia Uhl, juriste, residing in Luxembourg.
The meeting elected as scrutineer Mr Pierre Lentz, licencié en sciences économiques, residing in Strassen.
The board of the meeting having thus been constituted, the chairman declared and requested the undersigned notary

to record that:

I. The shareholders present or represented, the proxies of the represented shareholders and the number of their

shares are shown on an attendance list which, signed by the board of the meeting, the shareholders, the proxies of the
represented shareholders and the undersigned notary will remain annexed and be registered with the present deed.

The proxy forms of the represented shareholders after having been initialled «ne varietur» by the appearing persons

will also remain annexed to the present deed.

II. It appears from the attendance list that all the eleven thousand three hundred and fifty-seven (11,357) shares rep-

resenting the entire share capital are present or represented at the extraordinary general meeting and that the share-
holders declaring having had prior knowledge of the agenda, no convening notice was necessary.

III. That the board of the present meeting, representing the whole corporate capital, is regularly constituted and may

validly deliberate on all the items of the following agenda:

Agenda:

(A) Restructuring of the Company’s issued share capital by:
(i) Increase of capital in the amount of USD 4,596,000.- (four million five hundred ninety six thousand American dol-

lars) to raise it from USD 2,904,000.- (two million nine hundred four thousand American dollars) to USD 7,500,000.-
(seven million five hundred thousand American dollars) by the issuance of 1,124,343 (one million one hundred twenty-
four thousand three hundred forty-three) new shares without nominal value, with an issue premium of USD 457,865.-
(four hundred fifty seven thousand eight hundred sixty five American dollars), against cash.

(ii) the re-classification of all the shares in issue in the Company into a like number of Common Shares;
(iii) the creation of classes of shares, namely Class B, Class C and Class D; the Common Shares, Class B shares, Class

C shares and Class D shares to have such rights as set out in the Articles of Incorporation of the Company as to be
amended by the general meeting of shareholders;

and consequential amendment of Article 5 of the Articles of Incorporation of the Company;
(B) Restructuring of the authorised share capital of the Company by:
(i) the confirmation of the existing authorised share capital of thirty million USD to be represented by 11,732,499

authorised Common Shares without nominal value and extension of the validity period thereof for a period of five years
from the date of publication in the Mémorial, Recueil des Sociétés et Associations (the «Mémorial») of the notarial deed
recording the minutes of the general meeting of shareholders (or any adjournment thereof);

(ii) the increase of the authorised share capital by an amount of seven hundred and sixty-seven thousand one hundred

US dollars (767,100 USD) to be represented by up to 100,000 authorised Class B shares, 100,000 authorised Class C
shares and 100,000 authorised Class D shares for a period of five years from the date of publication in the Mémorial of
the notarial deed recording the minutes of the general meeting of shareholders (or any adjournment thereof);

(iii) the reservation within the authorised share capital of an amount of one million fifty-seven thousand five hundred

and four US dollars (1,057,504.- USD) for the issue of up to one hundred thirteen thousand five hundred and seventy
(113,570) authorised Common Shares, 100,000 authorised Class B shares, 100,000 authorised Class C shares and

44309

100,000 authorised Class D shares with respect to options granted to the executive and non-executive directors, senior
executives, or employees of, and advisors or consultants to, the Company or ADAS Capital Group Holding Limited, a
company incorporated under the laws of Bermuda with registered office at PO Box HM2257, Par La Ville Place, 14,
Parlaville Road, Hamilton HM, Bermuda and being registered under number EC24130 at the commercial register of Ber-
muda and/or the Company’s or ADAS Capital Group Holding Limited’s subsidiaries or affiliates in accordance with stock
option plan(s) of the Company as from time to time determined by the Board of Directors upon such terms and con-
ditions as determined by the Board of Directors, subject to such conditions as resolved by the general meeting of share-
holders;

and consequential amendment of Article 5 of the Articles of Incorporation of the Company;
(C) Acknowledgement and approval of a report by the Board of Directors on the price and the circumstances at

which Common Shares, Class B shares, Class C shares and Class D shares may be issued respectively, within the au-
thorised share capital if issued against consideration in cash with free power to the Board of Directors to suppress pre-
emptive subscription rights of existing shareholders of Common Shares and/or of either class of shares.

(D) Amendment of article 5 of the Articles of Incorporation pursuant to items A, B and C above to read as follows:

«Art. 5. The authorised share capital of the Company is set at thirty million seven hundred and sixty-seven thousand

one hundred US dollars (30,767,100.- USD) to be represented by up to [eleven million seven hundred and thirty-two
thousand four hundred and ninety-nine (11,732,499)] authorised Common Shares and up to one hundred thousand
(100,000) authorised Class B shares, one hundred thousand (100,000) authorised Class C shares and (100,000) author-
ised Class D shares (Common Shares, Class B shares, Class C shares and Class D shares to be collectively referred to
as the «Shares» and the holders of such Shares are collectively referred to as the «Shareholders»).

The issued share capital of the Company is set at seven million five hundred thousand US dollars (7,500,000.- USD)

represented by one million one hundred and thirty-five thousand seven hundred (1,135,700) Common Shares without
nominal value.

The Shares are and remain in registered form only.
The authorised and the subscribed capital of the Company may be increased or reduced by a decision of the general

meeting of shareholders voting with the same quorum and majorities as for the amendment of the articles of incorpo-
ration.

The Board of Directors or delegate(s) duly appointed by the Board may from time to time issue Common Shares,

Class B shares, Class C shares and Class D shares within the authorised share capital at such times and on such terms
and conditions, subject as set out below, including the issue price or any other terms and conditions, as the Board or
its delegate(s) may in its or their discretion resolve and have such capital increase recorded in accordance with Luxem-
bourg law. For the avoidance of doubt it is specified that the Board may issue Common Shares, Class B shares, Class C
shares and Class D shares without having to respect any specific ratio, provided that non-voting shares of (whatever
class) shall always in the aggregate represent less than 50% of the issued share capital of the Company.

The Board of Directors is authorised to suppress any pre-emptive subscription rights (whether class related or not)

of existing shareholders of Common Shares and/or of either or all of Class B, C or D shares to the extent it deems
advisable for any issue or issues of Common Shares or shares of either Class B, C or D within the authorised capital.

In addition thereto out of the authorised share capital of the Company an amount of (one million fifty-seven thousand

five hundred and four US dollars (1,057,504 USD) shall be reserved with no pre-emption rights for existing shareholders
of Common Shares and/or of either or all of Class B, C or D shares for the issue of up to one hundred thirteen thousand
five hundred and seventy (113,570) Common Shares, one hundred thousand (100,000) Class B shares, one hundred
thousand (100,000) Class C shares and one hundred thousand (100,000) Class D shares with respect to options granted
to executive and non-executive directors, senior executives, or employees of, and advisors or consultants to, the Com-
pany or ADAS Capital Group Holding Limited, a company incorporated under the laws of Bermuda with registered of-
fice at PO Box HM 2257, Par La Ville place, 14, Parlaville road, Hamilton HM, Bermuda and being registered under
number EC 24130 at the commercial register of Bermuda (ADAS Capital Group Holding Limited) and/or the Company’s
or ADAS Capital Group Holding Limited’s subsidiaries or affiliates in accordance with stock option plan(s) of the Com-
pany as from time to time determined by the Board of Directors upon such terms and conditions as determined by the
Board of Directors, subject to such conditions as resolved by the general meeting of shareholders.

Moreover, the Board of Directors is authorised to issue without limitation ordinary or convertible bonds, or bonds

with warrants, in bearer or other form or other rights convertible or non convertible into shares or giving the right to
subscribe for shares, in any denomination and payable in any currency or currencies. It is understood that any issue of
convertible bonds or bonds with warrants or such other rights can only be made under the legal provisions regarding
the authorised share capital and, within the limits of the authorised share capital as specified hereabove. The Board of
Directors shall fix the nature, price, rate of interest, conditions of issue and repayment and all other terms and condi-
tions thereof.

A register of registered bonds or other rights will be kept at the registered office of the Company.»
(E) Amendment of the Articles of Incorporation of the Company by the addition of a new article 6, a new article 7,

a new article 8, a new article 9, a new article 10 and a new article 11 to read as follows, and renumbering of the remaining
articles as appropriate:

«Art. 6.
(a) Common Shares are voting shares in the Company with such rights and obligations as set out in the articles of

incorporation of the Company. The Company may, to the extent and under the terms permitted by law, repurchase
Common Shares. The holders of Common Shares shall hereafter be referred to as «Common Shareholders».

(b) Class B shares are, subject to article 10 hereof and until the latest 31st December 2007, redeemable shares in the

Company and shall have such rights and obligations as set out in the articles of incorporation of the Company for «Re-

44310

deemable Class B shares». For as long as such Redeemable Class B shares are redeemable shares, the Company may at
its discretion redeem such Redeemable Class B shares in accordance with article 7 below. Upon the occurrence of any
one of the events referred to in article 10 and at the latest on 31st December 2007, Class B shares shall no longer be
redeemable shares in the Company (i. e. no longer be Redeemable Class B shares) and shall no longer have the rights
and obligations of Redeemable Class B shares but shall have such rights and obligations as are set out in the articles of
incorporation of the Company for «Class Shares».

the Company and shall have such rights and obligations as set out in the articles of incorporation of the Company for
«Redeemable Class C shares». For as long as such Redeemable Class C shares are redeemable shares, the Company
may at its discretion redeem such Redeemable Class C shares in accordance with article 7 below. Upon the occurrence
of any one of the events referred to in article 10 and at the latest on 31st December 2008, Class C shares shall no longer
be redeemable shares in the Company (i.e. no longer be Redeemable Class C shares) and shall no longer have the rights
and obligations of Redeemable Class C shares but shall have such rights and obligations as are set out in the articles of
incorporation of the Company for «Class Shares».

(d) Class D shares are, subject to article 10 hereof and until the latest 31st December 2009, redeemable shares in

the Company and shall have such rights and obligations as set out in the articles of incorporation of the Company for
«Redeemable Class D shares». For as long as such Redeemable Class D shares are redeemable shares, the Company
may at its discretion redeem such Redeemable Class D shares in accordance with article 7 below. Upon the occurrence
of any one of the events referred to in article 10 and at the latest on 31st December 2009, Class D shares shall no longer
be redeemable shares in the Company (i. e. no longer be Redeemable Class D shares) and shall no longer have the rights
and obligations of Redeemable Class D shares but shall have such rights and obligations as are set out in the articles of
incorporation of the Company for «Class Shares».

(f) For the purpose of these articles of incorporation Redeemable Class B shares, Redeemable Class C shares and

Redeemable Class D shares (as the case may be) shall collectively be referred to as «Redeemable Shares» and the hold-
er(s) of such Redeemable Shares shall collectively be referred to as «Holder(s) of Redeemable Shares».

(g) For the purpose of these articles of incorporation Class B shares, Class C shares and Class D shares (as the case

may be) which are not (or which are no longer) redeemable pursuant to article 7 hereafter shall be referred to as «Class
Shares» and the holder(s) of such Class Shares shall collectively be referred to as «Class-Shareholder(s)».»

«Art. 7.
(a) The Company may at the entire discretion of the Board of Directors redeem some or all of the Redeemable

Shares at any time without being required to respect any ratios between the classes of Redeemable Shares or the Hold-
ers of Redeemable Shares within one or more classes.

(b) For the redemption of Redeemable Shares, the Company shall serve a notice (the «Redemption Notice») upon

the person appearing in the register of shareholders as the owner of the Redeemable Shares to be redeemed, specifying
the number and class of Redeemable Shares to be redeemed, the redemption price to be paid for such Redeemable
Shares (the «Redemption Price») and the date on which such redemption will be effective (the «Redemption Date»).

addressed to such Holder(s) of Redeemable Shares at his (their) last address appearing in register of shareholders or
known to the Company. The Holder(s) of Redeemable Shares concerned shall thereupon forthwith be obliged to deliver
to the Company the relevant share certificate or certificates, if any, and shall indicate a bank account to which the Re-
demption Price for his (their) Redeemable Shares redeemed is to be transferred to.

Immediately after the close of business on the Redemption Date specified in the Redemption Notice (and whether

or not such Holder(s) of Redeemable Shares shall have delivered the share certificate or certificates or provided the
bank account information required above) such Holder(s) of Redeemable Shares shall cease to be the owner(s) of the
Redeemable Shares referred to in the Redemption Notice and his (their) name shall be removed as the holder(s) of such
Redeemable Shares from the register of shareholders. Any such person will cease to have any rights as a shareholder
in the Company with respect to the Redeemable Shares so redeemed as from the close of business of the Redemption
Date specified in the Redemption Notice referred to above.

(d) The Redemption Price to be paid for each Redeemable Share so redeemed shall be the open market value of a

Redeemable Share determined in good faith by the Board of Directors, that is the price which the Redeemable Shares
might reasonably be expected to realise on a sale in the open market and assuming that in the open market which is
postulated for the purposes of this determination, there is available to any prospective purchaser of the Redeemable
Shares all the information which a prudent prospective purchaser of the asset might reasonably require if he were pro-
posing to purchase the Redeemable Shares from a willing vendor by private sale agreement and at arm’s length. In de-
termining this value the Directors may appoint an independent valuer to advise them (who may be a valuer who is a
partner or employee of the Company’s auditors) and in any event, the Director’s determination of that Redemption
Price shall be final and conclusive.

(e) Payment of the Redemption Price shall be made by the Company to the bank account indicated by the Holder(s)

of Redeemable Shares concerned or as may be agreed between the parties. In the event the Holder(s) of Redeemable
Shares concerned does not indicate a bank account to which the Redemption Price shall be transferred, the Company
may either deposit such amount on an account opened for such purpose or send a check for such amount to the last
address of such Holder(s) of Redeemable Shares appearing in register of shareholders or known to the Company, each
time at the sole risk and costs of the Holder(s) of Redeemable Shares concerned. Upon transfer or deposit of the Re-
demption Price or the posting of a check as aforesaid, no person interested in the Holder(s) of Redeemable Shares re-
deemed pursuant to the Redemption Notice shall have any further interest in such Holder(s) of Redeemable Shares or
any of them, or any claim against the Company or its assets in respect thereof or of the Redemption Price.

44311

(f) The exercise by the Company of the powers conferred by this article shall not be questioned or invalidated in any

case on the ground that there was insufficient evidence of ownership of the Redeemable Shares by any person or that
the true ownership of any such Redeemable Shares was otherwise than as appeared to the Company at the date of any
Redemption Notice, provided that in such case the said powers were exercised by the Company in good faith.

(g) The Redemption Price may only be paid out of sums available for distribution in accordance with Article 72-1,

paragraph (1) of the company law or proceeds of a new issue made with a view to carry out such redemption(s).

(h) An amount equal to the aggregate nominal value of all the Redeemable Shares so redeemed must be transferred

to a non distributable reserve, except (i) in the event of a reduction of the issued share capital or (ii) if such redemp-
tion(s) is (are) funded by proceeds from a new issue made with a view to carry out such redemption(s); such reserve
may only be applied to increase the issued share capital by capitalisation of reserves.»

«Art. 8.
(a) Redeemable Shares shall be reserved for, and may be held only by, executive and non-executive directors, senior

executives, or employees of, and advisors or consultants to, the Company or ADAS Capital Group Holding Limited and/
or the Company’s or ADAS Capital Group Holding Limited’s subsidiaries or affiliates and their spouses, respective heirs
or any family trust or partnership controlled by any of them (whether individually or collectively) as well as Common
Shareholders (a «Permitted Transferee») or as may be decided by the Company for the purpose of this article 8 here-
after (an «Exception»).

(b) Any transfer of Redeemable Shares (excluding a transfer to a Permitted Transferee, in which case article 8(d) shall

apply) is subject (i) to the right of pre-emption of the Common Shareholders and (ii) to the approval of the Company
and shall only be inscribed in the register of shareholder of the Company after such approval has been given. The right
of pre-emption of Common Shareholders is subject to the right of the Company to decide at its discretion to redeem
such Redeemable Shares to be transferred, in which case it shall send a Redemption Notice to the Holder of Redeem-
able Shares concerned.

Transferee) shall notify the Company thereof in writing with acknowledged receipt, indicating the number and class of
Redeemable Shares to be transferred as well as the name and address of the proposed transferee and the proposed
transfer price (the «Transfer Notice»).

Unless the proposed transferee is a Permitted Transferee (in a like case article 8(d) shall apply) and unless the Com-

pany decides to use its discretionary right of redemption referred to above (in which case article 7 shall apply, including
without limitation the determination of the Redemption Price), the Company shall within a period of 14 business days
after receipt of the Transfer Notice inform the Common Shareholders of the proposed transfer, the number and class
of the Redeemable Shares to be transferred as well as the transfer price (the «Information Notice»). The Common
Shareholders wishing to exercise their right of pre-emption for the Redeemable Shares pursuant to, and for the transfer
price set out in, the Information Notice shall inform the Company thereof in writing (the «Exercise Notice») with ac-
knowledged receipt within a period of 14 business days after the date of the Information Notice (the «Exercise Period»).
Such right of preemption may only be exercised for all but not for part of the Redeemable Shares to be transferred
subject to the Information Notice.

In the event the Company receives more than one Exercise Notice, each exercising shareholder shall receive a

number of the Redeemable Shares to be transferred pro rata to his holding of Common Shares in the Company.

Within 7 business days of the end of the Exercise Period the Company shall inform the concerned Holder of Re-

deemable Shares as well as the exercising Common Shareholders of the result of the Exercise Period and the purchase
of the Redeemable Shares concerned by the exercising Common Shareholders shall be effected.

In the event no Exercise Notice is received by the Company at the end of the Exercise Period, the Company shall

either redeem the Redeemable Shares concerned (in accordance with article 7) to or approve the transfer proposed in
the Transfer Notice and decide upon an Exception as provided for under article 8(a) above.

(d) If the proposed transferee is a Permitted Transferee, the Company shall inform the Holder of Redeemable Shares

concerned whether it agrees to the qualification as Permitted Transferee of the proposed transferee within a period of
14 business days. In the event the Company does not agree to such qualification, (i) the Holder of Redeemable Shares
concerned may withdraw his Transfer Notice or (ii) to the extent the Transfer Notice is not withdrawn within a period
of 14 business days after receipt of the negative response from the Company, the procedure set out in article 8 (b) to
(c) shall apply, unless the Company decides upon an Exception pursuant to article 8 (a).

(e) In the event a holder of Redeemable Shares no longer qualifies as a Holder of Redeemable Shares pursuant to

article 8(a), such holder of Redeemable Shares shall be deemed to have sent a Transfer Notice to the Company and the
procedure referred to under article (8) (b) to (c) above shall apply, the Transfer Price being set at the open market value
determined in accordance with article 7(d). In the event no Exercise Notice is received by the Company at the end of
the Exercise Period, the Company shall either (i) decide to redeem such Redeemable Shares or (ii) decide upon an Ex-
ception as provided for under article 8(a) above.»

«Art. 9. Each Common Share shall have one vote at any general meeting of shareholders as well as at any general

meeting of Common Shareholders.

Redeemable Shares (of whatever class) shall be non voting shares, subject to article 46 of the company law.
Class Shares shall (if and when they are no longer redeemable shares) have one vote at any general meeting of share-

holders as well as at any general meeting of the relevant class.»

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«Art. 10.
(a) Upon the occurrence of any one of the events set out hereafter, Redeemable Class B shares shall no longer be,

and no longer have the rights and obligations of, redeemable shares but shall be Class B shares with the rights and ob-
ligations of Class shares as set out in the present articles of incorporation for Class Shares:

(i) in accordance with article 6(b): 31st December 2007: on the business day following 31st December 2007, all Re-

deemable Class B shares in issue at that time shall automatically no longer be, and no longer have the rights and obliga-
tions of, redeemable shares but shall be Class B shares with the rights and obligations of Class Shares as set out in the
present articles of incorporation;

(ii) upon the listing and/or admission to the public trading of the Common Shares on an official stock exchange or

market: on the business day preceding the admission to the listing and/or public trading of the Common Shares on an
official stock exchange or market, all Redeemable Class B shares in issue at that time shall automatically no longer be,
and no longer have the rights and obligations of, redeemable shares but shall be Class B shares with the rights and ob-
ligations of Class Shares as set out in the present articles of incorporation;

(iii) if a person obtains «Control» (as defined hereafter) of the Company as a result of making (i) an offer to acquire

all Common Shares outstanding in the Company which is made on a condition such that if it is satisfied the person mak-
ing the offer will have Control of the Company or (ii) an offer to acquire all Redeemable Shares, all Redeemable Class
B shares in issue at that time shall automatically no longer be, and no longer have the rights and obligations of, redeem-
able shares but shall be Class B shares with the rights and obligations of Class Shares as set out in the present articles
of incorporation;

(iv) if one (or more) of the Common Shareholders transfers Common Shares representing not less than 15% of all

Common Shares in issue to a person who is not a Common Shareholder, all Redeemable Class B shares in issue shall
automatically no longer be, and no longer have the rights and obligations of, redeemable shares but shall be Class B
shares with the rights and obligations of Class Shares as set out in the present articles of incorporation;

(b) Upon the occurrence of any one of the events set out hereafter, Redeemable Class C shares shall no longer be,

and no longer have the rights and obligations of, redeemable shares but shall be Class C shares with the rights and ob-
ligations of Class shares as set out in the present articles of incorporation for Class Shares:

(i) in accordance with article 6(c): 31st December 2008: on the business day following 31st December 2008, all Re-

deemable Class C shares in issue at that time shall automatically no longer be, and no longer have the rights and obli-
gations of, redeemable shares but shall be Class C shares with the rights and obligations of Class Shares as set out in
the present articles of incorporation;

(ii) upon the listing and/or admission to the public trading of the Common Shares on an official stock exchange or

market: on the business day preceding the admission to the listing and/or public trading of the Common Shares on an
official stock exchange or market, all Redeemable Class C shares in issue at that time shall automatically no longer be,
and no longer have the rights and obligations of, redeemable shares but shall be Class C shares with the rights and ob-
ligations of Class Shares as set out in the present articles of incorporation;

(iii) if a person obtains «Control» (as defined hereafter) of the Company as a result of making (i) an offer to acquire

all Common Shares outstanding in the Company which is made on a condition such that if it is satisfied the person mak-
ing the offer will have Control of the Company or (ii) an offer to acquire all Redeemable Shares, all Redeemable Class
C shares in issue at that time shall automatically no longer be, and no longer have the rights and obligations of, redeem-
able shares but shall be Class C shares with the rights and obligations of Class Shares as set out in the present articles
of incorporation;

(iv) if one (or more) of the Common Shareholders transfers Common Shares representing not less than 15% of all

Common Shares in issue to a person who is not a Common Shareholder, all Redeemable Class C shares in issue shall
automatically no longer be, and no longer have the rights and obligations of, redeemable shares but shall be Class C
shares with the rights and obligations of Class Shares as set out in the present articles of incorporation;

and no longer have the rights and obligations of, redeemable shares but shall be Class D shares with the rights and ob-
ligations of Class shares as set out in the present articles of incorporation for Class Shares:

(i) in accordance with article 6(d): 31st December 2009: on the business day following 31st December 2009, all Re-

deemable Class D shares in issue at that time shall automatically no longer be, and no longer have the rights and obli-
gations of, redeemable shares but shall be Class D shares with the rights and obligations of Class Shares as set out in
the present articles of incorporation;

(ii) upon the listing and/or admission to the public trading of the Common Shares on an official stock exchange or

market: on the business day preceding the admission to the listing and/or public trading of the Common Shares on an
official stock exchange or market, all Redeemable Class D shares in issue at that time shall automatically no longer be,
and no longer have the rights and obligations of, redeemable shares but shall be Class D shares with the rights and ob-
ligations of Class Shares as set out in the present articles of incorporation;

(iii) if a person obtains «Control» (as defined hereafter) of the Company as a result of making (i) an offer to acquire

all Common Shares outstanding in the Company which is made on a condition such that if it is satisfied the person mak-
ing the offer will have Control of the Company or (ii) an offer to acquire all Redeemable Shares, all Redeemable Class
D shares in issue at that time shall automatically no longer be, and no longer have the rights and obligations of, redeem-
able shares but shall be Class D shares with the rights and obligations of Class Shares as set out in the present articles
of incorporation;

(iv) if one (or more) of the Common Shareholders transfers Common Shares representing not less than 15% of all

Common Shares in issue to a person who is not a Common Shareholder, all Redeemable Class D shares in issue shall

44313

automatically no longer be, and no longer have the rights and obligations of, redeemable shares but shall be Class D
shares with the rights and obligations of Class Shares as set out in the present articles of incorporation;

(d) For the purpose of this article 10, «Control» shall mean the power of a person to secure (i) by means of the

holding of shares or the possession of voting power in or in relation to the Company or any other body corporate; or
(ii) by virtue of any powers conferred by the articles of association or other document regulating the Company or any
other body corporate, that the affairs of the Company are conducted in accordance with the wishes of that person.

(e) The Board of Directors of the Company shall acknowledge any of the above and have article 5 of the Articles of

Incorporation amended accordingly.»

«Art. 11.
(a) Where a person obtains «Control» of the Company as defined in article 10(d) or shares in the Company are sold

under the terms of article 12 (Tag Along Rights) and article 13 (Drag Along Rights) then, each holder of a Class Share
shall be entitled to receive an amount not less than the «Fair Value» per share determined in accordance with article
11(b). The Common Shareholders shall ensure that they will procure that any acquiring person shall pay not less than
the «Fair Value» per Class Share, determined in accordance with article 11(b). If the Common Shareholders are unable
to reach an agreement with the acquiring person then the Company will acquire the Class Shares for not less than Fair
Value to the extent permitted by law.

(b) «Fair Value» per share means:
(i) where there is simultaneously a disposal of shares in ADAS Capital Group Holding Limited representing more than

15% of the share capital of ADAS Capital Group Holding Limited, means the sum of the total value of ADAS Capital
Group Holding Limited and the Company computed on a pro-rata basis to the proportion that has been sold in each
case and divided by the total number of shares in the Company and ADAS Capital Group Holding Limited in issue of
whatever class as follows:

(AB+CD)/E where;
A=the total number of shares in issue in the Company or the Company’s holding company on the date on which an

offer is made to acquire all the shares in the Company and ADAS Capital Group Holding Limited or notice is given under
articles 12 or 13

B=the price per the Company (or the Company’s holding company) share paid or payable by a third party for the

Company shares;

C=the total number of shares in issue in ADAS Capital Group Holding Limited or ADAS Capital Group Holding Lim-

ited’s holding company on the date on which an offer is made to acquire all the shares in the Company and ADAS Capital
Group Holding Limited or notice is given under articles 12 or 13;

D=the price per ADAS Capital Group Holding Limited (or ADAS Capital Group Holding Limited’s holding company)

share paid or payable by a third party for ADAS Capital Group Holding Limited shares;

E=the total number of shares in issue in both the Company and ADAS Capital Group Holding Limited on the date

on which an offer is made to acquire all the shares in the Company and ADAS Capital Group Holding Limited or notice
is given under articles 12 or 13

(ii) where there is no disposal of shares in ADAS Capital Group Holding Limited the sum of the consolidated net

asset value and the goodwill of each of the Company and ADAS Capital Group Holding Limited determined at the end
of the financial year immediately preceding the event for which Fair Value is being determined and divided by the total
number of shares in the Company and ADAS Capital Group Holding Limited in issue of whatever class and where, for
these purposes, «goodwill» means the average of 3% of assets under management by the Company and all its subsidiaries
(the «Group») and ADAS Capital Group Holding Limited and all its subsidiaries (the «ADAS Group») at the relevant
financial year end plus twelve times after tax earnings for the relevant financial year before payment of any dividend
relating to that financial year; «assets under management» means the value of funds subject to an investment manage-
ment and/or investment advisory contract computed under the methodology used for the purpose of calculating fees
and funds subject to two or more such contracts shall be counted twice or more; «consolidated net asset value» means
the aggregate for each of the Group and the ADAS Group, of the consolidated net assets as reported in the audited
group accounts at the financial year-end preceding the event for which Fair Value is being measured; and «profit after
tax» means the aggregate for the Group and the ADAS Group of the consolidated profit after tax as reported in the
audited group accounts for the financial year preceding the event for which Fair Value is being measured.

(F) Amendment of the renumbered article 12 (previously article 6) to read as follows:

«Art. 12. In the event that one or more of the Common Shareholders is negotiating a sale of not less than 15% of

the Common Shares (the «Selling Shareholder(s)») to a person which is not a Common Shareholder (a «Potential Pur-
chaser»), the Selling Shareholder(s) will if any of the other Shareholders of the Company (the «Other Shareholder(s)»)
so desire, request of the Potential Purchaser that he or it make an offer to the Other Shareholder(s) to purchase a like
percentage of their Shares from each of them.

The offer to each of the Other Shareholder(s) must be for the same proportion of Shares of each of the Other Share-

holder(s)’ total Shares as the proportion of the Common Shares to be sold by the Selling Shareholder(s) is to each of
the Selling Shareholder(s)’ total Common Shares.

The offer to purchase from the Other Shareholder(s) shall be on identical terms, including at the same price, as are

offered to the Selling Shareholder(s), except that the price paid for a Class Share shall be not less than Fair Value as
determined in accordance with Article 11(b).

If the Potential Purchaser refuses to make an offer as aforesaid to the Other Shareholder(s), then the Selling Share-

44314

their Common Shares covered by the offer to include the proportionate number of the Other Shareholder(s) Shares
in the sale. The sale proceeds relating to the Other Shareholder(s) Shares shall be held by the Selling Shareholder(s)
upon trust for the Other Shareholder(s) and paid to them after deduction of their share of the reasonable expenses of
the sale.»

(G) Amendment of the renumbered article 13 (previously article 7) to read as follows:

«Art. 13. If any of the Shareholders agrees to engage in or effect a transfer of its Shares, (the «Selling Shareholder»)

in a bona fide arm’s-length transaction or in connection with a transaction in which an internationally recognised invest-
ment banking firm has opined that the transaction is fair to the Shareholders taken as a whole and Shareholders whose
aggregate holdings of Shares are equal to or greater than 60% of the Company’s issued share capital agree to participate,
then the Selling Shareholder may invoke its «drag along right» which is the right to require all other holders of Shares
(the «Drag Along Shareholders») to transfer all Shares then held by the Drag Along Shareholders concurrently with the
transfer by the Selling Shareholder for the same consideration per share except that the consideration per Class Share
shall be not less than Fair Value determined in accordance with Article 11(b); provided, however, that the transfer of
all Shares by the Drag Along Shareholders is in accordance with all applicable securities laws and does not violate any
law or regulation applicable to the Drag Along Shareholders. Such election shall be made by the Selling Shareholder by
delivering to the Drag Along Shareholders a written notice (the «Drag Along Notice») informing them of the material
terms of the transfer, including, without limitation, the identity of the potential purchaser, the sale price to be paid by
the potential purchaser (the «Sale Price») and the other related terms and the scheduled closing date for the transfer
(the «Transfer Date»).

Before the Transfer Date and provided that the Shareholders consummate the transfer of all the Shares to the po-

tential purchaser at the Sale Price, the Board shall take whatever steps may be necessary to effect the transfer of the
Shares held by the Drag Along Shareholders to the potential purchaser against payment of the Sale Price for such Shares,
and the Board shall as soon as possible thereafter remit such payment to the Drag Along Shareholders in the respective
amounts due to them without reduction or adjustment of any kind except as may be required by law.

In the event a Drag Along Shareholder fails to carry out or comply with any of the requirements to transfer his or

its shares, the Board shall be empowered to transfer the defaulting Drag Along Shareholder’s Shares as shall be neces-
sary and appropriate.»

(H) Amendment of the renumbered article 22 (previously article 16) to read as follows:

«Art. 22. The general meeting of Shareholders represents the whole body of Shareholders. It has the most extensive

powers to carry out or ratify such acts as may concern the Company. The convening notices are made in the form and
delays prescribed by law.

In order to be valid, the resolutions of the general meeting of Shareholders must be taken by at least 60% of the

Shares having voting rights represented at such meeting and voting at the meeting, except as provided for by law.

The above provisions shall apply mutatis mutandis to general meetings of Common Shareholders and to general

meetings of Class Shareholders, except that resolutions at general meetings of Class Shareholders (of whatever of Class
B, C or D) shall, except if otherwise provided for by law, be taken at by simple majority of the Class Shares (of the
relevant Class) represented and voted.»

(I) Amendment of the renumbered article 25 (previously article 19) to read as follows:

«Art. 25. The Company will recognise only one holder for each Share; in case a Share is held by more than one

person, the Company has the right to suspend the exercise of all rights attached to that Share until one person has been
appointed as sole owner in relation to the Company.»

(J) Amendment of the renumbered article 27 (previously article 21) to read as follows:

«Art. 27. At least five percent of the net profit for the financial year have to be allocated to the legal reserve fund.

Such allocation will cease to be compulsory when the reserve fund reaches ten percent of the subscribed capital.

The remaining balance of the net profit is at the disposal of the general meeting in accordance as set out hereafter:
(a) Each Redeemable Share shall entitle the holder thereof to a preferential cumulative dividend at the rate of 3% of

the accounting par of such Redeemable Share.

(b) In the case the general meeting of Shareholders decides to proceed to a dividend distribution to Common and

Class Shareholders a dividend representing in aggregate 1% of the net profits of the financial year concerned (less the
amount paid to Holders of Redeemable Shares pursuant to paragraph (a) above) shall be distributed to the Holders of
Redeemable Shares pro rata to their holding of Redeemable Shares

of the capital, without reducing the corporate capital.

(d) Advances on dividends may be paid by the Board of Directors in compliance with the legal requirements.»
(K) Amendment of the renumbered article 28 (previously article 22) to read as follows:

«Art. 28. The Company may be dissolved by a decision of the general meeting voting with the same quorum as for

the amendment of the articles of incorporation.

Should the Company be dissolved, the liquidation will be carried out by one or several liquidators, legal or physical

persons, appointed by the general meeting which will specify their powers and remuneration.

Upon closure of the liquidation of the Company, the surplus assets of the Company will be attributed to the share-

holders in the following manner:

(a) First, the Holders of Redeemable Shares shall have a preferential right to receive reimbursement of their contri-

bution;

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(b) Second, holders of Common Shares and holders of Class Shares shall receive reimbursement of the aggregate of

their contributions divided by the number of Common Shares and Class Shares in issue at that time;

holdings;

(d) Fourth, an amount representing not more than the Fair Value per share calculated in accordance with Article 11

(b) on the day prior to the day on which the liquidation was agreed in general meeting multiplied by the number of Class
Shares in issue less any amounts distributed to Class Shareholders under article 28(b) and 28(c) above shall be distrib-
uted among the holders of Class Shares pro rata to their Class shareholdings in the Company.

(e) Fifth, any remaining amount shall be distributed among the holders of Common Shares pro rata to their Common

shareholdings in the Company.»

(L) Approval of the principles of the Company’s stock option plan(s)
(M) Approval of the amended and restated Articles of Incorporation of the Company in accordance with the above

resolutions and substantially in the form as set out herein (it being specified that the object of the Company has not
been amended)

AMENDED AND RESTATED ARTICLES OF INCORPORATION

Name - Registered office - Duration - Object - Capital

Art. 1. There exists a société anonyme (joint stock company) under the name of ATLAS CAPITAL GROUP HOLD-

ING S.A.».

Group means the Company and any company of which for the time being not less than 40% in nominal value of the

issued voting shares is owned directly or indirectly by the Company.

Art. 2. The registered office is in Luxembourg-City.
The Company may establish branches, subsidiaries, agencies or administrative offices in the Grand Duchy of Luxem-

bourg as well as in foreign countries by a simple decision of the Board of Directors.

Without any prejudice of the general rules of law governing the termination of contracts, in case the registered office

of the Company has been determined by contract with third parties, the registered offices may be transferred to any
other place within the municipality of the registered office, by a simple decision of the Board of Directors. The registered
office may be transferred to any other municipality of the Grand Duchy of Luxembourg by a decision of the sharehold-
ers’ meeting.

If extraordinary events of a political, economic or social character, likely to impair normal activity at the registered

office or the easy communication between that office and foreign countries shall occur, or shall be imminent, the regis-
tered office may be provisionally transferred abroad until the complete cessation of these abnormal circumstances.

Such temporary measure shall, however, have no effect on the nationality of the Company which, notwithstanding

the provisional transfer of its registered office, shall remain a Luxembourg company.

One of the executive organs of the Company, which has powers to commit the Company for acts of daily manage-

ment, shall make this declaration of transfer of the registered office and inform third parties.

Art. 3. The Company is established for an unlimited period.

Art. 4. The purposes for which the Company is formed are all transactions pertaining directly or indirectly to the

taking of participating interests in any enterprises in whatever form, as well as the administration, the management, the
control and the development of such participating interests.

The Company may particularly use its funds for the setting-up, the management, the development and the disposal

of a portfolio consisting of any securities and patents of whatever origin, participate in the creation, the development
and the control of any enterprise, acquire by way of contribution, subscription, underwriting or by option to purchase
and any other way whatever, any type of securities and patents, realise them by way of sale, transfer, exchange or oth-
erwise, have developed these securities and patents, grant to the companies in which it has participating interests any
support, loans, advances or guarantees.

In general, the Company may take any measure to safeguard its rights and make any transactions whatsoever which

are directly or indirectly connected with its purposes and which are liable to promote their development or extension.

In all the operations indicated hereabove, as well as in its whole activity, the Company will remain within the limits

established by the law of July 31st, 1929 on holding companies.

Art. 5. The authorised share capital of the Company is set at thirty million seven hundred and sixty-seven thousand

The issued share capital of the Company is set at seven million five hundred thousand US dollars (7,500,000.- USD)

represented by one million one hundred and thirty five thousand seven hundred (1,135,700) Common Shares without
nominal value.

The Shares are and remain in registered form only.
The authorised and the subscribed capital of the Company may be increased or reduced by a decision of the general

meeting of shareholders voting with the same quorum and majorities as for the amendment of the articles of incorpo-
ration.

The Board of Directors or delegate(s) duly appointed by the Board may from time to time issue Common Shares,

Class B shares, Class C shares and Class D shares within the authorised share capital at such times and on such terms

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and conditions, subject as set out below, including the issue price or any other terms and conditions, as the Board or
its delegate(s) may in its or their discretion resolve and have such capital increase recorded in accordance with Luxem-
bourg law. For the avoidance of doubt it is specified that the Board may issue Common Shares, Class B shares, Class C
shares and Class D shares without having to respect any specific ratio, provided that non-voting shares of (whatever
class) shall always in the aggregate represent less than 50% of the issued share capital of the Company.

The Board of Directors is authorised to suppress any pre-emptive subscription rights (whether class related or not)

In addition thereto out of the authorised share capital of the Company an amount of one million fifty-seven thousand

five hundred and four US dollars (1,057,504.- USD) shall be reserved with no pre-emption rights for existing sharehold-
ers of Common Shares and/or of either or all of Class B, C or D shares for the issue of up to one hundred thirteen
thousand five hundred and seventy (113,570) Common Shares, one hundred thousand (100,000) Class B shares, one
hundred thousand (100,000) Class C shares and one hundred thousand (100,000) Class D shares with respect to op-
tions granted to executive and non-executive directors, senior executives, or employees of, and advisors or consultants
to, the Company or ADAS Capital Group Holding Limited, a company incorporated under the laws of Bermuda with
registered office at PO Box HM 2257, Par La Ville place, 14, Parlaville road, Hamilton HM, Bermuda and being registered
under number EC 24130 at the commercial register of Bermuda (ADAS Capital Group Holding Limited) and/or the
Company’s or ADAS Capital Group Holding Limited’s subsidiaries or affiliates in accordance with stock option plan(s)
of the Company as from time to time determined by the Board of Directors upon such terms and conditions as deter-
mined by the Board of Directors, subject to such conditions as resolved by the general meeting of shareholders.

Moreover, the Board of Directors is authorised to issue without limitation ordinary or convertible bonds, or bonds

A register of registered bonds or other rights will be kept at the registered office of the Company.

Art. 6.
(a) Common Shares are voting shares in the Company with such rights and obligations as set in out the articles of

(b) Class B shares are, subject to article 10 hereof and until the latest 31st December 2007, redeemable shares in the

Company and shall have such rights and obligations as set in out the articles of incorporation of the Company for «Re-
deemable Class B shares». For as long as such Redeemable Class B shares are redeemable shares, the Company may at
its discretion redeem such Redeemable Class B shares in accordance with article 7 below. Upon the occurrence of any
one of the events referred to in article 10 and at the latest on 31st December 2007, Class B shares shall no longer be
redeemable shares in the Company (i.e. no longer be Redeemable Class B shares) and shall no longer have the rights
and obligations of Redeemable Class B shares but shall have such rights and obligations as are set out in the articles of
incorporation of the Company for «Class Shares».

(d) Class D shares are, subject to article 10 hereof and until the latest 31st December 2009, redeemable shares in

the Company and shall have such rights and obligations as set out in the articles of incorporation of the Company for
«Redeemable Class D shares». For as long as such Redeemable Class D shares are redeemable shares, the Company
may at its discretion redeem such Redeemable Class D shares in accordance with article 7 below. Upon the occurrence
of any one of the events referred to in article 10 and at the latest on 31st December 2009, Class D shares shall no longer
be redeemable shares in the Company (i.e. no longer be Redeemable Class D shares) and shall no longer have the rights
and obligations of Redeemable Class D shares but shall have such rights and obligations as are set out in the articles of
incorporation of the Company for «Class Shares».

(f) For the purpose of these articles of incorporation Redeemable Class B shares, Redeemable Class C shares and

(g) For the purpose of these articles of incorporation Class B shares, Class C shares and Class D shares (as the case

Art. 7.
(a) The Company may at the entire discretion of the Board of Directors redeem some or all of the Redeemable

Shares at any time without being required to respect any ratios between the classes of Redeemable Shares or the Hold-
ers of Redeemable Shares within one or more classes.

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