This site no longer hosts any data. The file you are looking for is probably available on the official Legilux website by clicking on this link.

Ce site n'héberge plus aucune donnée. Le fichier que vous cherchez est probablement accessible sur le site officiel Legilux en cliquant sur ce lien.

Diese Seite nicht mehr Gastgeber keine Daten. Die Datei, die Sie suchen ist wahrscheinlich auf der offiziellen Legilux Website, indem Sie auf diesen link verfügbar.

U X E M B O U R G

MEMORIAL

Journal Officiel

du Grand-Duché de

Luxembourg

MEMORIAL

Amtsblatt

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

C — N° 1145

7 mai 2012

SOMMAIRE

7Miglia S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54914

Aktiva Fonder Sicav . . . . . . . . . . . . . . . . . . . .

54915

AllianceBernstein Institutional Invest-

ments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54944

Beliere Holding S.A. . . . . . . . . . . . . . . . . . . . .

54923

BIGPOINT Sàrl and Co, SCS . . . . . . . . . . . .

54957

BJ General Holdings . . . . . . . . . . . . . . . . . . . .

54944

Bolux . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54916

Bourne Park Capital (Lux) S.A. SICAV -

SIF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54940

BPER International Sicav . . . . . . . . . . . . . . .

54922

BZ Equity Fund . . . . . . . . . . . . . . . . . . . . . . . .

54943

CIC CH Fund . . . . . . . . . . . . . . . . . . . . . . . . . .

54916

CMG Food & Beverage S.A. . . . . . . . . . . . . .

54916

Conventum . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54917

Corporate II . . . . . . . . . . . . . . . . . . . . . . . . . . .

54920

Corporate III . . . . . . . . . . . . . . . . . . . . . . . . . .

54923

Corporate IV . . . . . . . . . . . . . . . . . . . . . . . . . .

54925

Corporate Special . . . . . . . . . . . . . . . . . . . . . .

54926

C.P.F. Investissements S.A. . . . . . . . . . . . . .

54918

DWS Garant . . . . . . . . . . . . . . . . . . . . . . . . . . .

54926

Estate Alliance . . . . . . . . . . . . . . . . . . . . . . . . .

54917

FDH Patrimoine . . . . . . . . . . . . . . . . . . . . . . .

54918

FIT Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54924

Fuchs Calypso Select . . . . . . . . . . . . . . . . . . .

54915

Hottinger International Fund . . . . . . . . . . .

54914

Hottinger International Fund . . . . . . . . . . .

54918

Interteil Investissements S.A. . . . . . . . . . . .

54919

Iridys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54914

Leo Capital (Lux) FCP-FIS . . . . . . . . . . . . . .

54940

Luma SIF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54941

Luxembourgeoise de Construction Immo-

bilière S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .

54940

Meridio Islamic Funds . . . . . . . . . . . . . . . . . .

54927

Mineta S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54924

Multis S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54924

Navitas Solar Group S.A. . . . . . . . . . . . . . . .

54943

Northland Resources S.A. . . . . . . . . . . . . . . .

54919

Obanoa Investments S.A. . . . . . . . . . . . . . . .

54960

Orco Property Group . . . . . . . . . . . . . . . . . .

54928

Patrick S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54956

Poppediño S.A. . . . . . . . . . . . . . . . . . . . . . . . .

54921

REYL (Lux) GLOBAL FUNDS . . . . . . . . . . .

54927

REYL (Lux) GLOBAL FUNDS . . . . . . . . . . .

54921

Reyl (Lux) Tactical Allocations . . . . . . . . . .

54928

Sanpaolo International Formulas Fund . . .

54942

Silverside Shipping S.A. . . . . . . . . . . . . . . . . .

54944

Single Select Hedge Platform . . . . . . . . . . .

54941

Socparlux S.à.r.l. . . . . . . . . . . . . . . . . . . . . . . .

54957

Sofie S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54944

SPL Gestion . . . . . . . . . . . . . . . . . . . . . . . . . . .

54920

StoneCreek Capital International Ltd. . . .

54945

UFG-LFP Funds . . . . . . . . . . . . . . . . . . . . . . . .

54925

Uni-Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54922

Wazzamba SA . . . . . . . . . . . . . . . . . . . . . . . . .

54926

54913

U X E M B O U R G

Iridys, Société Anonyme.

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

R.C.S. Luxembourg B 30.663.

Les Actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu le 23 mai 2012 à 11:00 heures au siège social à Luxembourg, avec l'ordre du jour suivant:

Ordre du jour:

1. Rapport de gestion du Conseil d'Administration et rapport du Commissaire
2. Approbation des comptes annuels et affectation des résultats au 31 décembre 2011
3. Décharge aux Administrateurs et au Commissaire
4. Divers

Le Conseil d'Administration.

Référence de publication: 2012051232/15.

7Miglia S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue Saint Mathieu.

R.C.S. Luxembourg B 156.077.

Messieurs les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu mercredi 23 mai 2012 à 14:00 heures au siège social de la société, avec l'ordre du jour suivant:

Ordre du jour:

Le Conseil d'Administration.

Référence de publication: 2012052368/1267/15.

Hottinger International Fund, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 24.050.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 12.00 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

pour être valables, doivent réunir les deux tiers au moins des voix des Actionnaires exprimées. Des procurations ainsi
que le projet de texte des statuts coordonnés sont disponibles, sans frais, sur simple demande auprès du siège social de
la SICAV.

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, la politique d'investissement des différents compartiments de la SICAV

ainsi que les restrictions d'investissement seront adaptées afin d'être conformes aux dispositions prévues de la loi précitée
du 17 décembre 2010. Les actionnaires sont invités à se référer au projet de prospectus d'émission disponible auprès du
siège social de la SICAV ou d'une agence de la Banque de Luxembourg.

Référence de publication: 2012052378/755/24.

54914

U X E M B O U R G

Aktiva Fonder Sicav, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 155.251.

The Board of Directors is pleased to convene the shareholders of AKTIVA FONDER SICAV to attend the

ANNUAL GENERAL MEETING

to be held at the registered office of the company on 23 May 2012 at 10.45 a.m. (the “Meeting”) with the following

agenda:

Agenda:

1. Report of the Board of Directors and of the Authorized Auditor
2. Approval of the financial statements as at 31 December 2011
3. Allocation of results
4. Discharge to the Directors
5. Renewal of the mandate of the Authorized Auditor
6. Statutory elections
7. Miscellaneous
The shareholders are advised that no quorum for the statutory general meeting is required and that decisions will be

taken by a simple majority of the votes cast. Proxies are available at the registered office of the Sicav. Shareholders, who
wish to attend the annual general meeting, are requested to inform the Board of Directors (Fax nr: +352 49 924 2501 -
ifs.fds@bdl.lu) at least five calendar days prior to the Meeting.

Référence de publication: 2012052369/755/22.

Fuchs Calypso Select, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 93.660.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 16.30 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Modification de la dénomination sociale de la SICAV en ISATIS INVESTMENT

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Modification conséquente de l'objet social de la SICAV, comme suit:
La Société a pour objet exclusif de placer les fonds dont elle dispose en valeurs mobilières, instruments du marché
monétaire et autres avoirs autorisés par la Partie I de la loi du 17 décembre 2010 concernant les organismes de
placement collectif («Loi de 2010»), dans le but de répartir les risques d'investissement et de faire bénéficier ses
actionnaires des résultats de la gestion de son portefeuille. La Société peut prendre toutes les mesures et faire
toutes les opérations qu'elle jugera utiles à l'accomplissement et au développement de son objet au sens le plus
large dans le cadre de la Partie I de la Loi de 2010.

•

Modification subséquente des statuts de la SICAV et refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, la politique d'investissement des différents compartiments de la SICAV

Référence de publication: 2012052377/755/32.

54915

U X E M B O U R G

Bolux, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 33.507.

Le Conseil d'Administration a l'honneur de convoquer les actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 14:30 heures (l'«Assemblée») afin de délibérer sur l'ordre

du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

pour être valables, doivent réunir les deux tiers au moins des voix des actionnaires exprimées. Des procurations ainsi
que le projet de texte des statuts coordonnés sont disponibles, sans frais, sur simple demande auprès du siège social de
la SICAV.

Les actionnaires au porteur qui souhaitent participer à l'Assemblée doivent déposer leurs actions, au moins cinq jours

francs avant l'Assemblée, auprès du siège ou d'une agence de la BANQUE DE LUXEMBOURG, Société Anonyme à
Luxembourg.

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a été refondu afin d'être conforme aux dispositions prévues

de la loi précitée du 17 décembre 2010. Les actionnaires sont invités à se référer au projet de prospectus d'émission
disponible auprès du siège social de la SICAV ou d'une agence de la Banque de Luxembourg.

Référence de publication: 2012052370/755/27.

CMG Food & Beverage S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue St. Mathieu.

R.C.S. Luxembourg B 131.900.

Messieurs les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu jeudi 24 mai 2012 à 11:00 heures au siège social de la société, avec l'ordre du jour suivant:

Ordre du jour:

1. Approbation des comptes annuels et affectation des résultats au 31/12/2011.
2. Approbation du rapport de gestion et du rapport du commissaire aux comptes.
3. Décharge à donner aux administrateurs et au commissaire aux comptes.
4. Renouvellement et/ou nomination des administrateurs et du commissaire aux comptes.
5. Divers.

Le Conseil d'Administration.

Référence de publication: 2012052372/1267/16.

CIC CH Fund, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 75.914.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 16.00 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Changement de la dénomination sociale de la SICAV en «CIC CH»;

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE;

•

Refonte des statuts de la SICAV;

54916

U X E M B O U R G

•

Changement de la langue officielle de la SICAV du français vers l'allemand.

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (+352/49.924.2501 / ifs.fds@bdl.lu) de leur intention d'assister à
l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a également été refondu afin d'être conforme aux dispo-

sitions de la loi précitée du 17 décembre 2010. Les actionnaires sont invités à se référer au projet de prospectus d'émission
disponible auprès du siège social de la SICAV ou d'une agence de la Banque de Luxembourg.

Référence de publication: 2012052371/755/25.

Conventum, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 70.125.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 11:30 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires au porteur qui souhaitent participer à l'Assemblée doivent déposer leurs actions, au moins cinq jours

francs avant l'Assemblée, auprès du siège ou d'une agence de la BANQUE DE LUXEMBOURG, Société Anonyme à
Luxembourg.

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Référence de publication: 2012052373/755/23.

Estate Alliance, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 159.126.

The Board of Directors convenes the Shareholders of the SICAV to attend the

EXTRAORDINARY GENERAL MEETING

(the “Meeting”) to be held at the registered office of the SICAV on 25 May 2012 at 17.00 p.m. with the following

agenda:

Agenda:

•

Amendment of the articles of association of the SICAV with regards to the Luxembourg law of 17 December 2010
relating to undertakings for collective investment and implementing the Directive 2009/65/EC

•

Rewriting of the articles of association of the SICAV.

Shareholders are advised that a quorum of fifty percent of the share capital of the SICAV is required for the Meeting

and that decisions will be taken by a majority of two thirds of the votes cast. Proxies are available at the registered office
of the SICAV. Shareholders who wish to attend the Meeting must inform the Board of Directors (Fax nr: +352 49 924
2501 - ifs.fds@bdl.lu) at least five calendar days before the Meeting.

Shareholders may consult the draft updated prospectus and articles of association with the registered office of the

SICAV or Banque de Luxembourg (14, boulevard Royal, L-2449 Luxembourg).

Shareholders are informed that the investment horizon has been set at “at least 5 years” instead of “more than 12

months” previously.

Référence de publication: 2012052375/755/22.

54917

U X E M B O U R G

C.P.F. Investissements S.A., Société Anonyme.

Siège social: L-5811 Fentange, 67, rue de Bettembourg.

R.C.S. Luxembourg B 107.579.

Messieurs les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu vendredi 1

er

juin 2012 à 10:00 heures au siège social de la société, avec l'ordre du jour suivant:

Ordre du jour:

1. Approbation des comptes annuels et affectation des résultats au 31/12/2011.
2. Approbation du rapport du commissaire aux comptes.
3. Décharge à donner aux administrateurs et au commissaire aux comptes.
4. Décision à prendre conformément à l'article 100 de la loi du 10 août 1915 concernant les sociétés commerciales.
5. Divers.

Le Conseil d'Administration.

Référence de publication: 2012052374/1267/16.

FDH Patrimoine, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 107.998.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 14.00 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a également été refondu afin d'être conforme aux dispo-

Référence de publication: 2012052376/755/23.

Hottinger International Fund, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 24.050.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la Sicav HOTTINGER INTERNATIONAL

FUND à

l'ASSEMBLEE GENERALE ORDINAIRE

qui se tiendra le 28 mai 2012 à 11.00 heures au siège social, afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

54918

U X E M B O U R G

Les Actionnaires sont informés que l'Assemblée n'a pas besoin de quorum pour délibérer valablement. Les résolutions,

pour être valables, doivent réunir la majorité des voix exprimées des Actionnaires présents ou représentés. Des procu-
rations sont disponibles au siège social de la Sicav.

Pour pouvoir assister à la présente Assemblée, les détenteurs d'actions au porteur doivent déposer leurs actions, au

moins cinq jours francs avant l'Assemblée, auprès du siège de la BANQUE DE LUXEMBOURG, Société Anonyme à
Luxembourg. Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq
jours francs avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur
intention d'assister à l'Assemblée.

Référence de publication: 2012052379/755/25.

Interteil Investissements S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue Saint-Mathieu.

R.C.S. Luxembourg B 156.970.

Messieurs les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu mercredi 23 mai 2012 à 10:00 heures au siège social de la société, avec l'ordre du jour suivant:

Ordre du jour:

Le Conseil d'Administration.

Référence de publication: 2012052380/1267/15.

Northland Resources S.A., Société Anonyme.

Siège social: L-2557 Luxembourg, 7A, rue Robert Stümper.

R.C.S. Luxembourg B 151.150.

Notice is hereby given that the

ANNUAL GENERAL MEETING

of the shareholders of the Company will be held at 7A, rue Robert Stümper, L-2557 Luxembourg, Grand Duchy of

Luxembourg on May 16, 2012 at 10 a.m. (CET), for the following purposes:

Agenda:

1. Approval of the reports of (i) the board of directors of the Company and (ii) the independent auditor of the

Company on the consolidated annual accounts of the Company (the “Consolidated Annual Accounts”) for the
financial year ended as of December 31, 2011 (the “Financial Year”) and on the annual accounts of the Company
for the Financial Year (the “Annual Accounts”);

2. Approval of the Annual Accounts and allocation of the result for the Financial Year;
3. Approval of the Consolidated Annual Accounts;
4. Discharge (quitus) to the members of the board of directors of the Company for the exercise of their mandate

during the Financial Year;

5. Renewal of the mandate of the members of the board of directors until the next annual general meeting;
6. Appointment of Mr. Carl-Michael Raihle as an additional director of the Company;
7. Renewal of the mandate of Ernst & Young S.A. as independent auditor (réviseur d'entreprise agréé) until the next

annual general meeting;

8. Approval of fees to non-executive members of the board of directors of CAD 60,000 per annum, with an additional

CAD 20,000 per annum to the director serving as the Audit Committee Chair, and an additional CAD 10,000 per
annum to each director serving as the Chair of any other Committee;

9. Approval of a revised stock option plan as set forth in the Company's Information Circular dated April 19, 2012,

relating to options to subscribe for shares of the Company to be granted to certain directors, officers, employees
and service providers of the Company;

10. Authorization and empowerment of any director of the Company, or the Chief Executive Officer, acting on behalf

of the board of directors, to do all other acts and things as they shall at their discretion deem necessary or desirable
for the purpose of giving effect to any of the above items of the agenda and to see to and to accomplish any necessary
formalities with the relevant Luxembourg authorities in relation to the items of this agenda, including, but not
limited to, the filing of documents with the Luxembourg Register of Commerce and Companies and the publication

54919

U X E M B O U R G

of excerpts in the Mémorial, Recueil des Sociétés et Associations, and generally to perform any other action that
may be necessary or useful in relation thereto; and

11. To transact such further or other business as may properly come before the meeting or any adjournment or

adjournments thereof.

Shareholders are hereby informed that the resolutions shall be passed by a majority of the votes cast irrespective of

the number of shares present or represented.

Shareholders who are unable to attend the meeting are requested to complete, date, sign and return the enclosed

form of proxy in accordance with the instructions set out in the proxy and in the Information Circular accompanying this
notice. A Shareholder who wishes to attend the meeting may register with the Scrutineer before the meeting begins.

Dated April 19, 2012.

BY ORDER OF THE BOARD
Karl-Axel Waplan
President & CEO

If you are a non-registered shareholder of the Company and receive these materials through your broker or through

another intermediary, please complete and return the materials in accordance with the instructions provided to you by
your broker or by the other intermediary. Failure to do so may result in your shares not being eligible to be voted by
proxy at the meeting. See “Non-Registered Holders” in the accompanying Information Circular.

Référence de publication: 2012049567/250/51.

SPL Gestion, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 156.431.

Le Conseil d'Administration a l'honneur de convoquer les actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 15:00 heures («l'Assemblée») afin de délibérer sur l'ordre

du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a été refondu afin d'être conforme aux dispositions prévues

Référence de publication: 2012052383/755/24.

Corporate II, Société d'Investissement à Capital Variable.

Siège social: L-1115 Luxembourg, 2, boulevard Konrad Adenauer.

R.C.S. Luxembourg B 131.531.

Die Anteilinhaber der SICAV Corporate II werden hiermit zur

ORDENTLICHEN GENERALVERSAMMLUNG

eingeladen, die am 15. Mai 2012 um 11.30 Uhr in den Geschäftsräumen der Gesellschaft stattfindet.

Tagesordnung:

1. Bericht des Verwaltungsrates und des Wirtschaftsprüfers.
2. Genehmigung der vom Verwaltungsrat vorgelegten Bilanz sowie Gewinn- und Verlustrechnung für das Geschäfts-

jahr zum 31. Dezember 2011.

3. Entlastung des Verwaltungsrates.

54920

U X E M B O U R G

4. Verwendung des Jahresergebnisses.
5. Bestellung des Wirtschaftsprüfers.
6. Statutarische Ernennungen.
7. Verschiedenes.

Zur Teilnahme an der ordentlichen Generalversammlung und zur Ausübung des Stimmrechts sind diejenigen Antei-

linhaber berechtigt, die bis spätestens 10. Mai 2012 die Depotbestätigung eines Kreditinstitutes bei der Gesellschaft
einreichen, aus der hervorgeht, dass die Anteile bis zur Beendigung der Hauptversammlung gesperrt gehalten werden.
Anteilinhaber können sich auch von einer Person vertreten lassen, die hierzu schriftlich bevollmächtigt ist.

Die ordnungsgemäß einberufene Generalversammlung vertritt sämtliche Anteilinhaber. Die Anwesenheit einer Min-

destanzahl von Anteilinhabern ist nicht erforderlich. Beschlüsse werden mit einfacher Mehrheit der vertretenen Anteile
gefasst.

Luxemburg, im April/Mai 2012.

Der Verwaltungsrat .

Référence de publication: 2012048514/755/26.

REYL (Lux) GLOBAL FUNDS, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 90.383.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 15.30 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

1. Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes

de placement collectif et portant transposition de la directive 2009/65/CE

2. Refonte des statuts de la SICAV
L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a également été refondu afin d'être conforme aux dispo-

Référence de publication: 2012052382/755/23.

Poppediño S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue Saint Mathieu.

R.C.S. Luxembourg B 156.081.

Messieurs les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu mercredi 23 mai 2012 à 14:00 heures au siège social de la société, avec l'ordre du jour suivant:

Ordre du jour:

Le Conseil d'Administration.

Référence de publication: 2012052381/1267/15.

54921

U X E M B O U R G

Uni-Global, Société d'Investissement à Capital Variable.

Siège social: L-1724 Luxembourg, 9, boulevard du Prince Henri.

R.C.S. Luxembourg B 38.908.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra au siège social de la SICAV le 25 mai 2012 à 11.00 heures afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

•

Adaptation de la SICAV aux dispositions de la loi luxembourgeoise du 17 décembre 2010 concernant les organismes
de placement collectif et portant transposition de la directive 2009/65/CE

•

Refonte des statuts de la SICAV

L'Assemblée ne délibérera valablement que si la moitié au moins du capital est présente ou représentée. Les résolutions,

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501 - ifs.fds@bdl.lu) de leur intention d'assister
à l'Assemblée.

Dans le cadre de cette adaptation des statuts, le prospectus a été refondu afin d'être conforme aux dispositions prévues

Référence de publication: 2012052384/755/23.

BPER International Sicav, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 30, boulevard Royal.

R.C.S. Luxembourg B 61.517.

The shareholders of BPER INTERNATIONAL SICAV are invited to the

ANNUAL GENERAL MEETING

of the company that will take place at its registered office on 16 May 2012 at 11.00 a.m. (Luxembourg time) with the

following

Agenda:

1. Report of the Board of Directors and of the Auditor
2. Approval of the annual accounts as of 31 December 2011
3. Decision on the allocation of the results
4. Discharge to be given to the members of the Board of Directors
5. Statutory elections
6. Auditor's mandate
7. Miscellaneous
The latest version of the Annual Report is available free of charge during normal office hours at the registered office

of the Company in Luxembourg.

In order to participate in the Annual General Meeting, the shareholders need to deposit their shares at the latest at

16:00 (Luxembourg time) five days prior to the Annual General Meeting with the Custodian Bank, UBS (Luxembourg)
S.A., 33A, avenue J.F. Kennedy, L-1855 Luxembourg or at any other appointed paying agent. The majority at the annual
general meeting shall be determined according to the shares issued and outstanding at midnight (Luxembourg time) five
days prior to the Annual General Meeting (referred to as “record date”). There will be no requirement as to the quorum
in order for the Annual General Meeting to validly deliberate and decide on the matters listed in the agenda; resolutions
will be passed by the simple majority of the shares present or represented at the meeting. At the Annual General Meeting,
each share entitles to one vote. The rights of the shareholders to attend the Annual General Meeting and to exercise the
voting right attached to their shares are determined in accordance with the shares held at the record date.

If you cannot attend this meeting and if you want to be represented by the chairman of the Annual General Meeting,

please return a proxy, dated and signed by fax and/or mail at the latest five days prior to the Annual General Meeting
(the “record date”) to the attention of the Company Secretary at UBS FUND SERVICES (LUXEMBOURG) S.A., 33A,
avenue J.F. Kennedy, L-1855 Luxembourg, fax number +352 441010 6249. Proxy forms may be obtained by simple request
at the same address.

54922

U X E M B O U R G

The proxy form will only be valid if it includes the shareholder's and his/her/its legal representative's first name, surname

and number of shares held at the record date and official address and signature as well as voting instructions. Incomplete
or erroneous proxy forms or proxy forms, which do not comply with the formalities described therein, will not be taken
into account.

The Board of Directors.

Référence de publication: 2012049027/755/39.

Corporate III, Société d'Investissement à Capital Variable.

Siège social: L-1115 Luxembourg, 2, boulevard Konrad Adenauer.

R.C.S. Luxembourg B 131.532.

Die Anteilinhaber der SICAV Corporate III werden hiermit zur

ORDENTLICHEN GENERALVERSAMMLUNG

eingeladen, die am 15. Mai 2012 um 12.00 Uhr in den Geschäftsräumen der Gesellschaft stattfindet.

Tagesordnung:

1. Bericht des Verwaltungsrates und des Wirtschaftsprüfers.
2. Genehmigung der vom Verwaltungsrat vorgelegten Bilanz sowie Gewinn- und Verlustrechnung für das Geschäfts-

jahr zum 31. Dezember 2011.

3. Entlastung des Verwaltungsrates.
4. Verwendung des Jahresergebnisses.
5. Bestellung des Wirtschaftsprüfers.
6. Statutarische Ernennungen.
7. Verschiedenes.

Zur Teilnahme an der ordentlichen Generalversammlung und zur Ausübung des Stimmrechts sind diejenigen Antei-

Die ordnungsgemäß einberufene Generalversammlung vertritt sämtliche Anteilinhaber. Die Anwesenheit einer Min-

destanzahl von Anteilinhabern ist nicht erforderlich. Beschlüsse werden mit einfacher Mehrheit der vertretenen Anteile
gefasst.

Luxemburg, im April/Mai 2012.

Der Verwaltungsrat .

Référence de publication: 2012048515/755/26.

Beliere Holding S.A., Société Anonyme Soparfi.

Siège social: L-9990 Weiswampach, 45, Duarrefstrooss.

R.C.S. Luxembourg B 6.464.

Convocation à

l'ASSEMBLEE GENERALE ORDINAIRE

du 18 mai 2012 à 11.30 heures, au siège de la société.
L'ordre du jour est le suivant:

Ordre du jour:

1. Rapport de gestion du Conseil d'administration;
2. Rapport du Commissaire aux comptes;
3. Approbation du bilan et du compte des profits et pertes arrêtés au 31 décembre 2011

- Décision de l'affectation du résultat;

4. Décharge aux Administrateurs;
5. Décharge au Commissaire aux comptes;
6. Démissions - Nominations
7. Divers

Assemblée convoquée par le Conseil d'Administration.
Dépôt des «titres action»: au siège de la société ou par envoi recommandé à la poste 8 jours avant la tenue de

l'assemblée.

Référence de publication: 2012043429/22.

54923

U X E M B O U R G

Multis S.A., Société Anonyme.

Siège social: L-8070 Bertrange, 10B, rue des Mérovingiens.

R.C.S. Luxembourg B 88.538.

Mesdames et Messieurs les Actionnaires de la société MULTIS S.A. dont le siège social est situé 10B, rue des Méro-

vingiens, L-8070 Bertrange sont invités à participer à

l'ASSEMBLEE GENERALE ORDINAIRE STATUTAIRE

des Actionnaires qui se réunira au 10B, rue des Mérovingiens, L-8070 Bertrange, le 14 mai 2012 à 15.00 heures pour

délibérer sur l'ordre du jour suivant:

Ordre du jour:

1. Lecture des rapports des décisions circulaires du Conseil d'Administration et du Commissaire aux comptes con-

cernant les comptes annuels arrêtés au 31.12.2010

2. Approbation des comptes annuels arrêtés au 31.12.2010 et affectation des résultats
3. Décharge à accorder aux Administrateurs et au Commissaire aux comptes FIDUO (anciennement MAZARS) pour

l'exercice de leur mandat

4. Décision de la continuation de l'exploitation de la société en application de l'article 100 de la loi modifiée du 10

août 1915 sur les sociétés commerciales

5. Nomination d'un nouveau Commissaire aux comptes
6. Divers
Pour assister à cette Assemblée, Mesdames et Messieurs les Actionnaires sont priés de déposer leurs titres ou certi-

ficats de blocage cinq jours francs avant l'Assemblée au siège social de la société.

L'Assemblée pourra valablement délibérer sur l'ordre du jour selon la réglementation en vigueur.

Le Conseil d'Administration.

Référence de publication: 2012048527/25.

FIT Fund, Société d'Investissement à Capital Variable.

Siège social: L-7307 Steinsel, 50, rue Basse.

R.C.S. Luxembourg B 22.648.

L'ASSEMBLEE GENERALE ORDINAIRE

des actionnaires se tiendra le mardi 14 mai 2012 à 10.00 heures au siège de la société, 50, rue Basse à Steinsel avec

l'ordre du jour suivant:

Ordre du jour:

1. Rapports du Conseil d'administration et du Réviseur d'entreprises pour l'exercice clôturé au 31 décembre 2011.
2. Approbation de l'état des actifs nets et de l'état des variations des actifs nets pour l'exercice clôturé au 31 décembre

2011; affectation des résultats.

3. Décharge aux administrateurs pour l'exercice clôturé au 31 décembre 2011.
4. Nominations statutaires.
5. Divers.

Les actionnaires ayant l'intention d'assister à cette assemblée sont priés de bien vouloir en aviser la société par lettre,

télécopie ou téléphone au moins une heure avant l'ouverture de ladite assemblée.

Référence de publication: 2012046451/18.

Mineta S.A., Société Anonyme (en liquidation).

Siège social: L-2714 Luxembourg, 2, rue du Fort Wallis.

R.C.S. Luxembourg B 17.957.

Messieurs les actionnaires sont priés d'assister à

l'ASSEMBLEE GENERALE ORDINAIRE

des actionnaires qui aura lieu le vendredi, 18 mai 2012 à 10.00 heures au 163, rue du Kiem à L-8030 Strassen, avec

l'ordre du jour suivant:

Ordre du jour:

1. Présentation du bilan arrêté au 31 décembre 2011
2. Présentation du rapport intermédiaire des liquidateurs

54924

U X E M B O U R G

Pour prendre part à cette assemblée, Messieurs les actionnaires sont priés de déposer leurs actions au porteur le

mercredi, 9 mai 2012 entre 9.00 et 12.00 heures au siège social 2, rue du Fort Wallis à Luxembourg.

Le Collège des Liquidateurs.

Référence de publication: 2012048000/16.

UFG-LFP Funds, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 66.785.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la Sicav UFG-LFP FUNDS à

l'ASSEMBLEE GENERALE ORDINAIRE

qui se tiendra le 15 mai 2012 à 15.30 heures au siège social, afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

1. Rapport du Conseil d'Administration et du réviseur d'entreprises agréé
2. Approbation des comptes annuels arrêtés au 31 décembre 2011
3. Affectation des résultats
4. Quitus aux Administrateurs
5. Renouvellement du mandat du réviseur d'entreprises agréé
6. Nominations statutaires
7. Divers
Les Actionnaires sont informés que l'Assemblée n'a pas besoin de quorum pour délibérer valablement. Les résolutions,

pour être valables, doivent réunir la majorité des voix exprimées des Actionnaires présents ou représentés. Des procu-
rations sont disponibles au siège social de la Sicav. Les Actionnaires en nom seront admis sur justification de leur identité,
à condition d'avoir, au moins cinq jours francs avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924
2501 - ifs.fds@bdl.lu) de leur intention d'assister à l'Assemblée.

Référence de publication: 2012050108/755/22.

Corporate IV, Société d'Investissement à Capital Variable.

Siège social: L-1115 Luxembourg, 2, boulevard Konrad Adenauer.

R.C.S. Luxembourg B 141.161.

Die Anteilinhaber der SICAV Corporate IV werden hiermit zur

ORDENTLICHEN GENERALVERSAMMLUNG

eingeladen, die am 15. Mai 2012 um 11.00 Uhr in den Geschäftsräumen der Gesellschaft stattfindet.

Tagesordnung:

1. Bericht des Verwaltungsrates und des Wirtschaftsprüfers.
2. Genehmigung der vom Verwaltungsrat vorgelegten Bilanz sowie Gewinn- und Verlustrechnung für das Geschäfts-

jahr zum 31. Dezember 2011.

3. Entlastung des Verwaltungsrates.
4. Verwendung des Jahresergebnisses.
5. Bestellung des Wirtschaftsprüfers.
6. Statutarische Ernennungen.
7. Verschiedenes.

Zur Teilnahme an der ordentlichen Generalversammlung und zur Ausübung des Stimmrechts sind diejenigen Antei-

Die ordnungsgemäß einberufene Generalversammlung vertritt sämtliche Anteilinhaber. Die Anwesenheit einer Min-

destanzahl von Anteilinhabern ist nicht erforderlich. Beschlüsse werden mit einfacher Mehrheit der vertretenen Anteile
gefasst.

Luxemburg, im April/Mai 2012.

Der Verwaltungsrat .

Référence de publication: 2012048516/755/26.

54925

U X E M B O U R G

Wazzamba SA, Société Anonyme.

Siège social: L-1449 Luxembourg, 18, rue de l'Eau.

R.C.S. Luxembourg B 144.233.

Messieurs les actionnaires sont priés d'assister à

l'ASSEMBLEE GENERALE EXTRAORDINAIRE

qui se tiendra le 16 mai 2012 à 17.30 heures à l'Etude Maître Martine SCHAEFFER, 74, avenue Victor Hugo, L-1750

Luxembourg.

Ordre du jour:

1. Emission d'un emprunt obligataire convertible «zéro bond» pour un montant nominal total de deux millions cinq

cent mille euros (EUR 2.500.000,-).

2. Divers.

Pour participer à ladite assemblée, les actionnaires déposeront leurs actions, respectivement le certificat de dépôt au

bureau de l'assemblée générale, cinq jours francs avant la date de l'assemblée générale.

Le Conseil d'Administration.

Référence de publication: 2012048535/693/17.

Corporate Special, Société Anonyme sous la forme d'une SICAV - Fonds d'Investissement Spécialisé.

Siège social: L-1115 Luxembourg, 2, boulevard Konrad Adenauer.

R.C.S. Luxembourg B 132.035.

Die Anteilinhaber der SICAV Corporate Special werden hiermit zur

ORDENTLICHEN GENERALVERSAMMLUNG

eingeladen, die am 15. Mai 2012 um 13.00 Uhr in den Geschäftsräumen der Gesellschaft stattfindet.

Tagesordnung:

1. Bericht des Verwaltungsrates und des Wirtschaftsprüfers.
2. Genehmigung der vom Verwaltungsrat vorgelegten Bilanz sowie Gewinn- und Verlustrechnung für das Geschäfts-

jahr zum 31. Dezember 2011.

3. Entlastung des Verwaltungsrates.
4. Verwendung des Jahresergebnisses.
5. Bestellung des Wirtschaftsprüfers.
6. Statutarische Ernennungen.
7. Verschiedenes.

Zur Teilnahme an der ordentlichen Generalversammlung und zur Ausübung des Stimmrechts sind diejenigen Antei-

Die ordnungsgemäß einberufene Generalversammlung vertritt sämtliche Anteilinhaber. Die Anwesenheit einer Min-

destanzahl von Anteilinhabern ist nicht erforderlich. Beschlüsse werden mit einfacher Mehrheit der vertretenen Anteile
gefasst.

Luxemburg, im April/Mai 2012.

Der Verwaltungsrat .

Référence de publication: 2012048517/755/26.

DWS Garant, Société d'Investissement à Capital Variable.

Siège social: L-1115 Luxembourg, 2, boulevard Konrad Adenauer.

R.C.S. Luxembourg B 130.754.

Die Anteilinhaber der SICAV DWS Garant werden hiermit zur

ORDENTLICHEN GENERALVERSAMMLUNG

eingeladen, die am 15. Mai 2012 um 12:30 Uhr in den Geschäftsräumen der Gesellschaft stattfindet.

Tagesordnung:

1. Bericht des Verwaltungsrates und des Wirtschaftsprüfers.
2. Genehmigung der vom Verwaltungsrat vorgelegten Bilanz sowie Gewinn- und Verlustrechnung für das Geschäfts-

jahr zum 31. Dezember 2011.

54926

U X E M B O U R G

3. Entlastung des Verwaltungsrates.
4. Verwendung des Jahresergebnisses.
5. Bestellung des Wirtschaftsprüfers.
6. Statutarische Ernennungen.
7. Verschiedenes.
Zur Teilnahme an der ordentlichen Generalversammlung und zur Ausübung des Stimmrechts sind diejenigen Antei-

Die ordnungsgemäß einberufene Generalversammlung vertritt sämtliche Anteilinhaber. Die Anwesenheit einer Min-

destanzahl von Anteilinhabern ist nicht erforderlich. Beschlüsse werden mit einfacher Mehrheit der vertretenen Anteile
gefasst.

Luxemburg, im April/Mai 2012.

Der Verwaltungsrat.

Référence de publication: 2012048519/755/26.

Meridio Islamic Funds, Société d'Investissement à Capital Variable (en liquidation).

Siège social: L-5365 Munsbach, 1B, rue Gabriel Lippmann.

R.C.S. Luxembourg B 149.459.

Die Aktionäre der MERIDIO ISLAMIC FUNDS (SICAV) (in Liquidation) werden hiermit zu einer

AUSSERORDENTLICHEN GENERALVERSAMMLUNG

der Aktionäre eingeladen, die am 16. Mai 2012 um 09.30 Uhr am Amtssitz des Notars Henri HELLINCKX, 101, rue

Cents, L-1319 LUXEMBOURG stattfindet.

Die Tagesordnung lautet wie folgt:

Tagesordnung:

1. Genehmigung des Liquidationsberichts
2. Auflösung der Gesellschaft
3. Entlastung des Liquidators

Die Punkte der Tagesordnung unterliegen keiner Anwesenheitsbedingung und die Beschlüsse werden durch die ein-

fache Mehrheit der abgegebenen Stimmen der anwesenden oder vertretenen Aktionäre gefasst.

Aktionäre, die ihren Aktienbestand in einem Depot bei einer Bank unterhalten, werden gebeten, ihre depotführende

Bank mit der Übersendung einer Depotbestandsbescheinigung zu beauftragen, die bestätigt, dass die Aktien bis nach der
ordentlichen Generalversammlung gesperrt gehalten werden. Die Depotbestandsbescheinigung muss der Gesellschaft
fünf Arbeitstage vor der ordentlichen Generalversammlung vorliegen. Weiterhin können Aktionäre sich vertreten lassen.
Entsprechende Vollmachten sind am Sitz der Gesellschaft erhältlich.

Aktionäre, die an der ausserordentlichen Generalversammlung teilnehmen möchten, müssen sich zum o.g. Stichtag

vor der ausserordentlichen Generalversammlung am Sitz der Gesellschaft anmelden.

Der Verwaltungsrat.

Référence de publication: 2012049566/25.

REYL (Lux) GLOBAL FUNDS, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 90.383.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV REYL (LUX) GLOBAL FUNDS à

l'ASSEMBLEE GENERALE ORDINAIRE

qui se tiendra le 16 mai 2012 à 15.00 heures au siège social, afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

1. Rapport du Conseil d'Administration et du Réviseur d'Entreprises agréé
2. Approbation des comptes annuels arrêtés au 31 décembre 2011
3. Affectation des résultats
4. Quitus aux Administrateurs
5. Renouvellement du mandat du Réviseur d'Entreprises agréé
6. Nominations statutaires

54927

U X E M B O U R G

Les Actionnaires sont informés que l'Assemblée n'a pas besoin de quorum pour délibérer valablement. Les résolutions,

pour être valables, doivent réunir la majorité des voix exprimées des Actionnaires présents ou représentés. Des procu-
rations sont disponibles au siège social de la SICAV.

Pour pouvoir assister à la présente Assemblée, les détenteurs d'actions au porteur doivent déposer leurs actions, au

moins cinq jours francs avant l'Assemblée, auprès du siège ou d'une agence de la BANQUE DE LUXEMBOURG, Société
Anonyme à Luxembourg.

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501; e-mail: ifs.fds@bdl.lu) de leur intention
d'assister à l'Assemblée.

Référence de publication: 2012049571/755/25.

Reyl (Lux) Tactical Allocations, Société d'Investissement à Capital Variable.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 121.911.

Le Conseil d'Administration a l'honneur de convoquer les Actionnaires de la SICAV REYL (LUX) TACTICAL ALLO-

CATIONS à

l'ASSEMBLEE GENERALE ORDINAIRE

qui se tiendra le 16 mai 2012 à 15.30 heures au siège social, afin de délibérer sur l'ordre du jour suivant:

Ordre du jour:

Les Actionnaires sont informés que l'Assemblée n'a pas besoin de quorum pour délibérer valablement. Les résolutions,

pour être valables, doivent réunir la majorité des voix exprimées des Actionnaires présents ou représentés. Des procu-
rations sont disponibles au siège social de la SICAV.

Pour pouvoir assister à la présente Assemblée, les détenteurs d'actions au porteur doivent déposer leurs actions, au

moins cinq jours francs avant l'Assemblée, auprès du siège ou d'une agence de la BANQUE DE LUXEMBOURG, Société
Anonyme à Luxembourg.

Les Actionnaires en nom seront admis sur justification de leur identité, à condition d'avoir, au moins cinq jours francs

avant l'Assemblée, informé le Conseil d'Administration (fax: +352 49 924 2501; e-mail: ifs.fds@bdl.lu) de leur intention
d'assister à l'Assemblée.

Référence de publication: 2012049572/755/26.

Orco Property Group, Société Anonyme.

Siège social: L-2661 Luxembourg, 42, rue de la Vallée.

R.C.S. Luxembourg B 44.996.

A GENERAL MEETING

of the holders of bonds (the "Bondholders") registered under ISIN code: XS0223586420 as described in the Prospectus

(as defined below) issued by the Company in relation to the issue of EUR 24,169,193.39 bonds exchangeable in Suncani
Hvar shares issued by OPG on 30 June 2005, represented by 928,513 bonds of 26.03 EUR each (the "Bonds 2012"), for
which the visa on the prospectus was delivered by the CSSF on December 20, 2005 (the "Prospectus"), will be held at
42, rue de la Vallée, L-2661 Luxembourg, Grand Duchy of Luxembourg, on May 15, 2012 at 8:00 AM Central European
time ("CET") (the "Bondholders Meeting"), in order to consider and resolve on the following agenda:

Agenda:

1. Approval of the terms and conditions of the exchange of up to 89.9% of all Bonds 2012 for a consideration consisting

in newly issued common shares (the "Shares") of the Company ("OPG Conversion"), including but not limited to,
discussion and approval of the terms and conditions of the OPG Conversion (as such terms may be amended),
approval of all steps and actions, and entering into and performance of all the transactions, documents, agreements
contemplated, needed or useful in connection with the OPG Conversion, after presentation to the Bondholders
of (i) interim accounting situation of the Company, reviewed and certified by its auditor and (ii) a report established
by the board of directors of the Company, explaining the reasons of the OPG Conversion.

2. Delegation of power for implementation of the OPG Conversion to one of the représentant de la masse, including,

but not limited to, the power and mandate to finalize the terms and conditions of the OPG Conversion and to

54928

U X E M B O U R G

negotiate and agree the final terms and conditions of the OPG Conversion, subject to any non-substantial changes
to such terms and conditions of the OPG Conversion, as approved by the meeting, to negotiate, finalize and sign
any document, (including, but not limited to, any contribution agreement or subscription agreement) in connection
with the OPG Conversion and the subscription of the Shares on behalf of the Bondholders and to redistribute the
Shares to the Bondholders, and power to perform and execute all steps and actions, and entering into and per-
formance of all the transactions, documents, agreements contemplated, needed or useful in connection with the
OPG Conversion, including, but not limited to, informing the Commissaire à l'exécution du Plan of the Bondholders'
approval of the OPG Conversion and the corresponding proposed modifications of OPG's Plan de sauvegarde,
further to the official notification of such proposed modifications to be issued by the Greffe du Tribunal de com-
merce de Paris to the représentant de la masse pursuant to article R. 626-45 of the French Commercial Code, in
the course of OPG's Plan de sauvegarde's modification procedure.

3. Miscellaneous.
Please refer to Annex A attached to the present notice and the Company's website at www.orcogroup.com for further

details pertaining to the proposed OPG Conversion.

Note: The present notice constitutes a new convening notice for the Bondholders Meeting. Previous convening notices

related to the Bondholders' meeting to be held on April, 27, 2012 were cancelled with the agreement of the Bondholders
representative.

The Bondholders Meeting shall not validly deliberate on the agenda mentioned above, unless at least one half of the

total number of the Bonds 2012 outstanding at the time of the Bondholders Meeting is represented.

If such proportion of the total number of the Bonds 2012 is not met, a second meeting may be convened, by means

of notices published twice at eight days interval at least and eight days before the meeting in the Mémorial C, Recueil des
Sociétés et Associations and in one Luxembourg newspaper. The second meeting shall validly deliberate regardless of the
proportion of the Bonds 2012 represented.

At both meetings, in order for the resolutions to be adopted, they must be carried by at least two thirds (2/3) of the

votes cast by the Bondholders present or represented.

The Bondholders participation form which is necessary to participate to the Bondholders Meeting is at the disposal

of the Bondholders as from the date of publication of the present notice, at the registered office of the Company upon
request or downloaded from the Company's website at www.orcogroup.com or ultimately upon request to the financial
intermediaries or to the relevant central registration bank.

The auditor's report on review of interim financial information of the Company, to be presented to the Bondholders

Meeting may be inspected by the Bondholders at the registered office of the Company and in any offices the Company
may have outside Luxembourg, and notably, but not limited to, in Paris and Prague.

The report of the Company's board of directors, explaining the reasons of the OPG Conversion, to be presented to

the Bondholders Meeting may be inspected by the Bondholders at the registered office of the Company and in any offices
the Company may have outside Luxembourg, and notably, but not limited to, in Paris and Prague.

The proposed terms and conditions of the OPG Conversion may be inspected by the Bondholders at the registered

office of the Company and in any offices the Company may have outside Luxembourg, and notably, but not limited to, in
Paris and Prague.

Copies of the Prospectus, the articles of association of the Company are available on the Company's website at

www.orcogroup.com and at the registered office of the Company upon request.

The board of directors of the Company would like to point out that for Bondholders whose ownership is directly or

indirectly recorded in the Bond registry of the Company, the conditions for attendance or representation at the Bond-
holders Meeting are as follows:

1. Conditions for personal attendance
(i) Bondholders whose ownership is indirectly recorded in the bond registry of the Company
Bondholders whose ownership is indirectly recorded in the bond registry of the Company and who elect to attend

the Bondholders Meeting in person must use their usual applicable contacting method for informing their financial inter-
mediary, with whom their Bonds 2012 are on deposit, accordingly. They must further request their financial intermediary,
with whom their Bonds 2012 are on deposit, to send a Bondholders blocking certificate (the "Bondholders blocking
certificate") for their Bonds 2012 to the relevant central registration bank no later than 5 business days prior to the
Bondholders Meeting.

Such blocking certificate must indicate clearly the precise identity of the Bondholder, the number of Bonds 2012 being

blocked, the date such Bonds 2012 are being blocked, which must be no later than May 10, 2012 and a statement that
the relevant Bonds 2012 are registered in the local bank or brokers records in the holder's name and shall be blocked
until the close of the Bondholders Meeting.

The Bondholders must bring a copy of the Bondholders blocking certificate to the Bondholders Meeting.
The Bondholders shall also announce their intention to participate at the Bondholders Meeting by completing, signing,

dating and returning on no later than May 10, 2012 at the latest to the relevant central registration bank or to the Company
(ORCO PROPERTY GROUP S.A., 42, rue de la Vallée, L-2661 Luxembourg, to Mr. Christophe Le Priol or Mrs. Françoise

54929

U X E M B O U R G

de Jongh, département juridique), the Bondholders participation form that can be obtained at the registered office of the
Company upon request or downloaded from the Company's website at www.orcogroup.com or ultimately upon request
to the financial intermediaries or the relevant central registration bank.

(ii) Bondholders whose ownership is directly recorded in the bond registry of the Company
Bondholders whose ownership is directly recorded in the bond registry of the Company, shall announce their intention

to participate to the Bondholders Meeting by completing, signing, dating and returning on May 10, 2012, at the latest to
the relevant central registration bank or to the Company (ORCO PROPERTY GROUP S.A., 42, rue de la Vallée, L-2661
Luxembourg, to Mr. Christophe Le Priol or Mrs. Françoise de Jongh, département juridique) the Bondholders participation
form that can be obtained at the registered office of the Company upon request or downloaded from the Company's
website at www.orcogroup.com or ultimately upon request to the financial intermediaries or the relevant central regis-
tration bank.

2. Conditions for proxy voting or granting a mandate
(i) Bondholders whose ownership is indirectly recorded in the bond registry of the Company
Bondholders whose ownership is indirectly recorded in the bond registry of the Company and who are unable to

attend the Bondholders Meeting in person, may give a voting instruction to a third party that the Bondholder designates.

Prior to giving voting instructions to a proxy, this Bondholder must a) have obtained and delivered to the relevant

central registration bank the Bondholders blocking certificate described above (see "Conditions for personal attendance"),
and b) complete, sign and date the Bondholders participation form that can be obtained at the registered office of the
Company upon request or downloaded from the Company's website at www.orcogroup.com or ultimately upon request
to the financial intermediaries or the relevant central registration bank, indicating the name of the proxy.

The completed, signed and dated Bondholders participation form must be returned to the relevant central registration

bank or to the Company (ORCO PROPERTY GROUP S.A., 42, rue de la Vallée, L-2661 Luxembourg, to Mr. Christophe
Le Priol or Mrs. Françoise de Jongh, département juridique) no later than May 10, 2012, at the latest, in order to have
that name recorded on the registration list of the Bondholders Meeting.

If a Bondholder wishes to be represented by a proxy other than the Chairman of the Bondholders Meeting, then this

holder must (a) have obtained and delivered to the relevant central registration bank the Bondholders blocking certificate
described above (see "Conditions for personal attendance"), and (b) complete, sign and date the Bondholders participation
form that can be obtained at the registered office of the Company upon request or downloaded from the Company's
website at www.orcogroup.com or ultimately upon request to the financial intermediaries or the relevant central regis-
tration bank, indicating the name of the proxy. The completed, signed and dated Bondholders participation form must
be returned to the relevant central registration bank or to the Company (ORCO PROPERTY GROUP S.A., 42, rue de
la Vallée, L-2661 Luxembourg, to Mr. Christophe Le Priol or Mrs. Françoise de Jongh, département juridique) no later
than May 10, 2012, at the latest, in order to have that name recorded on the registration list of the Bondholders Meeting.

Bondholders who have obtained the Bondholders blocking certificate and have executed a Bondholders participation

form but who wish to revoke such proxy may do so at any time by timely delivering a properly executed, later dated
participation form no later than May 10, 2012, at the latest, or by properly attending and voting in person at the Bond-
holders Meeting.

Simply attending the Bondholders Meeting without voting will not revoke the proxy.
(ii) Bondholders whose ownership is directly recorded in the bond registry of the Company.
Bondholders whose ownership is directly recorded in the bond registry of the Company must complete, sign and date

the Bondholders participation form that can be obtained at the registered office of the Company upon request or down-
loaded from the Company's website at www.orcogroup.com or ultimately upon request to the financial intermediaries
or the relevant central registration bank.

The completed, signed and dated Bondholders participation form must be returned to the relevant central registration

3. Request for information and central registration banks
Bondholders looking for more information can do so by:
(i) contacting the Company's services directly:
* At the registered office of the Company- Legal Department
Tel.: +352 26 47 67 1
Fax.: +352 26 47 67 67
(ii) contacting one of the central registration banks :
* For Bonds 2010 that are included in the Clearstream Banking or Euroclear Bank system and that are admitted to

trading on the Euro MTF:

CACEIS Corporate Trust
Service assemblées
14 rue du Rouget de Lisle F-92889 Issy les Moulineaux

54930

U X E M B O U R G

Fax : +33 1.49.08.05.82
Email: CT-Contact@caceis.com

Luxembourg, April 27, 2012.

The Board of Directors of the Com-

pany.

Annex A:
PROPOSED TERMS AND CONDITIONS OF THE OPG CONVERSION
The OPG Bonds: The following bond issues (each a "Tranche"), all of which are subject to the terms and conditions

of the plan de sauvegarde of the Company as approved by the Paris Commercial Court on 19 May 2010 (the "Plan de
Sauvegarde"):

* EUR 50,272,605.30 OBSAR 1 bonds issued by OPG on 18 November 2005 (ISIN - FR0010249599, "OPG Bonds

2010");

* CZK 300,000,000.00 Czech Bonds issued by OPG on 3 February 2006 (ISIN - CZ0000000195, "OPG Bonds 2011").

As of the date of this document, EUR11,631,934 of nominal OPG Bonds 2011 remain outstanding;

* EUR 149,999,928.00 Convertible Bonds issued by OPG on 1 June 2006 (ISIN - FR0010333302 , "OPG Bonds 2013");
* EUR 175,000,461.60 OBSAR 2 bonds issued by OPG on 28 March 2007 (ISIN - XS0291838992 / XS0291840626,

"OPG Bonds 2014"); and

* EUR 24,169,193.39 Exchangeable Bonds in Suncani Hvar Shares issued by OPG on 30 June 2005(ISIN -

XS0223586420, "OPG Bonds 2012").

together, the "OPG Bonds" and holders thereof, "OPG Bondholders".
The OPG Bonds are deemed to correspond to an aggregate amount of EUR 548.5m (the "Claim") for the sole purpose

of the Transaction and only if the Transaction is fully implemented.

The OG Bonds: EUR 100,100,052 five-year bonds issued by OG as per a prospectus dated 24 May 2007 (ISIN -

XS0302623953, the "OG Bonds" and holders thereof, "OG Bondholders"). The OG Bonds correspond to a global amount
of EUR 129.1 million including accrued interests and reimbursement premium. To such OG Bonds were attached warrants
registered under ISIN code XS0302626899 (the "OG Warrants", and holders thereof the "OG Warrantholders").

Overview of the Transaction: The transaction proposed by an ad-hoc committee of OPG Bondholders representing

approximately 1/3 of the nominal value of the OPG Bonds (the "Transaction") contemplates a restructuring launched by
the Company whereby the OPG Bonds would be exchanged for a consideration consisting of (i) newly issued common
shares of the Company (the "Shares") and (ii) new debt instruments.

In case of scenario 2 as described below, Transaction shall mean a restructuring launched by the Company whereby :
* the OPG Bonds would be exchanged for a consideration consisting of (i) newly issued common shares (the "Shares")

of the Company and (ii) new debt instruments (the "OPG Transaction"); and

* the OG Bonds would be exchanged for a consideration consisting of (i) new bonds to be issued by OPG and

convertible into shares of the Company, OG shares or cash (the "OCA") and (ii) new debt instruments (the "OG Trans-
action").

I. KEY ECONOMIC TERMS
The proposed Transaction shall consist in:
A. Scenario 1 (transaction with OPG Bondholders only, in all cases other than those set out under scenario 3 below) :
(i) The mandatory exchange of 86.3% of the number of the OPG Bonds of each Tranche for new Shares to be issued

upon a decision of the extraordinary general meeting ("EGM") of the shareholders of OPG (the "OPG Equity Conside-
ration 1"),

it being specified that, subject to the conditions set out below, the mandatory exchange will not be carried out for any

Tranche unless it is carried out for the OPG Bonds 2010, the OPG Bonds 2013 and the OPG Bonds 2014 Tranches, and

(ii) The exchange on a voluntary basis of the remaining OPG Bonds of each Tranche, the mandatory exchange of which

as referred to in A.(i) above has been performed, against new bonds to be issued by OPG within the framework of a
public exchange offer (the "New Notes Consideration 1"). Any outstanding OPG Bonds not exchanged on a voluntary
basis shall retain the terms and conditions as per the Plan de Sauvegarde.

(iii) The free allocation to each existing shareholder of OPG of one warrant per OPG share, that would each give right

to the subscription of one new Share at a price of EUR 4.10, with a 3-month maturity.

(iv) In this scenario, OPG shall not, and procures that OG shall not, offer to the OG Bondholders any consensual

transaction that would provide economic terms and conditions more favorable for the OG Bondholders than those
approved by the OG Bondholders' meeting on 5 April 2012.

B. Scenario 2 (global transaction with both OPG Bondholders and OG Bondholders):
(i) The mandatory exchange of:
a) for the OPG Bonds, 89.9% of the number of the OPG Bonds of each Tranche for new Shares to be issued upon a

decision of the EGM of the shareholders of OPG (the "OPG Equity Consideration 2"); it being specified that, subject to

54931

U X E M B O U R G

the conditions set out below, the mandatory exchange will not be carried out for any Tranche unless it is carried out for
the OPG Bonds 2010, the OPG Bonds 2013 and the OPG Bonds 2014 Tranches, and

b) for the OG Bonds, 84.5% of the number of the OG Bonds for new bonds convertible into Shares (the "OCA") to

be issued upon a decision of the board of directors of OPG (the "OG Equity Consideration");

(ii) the exchange on a voluntary basis of :
a) the remaining OPG Bonds of each Tranche, the mandatory exchange of which as referred to in B.(i)(a) above has

been performed, against new bonds to be issued by OPG within the framework of a public exchange offer (the "New
Notes Consideration 2"). Any outstanding OPG Bonds not exchanged on a voluntary basis shall retain the terms and
conditions as per the Plan de Sauvegarde;

b) the remaining OG Bonds, after the mandatory exchange as referred to in B.(i)(b) above has been performed, against

new bonds to be issued by OPG within the framework of an exchange public offer (the "OG New Notes Consideration").
The terms and conditions of any outstanding OG Bonds not exchanged on a voluntary basis shall be amended to have
their maturity postponed to 2050 and their interest rate lowered to 0.5% per annum, with effect immediately after the
closing of the voluntary public exchange offer.

If OG Bondholders and/or OG Warrantholders meetings do not approve Scenario 2, then scenario 3 or if applicable

scenario 1 will apply.

C. Scenario 3 (transaction with OPG Bondholders only in case the OPG Bond Conversion Condition is fulfilled, as

defined in the terms and conditions of the OCA approved by the OG Bondholders general meeting of April 5, 2012, it
being agreed that under such scenario the OG Bondholders shall convert 100% of their claims under the OG Bonds into
OPG equity instruments for no more than 27.2 million Shares and shall not receive any OG equity instruments nor any
debt consideration):

(i) The mandatory exchange of 73.6% of the number of the OPG Bonds of each Tranche for new Shares to be issued

upon a decision of the extraordinary general meeting ("EGM") of the shareholders of OPG (the "OPG Equity Conside-
ration 3"),

it being specified that, subject to the conditions set out below, the mandatory exchange will not be carried out for any

Tranche unless it is carried out for the OPG Bonds 2010, the OPG Bonds 2013 and the OPG Bonds 2014 Tranches, and

(ii) The exchange on a voluntary basis of the remaining OPG Bonds of each Tranche, the mandatory exchange of which

as referred to in C.(i) above has been performed, against new bonds to be issued by OPG within the framework of a
public exchange offer (the "New Notes Consideration 1"). Any outstanding OPG Bonds not exchanged on a voluntary
basis shall retain the terms and conditions as per the Plan de Sauvegarde.

I-1. OPG Equity Consideration
1. Size of Share Issue:
Under scenario 1:
97,900,000 Shares for a value of EUR 473.3 million; or
Under scenario 2:
65,000,000 Shares for a value of EUR 493.3 million; or
Under scenario 3:
45,000,000 Shares for a value of EUR 403.8 million.
2. Subscribers to the Shares Issue: OPG Bondholders will be reserved the subscription to the Shares by way of exchange

with their OPG Bonds.

For all Tranches, the ratio for the exchange of OPG Bonds for new Shares shall be defined pro rata of the portion of

the Claim allocated to each relevant Tranche taking into account possible rounding differences.

3. Documentation: A documentation shall be established for the purpose of the Share Issue and/or the admission of

the Shares to trading and in particular a prospectus which shall be drafted in accordance with the provisions of Luxembourg
law dated 10 July 2005 on prospectuses for securities (the "Prospectus Law") and approved by the competent authority
(the Commission de Surveillance du Secteur Financier, the "CSSF").

4. Timing of exchange: The exchange of OPG Bonds for new Shares shall occur on or after the date on which the

CSSF has approved the prospectuses relating to the Shares, the New Notes and, in scenario 1, the Warrants. This
condition is stipulated to the benefit of the OPG Bondholders and may be waived by a decision of the relevant general
meetings of the OPG Bondholders.

I-2. OG Equity Consideration
Under scenario 1 : under scenario 1, OPG shall not, and procures that OG shall not, offer to the OG Bondholders

any consensual transaction that would provide economic terms and conditions more favorable for the OG Bondholders
than those approved by the OG Bondholders' meeting on 5 April 2012.

Under scenario 2: the OG Equity consideration shall consist in the OCA the terms and conditions of which are

described as follows:

1. Main terms of the OCA: 84.5% of the number of the OG Bonds shall convert for their total nominal amount, accrued

interest and reimbursement premium (EUR 109.1 million) into OCA two business days after the date on which the

54932

U X E M B O U R G

meetings of the holders of OPG Bonds 2010, OPG Bonds 2013 and OPG Bonds 2014 are held to resolve on the OPG
Transaction and have approved the OPG Transaction at the relevant majority (the "OCA Issue Date").

If this condition is not met by 18 May 2012, the decision of the OG Bondholders to convert their OG Bonds into

OCA shall lapse and the Company shall issue at the latest on 21 May 2012 the convertible bonds the issue of which was
decided on 5 April 2012 by the OG Bondholders, it being acknowledged that in such case the "OPG Bond Conversion
Condition" set out in the terms and conditions of the convertible bonds approved by the OG Bondholders on 5 April
2012 shall be irrevocably deemed to not have been met.

The OCA are convertible as follows
* First Payment: OCA in an aggregate amount of EUR 76,000,000 are converted into 18,361,548 OPG Shares no later

than 22 May 2012.

* Second Payment: up to 28 September 2012 (28 September 2012 being referred to as the "Exchange Date"), the OCA

in an aggregate amount of EUR 33,129,067 (the "Second Payment Amount").

(i) up to 16 July 2012, can be repaid, at the option of the Company, in full but not in part, by the Company, in cash in

immediately available funds; for the avoidance of doubt, in the event the Company elects to repay in cash but fails to make
such payment, the Company shall be deemed not to have elected to make such cash payment and the OCA shall convert
into shares as provided below; it being specified that in case the Company elects to repay in cash the OCA as set forth
in this paragraph (i), then OG shall repay in cash the remaining outstanding OG Bonds in immediately available funds in
an amount of EUR 872.04 per one OG Bond; or

(ii) up to 28 September 2012, can be converted into OPG shares, representing a total number of 7,848,081 OPG

shares, as decided by a meeting of the OCA holders (at a majority vote of 50% plus 1 OCA of all the OCA outstanding).

On the Exchange Date, and provided they have not already been repaid in cash in immediately available funds or

converted pursuant the paragraph above, the OCA in an aggregate amount equal to the Second Payment Amount, shall
be converted into shares as follows:

(i) if and provided that (x) the OPG Bond Conversion Condition is met three (3) business days prior to the Exchange

Date (the "Longstop Date") and that (y) in accordance with paragraph II.5(ii)(c) below and provided that the Company
has filed in due course all necessary court papers for the hearing scheduled on or about 14 May 2012, the Paris Commercial
Court has approved, on or before the Longstop Date, the amended terms of the Plan de Sauvegarde in order to enable
the implementation of the substance of the Transaction, it being agreed that such Longstop Date shall be extended pro
rata if the court hearing scheduled on 14 May 2012 is postponed or reconvened for whatever reason (the "Court Approval
Condition"), then the OCA shall be converted into OPG shares, representing a total number of 7,848,081 OPG Shares;

(ii) if and provided (x) the OPG Bond Conversion Condition is not met on the Longstop Date or (y) the Court Approval

Condition is not met on the Longstop Date as such Longstop Date may be extended pursuant to section (i)(y) above,
the OCA shall, as decided by the meeting of the OCA holders (at a majority vote of 50% plus 1 OCA of all the OCA
outstanding), be converted into either:

- OPG shares representing a total number of 7,848,081 OPG Shares; or
- OG shares in a number representing, on the Exchange Date and after completion of the OG Bond Equitization (as

defined below) and the Nominal Value Reduction (as defined below), 55% of the share capital and voting rights of OG
on a fully diluted basis, it being specified that, in the event the Company elects not to repay the OCA in cash, the election
decision of the OCA holders referred to in this paragraph shall not be required to be made by 21 September 2012 but
can be extended as necessary to allow for proper notice period, quorum, and majority decision of the OCA holders'
meeting to be taken in accordance with applicable laws (in which case, the Exchange Date shall be postponed accordingly).

If the OCA converts into 55% of OG shares in accordance with the above provisions, only those OCA holders who

have remitted to the Company (i) their OCA and (ii) their remaining OG Bonds shall receive their pro rata number of
OG shares calculated on the basis of the number of OCA and remaining OG Bonds remitted by them, it being specified
that the total of all remaining OCA and OG Bonds shall equal 55% of the OG shares.

Prior to the Second Payment, the Company shall:
(a) vote at the relevant shareholders' meeting of OG resolving the OG Bonds Equitization in favor of a reduction of

the nominal value of each share issued by OG (the "Nominal Value Reduction");

(b) convert the EUR 109.1 million including the accrued coupons of OG Bonds that the Company holds into additional

new shares of OG in a number which shall be determined on the basis of the volume weighted average price of OG
shares on the main market of the Frankfurt stock exchange over a period of 6 (six) months prior to 20 March 2012 (the
"OG Bonds Equitization").

The Longstop Date may be extended at the request of the Company provided that such extension has been agreed

by a decision of the OCA holders (taken in accordance with the quorum and majority requirements provided for by law
in a meeting of OCA holders convened and held prior to 21 September 2012).

2. Listing of the OPG shares / OG shares: OPG and OG shall take all necessary steps and use their best efforts to

obtain, the admission to listing, on the regulated markets on which OPG's and OG ordinary shares are currently listed,
of the OPG or OG shares to be issued or delivered upon conversion of the OCA as soon as possible after the issue of
the OCA, and will use their best efforts to maintain such admission to listing.

54933

U X E M B O U R G

3. Condition for the conversion of the OCA under the First Payment: The conversion of the OCA into OPG Shares

under the First Payment shall occur as soon as possible after, and at the latest on the third business day following, the
OCA Issue Date.

4. Condition for the conversion of the OCA under the Second Payment: The conversion of the OCA into OPG Shares

under the Second Payment, as the case may be, shall occur on or after the date on which the CSSF has approved the
prospectuses relating to such OPG Shares and the New Notes. This condition is stipulated to the benefit of the OCA
holders and may be waived by a decision of the general meeting of the OCA holders no later than 13 July 2012 (at a
majority vote of 50% plus 1 OCA of all the OCA outstanding), in which case the OPG Shares shall be issued at the date
decided by such general meeting of OCA holders.

5. The OPG Bond Conversion Condition: "OPG Bond Conversion Condition" means the approval of the OPG Trans-

action as described in this annex A at the relevant majority by the general meetings of the OPG Bondholders holding the
OPG Bonds 2010, OPG Bonds 2013 and OPG Bonds 2014.

6. Transfer Restrictions / Listing of the OCA: The OCA shall not be negotiable on the capital markets and shall not

be offered to the public.

The OCA shall not be listed and/or admitted to trading on any stock exchange within the European Economic Area

nor on a stock exchange outside the European Economic Area.

7. Status of the OCA: The OCA shall constitute direct, general and unconditional obligations of OPG which will at

any time rank pari passu among themselves and at least pari passu with all the other present and future unsecured
obligations of OPG, save for such obligations as may be preferred by provisions of law that are both mandatory and of
general application.

8. Interest: The OCA shall bear an interest per year of 0.01% (the "Interest") from, and including, the issue date until,

and including, the Exchange Date, calculated on the basis of a year of 360 days. The Interest shall be paid by OPG in one
instalment on the date of the Second Payment.

For the avoidance of doubt, the First Payment Amount shall bear no interest.
9. Security: The OCA holders shall benefit, as from the issue date, from a lien over 55% of all shares issued by OG

and held by OPG as collateral in a separate securities account that shall be pledged to the benefit of the OCA holders
for (i) the repayment in cash of the OCA, if any, and (ii) the conversion of the OCA into OG shares, if any, in accordance
with the provisions above; it being agreed that this pledge shall not secure the conversion of the OCA into OPG shares.

10. Applicable Law: Luxembourg Law
Under scenario 3: not applicable under these terms and conditions.
I-3. New Notes Consideration 1 under scenarios 1 and 3
1. Issuer: Orco Property Group SA (the "Company" or "OPG").
2. Issue Date of the New Notes: After the granting of the authorisation by the Commercial Court of Paris pursuant

to the Plan de Sauvegarde to proceed to such public exchange offer and promptly after closing of the offer period of the
public exchange offer which shall begin after approval by the CSSF of the terms and conditions of the public exchange
offer, such approval being scheduled to occur upon closing of the OPG Equity Consideration.

3. Nominal Amount:
Scenario 1:
The OPG Bondholders who accept the proposed exchange referred to in under paragraph I.A.(ii) above will receive

new debt instruments (the "New Notes"), in exchange for their residual OPG Bonds post completion of the mandatory
exchange referred to in paragraph I.A.(i) above.

The proposed amount of the New Notes to be issued assuming 100% participation by the OPG Bondholders to the

voluntary exchange offer shall be of up to EUR75.2 million (such amount shall be adjusted to take into account the final
size of the Share Issue under the Equity Consideration after rounding).

Scenario 3:
The OPG Bondholders who accept the proposed exchange referred to in under paragraph I.C.(ii) above will receive

new debt instruments (the "New Notes"), in exchange for their residual OPG Bonds post completion of the mandatory
exchange referred to in paragraph I.C.(i) above.

The proposed amount of the New Notes to be issued assuming 100% participation by the OPG Bondholders to the

voluntary exchange offer shall be of up to EUR144.7 million (such amount shall be adjusted to take into account the final
size of the Share Issue under the Equity Consideration after rounding).

4. Security: None.
5. Maturity: 28 February 2018 (the "Maturity Date").
6. Coupon: The New Notes will bear a coupon per annum of
(i) 5% cash plus 5% PIK, as long as more than 75% of the Nominal Amount remain outstanding
(ii) 4% cash plus 4% PIK, as long as more than 50% but no more than 75% of the Nominal Amount remain outstanding
(iii) 4% cash plus 3% PIK, as long as no more than 50% of the Nominal Amount remain outstanding

54934

U X E M B O U R G

The PIK element of the coupon shall, subject to the provisions of article 1154 of the Luxembourg civil code, be

compounding annually from the Issue Date until the Maturity Date and remains subject to the issuance by the Company
of a capitalisation notice each year in relation to interest accrued and due for more than 1 year; if such notice is not
refused by the holders of the New Notes within a period to be agreed in the final documentation, then it will be deemed
to be accepted by them.

7. Amortisation Dates:
* 28 February 2015: 25% of the Nominal Amount;
* 28 February 2016: 25% of the Nominal Amount;
* 28 February 2017: 25% of the Nominal Amount;
* 28 February 2018: The outstanding principal amount of the New Notes.
8. Redemption: In cash only at the Amortisation Dates.
9. Mandatory Prepayment on Asset Disposals: In scenario 1, the Company will procure that 25% of the Net Proceeds

(as defined below) received from the earlier of (i) 30 June 2012 onwards and (ii) the Issue Date of the New Notes, by
OPG or any of its subsidiaries as a result of the disposal of the following assets is applied in prepayment of the New Notes
(the "Prepaid Amounts"):

* Fillion Shopping Center
* Radio Free Europe
* Vaci 1
* CEE Hotels (including Pachtuv Palace)
* Na Porici
* Hradcanska
* Diana Office
* Capellen
* Stribro
* Marki
* Vaci 188
* Paris Department Store
* Zlota (only upon completion of project development)
* Molcom (any part of the deferred payment amount in excess of EUR20m and any earn-out component).
The Prepaid Amounts should reduce the upcoming payments due as per the Amortisation Dates in straight chrono-

logical order and shall be paid within 30 business days from receipt of Net Proceeds by OPG but in any case no earlier
than the Issue Date of the New Notes.

"Net Proceeds" shall mean the gross sale proceeds less (a) liabilities becoming due at disposal including bank cash

sweep, (b) disposal expenses and (c) taxes becoming due at disposal.

In scenario 3, the Prepaid Amounts shall amount to 37.5% of the Net Proceeds.
10. Other Terms and Conditions: The terms and conditions of the New Notes will include customary provisions in

terms of events of default, covenants, negative pledge provisions and applicable law, including the following:

Applicable law: Luxembourg law.
Status of New Notes: direct, unconditional, and unsubordinated obligations ranking pari passu.
Negative Pledge

: Only on OPG S.A. level (excluding the share pledge on 55% of all shares issued by OG for the

benefit of the OCA holders)

Incurrence of Financial Indebtedness:
- limitation on the incurrence of new indebtedness by OPG subsidiaries such that LTV is not in excess of 65% (excluding

any refinancing of any existing indebtedness)

- limitation on the incurrence of new indebtedness by OPG S.A. and by OG S.A. in excess of EUR 5 million (excluding

any refinancing of any existing indebtedness)

Early redemption in case of Event of Default:
Grace periods:
- payment default (principal, interest or any other amount in respect of the New Notes): 5 business days;
- default in relation to any other obligations: 30 days.
Enforcement action provision.
Cross-default : no cross-default provision.
The New Notes shall not be due if the Company remedies the situation no later than the day preceding the general

meeting of the holders of the New Notes resolving on the occurrence of an Event of Default.

Early redemption at Company's discretion: at any time at 100% of the Nominal Amount.

54935

U X E M B O U R G

Repurchase of New Notes by the Company on secondary market: at any time at arm's length terms subject to New

Notes repurchased being cancelled as soon as possible thereafter. For the avoidance of doubt, New Notes repurchased
by the Company will not qualify for the Mandatory Prepayment on Asset Disposals referred to above;

Representation of the noteholders: the noteholders will be represented and the general meetings of noteholders will

be organized in accordance with the provisions of articles 86 to 94-8 of the Luxembourg act dated 10 August 1915 on
commercial companies, as amended.

Restrictions on transfer of New Notes: none.
Save as otherwise provided in these Heads of Terms, the terms and conditions of the New Notes will be similar to

those of the OPG Bonds.

11. Documentation:
* A prospectus for the public offer of the New Notes will have to be drafted in accordance with the provisions of the

Prospectus Law. This prospectus will also have to be approved by the CSSF.

* An exchange offer memorandum shall be drafted to inform the OPG Bondholders on the possibility to accept the

public exchange offer and the terms of the public exchange offer.

I-4. OPG and OG New Notes Consideration under scenario 2
Under scenario 2, the OPG and OG New Notes Consideration as referred to in section I.B.(ii) above shall have the

following terms.

1. Issuer: Orco Property Group SA (the "Company" or "OPG").
2. Issue Date of the New Notes: After the granting of the authorisation by the Commercial Court of Paris pursuant

to the Plan de Sauvegarde to proceed to such public exchange offer and promptly after closing of the offer period of the
public exchange offer which shall begin after approval by the CSSF of the terms and conditions of the exchange public
offer, such approval being scheduled to occur upon closing of the OPG Equity Consideration and the OG Equity Consi-
deration transactions.

In the case where (i) the mandatory exchange of the OG Bonds as referred to in paragraph I.B (i)(b) above has been

performed and (ii) the mandatory exchange of the OPG Bonds as referred to in paragraph I.B(i)(a) above has not been
performed, on or before 30 September 2012, this shall not prevent the voluntary public exchange offer referred to above
being opened to the holders of OG Bonds.

It being specified that the voluntary public exchange offer as referred to above shall not be offered to the OG Bond-

holders in the case (i) where the OCA are repaid in cash by the Company in accordance with paragraph I-2.1(i) above
or (ii) where the OCA holders would have elected to obtain OG shares in accordance with paragraph I-2.1(ii) of this
Annex.

In the case where (i) the mandatory exchange of the OPG Bonds as referred to in paragraph I.B(i)(a) above has been

performed and (ii) the mandatory exchange of the OG Bonds as referred to in paragraph I.B(i)(b) above has not been
performed, on or before 30 September 2012, this shall not prevent the voluntary public exchange offer referred to above
to be opened to the holders of the OPG Bonds.

3. Nominal Amount: The OPG Bondholders and the OG Bondholders who accept the proposed exchange referred

to in paragraph I.B(ii) above will receive new debt instruments (the "New Notes"), in exchange for their residual OPG
Bonds or OG Bonds, as the case may be, post completion of the mandatory exchange I.B(i) above.

The proposed amount of the New Notes to be issued assuming 100% participation by the OPG Bondholders and the

OG Bondholders to the voluntary exchange offer shall be of up to, respectively:

* as regards the OPG bondholders, EUR 55.2 million (such amount shall be adjusted to take into account the final size

of the Share Issue under the OPG Equity Consideration after rounding);

* as regards the OG bondholders, EUR 20 million (such amount shall be adjusted to take into account the final size of

the OCA issue under the OG Equity Consideration after rounding).

7. Amortisation Dates:
* 28 February 2015: 25% of the Nominal Amount;

54936

U X E M B O U R G

* 28 February 2016: 25% of the Nominal Amount;
* 28 February 2017: 25% of the Nominal Amount;
* 28 February 2018: The outstanding principal amount of the New Notes.
8. Redemption: In cash only at the Amortisation Dates.
9. Mandatory Prepayment on Asset Disposals: The Company will procure that 25% of the Net Proceeds (as defined

below) received from the earlier of (i) 30 June 2012 onwards and (ii) the Issue Date of the New Notes, by the Company
or any of its subsidiaries as a result of the disposal of the following assets is applied in prepayment of the New Notes (the
"Prepaid Amounts"):

* Fillion Shopping Center
* Radio Free Europe
* Vaci 1
* CEE Hotels (including Pachtuv Palace)
* Na Porici
* Hradcanska
* Diana Office
* Capellen
* Stribro
* Marki
* Vaci 188
* Paris Department Store
* Zlota (only upon completion of project development)
* Molcom (any part of the deferred payment amount in excess of EUR20m and any earn-out component)
* Sky Office, to the extent such proceeds are not applied to the GSG refinancing
The Prepaid Amounts should reduce the upcoming payments due as per the Amortisation Dates in straight chrono-

logical order and shall be paid within 30 business days from receipt of Net Proceeds by OPG but in any case no earlier
than the Issue Date of the New Notes.

"Net Proceeds" shall mean the gross sale proceeds less (a) liabilities becoming due at disposal including bank cash

sweep, (b) disposal expenses and (c) taxes becoming due at disposal.

10. Other Terms and Conditions: The terms and conditions of the New Notes will include customary provisions in

terms of events of default, covenants, negative pledge provisions and applicable law, including the following:

Applicable law: Luxembourg law.
Status of New Notes: direct, unconditional, and unsubordinated obligations ranking pari passu.
Negative Pledge

: Only on OPG S.A. level (excluding the share pledge on 55% of all shares issued by OG for the

benefit of the OCA holders as referred to above)

Incurrence of Financial Indebtedness:
- limitation on the incurrence of new indebtedness by OPG subsidiaries such that LTV is not in excess of 65% (excluding

any refinancing of any existing indebtedness)

- limitation on the incurrence of new indebtedness by OPG S.A. and OG SA in excess of EUR 5 million (excluding any

refinancing of any existing indebtedness)

Early redemption in case of Event of Default:
Grace periods:
- payment default (principal, interest or any other amount in respect of the New Notes): 5 business days
- default in relation to any other obligations: 30 days
Enforcement action provision.
Cross-default : no cross-default provision.
The New Notes shall not be due if the Company remedies the situation no later than the day preceding the general

meeting of the holders of the New Notes resolving on the occurrence of an Event of Default.

Early redemption at Company's discretion: at any time at 100% of the Nominal Amount.
Repurchase of New Notes by the Company on secondary market: at any time at arm's length terms subject to New

Representation of the noteholders: the noteholders will be represented and the general meetings of noteholders will

be organized in accordance with the provisions of articles 86 to 94-8 of the Luxembourg act dated 10 August 1915 on
commercial companies, as amended.

Restrictions on transfer of New Notes: none.

54937

U X E M B O U R G

Save as otherwise provided in these Heads of Terms, the terms and conditions of the New Notes will be similar to

those of the OPG Bonds.

11. Documentation:
* A prospectus for the public offer of the New Notes will have to be drafted in accordance with the provisions of the

Prospectus Law. This prospectus will also have to be approved by the CSSF.

* An exchange offer memorandum shall be drafted to inform the OPG Bondholders on the possibility to accept the

public exchange offer and the terms of the public exchange offer.

I-5. Warrants under scenario 1
1. Issuer: OPG
2. Description: Warrant giving the right to subscribe for new OPG Shares (the "Warrants"). Each Warrant is allocated

for free.

3. Number of Warrants: 1 Warrant per existing OPG share as of the date hereof, i.e. 17,053,866 Warrants
4. Subscription ratio: Each Warrant gives the right to subscribe for 1 new OPG Share
5. Subscription price: EUR 4.10 per OPG Share
6. Maturity: The Warrants may be exercised at any time between the date of issuance and a date which is 3 months

after the date of issuance.

7. Listing: Yes.
II. OTHER TERMS
For the avoidance of doubt, all the provisions set forth below in this section "Other Terms" shall be applicable under

scenario 1, scenario 3 and scenario 2, save for certain provisions (where indicated) which shall only be applicable to
scenario 2.

1. Governance: Each member of the board shall have one voting right.
Decisions of the board shall be taken at simple majority.
Majority of the board will be held by non-executive members.
2. Shareholders' meeting: OPG undertakes (i) to convene a shareholders' meeting upon request from one or several

shareholders holding at least, individually or collectively, 10% of the share capital of OPG and (ii) to add to the agenda of
any shareholders' meeting any additional point upon request from one or several shareholders holding at least, individually
or collectively, 5% of the share capital of OPG.

3. Reserved Matters: Decisions to be submitted to the board of directors shall include, among others:
* Capital expenditures in excess of EUR5m;
* Incurrence of Financial Indebtedness:
- limitation on the incurrence of new indebtedness by OPG subsidiaries such that LTV is not in excess of 55% (excluding

any refinancing of any existing indebtedness);

- limitation on the incurrence of new indebtedness by OPG S.A. in excess of EUR5m (excluding any refinancing of any

existing indebtedness);

* Any merger/acquisition/disposal/joint venture operations in excess of EUR10m;
* Any distribution of dividends;
* The issuance of new shares or equity-linked instruments;
* Appointment and removal of Chairman of the board of directors and Company's Chief Executive Officer;
* Any transactions involving OPG or any of its subsidiaries not completed on an arms-length basis.
4. Standstill: The Company shall not implement any issuance of new shares or equity-linked instruments in excess of

EUR 10 million or with an issue price below EUR 5.5 per share within the period from and including 17 April 2012 to
and including the date which falls 90 calendar days following the earlier of (i) the first OPG shareholders meeting to be
held following the issuance of the OPG shares within the framework of the OPG Equity Consideration and (ii) 15 July
2012 (the "Standstill").

For the avoidance of doubt, the Standstill shall not apply to (i) the OG Equity Consideration and to the OPG Equity

Consideration nor (ii) to any share capital issue to be carried out for the purposes of the proposal to other creditors of
the Company as referred to below in this Annex A.

5. Conditionality of the Proposed Transaction: Implementation of the Transaction reflecting the terms specified herein

is subject to the following further conditions:

(i) As regards both the OPG Transaction and the OG Transaction:
(a) Approval of the Transaction by the board of directors of the Company, and in particular the issuance of the New

Notes upon the closing of the public exchange offer, and approval by the board of directors of OG of the OG Transaction
and its implementation steps;

(b) Approval of the OG Transaction at the relevant majority by the general meeting of the OG Bondholders;
(c) Approval of the OG Transaction at the relevant majority by the general meeting of the OG Warrantholders;

54938

U X E M B O U R G

(d) A réviseur d'entreprises agréé appointed by the Company has issued a report giving a description of the proposed

contributions as well as of the methods of valuation used and stating that the values resulting from the application of these
methods correspond at least to the number and accounting par value and the share premium of the new OPG shares to
be issued in consideration for the contribution of all of the OG Bonds within the OG Transaction.

(ii) As regards the OPG Transaction only:
(a) Approval of the OPG Transaction at the relevant majority by the general meetings of the OPG Bondholders holding

the OPG Bonds 2010, OPG Bonds 2013 and OPG Bonds 2014;

(b) Approval of the OPG Transaction by an OPG EGM deciding in particular the share capital increase of OPG in

relation to the OPG Equity Consideration;

submitted by the Company;

(d) Approval at the relevant majority by the general meetings of the OPG Bondholders holding the OPG Bonds 2010,

OPG Bonds 2013 and OPG Bonds 2014 of a resolution instructing the bondholders' representatives of the OPG Bonds
2010, OPG Bonds 2013 and OPG Bonds 2014 (a) to finally and definitively waive and withdraw the current lawsuits
initiated by the bondholder's representatives of the OPG Bonds 2010, OPG Bonds 2013 and OPG Bonds 2014 (including
the tierce opposition as well as the appeals against the supervisory judge's orders regarding the requêtes en interpreta-
tion), it being specified, for the avoidance of doubt, that the bondholders' representatives of the OPG Bonds 2010, OPG
Bonds 2013 and OPG Bonds 2014 shall be instructed to file "conclusions de désistement d'instance et d'action" in the
course of such proceedings according to the French Civil Procedure Code, only if and immediately after conditions set
out in paragraphs 5(ii)(a), 5(ii)(b), 5(ii)(c), 5(ii)(e), 5(ii)(f) and 5(ii)(g) shall have been fulfilled and (b) not to further challenge
the judgment dated 19 May 2010 adopting the Plan de Sauvegarde;

(e) Withdrawal by the Company from any pending action, litigation or recourse against Mr. Luc Leroi in his capacity

as bondholders' representative of any of the OPG Bonds and undertaking by the Company not to further claim from Mr.
Luc Leroi in his capacity as bondholders' representative of any of the OPG Bonds any compensation, indemnification or
damages; it being agreed that such withdrawal and undertaking are subject to the conditions set out in paragraphs 5(ii)
(a), 5(ii)(b), 5(ii)(c), 5(ii)(d), 5(ii)(f) and 5(ii)(g) being fulfilled;

(f) A réviseur d'entreprise agréé appointed by the Company has issued a report giving a description of the proposed

contributions of the OPG Bonds as well as of the methods of valuation used and stating that the values resulting from
the application of these methods correspond at least to the number and accounting par value and the share premium of
the new Shares to be issued within the OPG Equity Consideration.

(g) Approval by the CSSF of the prospectuses relating to the Shares and the New Notes and, in scenario 1, the

Warrants. This condition is stipulated to the benefit of the OPG Bondholders and may be waived by a decision of the
relevant general meetings of the OPG Bondholders.

(iii) As regards the OG Transaction only:
(a) OPG to petition the Commercial Court of Paris to amend the terms of the Plan de Sauvegarde following a filing

to be submitted by OPG in order to enable the transactions contemplated by the Convertible Bonds and the Pledge
Agreement in respect of the OG shares to be delivered thereunder, as the case may be.

(b) OPG shall have, prior to the issue of the OCA, executed and delivered to the OG Bondholders or Augustin Capital

Management Ltd, acting in the name and on behalf of the OG Bondholders, as the case may be, the pledge over OG
shares described in paragraph I-2.(9) of this Annex.

6. Existing OPG Warrants: OPG shall hold and maintain that number of OPG Bonds of each of the OPG Bonds 2010

and OPG Bonds 2014 Tranches which are necessary to exercise the OPG warrants of the relevant Tranche (where the
exercise of the OPG warrants can be done by inter alia payment of the exercise price through the remittance of OPG
Bonds) for the duration of the exercise period of the OPG warrants, it being agreed that (i) such provision shall not affect
the economic terms of the OPG Transaction, (ii) OPG shall be under no obligation to sell any such OPG Bonds 2010
and OPG Bonds 2014, (iii) OPG shall not sell any such OPG Bonds 2010 and OPG Bonds 2014 for any purpose other
than the exercise of the OPG warrants, (iv) any sale of such OPG Bonds 2010 and OPG Bonds 2014 shall only be made
at full nominal value of such OPG Bonds 2010 and OPG Bonds 2014 and for payment in cash only, and (v) OPG shall not
sell any such OPG Bonds 2010 and OPG Bonds 2014 to any party to the master agreement signed on 17 April 2012
related to the Transaction.

7. Proposal to other creditors of OPG: The other creditors of OPG under the Plan de Sauvegarde (suppliers, banks

having exercised their guarantees vis-à-vis OPG, other non-contingent creditors) shall be offered a transaction identical
to the OPG Transaction. In order to be able to accommodate for this offer, OPG shall propose to its EGM of shareholders
respective adjustments to the authorised capital. On 17 April 2012, such other creditors under the Plan de Sauvegarde
represent an amount around 18.6 million euros.

Note: OPG Bondholders to nominate a candidate or OPG can nominate one if necessary

The Negative Pledge provision shall be similar to the provision 4.1.5.2 of the OPG Bonds 2014 prospectus.

Référence de publication: 2012049585/1273/651.

54939

U X E M B O U R G

Luxembourgeoise de Construction Immobilière S.A., Société Anonyme.

Siège social: L-1471 Luxembourg, 412F, route d'Esch.

R.C.S. Luxembourg B 29.744.

Les actionnaires sont convoqués par le présent avis à

l'ASSEMBLEE GENERALE STATUTAIRE

qui aura lieu le 15 mai 2012 à 9:00 heures au siège social, avec l'ordre du jour suivant:

Ordre du jour:

1. Rapport de gestion du Conseil d'Administration et rapport du Commissaire aux Comptes
2. Approbation des comptes annuels et affectation des résultats au 31 décembre 2011
3. Décharge aux Administrateurs et au Commissaire aux Comptes
4. Délibération et décision sur la dissolution éventuelle de la société conformément à l'article 100 de la loi modifiée

du 10 août 1915 sur les sociétés commerciales

5. Divers

Le Conseil d'Administration.

Référence de publication: 2012050099/795/17.

Bourne Park Capital (Lux) S.A. SICAV - SIF, Société Anonyme sous la forme d'une SICAV - Fonds d'In-

vestissement Spécialisé.

Siège social: L-2449 Luxembourg, 14, boulevard Royal.

R.C.S. Luxembourg B 132.403.

The Board of Directors is pleased to convene the shareholders of BOURNE PARK CAPITAL (LUX) S.A., SICAV-SIF

to attend the

ANNUAL GENERAL MEETING

to be held at the registered office of the SICAV-SIF on 15 May 2012 at 11.00 a.m. with the following agenda:

Agenda:

1. Report of the Board of Directors and of the Authorised Auditor
2. Approval of the Financial Statements as at 31 December 2010
3. Approval of the Financial Statements as at 31 December 2011
4. Allocation of Results
5. Discharge to the Directors
6. Renewal of the mandate of the Authorised Auditor
7. Statutory Elections
8. Remuneration of the Directors
9. Miscellaneous

The shareholders are advised that no quorum for the statutory general meeting is required and that decisions will be

taken by simple majority of the votes cast. Proxies are available at the registered office of the SICAV-SIF. Shareholders,
who wish to attend the annual general meeting, are requested to inform the Board of Directors (Fax nr: +352 49 924
2501 - ifs.fds@bdl.lu) at least five calendar days prior to the annual general meeting.

Référence de publication: 2012050100/755/25.

Leo Capital (Lux) FCP-FIS, Fonds Commun de Placement - Fonds d'Investissement Spécialisé.

Le règlement de gestion coordonné d'avril 2012 a été déposé au registre de commerce et des sociétés de Luxembourg.

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

Luxembourg, le 23 avril 2012.

Allegro S.à r.l.

Référence de publication: 2012048053/9.

(120065149) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2012.

54940

U X E M B O U R G

Luma SIF, Société Anonyme sous la forme d'une SICAV - Fonds d'Investissement Spécialisé,

(anc. Single Select Hedge Platform).

Siège social: L-2346 Luxembourg, 20, rue de la Poste.

R.C.S. Luxembourg B 160.247.

In the year two thousand and twelve, on the sixteenth day of the month of April.
Before us Maître Henri Hellinckx, notary residing in Luxembourg.

Was held an Extraordinary General Meeting of shareholders (the “Meeting”) of “SINGLE SELECT HEDGE

PLATFORM” (hereafter referred to as the “Company”), a société d'investissement à capital variable - fonds d’investis-
sement spécialisé having its registered office at Carré Bonn, 20, rue de la Poste, L-2346 Luxembourg, incorporated
pursuant to a deed of the undersigned notary on 5 April 2011. The articles of incorporation of the Company were
published in the Mémorial C, Recueil des Sociétés et Associations (the “Mémorial”), number 810, on 26 April 2011.

The Meeting was presided by Me Laurent Cromlin, Avocat, professionally residing in Luxembourg.
The chairman appointed as secretary Mr Nicolas Alves, private employee, professionally residing in Luxembourg.
The Meeting elected as scrutineer Mrs Isabelle Alexander, private employee, professionally residing in Luxembourg.
The bureau of the Meeting having thus been constituted, the chairman declared and requested the undersigned notary

to state:

I. That the agenda of the Meeting is the following:

Agenda

First resolution

Appointment of Mr William Woolverton as director of the Company.

Second resolution

Replacement of PricewaterhouseCoopers S.à r.l. by KPMG Luxembourg S.à r.l. as approved statutory auditor of the

Company for the financial year starting 1 January 2012.

Third resolution

- Change of name of the Company to “LUMA SIF” and subsequent amendment of article 1 of the articles of incorpo-

ration of the Company (the “Articles”);

- Amendment of article 13 of the Articles so that the annual general meeting of the Company be held on the tenth

(10

) calendar day of the month of May at 11:30 a.m. (Luxembourg time);

- Removal of the reference to OFI Lux in paragraph 3 of article 18 of the Articles;
- Removal of any reference to the appointment of a management company in article 20 of the Articles and subsequent

removal of paragraphs 2 and 3 of article 27 of the Articles.

II. That the shareholders present or represented and the number of their shares are shown on an attendance list; this

attendance list, signed by the chairman, the secretary, the scrutineer and the undersigned notary, as well as the proxies,
will remain annexed to the present deed to be filed at the same time with the registration authorities.

III. That the convening notice has been sent by registered mail on 5 April 2012 to all registered shareholders to their

address indicated in the register of shareholders of the Company.

IV. That it appears from the attendance list that out of the 1387796,485316 shares in issue, 1375045,148039 shares

are present or represented at the present meeting.

The present Meeting is therefore regularly constituted and may validly deliberate on the agenda.
After deliberation, the Meeting resolved as follows:

First resolution

The Meeting unanimously resolved to appoint Mr William Woolverton, residing at 28, State Street, Boston MA 02241,

USA as director of the Company for a term ending at the annual general meeting to be held in 2013.

Second resolution

The Meeting unanimously resolved to replace PricewaterhouseCoopers S.à r.l. by KPMG Luxembourg S.à r.l., 9, allée

Scheffer, L-2520 Luxembourg, as approved statutory auditor of the Company for the financial year starting 1 January
2012. The mandate shall expire at the annual general meeting to be held in 2013.

Third resolution

The Meeting unanimously resolved to:
- change the name of the Company from its current denomination to “LUMA SIF” and to subsequently amend article

1 of the Articles so as to henceforth read as follows:

54941

U X E M B O U R G

“ Art. 1. Name:
There exists among the subscriber and all those who may become holders of shares a company in the form of a “société

anonyme” qualifying as a “société d'investissement à capital variable - fonds d'investissement spécialisé” under the name
of “LUMA SIF” (the “Company”).”

- amend article 13 of the Articles so that the annual general meeting of the Company be held on the tenth (10

)

calendar day of the month of May at 11:30 a.m. (Luxembourg time); the second paragraph of Article 13 will henceforth
read as follows:

“The annual general meeting of shareholders shall be held, in accordance with Luxembourg law, in Luxembourg, at

the registered office of the Company, or at such other place in Luxembourg as may be specified in the notice of meeting,
on the tenth (10

) calendar day of the month of May at 11:30 a.m. (Luxembourg Time). If such day is not a bank business

day in Luxembourg, the annual general meeting shall be held on the next following bank business day. The annual general
meeting may be held abroad if, in the absolute and final judgment of the Board, exceptional circumstances so require.”

- remove the reference to OFI Lux contained in paragraph 3 of article 18 of the Articles; the third paragraph of Article

18 will henceforth read as follows:

“The term “personal interest”, as used in the preceding sentence, shall not include any relationship with or interest

in any matter, position or transaction involving Gottex Asset Management (U.K.) Limited, any subsidiary or affiliate
thereof, or such other company or entity as may from time to time be determined by the Board at its discretion.”

- remove any reference to the appointment of a management company in article 20 of the Articles and subsequently

remove paragraphs 2 and 3 of article 27 of the Articles, Article 20 and Article 27 shall henceforth read as follows:

“ Art. 20. Investment Policies and Restrictions:
The Board shall, based upon the principle of spreading of risks, have power to determine the corporate and investment

policy and the course of conduct of management and business affairs of each Sub-Fund and of the Company.

The Board shall also determine any restrictions which shall from time to time be applicable to the investments of each

Sub-Fund and the Company.”

“ Art. 27. Amendments:
These Articles may be amended from time to time by a general meeting of shareholders, subject to the quorum and

majority requirements provided by the laws of Luxembourg.”

There being no further business on the agenda, the Meeting was thereupon closed.
The undersigned Notary, who understands and speaks English, states that, at the request of the parties hereto, these

minutes are drafted in English only.

Whereof the present deed was drawn up in Luxembourg on the day aforementioned.
And after reading of these minutes, the members of the bureau signed together with the notary the present deed.
Signé: L. CROMLIN, N. ALVES, I. ALEXANDER et H. HELLINCKX.
Enregistré à Luxembourg A.C., le 23 avril 2012. Relation: LAC/2012/18572. Reçu soixante-quinze euros (75,- EUR).

Le Receveur (signé): I. THILL.

POUR EXPEDITION CONFORME, délivrée à la société sur demande.

Luxembourg, le 25 avril 2012.

Référence de publication: 2012048940/92.
(120066925) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.

Sanpaolo International Formulas Fund, Fonds Commun de Placement.

Siège social: L-1637 Luxembourg, 9-11, rue Goethe.

R.C.S. Luxembourg B 28.536.

Il résulte du procès-verbal du Conseil d'Administration de la société de gestion Eurizon Capital S.A. du 23 décembre

2011 que le fonds commun de placement de droit luxembourgeois à compartiments multiples SANPAOLO INTERNA-
TIONAL FORMULAS FUND a été mis en liquidation avec date d'effet 28 décembre 2011, suite à l'arrivée à échéance de
l'unique compartiment de la structure.

La clôture de la susdite liquidation est intervenue le 23 avril 2012.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

EURIZON CAPITAL S.A.
Jérôme DEBERTOLIS

Référence de publication: 2012050111/7255/14.

54942

U X E M B O U R G

BZ Equity Fund, Société Anonyme sous la forme d'une SICAV - Fonds d'Investissement Spécialisé.

Siège social: L-1445 Strassen, 4, rue Thomas Edison.

R.C.S. Luxembourg B 157.402.

RECTIFICATIF

du dépôt numéro L120005430, déposé le 10/01/2012

Im Jahre zweitausendundzwölf, am achtzehnten April.
Vor Notar Henri HELLINCKX, mit Amtssitz zu Luxemburg.

Sind erschienen:

1) Frau Gisela WENZ, Bankangestellte, beruflich wohnhaft in Luxembourg-Strassen, eröffnet.
2) Frau Tanja WIPPLINGER, Bankangestellte, beruflich wohnhaft in Luxembourg-Strassen.
3) Oliver KREMER, Bankangestellter, beruflich wohnhaft in Luxembourg-Strassen.

Diese Erschienenen, welche als Vorsitzende, Schriftführerin und Stimmzähler und als Aktionärsvertreter bei den aus-

serordentlichen Generalversammlungen der Investmentgesellschaft mit variablem Kapital („société d’investissement à
capital variable“) „BZ Equity Fund“, mit Sitz in L1445 Luxemburg-Strassen, 4, rue Thomas Edison, eingetragen im Handels-
und Gesellschaftsregister unter der Nummer B 157.402, vom 17. November 2011 und vom 22. Dezember 2011, gehandelt
haben, ersuchen den Notar zu beurkunden dass die Bezeichnung der Gesellschaft irrtümlicherweise mit BZ EQUITY
SICAV aufgeführt wurde und dass die Urkunden dahingehend zu berichtigen sind dass die Bezeichnung der Gesellschaft
BZ Equity Fund lautet.

Worüber Urkunde aufgenommen zu Luxemburg/Strassen, am Datum wie eingangs erwähnt.
Nach Vorlesung und Erklärung alles Vorstehenden an die Erschienenen, dem beurkundenden Notar nach Namen,

gebräuchlichen Vornamen, sowie Stand und Wohnort bekannt, haben dieselben mit dem Notar gegenwärtige Urkunde
unterschrieben.

Gezeichnet: G. WENZ, T. WIPPLINGER, O. KREMER und H. HELLINCKX.
Enregistré à Luxembourg A.C., le 20 avril 2012. Relation: LAC/2012/18328. Reçu douze euros (12,- EUR).

Le Receveur (signé): I. THILL.

FÜR GLEICHLAUTENDE AUSFERTIGUNG, der Gesellschaft auf Begehr erteilt.

Luxemburg, den 25. April 2012.

Référence de publication: 2012049166/31.
(120067198) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 avril 2012.

Navitas Solar Group S.A., Société Anonyme.

Siège social: L-1417 Luxembourg, 4, rue Dicks.

R.C.S. Luxembourg B 154.730.

Wir teilen mit, dass Herr Jean-Claude Michels, sowie Herr Serge Dollendorf mit Wirkung zum 30. April 2012 aus dem

Verwaltungsrat der Gesellschaft zurückgetreten sind.

Auszug aus der ordentlichen Generalversammlung der Aktionäre vom 30. April 2012

Aus den Beschlüssen der ordentlichen Generalversammlung der Navitas Solar Group S.A. vom 30. April 2012 ergibt

sich, dass folgende Entscheidung getroffen wurde:

Die ordentliche Generalversammlung hat beschlossen mit sofortiger Wirkung die folgenden Personen zu neuen Mit-

gliedern des Verwaltungsrates der Gesellschaft zu bestellen und zwar bis zur Generalversammlung die über das
Geschäftsjahr 2017 (zweitausendsiebzehn) befindet:

1. Herrn Lars Wolff Graversen, geboren am 24. April 1972 in Silkeborg, ansässig in Strandvejen 25, DK-8600 Silkeborg,

sowie

2. Herrn Matthias Schätzle, geboren am 20. Oktober 1970 in Hamburg, berufsansässig 5, Heienhaff, L-1736 Sennin-

gerberg.

Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.

Luxemburg, den 30. April 2012.

Navitas Solar Group S.A.

Référence de publication: 2012051578/22.
(120071099) Déposé au registre de commerce et des sociétés de Luxembourg, le 3 mai 2012.

54943

U X E M B O U R G

BJ General Holdings, Société à responsabilité limitée.

Capital social: USD 50.000,00.

Siège social: L-1466 Luxembourg, 12, rue Jean Engling.

R.C.S. Luxembourg B 106.905.

CLÔTURE DE LIQUIDATION

En date du 30 mars 2012, l'associé unique de la Société a décidé de clôturer la liquidation avec effet immédiat.
Il a en outre été décidé que les livres et documents sociaux de la Société seront conservés au App. 10B, 12, rue Jean

Engling, L-1466 Luxembourg pendant une période de cinq années à partir de la publication du présent extrait dans le
Mémorial C.

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

BJ General Holdings S.à r.I.
Signature
Un Mandataire

Référence de publication: 2012050792/17.
(120070899) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 mai 2012.

AllianceBernstein Institutional Investments, Fonds Commun de Placement.

NOTICE OF LIQUIDATION OF

AllianceBernstein Institutional Investments-UK Value Portfolio

(the “Portfolio”)

AllianceBernstein (Luxembourg) S.à r.l. (the “Management Company”), acting as Management Company of the Port-

folio, has put the Portfolio AllianceBernstein Institutional Investments-UK Value Portfolio into liquidation with effect on
April 30, 2012 (the “Liquidation Date”) due to a redemption request representing more than 95% of the total net asset
value of such Portfolio.

The Management Company anticipates that the initial disbursement of liquidation proceeds will occur on or about

mid-May 2012 with the balance, if any, being paid to investors as soon as practicable thereafter.

The undersigned Management Company has proceeded to the liquidation of the Portfolio in accordance with Luxem-

bourg laws and regulations.

The Board of Managers of
AllianceBernstein (Luxembourg) S.à r.l.

Référence de publication: 2012052386/755/17.

Silverside Shipping S.A., Société Anonyme.

Siège social: L-5401 Ahn, 7, route du Vin.

R.C.S. Luxembourg B 99.545.

Signature.

Référence de publication: 2012041689/10.
(120054701) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 avril 2012.

Sofie S.à r.l., Société à responsabilité limitée.

Siège social: L-1728 Luxembourg, 14, rue du Marché-aux-Herbes.

R.C.S. Luxembourg B 125.290.

Le bilan au 31 décembre 2011 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Signature.

Référence de publication: 2012041655/10.
(120055378) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 avril 2012.

54944

U X E M B O U R G

StoneCreek Capital International Ltd., Société à responsabilité limitée.

Capital social: USD 11.020.000,00.

Siège social: L-2540 Luxembourg, 15, rue Edward Steichen.

R.C.S. Luxembourg B 162.605.

In the year two thousand and twelve, on the sixteenth of March.
Before US Maître Henri Hellinckx, notary residing in Luxembourg, Grand Duchy of Luxembourg.

There appeared:

SANJEL HOLDINGS CORPORATION, a corporation incorporated and existing under Alberta laws (Canada), with

registered office at Suite 200, 505 - 2

Street SW, Calgary, Alberta, T2P 1N8 Canada, registered with the Alberta

Corporate Register, under corporate access number 2012390395 (the “Sole Shareholder”),

here represented by Régis Galiotto, notary's clerk, with professional address at 101, rue Cents, L-1319 Luxembourg,

Grand Duchy of Luxembourg, by virtue of a proxy given by the Sole Shareholder on March 15, 2012.

Said proxy signed “ne varietur” by the proxyholder of the appearing person and the undersigned notary will remain

annexed to the present deed for the purpose of registration.

Such appearing person, represented by its proxyholder, has requested the notary to state as follows:
I. That SANJEL HOLDINGS CORPORATION, aforementioned, is the sole shareholder of a private limited liability

company (société à responsabilité limitée) existing in Luxembourg under the name of STONECREEK CAPITAL INTER-
NATIONAL LTD., having its registered office at 15, rue Edward Steichen, L-2540 Luxembourg, Grand Duchy of
Luxembourg, registered with the Luxembourg Trade and Company Register under number B 162.605 and incorporated
by a deed of the undersigned notary, on June 28, 2011, published in the Luxembourg official gazette (Mémorial C, Recueil
des Sociétés et Associations) dated October 8, 2011, number 2416 and amended for the last time by a deed of the
undersigned notary, on September 26, 2011, published in the Luxembourg official gazette (Mémorial C, Recueil des
Sociétés et Associations) dated January 17, 2012, number 133 (the “Company”).

II. That the Company's share capital amounts to twenty thousand US Dollars (USD 20,000) represented by twenty

thousand (20,000) shares with a par value of one US Dollar (USD 1) each, and an aggregate par value of twenty thousand
US Dollars (USD 20,000).

III. That the Sole Shareholder is the legal and beneficial owner of an uncontested, current and immediately exercisable

claim towards the Company amounting to fifty five million US Dollars (USD 55,000,000).

IV. That the Agenda of the meeting is the following:
1. Consider the restatement of the Company's share capital by the creation of two different classes of shares, namely

the ordinary shares and the mandatory redeemable preferred shares;

2. Consider the conversion of the current twenty thousand (20,000) shares of the Company with a par value of one

US Dollar (USD 1) each into twenty thousand (20,000) ordinary shares with a par value of one US Dollar (USD 1) each;

3. Consider to increase the Company's share capital by an amount of eleven million US Dollars (USD 11,000,000) in

order to raise it from its present amount of twenty thousand US Dollars (USD 20,000) to eleven million twenty thousand
US Dollars (USD 11,020,000) by the issuance of:

- One hundred ten thousand (110,000) new ordinary shares with a par value of one US Dollar (USD 1) each and an

aggregate par value of one hundred ten thousand US Dollars (USD 110,000) together with an ordinary share premium
of four hundred forty thousand US Dollars (USD 440,000) (the “New Ordinary Shares”) and,

- Ten million eight hundred ninety thousand (10,890,000) mandatory redeemable preferred shares with a par value of

one US Dollar (USD 1) each and an aggregate par value of ten million eight hundred ninety thousand US Dollars (USD
10,890,000) together with a mandatory redeemable preferred shares premium of forty three million five hundred sixty
thousand US Dollars (USD 43,560,000) (the “MRPS”);

4. Consider the subscription by the Sole Shareholder to all the New Ordinary Shares and all the MRPS;
5. Consider the full payment of the New Ordinary Shares and of the MRPS, by conversion of an uncontested, current

and immediately exercisable claim towards the Company amounting to fifty five million US Dollars (USD 55,000,000) (the
“Claim”);

6. Consider the valuation method used for determining the value of the Claim;
7. Consider the subsequent amendment of Articles 6, 8, 12 and 13 of the Company's articles of association to give it

the following content:

“ Art. 6. Share Capital - Shares.
6.1 Subscribed share capital
The share capital amounts to eleven million twenty thousand US Dollars (USD 11,020,000) represented by one hun-

54945

U X E M B O U R G

“MRPS”), all fully subscribed and entirely paid up. For the sake of clarity, “shares” in the present Articles shall include
Ordinary Shares and MRPS. At the moment and as long as all the shares are held by only one shareholder, the Company
is a sole shareholder company (“société unipersonnelle”) in the meaning of article 179 (2) of the Law. In this contingency
articles 200-1 and 200-2, amongst others, will apply, this entailing that each decision of the sole shareholder and each
agreement entered into between the sole shareholder and the Company represented by him shall be established in writing.

6.2 Share premium
Ordinary Shares and MRPS (together referred to as the «classes» of shares and each referred to as a «class» of shares)

can be issued with or without a share premium, subject to legal requirements and the provisions of the present Articles.
Any amount of share premium which has been paid in addition to the par value of the Ordinary Shares (the “Ordinary
Share Premium”) shall remain attached to the Ordinary Shares and shall be designated as the “Ordinary Share Premium
Account”. Any amount of share premium which has been paid in addition to the par value of the MRPS (the “MRPS
Premium”) shall remain attached to the MRPS and shall be designated as the “MRPS Premium Account”.

As long as the Company has a sole shareholder, a portion of Ordinary Share Premium equal to 10% of the share capital

(represented by both Ordinary Shares and MRPS) should be allocated to the legal reserve.

6.3 Modification of share capital
The share capital may be changed at any time by a decision of the sole shareholder or by a decision of the general

shareholders' meeting, in accordance with article 8 of these Articles and within the limits provided for by article 199 of
the Law.

As long as the Company has a sole shareholder, if an impairment is booked in the Company's quarterly accounts on

the value of any of its subsidiaries and if the quarterly accounts show that further to such impairment the Company is in
a loss position, the shareholder shall, before the end of the financial year during which the impairment is booked, decrease
the Ordinary Share Premium Account in order to absorb such loss.

6.4 Redemption of shares
The sole shareholder, or, in case of plurality of shareholders, the general meeting of the shareholders of the Company

may resolve to redeem part or all of the MRPS subject however to the conditions as set out below.

MRPS are redeemable (partially or in full) at any time until maturity at the option of the Company (an “Early Redemption

Date”). The Company shall redeem the MRPS at the latest on March 16, 2022 (the “Maturity Date”). The MRPS shall be
redeemed for an amount corresponding to the aggregate par value of the redeemed MRPS, MRPS Premium attached to
the redeemed MRPS, as well as any preferred dividend as defined in Article 12 accrued but not yet declared on the
redeemed MRPS at the time of redemption (the “Redemption Price”). Nonetheless, the MRPS shall only be redeemed at
the Maturity Date if the Company has sufficient available funds to do so (“Available Funds”). In case the Company does
not dispose of Available Funds to pay the Redemption Price in cash at the Maturity Date, it may, at its sole discretion,
pay the Redemption Price in kind (partially or in full). In case the Company has Available Funds to pay the Redemption
Price in cash, the Redemption Price can nonetheless be paid in kind (either at the Maturity Date or an Earlier Redemption
Date), if the MRPS holder(s) so agree. Irrespective of whether the Company has Available Funds or not to pay the
Redemption Price in cash, the Company may discharge the Redemption Price (either at the Maturity Date or an Earlier
Redemption Date) by transferring to the holder(s) of MRPS to be redeemed any receivable(s) owing to the Company by
any person, to be valued for these purposes at the higher of the face value and the market value of the receivable(s) to
be transferred.

MRPS redeemed by the Company shall be immediately cancelled and the amount of share capital shall be reduced

accordingly. In addition, the MRPS Premium Account shall be reduced accordingly.

6.5 Indivisibility of shares
Towards the Company, the Company's shares are indivisible, since only one owner is admitted per share. Joint-owners

have to appoint a sole person as their representative towards the Company.

6.6 Transfer of shares
In case of a sole shareholder, the Company's shares held by the sole shareholder are freely transferable.
In the case of plurality of shareholders, the shares held by each shareholder may be transferred in compliance with

the requirements of article 189 and 190 of the Law.

6.7 Registration of shares
All shares are in registered form, in the name of a specific person, and recorded in the shareholders' register in

accordance with article 185 of the Law.

Art. 8. General shareholders' meeting. The sole shareholder assumes all powers conferred to the general shareholders'

meeting.

In case of a plurality of shareholders, each shareholder may take part in collective decisions irrespectively of the number

of shares, which he owns. Each shareholder has voting rights commensurate with his shareholding. Collective decisions
are only validly taken insofar as they are adopted by shareholders owning more than half of each class of shares and
owning together more than half of the entire share capital.

54946

U X E M B O U R G

However, resolutions to alter the Articles, except in case of a change of nationality which requires a unanimous vote,

may only be adopted by the majority of the shareholders owning at least three quarters of each class of shares and owning
together at least three quarters of the Company's entire share capital, subject to the provisions of the Law.

The holding of general shareholders' meetings shall not be mandatory where the number of shareholders does not

exceed twenty-five (25). In such case, each shareholder shall receive the precise wording of the text of the resolutions
or decisions to be adopted and shall give his vote in writing.

Art. 12. Distribution of profits. For every financial year of the Company, and for the first time at the occasion of its

first financial year, the holders of MRPS are entitled to a cumulative preferred dividend of 6.105% a year, to be accrued
on a daily basis (360-days/year), computed on the par value of the MRPS and MRPS Premium Account (“Preferred Divi-
dend”).

Preferred Dividends shall be cumulated and may be declared each year to the extent the Company has sufficient

distributable profits available. If the current year's Preferred Dividends may not be declared (due to a lack of distributable
profits), they shall be cumulated and can be declared in the next financial year, or the first following year in which there
is sufficient profit to distribute.

The holders of the Ordinary Shares are entitled to the remainder of the Company's profit for any given financial year

(“Ordinary Dividend”), but no dividends will be paid to the holders of the Ordinary Shares until all rights to Preferred
Dividends of the holders of MRPS of the current year and the prior years have been paid.

The above Preferred Dividends do not have any impact on the obligation for each shareholder to participate to the

losses under the sequence described in article 13 of the present Articles.

The board of managers may resolve to pay one or more interim dividends with respect to the MRPS (“Preferred

Interim Dividend”) and Ordinary Shares (“Ordinary Interim Dividend”), including during the first financial year, subject
to the drafting of an interim balance sheet showing that sufficient funds are available for distribution. The declaration of
Preferred Interim Dividends shall be limited to the Preferred Dividends accumulated on the MRPS as at the day this
decision is taken. The Ordinary Interim Dividend shall be limited to the distributable profits that are in excess of the
profits necessary to declare the Preferred Interim Dividend until the financial year end. Any manager may require, at its
sole discretion, to have this interim balance sheet reviewed by an independent auditor at the Company's expense.

The total amount to be distributed may not exceed total distributable profits since the end of the last financial year,

if existing, increased by profits carried forward and available reserves, less losses carried forward and amount to be
allocated to reserve pursuant to the requirements of the Law or of the Articles.

Art. 13. Dissolution - Liquidation. The Company shall not be dissolved by reason of the death, suspension of civil rights,

insolvency or bankruptcy of the sole shareholder or of one of the shareholders.

Except in the case of dissolution by court order, the dissolution of the Company may take place only pursuant to a

decision adopted by the general meeting of shareholders in accordance with the conditions laid down for amendments
to the Articles. At the time of dissolution of the Company, the liquidation will be carried out by one or several liquidators,
shareholders or not, appointed by the shareholders who shall determine their powers and remuneration.

Upon winding-up of the Company, subject the prior payment of the Company's creditors and to the availability of

funds, the holders of the MRPS have a preferred right to the repayment of their contributions (i.e., MRPS and MRPS
Premium Account) and Preferred Dividend accrued or declared but not yet paid at that time.

The holders of the Ordinary Shares are not entitled to the repayment of their contribution (i.e., Ordinary Shares,

Ordinary Share Premium Account, Ordinary Share Premium allocated to the legal reserve or any other reserve if any)
until all rights to repayment of the holders of MRPS have been discharged. Should there be insufficient funds to pay entirely
the preferred repayment right of MRPS, available funds will be allocated to the holders of MRPS pro rata their repayment
rights. Holders of the Ordinary Shares are entitled to the entire liquidation proceeds (liquidation profits) of the Company
after the holders of MRPS have received their preferred rights to repayment. Holders of MRPS are thus excluded from
any liquidation surplus of the Company after they have received their preferred right to repayment.

In case of liquidation losses, such losses will be supported firstly by the holders of the Ordinary Shares, and then by

the holders of the MRPS when necessary.”

8. Miscellaneous.
IV. That, on basis of the Agenda, the Sole Shareholder takes the following resolutions:

First resolution

The Sole Shareholder resolves to create two distinct classes of shares namely the ordinary shares and the mandatory

redeemable preferred shares.

Second resolution

The Sole Shareholder resolves to convert the current twenty thousand (20,000) shares of the Company with a par

value of one US Dollar (USD 1) each and an aggregate par value of twenty thousand US Dollars (USD 20,000) into twenty
thousand (20,000) ordinary shares of the Company with a par value of one US Dollar (USD 1) each, and an aggregate par
value of twenty thousand US Dollars (USD 20,000).

54947

U X E M B O U R G

Third resolution

The Sole Shareholder resolves to increase the Company's share capital to the extent of eleven million US Dollars

(USD 11,000,000) in order to raise it from its present amount of twenty thousand US Dollars (USD 20,000) to eleven
million twenty thousand US Dollars (USD 11,020,000) by the issue of:

- One hundred ten thousand (110,000) new ordinary shares with a par value of one US Dollar (USD 1) each and an

aggregate par value of one hundred ten thousand US Dollars (USD 110,000) together with an ordinary share premium
of four hundred forty thousand US Dollars (USD 440,000); and,

- Ten million eight hundred ninety thousand (10,890,000) mandatory redeemable preferred shares with a par value of

Intervention - Subscription - Payment

The Sole Shareholder through its proxyholder declares to subscribe to all the Ordinary Shares and MRPS, and to fully

pay them up by the conversion of the Claim.

Valuation

The Claim is valued at fifty five million US Dollars (USD 55,000,000), such value has been decided by the Sole Share-

holder by way of a declaration of value (the “Declaration of Value”), dated March 16, 2012 (the “Execution Date”) and
accepted by the managers of the Company by way of a valuation statement as of the Execution Date (the “Valuation
Statement”).

Evidence of the claim's existence

Evidence of the conversion of the Claim and of its value has been given to the undersigned notary by the copy of the

following documents:

- the Declaration of Value; and
- the Valuation Statement.
The Declaration of Value and Valuation Statement shall remain attached to the present deed.

Effective implementation of the conversion

The Sole Shareholder, through its proxyholder, declares that:
- it is the sole beneficial owner of the Claim and has the power to dispose of it;
- the conversion of the Claim is effective today without restriction.

Fourth resolution

Pursuant to the above increase of capital, the Sole Shareholder resolves to amend Articles 6, 8, 12 and 13 of the

Company's articles of association, which shall henceforth read as follows:

“ Art. 6. Share capital - Shares.
6.1 Subscribed share capital
The share capital amounts to eleven million twenty thousand US Dollars (USD 11,020,000) represented by one hun-

dred thirty thousand (130,000) ordinary shares of one US Dollar (USD 1) each (the “Ordinary Shares”) and ten million
eight hundred ninety thousand (10,890,000) mandatory redeemable preferred shares of one US Dollar (USD 1) each (the
“MRPS”), all fully subscribed and entirely paid up. For the sake of clarity, “shares” in the present Articles shall include
Ordinary Shares and MRPS. At the moment and as long as all the shares are held by only one shareholder, the Company
is a sole shareholder company (“société unipersonnelle”) in the meaning of article 179 (2) of the Law. In this contingency
articles 200-1 and 200-2, amongst others, will apply, this entailing that each decision of the sole shareholder and each
agreement entered into between the sole shareholder and the Company represented by him shall be established in writing.

6.2 Share premium
Ordinary Shares and MRPS (together referred to as the «classes» of shares and each referred to as a «class» of shares)

As long as the Company has a sole shareholder, a portion of Ordinary Share Premium equal to 10% of the share capital

(represented by both Ordinary Shares and MRPS) should be allocated to the legal reserve.

6.3 Modification of share capital

54948

U X E M B O U R G

The share capital may be changed at any time by a decision of the sole shareholder or by a decision of the general