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L
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° 1305
25 mai 2012
SOMMAIRE
Abelton Invest S.A. . . . . . . . . . . . . . . . . . . . . .
62635
Abita Luxembourg S.A. . . . . . . . . . . . . . . . . .
62635
ABN AMRO MeesPierson Investments
(Luxembourg) S.A. . . . . . . . . . . . . . . . . . . . .
62635
Allianz Infrastructure Luxembourg II SI-
CAF-FIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62624
Allianz Infrastructure Luxembourg I SI-
CAV-FIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62621
Allianz Private Equity Luxembourg II SI-
CAV-FIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62624
Allianz Private Equity Luxembourg I SI-
CAV-FIS . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62624
AltaFund Invest II S.à r.l. . . . . . . . . . . . . . . . .
62625
AltaFund Value-Add I . . . . . . . . . . . . . . . . . .
62625
Amaranthe Octogone S.à r.l. . . . . . . . . . . . .
62624
AM & FH S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .
62636
Amundi Interinvest . . . . . . . . . . . . . . . . . . . . .
62637
Anatevka . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62639
Anoa Capital S.A. . . . . . . . . . . . . . . . . . . . . . .
62639
Apulia S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62637
Aquarius S.a. . . . . . . . . . . . . . . . . . . . . . . . . . . .
62623
Asset Backed-B S.A. . . . . . . . . . . . . . . . . . . . .
62626
Asset Backed-D S.A. . . . . . . . . . . . . . . . . . . . .
62626
Asset Backed-H S.A. . . . . . . . . . . . . . . . . . . .
62633
Asset Backed-J S.A. . . . . . . . . . . . . . . . . . . . .
62634
Auberge THILLSMILLEN S.à r.l. . . . . . . . .
62634
Betsy S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62631
Companhia Global de Imóveis . . . . . . . . . . .
62634
Companhia Global de Varejo . . . . . . . . . . . .
62634
DS Care S.A. . . . . . . . . . . . . . . . . . . . . . . . . . .
62631
EDC Luxembourg S.à r.l. . . . . . . . . . . . . . . .
62628
Ergan S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . .
62625
Fracasse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62640
Froidchapelle S.A. . . . . . . . . . . . . . . . . . . . . . .
62629
Geram International S.A. . . . . . . . . . . . . . . .
62628
Henderson Joint Ventures Property Funds
Management S.à r.l. . . . . . . . . . . . . . . . . . . .
62635
Immo FF Project . . . . . . . . . . . . . . . . . . . . . . .
62640
Interlux Info . . . . . . . . . . . . . . . . . . . . . . . . . . .
62626
JDA S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
62621
Magalo Trading sàrl . . . . . . . . . . . . . . . . . . . .
62629
Muellux Holding Company II S.à r.l. . . . . .
62636
Muellux Holding Company I S.à r.l. . . . . . .
62625
Next Am Fund . . . . . . . . . . . . . . . . . . . . . . . . .
62594
Next Am Fund . . . . . . . . . . . . . . . . . . . . . . . . .
62607
Nordea Life & Pensions S.A. . . . . . . . . . . . .
62621
ROLLINGER Chauffage/Sanitaire . . . . . . . .
62636
Rosemill Estate S.A. . . . . . . . . . . . . . . . . . . . .
62623
Transports Dahirel S.à.r.l. . . . . . . . . . . . . . . .
62637
Tri Investments European Residential Pro-
perty Fund S.àr.l. . . . . . . . . . . . . . . . . . . . . . .
62640
62593
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U X E M B O U R G
Next Am Fund, Société d'Investissement à Capital Variable.
Siège social: L-5826 Hesperange, 33, rue de Gasperich.
R.C.S. Luxembourg B 168.626.
STATUTES
In the year two thousand and twelve, on the third of May.
Before, Maître Joelle BADEN, notary residing in Luxembourg,
There appeared:
LA FRANCAISE DES PLACEMENTS, a société par actions simplifiée incorporated under French law, having its regis-
tered office in F-75008 Paris, 173, boulevard Haussmann, registered in the Companies and Trade Register of Paris under
number 314 024 019 here represented by Mrs Marie-Laure Martinet, private employee, with professional address in
Luxembourg, by virtue of a proxy given on 27 April 2012.
The proxy given, signed ne varietur by the appearing person and the undersigned notary, shall remain annexed to this
document to be filed with the registration authorities.
Such appearing party, in the capacity in which it acts, has requested the notary to state as follows the articles of
incorporation (the "Articles") of a société anonyme (S.A.) with variable share capital that shall be constituted as follows:
Art. 1. Form and Corporate name. Between the subscribers and those individuals who shall subsequently become
shareholders, there exists a public limited company (société anonyme) operating in the form of an Investment Company
with Variable Capital (SICAV) under the name NEXT AM Fund (hereinafter the "Company"). The Company is established
pursuant to the Luxembourg law of 17 December 2010 relating to Undertakings for collective investment (the "2010
Law").
Art. 2. Duration. The Company has been established for an indefinite term. It may be dissolved by decision of the
General Meeting of the shareholders ruling as for an amendment to the Articles of Incorporation pursuant to Article 29
below.
Art. 3. Object. The exclusive object of the Company is to invest the funds that it has available in transferable securities,
in money market instruments and in all eligible assets, with the aim of spreading the investment risks and of enabling the
shareholders to profit from the results of the management of its portfolio.
In a general manner, the Company may take all measures and carry out all transactions that it deems useful in order
to achieve its object, while remaining within the limits specified by the 2010 Law.
Art. 4. Registered office. The Registered Office is established in Hesperange, in the Grand Duchy of Luxembourg. The
Registered Office may be transferred to any other commune in the Grand Duchy of Luxembourg by decision of the Board
of Directors of the Company.
The Company may, upon a decision by the Board of Directors, create subsidiaries, branches, agencies and offices either
in the Grand Duchy of Luxembourg or abroad.
In the event that the Board of Directors considers that extraordinary political events of a type that could compromise
the normal activity at the registered office, easy communication with that registered office, or communication by that
registered office abroad have occurred or are imminent, it may temporarily transfer the registered office abroad until the
complete cessation of those extraordinary circumstances; this provisional measure shall have no effect on the nationality
of the Company which, notwithstanding such temporary transfer of its registered office, shall remain Luxembourgish.
Art. 5. Share capital, Sub-funds of assets, Categories and Classes of shares. The initial share capital stands at EUR
31,000 divided into thirty-one (31) capitalisation shares (of no par value). The shares have been fully paid up via a cash
contribution. The capital of the Company shall be represented by fully paid-up shares of no par value and shall at any time
be equal to the total net assets contained in all of the Company's sub-fund combined, as defined in Article 11 hereof.
The Company's minimum capital shall be equal at all times to the minimum established by current regulations,, i.e. one
million two hundred fifty thousand Euro (EUR 1,250,000), which minimum must be reached within a period of six (6)
months following the authorisation of the Company.
Provided one or more sub-funds hold securities issued by one or more other sub-funds of the same Company, they
will not be taken into consideration for the calculation of the net assets of the Company for the purposes of verifying the
minimum capital.
In accordance with Article 7 herein, the Board of Directors is authorized without limitation to issue fully paid shares
at any time or at the respective Net Asset Values per share determined in accordance with Article 11 herein without
reserving to the existing shareholders a preferential right to subscription of the shares to be issued. The Board of Directors
may delegate to any duly authorized Director or officer of the Company or to any other duly authorized person, the
duty of accepting subscriptions and/or delivering and receiving payment for such new shares, remaining always within the
limits imposed by the law.
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U X E M B O U R G
Such shares may, at the Board of Directors' discretion, belong to different categories corresponding to separate sub-
funds of the Company's assets. The income from any issue of shares in a given category shall be invested pursuant to
Article 3 herein in various transferable securities and other assets in the sub-fund corresponding to this share category,
depending on the investment policy established by the Board of Directors for the sub-fund in question, subject to the
investment restrictions set forth by current laws and regulations as well as those restrictions adopted by the Board of
Directors itself.
Within each Sub-Fund (having a specific investment policy), further classes of shares having specific sale, redemption
or distribution charges and specific income distribution policies or any other features may be created as the Board of
Directors may from time to time determine and as disclosed in the sales documents of the Company.
The Board of Directors may decide to create capitalisation and distribution share classes, as well as share classes
whose characteristics are described in the Company's sales documents.
A distribution share is a share which, in principle, gives the shareholder the right to receive a cash dividend.
A capitalisation share is a share which, in principle, does not give the shareholder the right to receive a dividend.
The different asset classes offer the same rights to all of their respective shareholders, particularly in terms of voting
rights at General Shareholders' Meetings. Under the terms of Article 6, voting rights may only be exercised for a whole
number of shares.
The different Sub-Funds and/or classes of shares may be denominated in different currencies to be determined by the
Board of Directors provided that for the purpose of determining the capital of the Company, the net assets attributable
to each Sub-Fund and/or class shall, if not denominated in EUR, be converted into EUR and the capital shall be the aggregate
of the net assets of all the classes. The Company shall prepare consolidated accounts in EUR.
The general meeting of holders of shares of a Sub-Fund and/or a class, deciding in accordance with the quorum and
majority requirements referred to in Article 29 herein, may reduce the capital of the Company by cancellation of the
shares of such Sub-Fund and/or class and refund to the holders of shares of such Sub-Fund and/or class the full Net Asset
Value of the shares of such Sub-Fund and/or class as at the date of distribution.
The Board of Directors may decide the reorganization of one class of shares, by means of a division into two or more
classes in the Company or in another Luxembourg undertaking for collective investment registered under Part I of the
2010 Law. Such decision will be published in the same manner as described in Article 27. B. and the publication will contain
information in relation to the two or more new classes.
Art. 6. Form of shares. The Board of Directors shall decide, for each Sub-Fund, to issue bearer shares or registered
shares, dematerialised.
All registered shares issued by the Company shall be recorded at the shareholder register that shall be maintained by
the Company or by one or more entities so designated by the Company; such recording must indicate the name of each
owner of shares, his/her address or chosen place of residence, and the number of registered shares he/she holds. The
records in the shareholder register may be attested through the issue of registered share confirmations
The Company recognizes only one single owner per share. If one or more shares are jointly owned or if the ownership
of such share(s) is disputed, all persons claiming a right to such share(s) have to appoint one single attorney to represent
such share(s) towards the Company. The failure to appoint such attorney implies a suspension of all rights attached to
such share(s).
Upon decision by the Board of Directors, any fractions of shares up to five (5) decimal places may be issued for
registered shares or for bearer shares that shall be entered into the accounts to the credit of the share account of the
shareholder at the Custodian Bank or the correspondent banks or the Transfert Agent providing the financial service for
the shares of the Company. For each Sub-Fund the Board of Directors shall limit the number of decimal places that shall
appear in the prospectus.
Fractions of shares shall not have any voting rights but shall provide a right to net assets of the Sub-Fund concerned
in relation to the portion represented by those fractions.
Within the limits and conditions fixed by the Board of Directors, bearer shares may be converted into registered
shares and vice versa.
Art. 7. Issue and Redemption methods. The Board of Directors is authorised, at any time and without limitation, to
issue new fully paid-up shares without providing existing shareholders with any priority right to the allocation of the
shares to be issued. Every shareholder has the right, at any time, to request the redemption of his/her shares under the
conditions and limits fixed by the current Articles of Incorporation and by the law.
Capital variations shall be effected ipso jure and without compliance with measures regarding publication and entry in
the commercial and company register prescribed for increases and decreases of capital of public limited companies.
The redemption of shares may be suspended pursuant to the provisions of Article 12 below.
The issue and redemption of shares, whatever the sub-fund the shares belong in, shall be effected on the basis of the
net asset value as defined in Article 11 below; these prices may, depending on the case, include or exclude the costs and
the commissions stipulated by the Board of Directors.
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The Board of Directors may, at any time, suspend or interrupt the issue of shares of a Sub-fund, category or class of
shares of the Company.
In the event of a share issue, the issue price must be settled within five (5) working days after the Valuation Day. In
the event this rule is not complied with, the Company may cancel the issue while retaining the right to seek the costs
and commissions that may be due. In the event of a redemption of shares, the payment of the price for such redemption
shall be made within five (5) working days following the Valuation Day.
In addition, a dilution levy may be imposed on deals as specified in the sales documents of the Company. Such dilution
levy should not exceed a certain percentage of the Net Asset Value determined from time to time by the Board of
Directors and disclosed in the sales documents of the Company. This dilution levy will be calculated taking into account
the estimated costs, expenses and potential impact on security prices that may be incurred to meet purchase and re-
demption requests.
The Company may agree to issue shares against a contribution of securities, as for example in the case of merger with
an external Sub-Fund, to the extent that these securities comply with the objectives and the investment policy of the Sub-
Fund in question and also comply with the provisions of Luxembourg law, with the liability to submit a valuation report
prepared by the External Auditor approved by the Company and which is available for consultation. All the costs con-
nected with the contribution of securities shall be borne by the shareholders in question.
Under exceptional circumstances that may have a negative affect on the interests of the shareholders, or in the event
of significant requests for redemption, the Company reserves the right not to fix the value of the shares until after the
execution of the purchases and sales of securities required, and to proceed with the redemption pursuant to the provisions
contained in the sale documents.
The net value of each share as well as the issue price and the redemption price at the Valuation Day shall be available
from the Company and the establishments charged with recording requests for allocation and redemption. The Board of
Directors shall decide, inter alia, which newspapers in which countries shall publish in particular the net value, as well as
the frequency of such publications.
The Company may, with the express written agreement of the shareholders concerned, and if the principle of their
equal treatment is respected, proceed with the redemption of its shares, in total or in part, for a payment pursuant to
the conditions stipulated by the Company (including, without limitation, the presentation of an independent valuation
report from the auditor of the Company).
Art. 8. Conversion methods. Except for specific restrictions decided by the Board of Directors and indicated in the
sale documents, every shareholder is authorised to request conversion within the framework of a single sub-fund or
between sub-funds of all or part of his shares of a single category and/or class of shares into shares of another category/
class.
The price for the conversion of shares shall be calculated using the net asset value of the two sub-funds, categories
and/or classes of shares in question, calculated on the same Valuation Day and taking into account the standard charges
for the sub-funds, categories and/or classes of shares in question.
The Board of Directors may impose restrictions it considers necessary, in particular regarding the frequency, the
methods and the conditions of conversions, and it may subject them to payment of fees and charges that it calculates.
In the event a conversion of shares shall result in a reduction in the number or the net asset value of the shares that
a shareholder holds in one category of shares defined below by a number or value defined by the Board of Directors,
the Company may oblige that shareholder to convert all the shares within the framework of that category.
Shares that have been converted shall be cancelled.
Requests for conversions may be suspended under the conditions and methods pursuant to Article 12.
Art. 9. Restrictions on ownership of shares. The Board of Directors may, at any time, at its own discretion and without
the need for justification:
- refuse any allocation of shares;
- redeem at any time shares of the Company illegitimately allocated or held.
Requests for allocation or redemption of shares may be made at establishments designated by the Company.
More specifically, the Company may restrict or prevent the ownership of shares in the Company by any person, firm
or corporate body, and without limitation, by any "U.S. person", as defined hereafter.
For such purposes the Company may:
a) decline to issue any share or to register any transfer of any share where it appears to it that such registration would
or might result in such share being directly or beneficially owned by a person, who is precluded from holding shares in
the Company;
b) at any time require any person whose name is entered in the Register of Shareholders to furnish it with any
information, supported by affidavit, which it may consider necessary for the purpose of determining whether or not
beneficial ownership of such shareholder's share rests or will rest in a person who is precluded from holding shares in
the Company; and
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U X E M B O U R G
c) where it appears to the Company that any person, who is precluded from holding shares or a certain proportion
of the shares in the Company, either alone or in conjunction with any other person is beneficial owner of shares, com-
pulsorily redeem from any such shareholder all or part of shares held by such shareholder in the following manner:
(1) The Company shall serve a notice (hereinafter called the "redemption notice") upon the shareholder holding such
shares or appearing in the Register of Shareholders as the owner of the shares to be redeemed, specifying the shares to
be redeemed as aforesaid, the price to be paid for such shares, and the place at which the redemption price in respect
of such share is payable. Any such notice may be served upon such shareholder by posting the same in a prepaid registered
envelope addressed to such shareholder at his last address known to or appearing in the books of the Company. Imme-
diately after the close of business on the date specified in the redemption notice, such shareholder shall cease to be a
shareholder and the shares previously held or owned by him shall be cancelled;
(2) The price at which the shares specified in any redemption notice shall be redeemed (herein called "the redemption
price") shall be an amount equal to the per share Net Asset Value of shares in the Company of the relevant class,
determined in accordance with Article 11 herein;
(3) Payment of the redemption price will be made to the shareholder appearing as the owner thereof in the currency
of denomination for the relevant class of shares and will be deposited by the Company with a bank in Luxembourg or
elsewhere (as specified in the redemption notice) for payment to such person. Upon deposit of such price as aforesaid
no person interested in the shares specified in such redemption notice shall have any further interest in such shares or
any of them, or any claim against the Company or its assets in respect thereof, except the right of the shareholder
appearing as the owner thereof to receive the price so deposited (without interest) from such bank as aforesaid.
(4) The exercise by the Company of the powers conferred by this Article shall not be questioned or invalidated in any
case, on the ground that there was insufficient evidence of ownership of shares by any person or that the true ownership
of any shares was otherwise than appeared to the Company at the date of any redemption notice, provided that in such
case the said powers were exercised by the Company in good faith; and
d) decline to accept the vote of any person who is precluded from holding shares in the Company at any meeting of
shareholders of the Company.
Whenever used in these Articles, the term "U.S. person" shall have the same meaning as in Regulation S, as amended
from time to time, of the United States Securities Act of 1933, as amended (the "1933 Act") or as in any other regulation
or act which shall come into force within the United States of America and which shall in the future replace Regulation
S of the 1933 Act. The Board of Directors shall define the word "U.S. person" on the basis of these provisions and publicise
this definition in the sales documents of the Company.
The Board of Directors may, from time to time, amend or clarify the aforesaid meaning.
In addition to the foregoing, the Board of Directors may restrict the issue and transfer of shares of a class to institutional
investors within the meaning of Article 174 of the Law of 17 December 2010 ("Institutional Investor(s)"), as may be
amended from time to time. The Board of Directors may, at its discretion, delay the acceptance of any subscription
application for shares of a class reserved for Institutional Investors until such time as the Company has received sufficient
evidence that the applicant qualifies as an Institutional Investor. If it appears at any time that a holder of shares of a class
reserved to Institutional Investors is not an Institutional Investor, the Board of Directors will convert the relevant shares
into shares of a class which is not restricted to Institutional Investors (provided that there exists such a class with similar
characteristics) and which is essentially identical to the restricted class in terms of its investment object (but, for avoidance
of doubt, not necessarily in terms of the fees and expenses payable by such class), unless such holding is the result of an
error of the Company or its agents, or the Board of Directors will compulsorily redeem the relevant shares in accordance
with the provisions set out in this Article. The Board of Directors will refuse to give effect to any transfer of shares and
consequently refuse any transfer of shares to be entered into the Register of Shareholders in circumstances where such
transfer would result in a situation where shares of a class restricted to Institutional Investors would, upon such transfer,
be held by a person not qualifying as an Institutional Investor.
In addition to any liability under applicable law, each shareholder who does not qualify as an Institutional Investor, and
who holds shares in a class restricted to Institutional Investors, shall hold harmless and indemnify the Company, the Board
of Directors, the other shareholders of the relevant class and the Company's agents for any damages, losses and expenses
resulting from or connected to such holding, in circumstances where the relevant shareholder had furnished misleading
or untrue documentation or had made misleading or untrue representations to wrongfully establish its status as an
Institutional Investor or has failed to notify the Company of its loss of such status.
Art. 10. Creation and Closure of sub-funds. All decisions relating to the creation or closure of a sub-fund shall be made
by the Board of Directors. The Board of Directors may, should the need arise, submit the case to the General Meeting
of Shareholders to deliberate.
Art. 11. Net asset value. The net asset value per share of each sub-fund, category or class of shares of the Company
as well as the issue and redemption prices shall be defined by the Company at a frequency to be stipulated by the Board
of Directors, however at least twice a month.
The accounts of each sub-fund or category or class of shares shall be held separately. The net asset value shall be
calculated for each sub-fund or category or class of shares and shall be expressed in the reference currency. The net
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U X E M B O U R G
asset value of the shares of each sub-fund or category or class of shares shall be defined by dividing the net assets of each
sub-fund or category or class of shares by the total number of shares of each sub-fund or category or class of shares in
circulation. The net assets of each sub-fund or category or class of shares correspond to the difference between the
assets and the liabilities of each of the sub-funds or categories or class of shares.
The day on which the net asset value shall be defined is stipulated in the present Articles of Incorporation as the
"Valuation Day".
The Board of Directors of the Company shall establish separate pool of net assets for each sub-fund. In contacts among
the shareholders, this pool shall be attributed only to the shares issued in respect to the sub-fund in question, taking
account, if applicable of the distribution of this pool between the different categories and/or classes of shares of that sub-
fund.
In respect to third parties, and notwithstanding Article 2093 of the Civil Code, the assets of one defined sub-fund only
cover the debts, commitments and liabilities relating to that sub-fund.
The valuation of the assets and liabilities of each sub-fund of the Company shall be performed pursuant to the following
principles.
In order to establish separate pools of assets corresponding to a sub-fund or to two or more categories and/or classes
of shares of a given sub-fund, the following rules shall apply:
a) If two or more categories/classes of shares relate to a single defined sub-fund, the assets attributed to those cate-
gories and/or classes of shares shall be invested together pursuant to the investment policy of the sub-fund in question,
subject to the specific conditions applying to those categories and/or classes of shares;
b) The proceeds resulting from an issue of shares relating to a single category and/or class of shares shall be attributed
in the books of the Company to the sub-fund that offers that category and/or class of shares, on the understanding that
if more than one category and/or class of shares are issued in relation to that sub-fund, the corresponding value shall
increase the proportion of the net assets of that sub-fund attributable to the category and/or class of shares to be issued;
c) The assets, liabilities, revenues and costs relating to a sub-fund shall be attributed to the category(ies) and/or class
(es) of shares corresponding to that sub-fund;
d) In the event one asset results from another asset, that asset shall be attributed, in the books of the Company, to
the same sub-fund or the same category and/or class of shares to which the asset from which it results belongs, and for
each new valuation of an asset, the increase or the decrease in the value shall be attributed to the corresponding sub-
fund or the category and/or class of shares;
e) If the Company has a liability that is attributable to an asset of a defined sub-fund or a category and/or class of shares,
or to an operation performed in relation to an asset of a defined sub-fund or a category and/or class of shares, that liability
shall be attributed to that sub-fund or category and/or class of shares;
f) In the event an asset or a liability of the Company cannot be attributed to a defined sub-fund, that asset or liability
shall be attributed to all the sub-funds in proportion to the net asset value of the categories and/or classes of shares in
question or in another manner that the Board of Directors shall determine in good faith;
g) After distributions made to the holders of shares of one category and/or class, the net asset value of that category
and/or class of shares shall be reduced by the value of those distributions.
The valuation of assets and liabilities of each sub-fund of the Company shall be performed, unless given otherwise in
the Prospectus, according to the following principles:
a) The value of the cash in hand or deposits, securities and bills payable on demand, advance payments, dividends and
interests that have fallen due but are not yet collected, shall be calculated using the nominal value of those assets, unless
it appears improbable that the asset in question can be collected. In such a case, the value shall be defined with the
deduction of a specific amount that appears reasonable in order to reflect the real value of those assets;
b) The valuation of securities officially listed or negotiated on a regulated market that is functioning normally, recognised
and open to the public, is based on the last rate known and if that security is traded on more than one market, based on
the last rate known on the principle market for that security. If the last rate known is not representative, the valuation
shall be based on the probable sale value estimated using the principles of prudence and good faith;
c) Securities that are not quoted or are not negotiable on a stock market or on a regulated market, functioning normally,
recognised and open to the public, shall be valued on the basis of the probable sale value estimated using the principles
of prudence and good faith;
d) Securities expressed in a different currency than that of the sub-fund in question shall be converted using the last
exchange rate known;
e) The liquidation value of futures contracts and option contracts that are not negotiated on regulated markets shall
equal their net liquidation value defined pursuant to the policies established by the Board of Directors, on a basis applied
coherently for each type of contract. The liquidation value of futures contracts or option contracts negotiated on regulated
markets shall be based on the last available settlement price for these contracts on the regulated markets on which these
futures contracts or option contracts are negotiated by the Company; in the event a futures contract or option contract
cannot be liquidated on the day on which the net assets are evaluated, the base that shall be used to determine the
liquidation value of that contract shall be defined by the Board of Directors in a fair and reasonable manner;
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f) The Board of Directors may authorise the use of amortised cost method of valuation for short-term transferable
debt securities in certain su-funds. This method involves valuing a security at its cost and thereafter assumimg a constant
amortisation to maturity of any discount or premium regardless of the impact of fluctuating interest rates on the market
value of the security or other instrument. While this method provides certainty in valuation, it may result in periods
during which value as determined by amortised cost, is higher or lower than the price the sub-fund would receive if it
sold the securities. This method of valuation will only be used in accordance with ESMA guidelines concerning eligible
assets for investments by UCITS and only with respect to securities with a maturity at issuance or residual term to
maturity of 397 days or less or securities that undergo regular yield adjustments at least every 397 daysg) Units of UCITS
and/or other UCI shall be valued at their last known net asset value per share;
h) Interest rate swaps shall be valued at their market value established by reference to the applicable rate curve. Swaps
on financial indexes or instruments shall be valued at their market value established by reference to the financial index
or instrument in question. The valuation of the swap contracts relative to the financial indexes or instruments shall be
based on the market value of these swap operations according to the procedures established by the Board of Directors;
i) All other securities and assets shall be valued at their market value defined in good faith, in compliance with the
procedures established by the Board of Directors;
j) All other holdings shall be valued on the basis of their probable realisation value, which must be estimated with
prudence and in good faith.
The appropriate deductions shall be performed for the costs incurred by the Company, by each sub-fund or by each
category and/or class of shares, calculated on a regular base, and any eventual liabilities of the Company, of each sub-fund
and of each category and/or class of shares shall be taken into account by a fair valuation.
The appropriate deductions shall be made for the expenditure incurred by the Company and the liabilities of the
Company shall be taken into consideration according to fair and prudent criteria. The Company shall bear the totality of
the operating costs anticipated in its Prospectus and/or by contract. The Company shall be instructed to pay remuneration
provided to external operators, to the Custodian Bank and, should the need arise, those of the correspondents, com-
mission for the Administrative and Financial Agent; the costs and fees of the External Auditor; the costs of publication
and for informing the shareholders, in particular the costs of printing and distributing the prospectus and the periodical
reports; the costs of necessary procedures for the establishment of the Company, for its introduction into the stock
market and for its approval by the relevant authorities; the brokerage and commissions arising from the transactions on
the securities in the portfolio; all the taxes and duties that may be due on its revenues; the subscription price as well as
the fees due to the supervisory authorities, the costs arising from the distribution of dividends; the costs of consultation
and other costs of extraordinary measures, in particular the expert valuations or lawsuits with the aim of safeguarding
the interests of the shareholders; the annual duties for listing on the stock market.
In addition, all reasonable expenditure and advance payments, including, without this list being in any way exhaustive,
costs for telephone, telex, telegram and postage incurred by the Custodian Bank from purchases and sales of securities
in the portfolio of the Company, shall be borne by the Company.
This remuneration also includes that relating to the functions of the recording agent of the Company. As paying agent,
the Custodian Bank may apply its normal commission in relation to the payment of the dividends by the Company.
Art. 12. Suspension of the calculation of the net asset value and Issue and Redemption of shares. Irrespective of the
legal causes of suspension, the Company may at any moment suspend the valuation of the net value of the shares in a
sub-fund, a category or class of shares of the Company as well as the issue and redemption and conversion of these shares
in the following cases:
(a) during any period when any of the principal stock exchanges or any other regulated market on which any substantial
portion of the Company's investments of the relevant class for the time being are quoted, is closed or during which
dealings are restricted or suspended;
(b) during the existence of any state of affairs which constitutes an emergency as a result of which disposal or valuation
of investments of the relevant class by the Company is impracticable;
(c) during any breakdown in the means of communication normally employed in determining the price or value of any
of the Company's investments or the current prices or values on any market or stock exchange;
(d) during any period when the Company is unable to repatriate funds for the purpose of making payments on the
redemption of such shares or during which any transfer of funds involved in the realisation or acquisition of investments
or payments due on redemption of such shares cannot in the opinion of the Board of Directors be effected at normal
rates of exchange;
(e) further to the publication of a convening notice to a general meeting of shareholders in order to resolve the winding
up or the liquidation of the Company;
(f) if the Board of Directors has determined that there has been a material change in the valuations of a substantial
proportion of the investments of the Company attributable to a particular class of shares in the preparation or use of a
valuation or the carrying out of a later or subsequent valuation;
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(g) during any other circumstance or circumstances where a failure to do so might result in the Company or its
shareholders incurring any liability to taxation or suffering other pecuniary disadvantages or any other detriment which
the Company or its shareholders might so otherwise have suffered;
(h) when a Sub-Fund merges with another sub-fund or with another UCITS (or a Sub-Fund of such other UCITS)
provided any such suspension is justified by the protection of the Shareholders; and/or
(i) when a class of shares or a sub-fund is a Feeder of another UCITS, if the net asset value calculation of the Master
UCITS or sub-fund or class of shares is suspended.
In the absence of bad faith, grave negligence and clear error, any decision taken by the Board of Directors or by a
person delegated by the Board of Directors in relation to the calculation of the net asset value, shall be definitive and
obligatory for the Company as well as for the shareholders.
Any such suspension shall be published, if appropriate, by the Company and be notified to shareholders having made
an application for subscription, redemption or conversion of shares for which the calculation of the net asset value has
been suspended.
Such suspension as to any Sub-Fund, category and/or class of shares shall have no effect on the calculation of the net
asset value per share, the issuance, redemption and conversion of shares of any other Sub-Fund, category and/or class of
shares.
Art. 13. General meetings of shareholders. The Ordinary General Meeting of Shareholders of the Company shall
represent all the shareholders of the Company. It shall enjoy the greatest powers for ordering, performing or ratifying
all acts relating to the operations of the Company.
The Annual General Meeting of Shareholders shall be held in Luxembourg at the registered office of the Company or
at any other location in the Grand Duchy of Luxembourg that shall be stipulated in the convocation, the third Tuesday
of May at 03.00 pm. In the event that this day is a public holiday or a bank holiday in Luxembourg, the Annual General
Meeting shall be held the first subsequent day that banks are open. The Annual General Meeting may be held abroad if
the Board of Directors states without appeal that exceptional circumstances require such a move.
The convocation indicates the place and the practical arrangements for providing the annual accounts, the report of
the approved statutory auditor, and the management report (if applicable) to the shareholders and specifies that each
shareholder may request that the annual accounts, the report of the approved statutory auditor and the management
report (if applicable) are sent to him.
Decisions concerning the general interests of the shareholders of the Company shall be taken during a General Meeting
of the Shareholders and the decisions concerning specific rights of shareholders of a sub-fund or of a category/class of
shares shall be taken during a General Meeting of the Shareholders of that sub-fund or that category/class of shares.
The quorums and delays required by law shall regulate the convocations and the course of the General Meetings of
Shareholders of the Company wherever these are not specified in the present Articles of Incorporation.
Other general meetings may be held at such time and place as decided by the Board of Directors.
In order to be admitted into the General Meeting, every security holder must deposit his bearer securities five working
days before the date fixed for the General Meeting, at the registered office or at establishments designated in the con-
vocation.
The owners of registered shares must, within the same deadline, inform the Board of Directors in writing (letter or
proxy) of their intention to participate in the General Meeting and must indicate the number of securities for which they
intend to participate in the voting.
Any share of any sub-fund, category or class, whatever its value, provides the right to a single vote.
Every shareholder may take part in General Meetings of Shareholders appointing another person in writing as proxy
or by telefax message or any other electronic means capable of evidencing such proxy, who cannot themselves be a
shareholder. Such proxy shall be deemed valid, provided that it is not revoked, for any reconvened shareholders' meeting.
Except as otherwise required by law or as otherwise provided herein, resolutions at a meeting of shareholders or at
a class meeting duly convened will be passed by a simple majority of the votes cast. Votes cast shall not include votes in
relation to shares in respect of which the shareholders have not taken part in the vote or have abstained or have returned
a blank or invalid vote. A shareholder who is a corporation may execute a proxy under the hand of a duly authorized
officer.
The Board of Directors may determine any other conditions to be complied with by the shareholders in order to take
part in the General Meeting.
Shareholders will meet upon call by the Board of Directors pursuant to convocation setting forth the agenda sent, in
accordance with the applicable laws and regulations, to the shareholder's address in the Register of Shareholders.
If and to the extent required by Luxembourg law, the convocation shall, in addition, be published in the Mémorial,
Recueil des Sociétés et Associations of Luxembourg, in a Luxembourg newspaper and in such other newspapers as the
Board of Directors may decide.
If, however, all of the shareholders are present or represented at a meeting of shareholders, and if they state that they
have been informed of the agenda of the meeting, the meeting may be held without prior notice or publication.
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The General Meeting of Shareholders may only address the items contained in the agenda.
Following conditions set forth in Luxembourg laws and regulations, the convocation to any general meeting of share-
holders may specify that the quorum and the majority applicable for this general meeting will be determined by reference
to the shares issued and in circulation at a certain date and time preceding the general meeting (referred to as "Record
Date"). The rights of a shareholder to attend a general meeting of shareholders and to exercise a voting right attaching
to his/its/her shares will be determined by reference to the shares held by this shareholder at the Record Date.
Art. 14. Board members. The Company shall be administered by a Board of Directors composed of at least three
members; the members of the Board of Directors do not need to be shareholders of the Company.
If a legal entity is appointed as a board member, it may designate a natural person through which it shall exercise the
functions of board member. In this regard, third parties shall not be able to demand justification for his powers -the simple
indication of the quality of the representative or delegate of the legal entity being sufficient.
The board members are elected by the General Meeting of the Shareholders for a maximum period of six years. They
may be re-elected.
The mandate of departing board members who have not been re-elected shall cease immediately after the General
Meeting.
Any board member may be dismissed with or without reason, or may be replaced at any moment by decision of the
General Meeting of the Shareholders.
The board members proposed for election and whose names appear in the agenda of the annual General Meeting shall
be elected by a majority of the shares present or represented and voting.
In the event a position of board member becomes vacant as the result of a death, resignation or otherwise, the
remaining board members may elect, with a majority of votes, another board member temporarily to perform the func-
tions attached to the position that has become vacant until the next General Meeting of Shareholders.
Art. 15. Chairmanship and Meeting of the board of directors. The Board of Directors shall choose a chairman from
among its members and may elect from its members one or more vice-chairmen. It may also appoint a secretary or
officers, while these do not need to be board members.
The Board of Directors shall meet upon convocation from the chairman or two board members, at the location, on
the date and at the time indicated in the convocation. The written notice of any meeting of the Board of Directors shall
be served on all the board members at least twenty-four (24) hours before the date provided for the meeting unless it
is urgent, in which case the nature and the reasons for that urgency shall be indicated in the notice of convocation. That
convocation may be waived with the consent of each board member in writing by telegram, telex, fax, e-mail or any other
similar means of communication. A special convocation shall not be required for a meeting of the Board of Directors
being held at a time and place determined in a resolution passed in advance by the Board of Directors.
Each of the board members may act at any meeting of the Board of Directors by appointing another board member
as his proxy, in writing, by telegram, telex fax or e-mail, or by another similar means of telecommunication permitting
the identification of such Director. However, no board member may represent more than one of his colleagues.
Any board member may take part in a meeting of the Board of Directors by telephone or video conference or by
using other means of communication when all the persons taking part in that meeting may hear or see each other. Taking
part in a meeting in this way shall be the same as attending such a meeting in person at the registered office of the
Company. Directors may also cast their vote in writing or by cable, telegram, telex, telefax or e-mail message or any
other electronic means capable of evidencing such vote.
The Board of Directors meets under the chairmanship of its chairman or, in the event of his absence, its vice-chairman
if there is one, if not then by a delegated board member if there is one, or if not then by a board member.
The Board of Directors may only meet and act if at least two board members are present or represented. Decisions
are taken with the majority of votes of the board members present or represented. For the calculation of quorum and
majority, the Directors participating at the Board by video conference or by telecommunication means permitting their
identification are deemed to be present. In the event that, at a meeting of the Board of Directors, there is the same
number of votes for and against a decision, the vote of the person chairing the Board of Directors shall prevail.
Irrespective of the provisions above, a decision by the Board of Directors may also be taken by circular. Such a decision
shall have the approval of all the board members whose signatures are applied either on a single document or on multiple
copies of it or by telex, cable, telegram, telefax or e-mail message or by telephone provided in such latter event such vote
is confirmed in writing. The entirety will form the minutes giving evidence of the resolution.
Such a decision shall have the same validity and the same force as if it was taken during a meeting of the Board of
Directors called and held in the normal way.
The minutes of meetings of the Board of Directors shall be signed by the chairman, by the vice-chairman, by the
delegated board member or by the board member who has assumed the chairmanship in his absence, or by two board
members of the Company. Copies or extracts of the minutes intended to be used in court or otherwise shall be signed
by the chairman, or by the secretary, or by two board members, or by any person authorised by the Board of Directors.
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Art. 16. Powers of the board of directors. The Board of Directors has the widest powers to carry out all administrative
acts or measures in the interests of the Company. All powers not expressly reserved for the General Meeting by the law
or by these Articles of Incorporation shall be within the competency of the Board of Directors.
The Board of Directors, applying the principle of spreading risk, has the power to stipulate the general direction of
the management and the investment policy as well as the course of action to be followed in the administration of the
Company.
Art. 17. Investment policy. The Board of Directors, applying the principle of spreading risk, has the power to stipulate
the investment policy of each sub-fund as well as the course of action to follow in the administration of the Company.
The Board of Directors shall also determine any restrictions which shall from time to time be applicable to the investments
of the Company, in accordance with Part I of the 2010 Law, including, without limitation, restrictions in respect of:
a) the borrowings of the Company and the pledging of its assets;
b) the maximum percentage of its assets which it may invest in any form or class of security and the maximum per-
centage of any form or class of security which it may acquire.
A. In order to achieve this, the Board of Directors may decide to place its assets in:
1) Transferable securities and money market instruments admitted to or dealt in on a regulated market within the
meaning of the directive 2004/39/EC.
2) Transferable securities and money market instruments dealt in on another market of a European Union (hereinafter
only the "EU") Member State which is regulated, operates regularly and, is open to the public.
3) Transferable securities and money market instruments admitted to official listing on a stock exchange in the EU or
dealt in on another market in a non-Member State of the EU which is regulated, operates regularly and is recognised and
open to the public in any other country in Eastern and Western Europe, the American continent, Asia, Oceania and
Africa.
4) Transferable securities and money market instruments newly issued, provided that:
- The terms governing the issue include the provision that application shall be made for official listing on a stock
exchange, or on another regulated market which operates regularly, and is recognized and open to the public; and
- such listing is secured within one (1) year of issue.
5) Shares of the UCITS and/or other UCIs in the sense of Article 1, paragraph (2), points a) and b) of Directive 2009/65/
EC, whether or not established in a Member State of the EU, provided that:
- Such other UCIs are authorized under laws which provide that they are subject to supervision considered by the
Regulatory Authority to be equivalent to that laid down in EU law, and that the cooperation between authorities is
sufficiently guaranteed;
- The level of protection of shareholders in the other UCIs is equivalent to the level of protection of shareholders of
a UCITS and in particular the provisions for separate management of the Company's assets, borrowing, credit allocation
and short selling of securities and money market instruments are equivalent to the requirements of the Directive 2009/65/
EC;
- That the business activity of the other UCIis subject to semi- annual and annual reports that permit an valuation of
the assets and the liabilities, the profits and the operations in the period in question;
- The proportion of assets of UCITS or of these other UCIs regarding which the acquisition is being considered and
which may be invested globally in shares of other UCITS or of other UCIs pursuant to their articles of incorporation,
does not exceed 10%.
6) Sight deposits or callable deposits with a maximum term of twelve (12) months with credit institutions, provided
the credit institution in question has its registered office in EU Member State, or if the registered office of the credit
institution is in a third state, provided it is subject to supervisory provisions that the CSSF holds to be equivalent to those
of EU Law.
7) Financial derivative instruments, including similar instruments giving rise to a settlement in cash, which are traded
on a regulated market of the type referred to in points (1), (2) and (3) above, and/or financial derivatives instruments
traded overthe-counter ("over-the-counter derivatives"), provided that:
- the underlying assets are instruments within the meaning of this section title A, financial indices, interest rates, foreign
exchange rates or currencies, in which the Company may invest according to its investment objectives;
- with regard to transactions involving OTC derivatives, the counterparts are institutions from categories subject to
official supervision which is approved by Luxembourg supervisory authorities; and
- the OTC derivatives are subject to reliable and examinable valuation on a daily basis and can at an appropriate time
on the initiative of the Company be disposed of, liquidated or realised by a counter-transaction at any time at their fair
value; In no case will these operations lead the Company to depart from its investment objectives.
In particular, the Company may intervene in transactions relating to options, future contracts on financial instruments
and options on such contracts.
8) Money-market instruments, that are not traded on a regulated market, provided the issue or the issuer of such
instruments are subject to provisions concerning deposits and investor protection, and provided they are:
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- issued or guaranteed by a central state, regional or local body or central bank of an EU Member State, the European
Central Bank, the EU or the European Investment Bank, a third state or in the case of a federal state, a Member state of
the federation, or an international public law institution, which at least belongs to a Member State of the EU; or
- issued by a company the securities of which are traded on the regulated markets indicated in points 1), 2) and 3)
above; or
- issued or guaranteed by an establishment subject to prudential supervision pursuant to the criteria defined by EU
law, or by an establishment which is subject to and abides by prudential rules considered by the CSSF to be at least as
strict as those imposed by EU legislation; or
- issued by other issues which belong to a category approved by the CSSF, provided that for the investments in these
instruments there are provisions for investor protection which are equivalent to the first, second or third point and
provided that the issuer is either a with equity capital and reserves of at least ten million euros (EUR 10,000,000), which
draws up and publishes its annual reports in accordance the provisions of the Directive 78/660/EEC, or a legal entity
which, within a group of companies with one or more stock market listed companies, is responsible for the financing of
the group, or a legal entity where the security is backing of liabilities will be financed by use of a line of credit granted by
a bank.
B. Moreover, the Company may for each sub-fund:
- invest up to 10% of the net assets of the sub-fund in transferable securities or money market instruments other than
those referred to in A (1) to (4) and (8).
- retain, as collateral, liquid assets and other instruments convertible into liquid.
- borrow up to 10% of the net assets of the sub-fund , insofar as these are temporary borrowings. Commitments in
relation to option contracts, purchases and sales of futures contracts are not considered borrowing for the calculation
of the investment limit.
- acquire currency through type of face-to face loan.
C. The Company may acquire movable and immovable property which is essential for the direct pursuit of its business.
D. Moreover, a sub-fund of the Company may subscribe, acquire and/or hold securities to be issued or issued by one
or more other sub-funds of the Company, in accordance with the provisions set forth in the sales documents of the
Company and with the restrictions set forth in the 2010 Law.
E. Under the conditions set forth in Luxembourg laws and regulations, the Board of Directors may, at any time it
deems appropriate and to the widest extent permitted by applicable Luxembourg laws and regulations, but in accordance
with the provisions set forth in the sales documents of the Company:
(i) create any sub-fund and/or class of shares qualifying either as a feeder UCITS or as a master UCITS,
(ii) convert any existing sub-fund and/or class of shares into a feeder UCITS sub-fund and/or class of shares or
(iii) change the master UCITS of any of its feeder UCITS sub-fund and/or class of shares.
By way of derogation from Article 46 of the 2010 Law, the Company or any of its sub-funds which acts as a feeder
(the "Feeder") of a master-fund shall invest at least 85% of its assets in another UCITS or in a sub-fund of such UCITS
(the "Master").
The Feeder may not invest more than 15% of its assets in the following elements:
(i) ancillary liquid assets in accordance with Article 41, paragraph (2), second sub-paragraph of the 2010 Law;
(ii) financial derivative instruments which may be used only for hedging purposes, in accordance with Article 41 first
paragraph, point g) and Article 42 second and third paragraphs of the 2010 Law;
(iii) movable and immovable property which is essential for the direct pursuit of the Company' business.
Art. 18. Daily management.
a) The Board of Directors may establish, within or outside itself, any management committee, any consultative or
technical committee, permanent or not, while it shall stipulate the composition, the powers and, if so required, the fixed
or variable remuneration of its members, to be charged to overheads.
b) The Board of Directors may entrust the daily management of the Company as well as the representation of the
Company as regards this management:
- Either to one or more of its members who hold the title of acting managing director.
- Or to one or more representatives chosen from within or outside itself;
- The Board of Directors and the representatives for the daily management may, within the framework of that mana-
gement, delegate special and limited powers to any proxy;
- It may also charge the management of one or more parts of the social affairs to one or more directors or authorised
representatives chosen from within or outside itself and charge all special and limited powers to any proxy;
- The Board of Directors may use more than one of the facilities above and recall at any time the persons mentioned
in the paragraphs above;
- It fixes the awards and the fixed or variable remuneration, charged to overheads, of the persons to whom it grants
the powers.
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Art. 19. Representation - Legal transactions, Legal actions and Commitments of the company. The Company is re-
presented as regards its legal transactions, including those involving a public functionary, a law official and in legal
proceedings:
- By two board members together;
- Or by the (those) charged with the daily management acting together or separately, within the limits of their powers.
In addition, it is validly bound by special proxies within the limits of their mandates.
Legal actions, as plaintiff or defendant, shall be monitored on behalf of the Company by a member of the Board of
Directors or by a person so authorised by the Board of Directors.
The Company is bound by the acts performed by the Board of Directors, by the board members authorised
to represent it or by the person(s) authorised with the daily management.
Art. 20. Invalidation clause. No contract and no transaction that the Company can conclude with other companies or
firms may be affected or invalidated by the fact that one or more board members, directors or authorised representatives
of the Company have any interest whatsoever in any other company or firm, or by the fact that that person is board
member, associate, director, authorised representative or employee of such society or company. The board member,
director or authorised representative of the Company who is a board member, director or authorized representative
or employee of a society or company with which the Company has contracts or with which it is otherwise conducting
business, shall not be deprived of the right to deliberate, to vote and to act regarding matters related to such contract
or such business. In the event that a board member, director or authorized representative has a personal interest in an
operation by the Company, such board member, director or authorised representative must inform the Board of Di-
rectors of his personal interest and he shall not deliberate and shall not take part in a vote on that matter; a report must
be made regarding this matter and the personal interest of the board member, director or authorised representative at
the next General Meeting of Shareholders. This paragraph shall not apply where the decision of the Board of Directors
relates to current operations entered into under normal conditions.
The term "personal interest", as used in this Article 20, shall not include any relationship with or interest in any matter,
position or transaction involving the Company or any subsidiary thereof, or such other company or entity as may from
time to time be determined by the Board of Directors at its discretion.
Art. 21. Indemnification. In the absence of serious negligence or bad management, any person who is or has been
director, authorised representative or board member may be remunerated by the Company for the total expenditure
justifiably incurred for all actions or lawsuits he participated in within the framework of his position as board member,
director or authorised representative of the Company.
Art. 22. Authorised auditor. Pursuant to the 2010 Law, the accounting and the preparation of all declarations imposed
by Luxembourg law shall be monitored by an approved authorised auditor. The authorised auditors shall be elected by
the Annual General Meeting of the Shareholders for period ending at the date of the next Annual General Meeting of
Shareholders and until their successors are elected . The mandate of a departing authorised auditor who has not been
re-elected shall cease immediately after the General Meeting.
Art. 23. Custody of the assets of the company.
a) The custody of the assets of the Company shall be entrusted to a banking or savings institution in the meaning of
the law modified with regard to the financial sector (the "Custodian Bank"). If the Custodian Bank wishes to resign, the
Board of Directors shall use its best endeavours to find a successor custodian within two months of the effectiveness of
such resignation. The Board of Directors may denounce the custody agreement but may not remove the custodian unless
a successor Custodian has been found.
b) The Custodian Bank holding the assets of the Company shall be bound to comply with the liabilities and duties fixed
within the framework of an agreement established to this effect and in compliance with Luxembourg laws.
Art. 24. Management consultants. The Company may conclude one or more management or consultancy contracts
with any Luxembourg-based company or company based abroad through which such company or any other company
approved in advance shall provide consultation services, recommendations or management services for the Company in
regard to the investment policy of the Company.
In order to reduce operational and administrative charges while permitting the greatest diversification of investments,
the Board of Directors may decide that all or part of the assets of several sub-fund may be managed on a communal basis
if that is appropriate (pooling).
Such a pool of assets (hereinafter only "Pool of Assets" for the needs of this document) shall be composed by the
transfer of liquid assets or (while complying with the limitations mentioned above) other assets of each of the participating
sub-funds. The board members may from time to time make other contributions or deductions of assets in respect to
their respective investment sector.
Such Pools of Assets must not be considered as separate legal entities, and units of these Pools of Assets must not be
considered as shares of the Company.
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The rights and the liabilities of each sub-fund managed on this global basis apply to each of them and concern each of
the investments performed within the Pools of Assets regarding which they hold the units.
Dividends, interest and other distributions that have the characteristic of revenue, received on behalf of a Pool of
Assets shall be immediately credited to the subfunds proportionally to their respective participation in the Pool of Assets
at the moment of receipt. In the event of the dissolution of the Company, the assets of a Pool of Assets shall be allocated
to the sub-funds in proportion to their respective participation in the Pool of Assets.
Art. 25. Financial year period - Annual and Periodical reports. The financial year shall commence on the 1
st
January
and end on 31
st
December of the same year.
The accounts of the Company shall be prepared in EUR. In the event there are different sub-funds of shares and if the
accounts of these sub-funds have been prepared in different currencies, these accounts shall be converted into EUR and
totaled for the determination of the accounts of the Company.
Art. 26. Distribution of the annual income. Upon proposal by the Board of Directors and in compliance with legal
limits, the General Meeting of the Shareholders of the category(ies)/class(es) of shares issued within the framework of a
sub-fund shall determine the allocation of the results of that sub-fund and may on a periodical basis declare or authorise
the Board of Directors to declare interim distributions. For each category/class of shares or for all categories/classes of
shares giving the right to such distributions, the Board of Directors may decide to pay interim dividends, while remaining
in compliance with the law.
The payments of distributions to registered shareholders shall be made to those shareholders at their addresses
indicated in the register of shareholders. The payments of distributions to holders of bearer shares shall be made on
presentation of the dividend coupon to the agent or agents designated for this purpose by the Company.
The distributions may be paid in any currency chosen by the Board of Directors and at the time and place it chooses.
The Board of Directors may decide to distribute dividends in the form of new shares instead of cash dividends.
Any declared distribution that is not claimed by its beneficiary within five years from the date of its allocation may no
longer be claimed and shall revert to the corresponding sub-fund to the category(ies)/class(es) of shares in question.
The Board of Directors has all powers and may take all measures necessary for the application of this provision.
No interest shall be paid on dividends announced but remaining in the hands of the Company on behalf of its share-
holders.
The payment of revenues can only be considered due insofar as the exchange regulations in force permit their distri-
bution within the country of residence of the beneficiary.
Art. 27. Closure and Merger of sub-funds, Categories or Classes.
A. CLOSURE OF SUB-FUNDS, CATEGORIES OR CLASSES
If the assets of any sub-fund, category or class fall below a level at which the Board of Directors of the Company
considers that its management is too difficult to ensure, it may decide to close that sub-fund, category or class. It may
also do so within the framework of a rationalisation of the range of the products it offers to its clientele.
The decision and the methods of closure shall be brought to the knowledge of the shareholders of the sub-fund,
category or class in question.
A notification relating to the closure of the sub-fund, category or class may also be transmitted to all the registered
shareholders of this sub-fund, category or class.
The net assets of the sub-fund, category or class in question shall be distributed among the remaining shareholders of
the sub-fund, category or class. Any amounts that have not been distributed at the closure of the liquidation operations
of the sub-fund, category or class in question shall be deposited at the public trust office (Caisse de Consignation) in
Luxembourg to be held for the benefit of the persons entitled thereto and shall be forfeited after 30 years.
B. MERGER OF SUB-FUNDS, CATEGORIES OR CLASSES
The Board of Directors of the Company may decide, in the interest of the shareholders, to transfer or merge the
assets of one sub-fund, category or class of shares to those of another sub-fund, category or class of shares within the
Company. Such mergers may be performed for reasons of various economic reasons justifying a merger of sub-funds,
categories or classes of shares. The merger decision shall be published and be sent to all registered shareholders of the
sub-fund, category or of the concerned class of shares at least one month before the effective date of the merger. The
publication in question shall indicate, in addition, the characteristics of the new sub-fund, the new category or class of
shares. Every Shareholder of the relevant sub-funds, categories or classes shall have the opportunity of requesting the
redemption or the conversion of his own shares without any cost (other than the cost of disinvestment) during a period
of at least thirty (30) days before the effective date of the merger, it being understood that the effective date of the merger
takes place five (5) business days after the expiry of such notice period.
In the same circumstances as described in the previous paragraph and in the interest of the shareholders, the transfer
of assets and liabilities attributable to a sub-fund, category or class of shares to another UCITS or to a sub-fund, category
or class of shares within such other UCITS (whether established in Luxembourg or another Member State and whether
such UCITS is incorporated as a company or is a contractual type fund), may be decided by the Board of Directors of
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the Company, in accordance with the provisions of the 2010 Law. The Company shall send a notice to the Shareholders
of the relevant sub-fund in accordance with the provisions of CSSF Regulation 10-5. Every shareholder of the sub-fund,
category or class of shares concerned shall have the possibility to request the redemption or the conversion of his shares
without any cost (other than the cost of disinvestment) during a period of at least thirty (30) days before the effective
date of the merger, it being understood that the effective date of the merger takes place five (5) business days after the
expiry of such notice period.
In the case of a contribution in a different Undertaking for collective investment, of the type "investment or mutual
fund", the contribution shall only involve the shareholders of the sub-fund, the category or the class of shares in question
who have expressly approved the contribution. Otherwise, the shares belonging to the other shareholders who have not
made a statement regarding that merger shall be reimbursed without any cost. Such mergers may be carried out in various
economic circumstances that justify a merger of sub-funds.
In case of a merger of a sub-fund, category or class of shares where, as a result, the Company ceases to exist, the
merger needs to be decided by a meeting of shareholders of the sub-fund, category or class of shares concerned, for
which no quorum is required and decisions are taken by the simple majority of the votes cast.
Art. 28. Dissolution. In the event of the dissolution of the Company, the Company shall be liquidated by one or more
liquidators who may be natural persons or legal entities and who shall be nominated by the General Meeting of the
Shareholders, which shall also stipulate their powers and their remuneration.
In the event the capital of the Company becomes less than two-thirds of the legal minimum capital, the board members
must submit the question of the dissolution of the Company to the General Meeting deliberating without condition of
attendance and deciding with a simple majority of the shares present or represented at the General Meeting. In the event
the capital falls to less than one quarter of the legal minimum capital, the General Meeting shall also discuss, again without
condition of attendance, but in this case the dissolution may be pronounced by the shareholders possessing one quarter
of the shares represented at the General Meeting.
The convocations to such General Meetings must be made so that the General Meetings are held within a deadline of
forty days from the date it is found that the net asset has fallen to either two-thirds or one-quarter of the minimum
capital.
The net proceeds from the liquidation of each sub-fund shall be distributed by the liquidators to the shareholders of
that sub-fund.
Art. 29. Amendments to the articles of incorporation. The present Articles of Incorporation may be amended by a
General Meeting of the Shareholders subject to the quorum and voting conditions pursuant to Luxembourg law and by
the provisions of the present Articles of Incorporation.
Art. 30. Legal provisions. For all matters that are not regulated through the present Articles of Incorporation, the
parties shall refer to the provisions of the law of 10 August 1915 on commercial companies as well as of the 2010 Law,
as both may be amended from time to time.
<i>Transitory Dispositionsi>
1) The first accounting year will begin on the date of the incorporation of the Company and will end on 31 December
2012.
2) The first annual general meeting of shareholders will be held 2013.
<i>Initial Capital - Subscription and Paymenti>
The initial share capital is fixed at EUR 31,000.-(thirty-one thousand euros) represented by 31 (thirty-one) shares
without a par value.
The share capital of the Company is subscribed as follows:
LA FRANCAISE DES PLACEMENTS subscribes for 31 (thirty-one) shares, resulting in a total payment of Euro 31.000,-
(thirty-one thousand Euros).
Evidence of the above payment of Euro 31.000,- (thirty-one thousand Euros) was given to the undersigned notary.
<i>Declarationi>
The undersigned notary herewith declares having verified the existence of the conditions enumerated in Articles 26,
26-3 and 26-5 of the Law of 1915 and expressly states that they have been fulfilled.
<i>Expensesi>
The formation and preliminary expenses of the Company, amount to approximately Euro 3,000.-
<i>General Meeting of shareholdersi>
The above named person representing the entire subscribed capital and considering itself validly convened, has im-
mediately proceeded to resolve as follows:
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I. Are elected as directors of the Company with immediate effect until the annual general meeting of shareholders to
be held in the year 2013:
1) Alain GERBALDI, Chairman LA FRANCAISE AM INTERNATIONAL, 4a, rue Henri Schnadt L-2530 Luxembourg,
born on 27 January 1948 in Paris (France) Chairman of the Board of Directors
2) Pascale AUCLAIR, Managing Director LA FRANCAISE DES PLACEMENTS, 17, rue de Marignan F-75008 Paris, born
on 6 January 1961 in Thonon-Les-Bains (France)
3) Philippe VERDIER, Managing Director LA FRANCAISE AM INTERNATIONAL, 4a, rue Henri Schnadt L-2530 Lu-
xembourg, born on 16 August 1964 in Rouen (France)
4) Patrick RIVIERE, Managing Director LA FRANCAISE AM, 17, rue de Marignan F-75008 Paris, born on 2 February
1959 in Saint-Etienne (France)
II. The following is elected as independent auditor until the annual general meeting of shareholders to be held in the
year 2013:
Deloitte S.A., having its registered office at L-2220 Luxembourg, 560, rue de Neudorf.
III. The registered office is established in L5826 Hesperange, 33, rue de Gasperich.
The undersigned notary, who understands and speaks English, herewith states that on request of the above named
persons, this deed is worded in English.
Whereof this notarial deed was drawn up in Luxembourg on the date at the beginning of this deed.
This deed having been given for reading to the party, they signed together with, the notary this original deed.
Signé: M.-L. MARTINET et J. BADEN.
Enregistré à Luxembourg A.C., le 4 mai 2012. LAC / 2012 / 20426. Reçu soixante quinze euros € 75,-
<i>Le Receveuri> (signé): THILL.
- POUR EXPEDITION CONFORME - délivrée à la Société sur demande.
Luxembourg, le 9 mai 2012.
Référence de publication: 2012053977/766.
(120075468) Déposé au registre de commerce et des sociétés de Luxembourg, le 9 mai 2012.
Next Am Fund, Société d'Investissement à Capital Variable.
Siège social: L-5826 Hesperange, 33, rue de Gasperich.
R.C.S. Luxembourg B 168.626.
<i>Rectificatif Réf: L120075468 du 9.5.2012i>
In the year two thousand and twelve, on the third of May.
Before, Maître Joelle BADEN, notary residing in Luxembourg,
There appeared:
LA FRANCAISE DES PLACEMENTS, a société par actions simplifiée incorporated under French law, having its regis-
tered office in F-75008 Paris, 173, boulevard Haussmann, registered in the Companies and Trade Register of Paris under
number 314 024 019 here represented by Mrs Marie-Laure Martinet, private employee, with professional address in
Luxembourg, by virtue of a proxy given on 27 April 2012.
The proxy given, signed ne varietur by the appearing person and the undersigned notary, shall remain annexed to this
document to be filed with the registration authorities.
Such appearing party, in the capacity in which it acts, has requested the notary to state as follows the articles of
incorporation (the "Articles") of a société anonyme (S.A.) with variable share capital that shall be constituted as follows:
Art. 1. Form and Corporate name. Between the subscribers and those individuals who shall subsequently become
shareholders, there exists a public limited company (société anonyme) operating in the form of an Investment Company
with Variable Capital (SICAV) under the name NEXT AM Fund (hereinafter the "Company"). The Company is established
pursuant to the Luxembourg law of 17 December 2010 relating to Undertakings for collective investment (the "2010
Law").
Art. 2. Duration. The Company has been established for an indefinite term. It may be dissolved by decision of the
General Meeting of the shareholders ruling as for an amendment to the Articles of Incorporation pursuant to Article 29
below.
Art. 3. Object. The exclusive object of the Company is to invest the funds that it has available in transferable securities,
in money market instruments and in all eligible assets, with the aim of spreading the investment risks and of enabling the
shareholders to profit from the results of the management of its portfolio.
In a general manner, the Company may take all measures and carry out all transactions that it deems useful in order
to achieve its object, while remaining within the limits specified by the 2010 Law.
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Art. 4. Registered office. The Registered Office is established in Hesperange, in the Grand Duchy of Luxembourg. The
Registered Office may be transferred to any other commune in the Grand Duchy of Luxembourg by decision of the Board
of Directors of the Company.
The Company may, upon a decision by the Board of Directors, create subsidiaries, branches, agencies and offices either
in the Grand Duchy of Luxembourg or abroad.
In the event that the Board of Directors considers that extraordinary political events of a type that could compromise
the normal activity at the registered office, easy communication with that registered office, or communication by that
registered office abroad have occurred or are imminent, it may temporarily transfer the registered office abroad until the
complete cessation of those extraordinary circumstances; this provisional measure shall have no effect on the nationality
of the Company which, notwithstanding such temporary transfer of its registered office, shall remain Luxembourgish.
Art. 5. Share capital, Sub-funds of assets, Categories and Classes of shares. The initial share capital stands at EUR
31,000 divided into thirty-one (31) capitalisation shares (of no par value). The shares have been fully paid up via a cash
contribution. The capital of the Company shall be represented by fully paid-up shares of no par value and shall at any time
be equal to the total net assets contained in all of the Company's sub-fund combined, as defined in Article 11 hereof.
The Company's minimum capital shall be equal at all times to the minimum established by current regulations,, i.e. one
million two hundred fifty thousand Euro (EUR 1,250,000), which minimum must be reached within a period of six (6)
months following the authorisation of the Company.
Provided one or more sub-funds hold securities issued by one or more other sub-funds of the same Company, they
will not be taken into consideration for the calculation of the net assets of the Company for the purposes of verifying the
minimum capital.
In accordance with Article 7 herein, the Board of Directors is authorized without limitation to issue fully paid shares
at any time or at the respective Net Asset Values per share determined in accordance with Article 11 herein without
reserving to the existing shareholders a preferential right to subscription of the shares to be issued. The Board of Directors
may delegate to any duly authorized Director or officer of the Company or to any other duly authorized person, the
duty of accepting subscriptions and/or delivering and receiving payment for such new shares, remaining always within the
limits imposed by the law.
Such shares may, at the Board of Directors' discretion, belong to different categories corresponding to separate sub-
funds of the Company's assets. The income from any issue of shares in a given category shall be invested pursuant to
Article 3 herein in various transferable securities and other assets in the sub-fund corresponding to this share category,
depending on the investment policy established by the Board of Directors for the sub-fund in question, subject to the
investment restrictions set forth by current laws and regulations as well as those restrictions adopted by the Board of
Directors itself.
Within each Sub-Fund (having a specific investment policy), further classes of shares having specific sale, redemption
or distribution charges and specific income distribution policies or any other features may be created as the Board of
Directors may from time to time determine and as disclosed in the sales documents of the Company.
The Board of Directors may decide to create capitalisation and distribution share classes, as well as share classes
whose characteristics are described in the Company's sales documents.
A distribution share is a share which, in principle, gives the shareholder the right to receive a cash dividend.
A capitalisation share is a share which, in principle, does not give the shareholder the right to receive a dividend.
The different asset classes offer the same rights to all of their respective shareholders, particularly in terms of voting
rights at General Shareholders' Meetings. Under the terms of Article 6, voting rights may only be exercised for a whole
number of shares.
The different Sub-Funds and/or classes of shares may be denominated in different currencies to be determined by the
Board of Directors provided that for the purpose of determining the capital of the Company, the net assets attributable
to each Sub-Fund and/or class shall, if not denominated in EUR, be converted into EUR and the capital shall be the aggregate
of the net assets of all the classes. The Company shall prepare consolidated accounts in EUR.
The general meeting of holders of shares of a Sub-Fund and/or a class, deciding in accordance with the quorum and
majority requirements referred to in Article 29 herein, may reduce the capital of the Company by cancellation of the
shares of such Sub-Fund and/or class and refund to the holders of shares of such Sub-Fund and/or class the full Net Asset
Value of the shares of such Sub-Fund and/or class as at the date of distribution.
The Board of Directors may decide the reorganization of one class of shares, by means of a division into two or more
classes in the Company or in another Luxembourg undertaking for collective investment registered under Part I of the
2010 Law. Such decision will be published in the same manner as described in Article 27. B. and the publication will contain
information in relation to the two or more new classes.
Art. 6. Form of shares. The Board of Directors shall decide, for each Sub-Fund, to issue bearer shares or registered
shares, dematerialised.
All registered shares issued by the Company shall be recorded at the shareholder register that shall be maintained by
the Company or by one or more entities so designated by the Company; such recording must indicate the name of each
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owner of shares, his/her address or chosen place of residence, and the number of registered shares he/she holds. The
records in the shareholder register may be attested through the issue of registered share confirmations
The Company recognizes only one single owner per share. If one or more shares are jointly owned or if the ownership
of such share(s) is disputed, all persons claiming a right to such share(s) have to appoint one single attorney to represent
such share(s) towards the Company. The failure to appoint such attorney implies a suspension of all rights attached to
such share(s).
Upon decision by the Board of Directors, any fractions of shares up to five (5) decimal places may be issued for
registered shares or for bearer shares that shall be entered into the accounts to the credit of the share account of the
shareholder at the Custodian Bank or the correspondent banks or the Transfert Agent providing the financial service for
the shares of the Company. For each Sub-Fund the Board of Directors shall limit the number of decimal places that shall
appear in the prospectus.
Fractions of shares shall not have any voting rights but shall provide a right to net assets of the Sub-Fund concerned
in relation to the portion represented by those fractions.
Within the limits and conditions fixed by the Board of Directors, bearer shares may be converted into registered
shares and vice versa.
Art. 7. Issue and Redemption methods. The Board of Directors is authorised, at any time and without limitation, to
issue new fully paid-up shares without providing existing shareholders with any priority right to the allocation of the
shares to be issued. Every shareholder has the right, at any time, to request the redemption of his/her shares under the
conditions and limits fixed by the current Articles of Incorporation and by the law.
Capital variations shall be effected ipso jure and without compliance with measures regarding publication and entry in
the commercial and company register prescribed for increases and decreases of capital of public limited companies.
The redemption of shares may be suspended pursuant to the provisions of Article 12 below.
The issue and redemption of shares, whatever the sub-fund the shares belong in, shall be effected on the basis of the
net asset value as defined in Article 11 below; these prices may, depending on the case, include or exclude the costs and
the commissions stipulated by the Board of Directors.
The Board of Directors may, at any time, suspend or interrupt the issue of shares of a Sub-fund, category or class of
shares of the Company.
In the event of a share issue, the issue price must be settled within five (5) working days after the Valuation Day. In
the event this rule is not complied with, the Company may cancel the issue while retaining the right to seek the costs
and commissions that may be due. In the event of a redemption of shares, the payment of the price for such redemption
shall be made within five (5) working days following the Valuation Day.
In addition, a dilution levy may be imposed on deals as specified in the sales documents of the Company. Such dilution
levy should not exceed a certain percentage of the Net Asset Value determined from time to time by the Board of
Directors and disclosed in the sales documents of the Company. This dilution levy will be calculated taking into account
the estimated costs, expenses and potential impact on security prices that may be incurred to meet purchase and re-
demption requests.
The Company may agree to issue shares against a contribution of securities, as for example in the case of merger with
an external Sub-Fund, to the extent that these securities comply with the objectives and the investment policy of the Sub-
Fund in question and also comply with the provisions of Luxembourg law, with the liability to submit a valuation report
prepared by the External Auditor approved by the Company and which is available for consultation. All the costs con-
nected with the contribution of securities shall be borne by the shareholders in question.
Under exceptional circumstances that may have a negative affect on the interests of the shareholders, or in the event
of significant requests for redemption, the Company reserves the right not to fix the value of the shares until after the
execution of the purchases and sales of securities required, and to proceed with the redemption pursuant to the provisions
contained in the sale documents.
The net value of each share as well as the issue price and the redemption price at the Valuation Day shall be available
from the Company and the establishments charged with recording requests for allocation and redemption. The Board of
Directors shall decide, inter alia, which newspapers in which countries shall publish in particular the net value, as well as
the frequency of such publications.
The Company may, with the express written agreement of the shareholders concerned, and if the principle of their
equal treatment is respected, proceed with the redemption of its shares, in total or in part, for a payment pursuant to
the conditions stipulated by the Company (including, without limitation, the presentation of an independent valuation
report from the auditor of the Company).
Art. 8. Conversion methods. Except for specific restrictions decided by the Board of Directors and indicated in the
sale documents, every shareholder is authorised to request conversion within the framework of a single sub-fund or
between sub-funds of all or part of his shares of a single category and/or class of shares into shares of another category/
class.
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The price for the conversion of shares shall be calculated using the net asset value of the two sub-funds, categories
and/or classes of shares in question, calculated on the same Valuation Day and taking into account the standard charges
for the sub-funds, categories and/or classes of shares in question.
The Board of Directors may impose restrictions it considers necessary, in particular regarding the frequency, the
methods and the conditions of conversions, and it may subject them to payment of fees and charges that it calculates.
In the event a conversion of shares shall result in a reduction in the number or the net asset value of the shares that
a shareholder holds in one category of shares defined below by a number or value defined by the Board of Directors,
the Company may oblige that shareholder to convert all the shares within the framework of that category.
Shares that have been converted shall be cancelled.
Requests for conversions may be suspended under the conditions and methods pursuant to Article 12.
Art. 9. Restrictions on ownership of shares. The Board of Directors may, at any time, at its own discretion and without
the need for justification:
- refuse any allocation of shares;
- redeem at any time shares of the Company illegitimately allocated or held.
Requests for allocation or redemption of shares may be made at establishments designated by the Company.
More specifically, the Company may restrict or prevent the ownership of shares in the Company by any person, firm
or corporate body, and without limitation, by any "U.S. person", as defined hereafter.
For such purposes the Company may:
a) decline to issue any share or to register any transfer of any share where it appears to it that such registration would
or might result in such share being directly or beneficially owned by a person, who is precluded from holding shares in
the Company;
b) at any time require any person whose name is entered in the Register of Shareholders to furnish it with any
information, supported by affidavit, which it may consider necessary for the purpose of determining whether or not
beneficial ownership of such shareholder's share rests or will rest in a person who is precluded from holding shares in
the Company; and
c) where it appears to the Company that any person, who is precluded from holding shares or a certain proportion
of the shares in the Company, either alone or in conjunction with any other person is beneficial owner of shares, com-
pulsorily redeem from any such shareholder all or part of shares held by such shareholder in the following manner:
(1) The Company shall serve a notice (hereinafter called the "redemption notice") upon the shareholder holding such
shares or appearing in the Register of Shareholders as the owner of the shares to be redeemed, specifying the shares to
be redeemed as aforesaid, the price to be paid for such shares, and the place at which the redemption price in respect
of such share is payable. Any such notice may be served upon such shareholder by posting the same in a prepaid registered
envelope addressed to such shareholder at his last address known to or appearing in the books of the Company. Imme-
diately after the close of business on the date specified in the redemption notice, such shareholder shall cease to be a
shareholder and the shares previously held or owned by him shall be cancelled;
(2) The price at which the shares specified in any redemption notice shall be redeemed (herein called "the redemption
price") shall be an amount equal to the per share Net Asset Value of shares in the Company of the relevant class,
determined in accordance with Article 11 herein;
(3) Payment of the redemption price will be made to the shareholder appearing as the owner thereof in the currency
of denomination for the relevant class of shares and will be deposited by the Company with a bank in Luxembourg or
elsewhere (as specified in the redemption notice) for payment to such person. Upon deposit of such price as aforesaid
no person interested in the shares specified in such redemption notice shall have any further interest in such shares or
any of them, or any claim against the Company or its assets in respect thereof, except the right of the shareholder
appearing as the owner thereof to receive the price so deposited (without interest) from such bank as aforesaid.
(4) The exercise by the Company of the powers conferred by this Article shall not be questioned or invalidated in any
case, on the ground that there was insufficient evidence of ownership of shares by any person or that the true ownership
of any shares was otherwise than appeared to the Company at the date of any redemption notice, provided that in such
case the said powers were exercised by the Company in good faith; and
d) decline to accept the vote of any person who is precluded from holding shares in the Company at any meeting of
shareholders of the Company.
Whenever used in these Articles, the term "U.S. person" shall have the same meaning as in Regulation S, as amended
from time to time, of the United States Securities Act of 1933, as amended (the "1933 Act") or as in any other regulation
or act which shall come into force within the United States of America and which shall in the future replace Regulation
S of the 1933 Act. The Board of Directors shall define the word "U.S. person" on the basis of these provisions and publicise
this definition in the sales documents of the Company.
The Board of Directors may, from time to time, amend or clarify the aforesaid meaning.
In addition to the foregoing, the Board of Directors may restrict the issue and transfer of shares of a class to institutional
investors within the meaning of Article 174 of the Law of 17 December 2010 ("Institutional Investor(s)"), as may be
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amended from time to time. The Board of Directors may, at its discretion, delay the acceptance of any subscription
application for shares of a class reserved for Institutional Investors until such time as the Company has received sufficient
evidence that the applicant qualifies as an Institutional Investor. If it appears at any time that a holder of shares of a class
reserved to Institutional Investors is not an Institutional Investor, the Board of Directors will convert the relevant shares
into shares of a class which is not restricted to Institutional Investors (provided that there exists such a class with similar
characteristics) and which is essentially identical to the restricted class in terms of its investment object (but, for avoidance
of doubt, not necessarily in terms of the fees and expenses payable by such class), unless such holding is the result of an
error of the Company or its agents, or the Board of Directors will compulsorily redeem the relevant shares in accordance
with the provisions set out in this Article. The Board of Directors will refuse to give effect to any transfer of shares and
consequently refuse any transfer of shares to be entered into the Register of Shareholders in circumstances where such
transfer would result in a situation where shares of a class restricted to Institutional Investors would, upon such transfer,
be held by a person not qualifying as an Institutional Investor.
In addition to any liability under applicable law, each shareholder who does not qualify as an Institutional Investor, and
who holds shares in a class restricted to Institutional Investors, shall hold harmless and indemnify the Company, the Board
of Directors, the other shareholders of the relevant class and the Company's agents for any damages, losses and expenses
resulting from or connected to such holding, in circumstances where the relevant shareholder had furnished misleading
or untrue documentation or had made misleading or untrue representations to wrongfully establish its status as an
Institutional Investor or has failed to notify the Company of its loss of such status.
Art. 10. Creation and Closure of sub-funds. All decisions relating to the creation or closure of a sub-fund shall be made
by the Board of Directors. The Board of Directors may, should the need arise, submit the case to the General Meeting
of Shareholders to deliberate.
Art. 11. Net asset value. The net asset value per share of each sub-fund, category or class of shares of the Company
as well as the issue and redemption prices shall be defined by the Company at a frequency to be stipulated by the Board
of Directors, however at least twice a month.
The accounts of each sub-fund or category or class of shares shall be held separately. The net asset value shall be
calculated for each sub-fund or category or class of shares and shall be expressed in the reference currency. The net
asset value of the shares of each sub-fund or category or class of shares shall be defined by dividing the net assets of each
sub-fund or category or class of shares by the total number of shares of each sub-fund or category or class of shares in
circulation. The net assets of each sub-fund or category or class of shares correspond to the difference between the
assets and the liabilities of each of the sub-funds or categories or class of shares.
The day on which the net asset value shall be defined is stipulated in the present Articles of Incorporation as the
"Valuation Day".
The Board of Directors of the Company shall establish separate pool of net assets for each sub-fund. In contacts among
the shareholders, this pool shall be attributed only to the shares issued in respect to the sub-fund in question, taking
account, if applicable of the distribution of this pool between the different categories and/or classes of shares of that sub-
fund.
In respect to third parties, and notwithstanding Article 2093 of the Civil Code, the assets of one defined sub-fund only
cover the debts, commitments and liabilities relating to that sub-fund.
The valuation of the assets and liabilities of each sub-fund of the Company shall be performed pursuant to the following
principles.
In order to establish separate pools of assets corresponding to a sub-fund or to two or more categories and/or classes
of shares of a given sub-fund, the following rules shall apply:
a) If two or more categories/classes of shares relate to a single defined sub-fund, the assets attributed to those cate-
gories and/or classes of shares shall be invested together pursuant to the investment policy of the sub-fund in question,
subject to the specific conditions applying to those categories and/or classes of shares;
b) The proceeds resulting from an issue of shares relating to a single category and/or class of shares shall be attributed
in the books of the Company to the sub-fund that offers that category and/or class of shares, on the understanding that
if more than one category and/or class of shares are issued in relation to that sub-fund, the corresponding value shall
increase the proportion of the net assets of that sub-fund attributable to the category and/or class of shares to be issued;
c) The assets, liabilities, revenues and costs relating to a sub-fund shall be attributed to the category(ies) and/or class
(es) of shares corresponding to that sub-fund;
d) In the event one asset results from another asset, that asset shall be attributed, in the books of the Company, to
the same sub-fund or the same category and/or class of shares to which the asset from which it results belongs, and for
each new valuation of an asset, the increase or the decrease in the value shall be attributed to the corresponding sub-
fund or the category and/or class of shares;
e) If the Company has a liability that is attributable to an asset of a defined sub-fund or a category and/or class of shares,
or to an operation performed in relation to an asset of a defined sub-fund or a category and/or class of shares, that liability
shall be attributed to that sub-fund or category and/or class of shares;
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f) In the event an asset or a liability of the Company cannot be attributed to a defined sub-fund, that asset or liability
shall be attributed to all the sub-funds in proportion to the net asset value of the categories and/or classes of shares in
question or in another manner that the Board of Directors shall determine in good faith;
g) After distributions made to the holders of shares of one category and/or class, the net asset value of that category
and/or class of shares shall be reduced by the value of those distributions.
The valuation of assets and liabilities of each sub-fund of the Company shall be performed, unless given otherwise in
the Prospectus, according to the following principles:
a) The value of the cash in hand or deposits, securities and bills payable on demand, advance payments, dividends and
interests that have fallen due but are not yet collected, shall be calculated using the nominal value of those assets, unless
it appears improbable that the asset in question can be collected. In such a case, the value shall be defined with the
deduction of a specific amount that appears reasonable in order to reflect the real value of those assets;
b) The valuation of securities officially listed or negotiated on a regulated market that is functioning normally, recognised
and open to the public, is based on the last rate known and if that security is traded on more than one market, based on
the last rate known on the principle market for that security. If the last rate known is not representative, the valuation
shall be based on the probable sale value estimated using the principles of prudence and good faith;
c) Securities that are not quoted or are not negotiable on a stock market or on a regulated market, functioning normally,
recognised and open to the public, shall be valued on the basis of the probable sale value estimated using the principles
of prudence and good faith;
d) Securities expressed in a different currency than that of the sub-fund in question shall be converted using the last
exchange rate known;
e) The liquidation value of futures contracts and option contracts that are not negotiated on regulated markets shall
equal their net liquidation value defined pursuant to the policies established by the Board of Directors, on a basis applied
coherently for each type of contract. The liquidation value of futures contracts or option contracts negotiated on regulated
markets shall be based on the last available settlement price for these contracts on the regulated markets on which these
futures contracts or option contracts are negotiated by the Company; in the event a futures contract or option contract
cannot be liquidated on the day on which the net assets are evaluated, the base that shall be used to determine the
liquidation value of that contract shall be defined by the Board of Directors in a fair and reasonable manner;
f) The Board of Directors may authorise the use of amortised cost method of valuation for short-term transferable
debt securities in certain sub-funds. This method involves valuing a security at its cost and thereafter assuming a constant
amortisation to maturity of any discount or premium regardless of the impact of fluctuating interest rates on the market
value of the security or other instrument. While this method provides certainty in valuation, it may result in periods
during which value as determined by amortised cost, is higher or lower than the price the sub-fund would receive if it
sold the securities. This method of valuation will only be used in accordance with ESMA guidelines concerning eligible
assets for investments by UCITS and only with respect to securities with a maturity at issuance or residual term to
maturity of 397 days or less or securities that undergo regular yield adjustments at least every 397 days
g) Units of UCITS and/or other UCI shall be valued at their last known net asset value per share;
h) Interest rate swaps shall be valued at their market value established by reference to the applicable rate curve. Swaps
on financial indexes or instruments shall be valued at their market value established by reference to the financial index
or instrument in question. The valuation of the swap contracts relative to the financial indexes or instruments shall be
based on the market value of these swap operations according to the procedures established by the Board of Directors;
i) All other securities and assets shall be valued at their market value defined in good faith, in compliance with the
procedures established by the Board of Directors;
j) All other holdings shall be valued on the basis of their probable realisation value, which must be estimated with
prudence and in good faith.
The appropriate deductions shall be performed for the costs incurred by the Company, by each sub-fund or by each
category and/or class of shares, calculated on a regular base, and any eventual liabilities of the Company, of each sub-fund
and of each category and/or class of shares shall be taken into account by a fair valuation.
The appropriate deductions shall be made for the expenditure incurred by the Company and the liabilities of the
Company shall be taken into consideration according to fair and prudent criteria. The Company shall bear the totality of
the operating costs anticipated in its Prospectus and/or by contract. The Company shall be instructed to pay remuneration
provided to external operators, to the Custodian Bank and, should the need arise, those of the correspondents, com-
mission for the Administrative and Financial Agent; the costs and fees of the External Auditor; the costs of publication
and for informing the shareholders, in particular the costs of printing and distributing the prospectus and the periodical
reports; the costs of necessary procedures for the establishment of the Company, for its introduction into the stock
market and for its approval by the relevant authorities; the brokerage and commissions arising from the transactions on
the securities in the portfolio; all the taxes and duties that may be due on its revenues; the subscription price as well as
the fees due to the supervisory authorities, the costs arising from the distribution of dividends; the costs of consultation
and other costs of extraordinary measures, in particular the expert valuations or lawsuits with the aim of safeguarding
the interests of the shareholders; the annual duties for listing on the stock market.
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In addition, all reasonable expenditure and advance payments, including, without this list being in any way exhaustive,
costs for telephone, telex, telegram and postage incurred by the Custodian Bank from purchases and sales of securities
in the portfolio of the Company, shall be borne by the Company.
This remuneration also includes that relating to the functions of the recording agent of the Company. As paying agent,
the Custodian Bank may apply its normal commission in relation to the payment of the dividends by the Company.
Art. 12. Suspension of the calculation of the net asset value and Issue and Redemption of shares. Irrespective of the
legal causes of suspension, the Company may at any moment suspend the valuation of the net value of the shares in a
sub-fund, a category or class of shares of the Company as well as the issue and redemption and conversion of these shares
in the following cases:
(a) during any period when any of the principal stock exchanges or any other regulated market on which any substantial
portion of the Company's investments of the relevant class for the time being are quoted, is closed or during which
dealings are restricted or suspended;
(b) during the existence of any state of affairs which constitutes an emergency as a result of which disposal or valuation
of investments of the relevant class by the Company is impracticable;
(c) during any breakdown in the means of communication normally employed in determining the price or value of any
of the Company's investments or the current prices or values on any market or stock exchange;
(d) during any period when the Company is unable to repatriate funds for the purpose of making payments on the
redemption of such shares or during which any transfer of funds involved in the realisation or acquisition of investments
or payments due on redemption of such shares cannot in the opinion of the Board of Directors be effected at normal
rates of exchange;
(e) further to the publication of a convening notice to a general meeting of shareholders in order to resolve the winding
up or the liquidation of the Company;
(f) if the Board of Directors has determined that there has been a material change in the valuations of a substantial
proportion of the investments of the Company attributable to a particular class of shares in the preparation or use of a
valuation or the carrying out of a later or subsequent valuation;
(g) during any other circumstance or circumstances where a failure to do so might result in the Company or its
shareholders incurring any liability to taxation or suffering other pecuniary disadvantages or any other detriment which
the Company or its shareholders might so otherwise have suffered;
(h) when a Sub-Fund merges with another sub-fund or with another UCITS (or a Sub-Fund of such other UCITS)
provided any such suspension is justified by the protection of the Shareholders; and/or
(i) when a class of shares or a sub-fund is a Feeder of another UCITS, if the net asset value calculation of the Master
UCITS or sub-fund or class of shares is suspended.
In the absence of bad faith, grave negligence and clear error, any decision taken by the Board of Directors or by a
person delegated by the Board of Directors in relation to the calculation of the net asset value, shall be definitive and
obligatory for the Company as well as for the shareholders.
Any such suspension shall be published, if appropriate, by the Company and be notified to shareholders having made
an application for subscription, redemption or conversion of shares for which the calculation of the net asset value has
been suspended.
Such suspension as to any Sub-Fund, category and/or class of shares shall have no effect on the calculation of the net
asset value per share, the issuance, redemption and conversion of shares of any other Sub-Fund, category and/or class of
shares.
Art. 13. General meetings of shareholders. The Ordinary General Meeting of Shareholders of the Company shall
represent all the shareholders of the Company. It shall enjoy the greatest powers for ordering, performing or ratifying
all acts relating to the operations of the Company.
The Annual General Meeting of Shareholders shall be held in Luxembourg at the registered office of the Company or
at any other location in the Grand Duchy of Luxembourg that shall be stipulated in the convocation, the third Tuesday
of May at 03.00 pm. In the event that this day is a public holiday or a bank holiday in Luxembourg, the Annual General
Meeting shall be held the first subsequent day that banks are open. The Annual General Meeting may be held abroad if
the Board of Directors states without appeal that exceptional circumstances require such a move.
The convocation indicates the place and the practical arrangements for providing the annual accounts, the report of
the approved statutory auditor, and the management report (if applicable) to the shareholders and specifies that each
shareholder may request that the annual accounts, the report of the approved statutory auditor and the management
report (if applicable) are sent to him.
Decisions concerning the general interests of the shareholders of the Company shall be taken during a General Meeting
of the Shareholders and the decisions concerning specific rights of shareholders of a sub-fund or of a category/class of
shares shall be taken during a General Meeting of the Shareholders of that subfund or that category/class of shares.
The quorums and delays required by law shall regulate the convocations and the course of the General Meetings of
Shareholders of the Company wherever these are not specified in the present Articles of Incorporation.
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Other general meetings may be held at such time and place as decided by the Board of Directors.
In order to be admitted into the General Meeting, every security holder must deposit his bearer securities five working
days before the date fixed for the General Meeting, at the registered office or at establishments designated in the con-
vocation.
The owners of registered shares must, within the same deadline, inform the Board of Directors in writing (letter or
proxy) of their intention to participate in the General Meeting and must indicate the number of securities for which they
intend to participate in the voting.
Any share of any sub-fund, category or class, whatever its value, provides the right to a single vote.
Every shareholder may take part in General Meetings of Shareholders appointing another person in writing as proxy
or by telefax message or any other electronic means capable of evidencing such proxy, who cannot themselves be a
shareholder. Such proxy shall be deemed valid, provided that it is not revoked, for any reconvened shareholders' meeting.
Except as otherwise required by law or as otherwise provided herein, resolutions at a meeting of shareholders or at
a class meeting duly convened will be passed by a simple majority of the votes cast. Votes cast shall not include votes in
relation to shares in respect of which the shareholders have not taken part in the vote or have abstained or have returned
a blank or invalid vote. A shareholder who is a corporation may execute a proxy under the hand of a duly authorized
officer.
The Board of Directors may determine any other conditions to be complied with by the shareholders in order to take
part in the General Meeting.
Shareholders will meet upon call by the Board of Directors pursuant to convocation setting forth the agenda sent, in
accordance with the applicable laws and regulations, to the shareholder's address in the Register of Shareholders.
If and to the extent required by Luxembourg law, the convocation shall, in addition, be published in the Mémorial,
Recueil des Sociétés et Associations of Luxembourg, in a Luxembourg newspaper and in such other newspapers as the
Board of Directors may decide.
If, however, all of the shareholders are present or represented at a meeting of shareholders, and if they state that they
have been informed of the agenda of the meeting, the meeting may be held without prior notice or publication.
The General Meeting of Shareholders may only address the items contained in the agenda.
Following conditions set forth in Luxembourg laws and regulations, the convocation to any general meeting of share-
holders may specify that the quorum and the majority applicable for this general meeting will be determined by reference
to the shares issued and in circulation at a certain date and time preceding the general meeting (referred to as "Record
Date"). The rights of a shareholder to attend a general meeting of shareholders and to exercise a voting right attaching
to his/its/her shares will be determined by reference to the shares held by this shareholder at the Record Date.
Art. 14. Board members. The Company shall be administered by a Board of Directors composed of at least three
members; the members of the Board of Directors do not need to be shareholders of the Company.
If a legal entity is appointed as a board member, it may designate a natural person through which it shall exercise the
functions of board member. In this regard, third parties shall not be able to demand justification for his powers -the simple
indication of the quality of the representative or delegate of the legal entity being sufficient.
The board members are elected by the General Meeting of the Shareholders for a maximum period of six years. They
may be re-elected.
The mandate of departing board members who have not been re-elected shall cease immediately after the General
Meeting.
Any board member may be dismissed with or without reason, or may be replaced at any moment by decision of the
General Meeting of the Shareholders.
The board members proposed for election and whose names appear in the agenda of the annual General Meeting shall
be elected by a majority of the shares present or represented and voting.
In the event a position of board member becomes vacant as the result of a death, resignation or otherwise, the
remaining board members may elect, with a majority of votes, another board member temporarily to perform the func-
tions attached to the position that has become vacant until the next General Meeting of Shareholders.
Art. 15. Chairmanship and Meeting of the board of directors. The Board of Directors shall choose a chairman from
among its members and may elect from its members one or more vice-chairmen. It may also appoint a secretary or
officers, while these do not need to be board members.
The Board of Directors shall meet upon convocation from the chairman or two board members, at the location, on
the date and at the time indicated in the convocation. The written notice of any meeting of the Board of Directors shall
be served on all the board members at least twenty-four (24) hours before the date provided for the meeting unless it
is urgent, in which case the nature and the reasons for that urgency shall be indicated in the notice of convocation. That
convocation may be waived with the consent of each board member in writing by telegram, telex, fax, e-mail or any other
similar means of communication. A special convocation shall not be required for a meeting of the Board of Directors
being held at a time and place determined in a resolution passed in advance by the Board of Directors.
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Each of the board members may act at any meeting of the Board of Directors by appointing another board member
as his proxy, in writing, by telegram, telex fax or e-mail, or by another similar means of telecommunication permitting
the identification of such Director. However, no board member may represent more than one of his colleagues.
Any board member may take part in a meeting of the Board of Directors by telephone or video conference or by
using other means of communication when all the persons taking part in that meeting may hear or see each other. Taking
part in a meeting in this way shall be the same as attending such a meeting in person at the registered office of the
Company. Directors may also cast their vote in writing or by cable, telegram, telex, telefax or e-mail message or any
other electronic means capable of evidencing such vote.
The Board of Directors meets under the chairmanship of its chairman or, in the event of his absence, its vice-chairman
if there is one, if not then by a delegated board member if there is one, or if not then by a board member.
The Board of Directors may only meet and act if at least two board members are present or represented. Decisions
are taken with the majority of votes of the board members present or represented. For the calculation of quorum and
majority, the Directors participating at the Board by video conference or by telecommunication means permitting their
identification are deemed to be present. In the event that, at a meeting of the Board of Directors, there is the same
number of votes for and against a decision, the vote of the person chairing the Board of Directors shall prevail.
Irrespective of the provisions above, a decision by the Board of Directors may also be taken by circular. Such a decision
shall have the approval of all the board members whose signatures are applied either on a single document or on multiple
copies of it or by telex, cable, telegram, telefax or e-mail message or by telephone provided in such latter event such vote
is confirmed in writing. The entirety will form the minutes giving evidence of the resolution.
Such a decision shall have the same validity and the same force as if it was taken during a meeting of the Board of
Directors called and held in the normal way.
The minutes of meetings of the Board of Directors shall be signed by the chairman, by the vice-chairman, by the
delegated board member or by the board member who has assumed the chairmanship in his absence, or by two board
members of the Company. Copies or extracts of the minutes intended to be used in court or otherwise shall be signed
by the chairman, or by the secretary, or by two board members, or by any person authorised by the Board of Directors.
Art. 16. Powers of the board of directors. The Board of Directors has the widest powers to carry out all administrative
acts or measures in the interests of the Company. All powers not expressly reserved for the General Meeting by the law
or by these Articles of Incorporation shall be within the competency of the Board of Directors.
The Board of Directors, applying the principle of spreading risk, has the power to stipulate the general direction of
the management and the investment policy as well as the course of action to be followed in the administration of the
Company.
Art. 17. Investment policy. The Board of Directors, applying the principle of spreading risk, has the power to stipulate
the investment policy of each sub-fund as well as the course of action to follow in the administration of the Company.
The Board of Directors shall also determine any restrictions which shall from time to time be applicable to the investments
of the Company, in accordance with Part I of the 2010 Law, including, without limitation, restrictions in respect of:
a) the borrowings of the Company and the pledging of its assets;
b) the maximum percentage of its assets which it may invest in any form or class of security and the maximum per-
centage of any form or class of security which it may acquire.
A. In order to achieve this, the Board of Directors may decide to place its assets in:
1) Transferable securities and money market instruments admitted to or dealt in on a regulated market within the
meaning of the directive 2004/39/EC.
2) Transferable securities and money market instruments dealt in on another market of a European Union (hereinafter
only the "EU") Member State which is regulated, operates regularly and, is open to the public.
3) Transferable securities and money market instruments admitted to official listing on a stock exchange in the EU or
dealt in on another market in a non-Member State of the EU which is regulated, operates regularly and is recognised and
open to the public in any other country in Eastern and Western Europe, the American continent, Asia, Oceania and
Africa.
4) Transferable securities and money market instruments newly issued, provided that:
- The terms governing the issue include the provision that application shall be made for official listing on a stock
exchange, or on another regulated market which operates regularly, and is recognized and open to the public; and
- such listing is secured within one (1) year of issue.
5) Shares of the UCITS and/or other UCIs in the sense of Article 1, paragraph (2), points a) and b) of Directive 2009/65/
EC, whether or not established in a Member State of the EU, provided that:
- Such other UCIs are authorized under laws which provide that they are subject to supervision considered by the
Regulatory Authority to be equivalent to that laid down in EU law, and that the cooperation between authorities is
sufficiently guaranteed;
- The level of protection of shareholders in the other UCIs is equivalent to the level of protection of shareholders of
a UCITS and in particular the provisions for separate management of the Company's assets, borrowing, credit allocation
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and short selling of securities and money market instruments are equivalent to the requirements of the Directive 2009/65/
EC;
- That the business activity of the other UCIis subject to semi-annual and annual reports that permit an valuation of
the assets and the liabilities, the profits and the operations in the period in question;
- The proportion of assets of UCITS or of these other UCIs regarding which the acquisition is being considered and
which may be invested globally in shares of other UCITS or of other UCIs pursuant to their articles of incorporation,
does not exceed 10%.
6) Sight deposits or callable deposits with a maximum term of twelve (12) months with credit institutions, provided
the credit institution in question has its registered office in EU Member State, or if the registered office of the credit
institution is in a third state, provided it is subject to supervisory provisions that the CSSF holds to be equivalent to those
of EU Law. .
7) Financial derivative instruments, including similar instruments giving rise to a settlement in cash, which are traded
on a regulated market of the type referred to in points (1), (2) and (3) above, and/or financial derivatives instruments
traded overthe-counter ("over-the-counter derivatives"), provided that:
- the underlying assets are instruments within the meaning of this section title A, financial indices, interest rates, foreign
exchange rates or currencies, in which the Company may invest according to its investment objectives;
- with regard to transactions involving OTC derivatives, the counterparts are institutions from categories subject to
official supervision which is approved by Luxembourg supervisory authorities; and
- the OTC derivatives are subject to reliable and examinable valuation on a daily basis and can at an appropriate time
on the initiative of the Company be disposed of, liquidated or realised by a counter-transaction at any time at their fair
value; In no case will these operations lead the Company to depart from its investment objectives.
In particular, the Company may intervene in transactions relating to options, future contracts on financial instruments
and options on such contracts.
8) Money-market instruments, that are not traded on a regulated market, provided the issue or the issuer of such
instruments are subject to provisions concerning deposits and investor protection, and provided they are:
- issued or guaranteed by a central state, regional or local body or central bank of an EU Member State, the European
Central Bank, the EU or the European Investment Bank, a third state or in the case of a federal state, a Member state of
the federation, or an international public law institution, which at least belongs to a Member State of the EU; or
- issued by a company the securities of which are traded on the regulated markets indicated in points 1), 2) and 3)
above; or
- issued or guaranteed by an establishment subject to prudential supervision pursuant to the criteria defined by EU
law, or by an establishment which is subject to and abides by prudential rules considered by the CSSF to be at least as
strict as those imposed by EU legislation; or
- issued by other issues which belong to a category approved by the CSSF, provided that for the investments in these
instruments there are provisions for investor protection which are equivalent to the first, second or third point and
provided that the issuer is either a with equity capital and reserves of at least ten million euros (EUR 10,000,000), which
draws up and publishes its annual reports in accordance the provisions of the Directive 78/660/EEC, or a legal entity
which, within a group of companies with one or more stock market listed companies, is responsible for the financing of
the group, or a legal entity where the security is backing of liabilities will be financed by use of a line of credit granted by
a bank.
B. Moreover, the Company may for each sub-fund:
- invest up to 10% of the net assets of the sub-fund in transferable securities or money market instruments other than
those referred to in A (1) to (4) and (8).
- retain, as collateral, liquid assets and other instruments convertible into liquid.
- borrow up to 10% of the net assets of the sub-fund , insofar as these are temporary borrowings. Commitments in
relation to option contracts, purchases and sales of futures contracts are not considered borrowing for the calculation
of the investment limit.
- acquire currency through type of face-to face loan.
C. The Company may acquire movable and immovable property which is essential for the direct pursuit of its business.
D. Moreover, a sub-fund of the Company may subscribe, acquire and/or hold securities to be issued or issued by one
or more other sub-funds of the Company, in accordance with the provisions set forth in the sales documents of the
Company and with the restrictions set forth in the 2010 Law.
E. Under the conditions set forth in Luxembourg laws and regulations, the Board of Directors may, at any time it
deems appropriate and to the widest extent permitted by applicable Luxembourg laws and regulations, but in accordance
with the provisions set forth in the sales documents of the Company:
(i) create any sub-fund and/or class of shares qualifying either as a feeder UCITS or as a master UCITS,
(ii) convert any existing sub-fund and/or class of shares into a feeder UCITS sub-fund and/or class of shares or
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(iii) change the master UCITS of any of its feeder UCITS sub-fund and/or class of shares. By way of derogation from
Article 46 of the 2010 Law, the Company or any of its sub-funds which acts as a feeder (the "Feeder") of a master-fund
shall invest at least 85% of its assets in another UCITS or in a sub-fund of such UCITS (the "Master").
The Feeder may not invest more than 15% of its assets in the following elements:
(i) ancillary liquid assets in accordance with Article 41, paragraph (2), second sub-paragraph of the 2010 Law;
(ii) financial derivative instruments which may be used only for hedging purposes, in accordance with Article 41 first
paragraph, point g) and Article 42 second and third paragraphs of the 2010 Law;
(iii) movable and immovable property which is essential for the direct pursuit of the Company' business.
Art. 18. Daily management.
a) The Board of Directors may establish, within or outside itself, any management committee, any consultative or
technical committee, permanent or not, while it shall stipulate the composition, the powers and, if so required, the fixed
or variable remuneration of its members, to be charged to overheads.
b) The Board of Directors may entrust the daily management of the Company as well as the representation of the
Company as regards this management:
- Either to one or more of its members who hold the title of acting managing director.
- Or to one or more representatives chosen from within or outside itself;
- The Board of Directors and the representatives for the daily management may, within the framework of that mana-
gement, delegate special and limited powers to any proxy;
- It may also charge the management of one or more parts of the social affairs to one or more directors or authorised
representatives chosen from within or outside itself and charge all special and limited powers to any proxy;
- The Board of Directors may use more than one of the facilities above and recall at any time the persons mentioned
in the paragraphs above;
- It fixes the awards and the fixed or variable remuneration, charged to overheads, of the persons to whom it grants
the powers.
Art. 19. Representation - Legal transactions, Legal actions and Commitments of the company. The Company is re-
presented as regards its legal transactions, including those involving a public functionary, a law official and in legal
proceedings:
- By two board members together;
- Or by the (those) charged with the daily management acting together or separately, within the limits of their powers.
In addition, it is validly bound by special proxies within the limits of their mandates.
Legal actions, as plaintiff or defendant, shall be monitored on behalf of the Company by a member of the Board of
Directors or by a person so authorised by the Board of Directors.
The Company is bound by the acts performed by the Board of Directors, by the board members authorised
to represent it or by the person(s) authorised with the daily management.
Art. 20. Invalidation clause. No contract and no transaction that the Company can conclude with other companies or
firms may be affected or invalidated by the fact that one or more board members, directors or authorised representatives
of the Company have any interest whatsoever in any other company or firm, or by the fact that that person is board
member, associate, director, authorised representative or employee of such society or company. The board member,
director or authorised representative of the Company who is a board member, director or authorized representative
or employee of a society or company with which the Company has contracts or with which it is otherwise conducting
business, shall not be deprived of the right to deliberate, to vote and to act regarding matters related to such contract
or such business. In the event that a board member, director or authorized representative has a personal interest in an
operation by the Company, such board member, director or authorised representative must inform the Board of Di-
rectors of his personal interest and he shall not deliberate and shall not take part in a vote on that matter; a report must
be made regarding this matter and the personal interest of the board member, director or authorised representative at
the next General Meeting of Shareholders. This paragraph shall not apply where the decision of the Board of Directors
relates to current operations entered into under normal conditions.
The term "personal interest", as used in this Article 20, shall not include any relationship with or interest in any matter,
position or transaction involving the Company or any subsidiary thereof, or such other company or entity as may from
time to time be determined by the Board of Directors at its discretion.
Art. 21. Indemnification. In the absence of serious negligence or bad management, any person who is or has been
director, authorised representative or board member may be remunerated by the Company for the total expenditure
justifiably incurred for all actions or lawsuits he participated in within the framework of his position as board member,
director or authorised representative of the Company.
Art. 22. Authorised auditor. Pursuant to the 2010 Law, the accounting and the preparation of all declarations imposed
by Luxembourg law shall be monitored by an approved authorised auditor. The authorised auditors shall be elected by
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the Annual General Meeting of the Shareholders for period ending at the date of the next Annual General Meeting of
Shareholders and until their successors are elected . The mandate of a departing authorised auditor who has not been
re-elected shall cease immediately after the General Meeting.
Art. 23. Custody of the assets of the company.
a) The custody of the assets of the Company shall be entrusted to a banking or savings institution in the meaning of
the law modified with regard to the financial sector (the "Custodian Bank"). If the Custodian Bank wishes to resign, the
Board of Directors shall use its best endeavours to find a successor custodian within two months of the effectiveness of
such resignation. The Board of Directors may denounce the custody agreement but may not remove the custodian unless
a successor Custodian has been found.
b) The Custodian Bank holding the assets of the Company shall be bound to comply with the liabilities and duties fixed
within the framework of an agreement established to this effect and in compliance with Luxembourg laws.
Art. 24. Management consultants. The Company may conclude one or more management or consultancy contracts
with any Luxembourg-based company or company based abroad through which such company or any other company
approved in advance shall provide consultation services, recommendations or management services for the Company in
regard to the investment policy of the Company.
In order to reduce operational and administrative charges while permitting the greatest diversification of investments,
the Board of Directors may decide that all or part of the assets of several sub-fund may be managed on a communal basis
if that is appropriate (pooling).
Such a pool of assets (hereinafter only "Pool of Assets" for the needs of this document) shall be composed by the
transfer of liquid assets or (while complying with the limitations mentioned above) other assets of each of the participating
sub-funds. The board members may from time to time make other contributions or deductions of assets in respect to
their respective investment sector.
Such Pools of Assets must not be considered as separate legal entities, and units of these Pools of Assets must not be
considered as shares of the Company.
The rights and the liabilities of each sub-fund managed on this global basis apply to each of them and concern each of
the investments performed within the Pools of Assets regarding which they hold the units.
Dividends, interest and other distributions that have the characteristic of revenue, received on behalf of a Pool of
Assets shall be immediately credited to the sub-funds proportionally to their respective participation in the Pool of Assets
at the moment of receipt. In the event of the dissolution of the Company, the assets of a Pool of Assets shall be allocated
to the sub-funds in proportion to their respective participation in the Pool of Assets.
Art. 25. Financial year period - Annual and Periodical reports. The financial year shall commence on the 1
st
January
and end on 31
st
December of the same year.
The accounts of the Company shall be prepared in EUR. In the event there are different sub-funds of shares and if the
accounts of these sub-funds have been prepared in different currencies, these accounts shall be converted into EUR and
totaled for the determination of the accounts of the Company.
Art. 26. Distribution of the annual income. Upon proposal by the Board of Directors and in compliance with legal
limits, the General Meeting of the Shareholders of the category(ies)/class(es) of shares issued within the framework of a
sub-fund shall determine the allocation of the results of that sub-fund and may on a periodical basis declare or authorise
the Board of Directors to declare interim distributions. For each category/class of shares or for all categories/classes of
shares giving the right to such distributions, the Board of Directors may decide to pay interim dividends, while remaining
in compliance with the law.
The payments of distributions to registered shareholders shall be made to those shareholders at their addresses
indicated in the register of shareholders. The payments of distributions to holders of bearer shares shall be made on
presentation of the dividend coupon to the agent or agents designated for this purpose by the Company.
The distributions may be paid in any currency chosen by the Board of Directors and at the time and place it chooses.
The Board of Directors may decide to distribute dividends in the form of new shares instead of cash dividends.
Any declared distribution that is not claimed by its beneficiary within five years from the date of its allocation may no
longer be claimed and shall revert to the corresponding sub-fund to the category(ies)/class(es) of shares in question.
The Board of Directors has all powers and may take all measures necessary for the application of this provision.
No interest shall be paid on dividends announced but remaining in the hands of the Company on behalf of its share-
holders.
The payment of revenues can only be considered due insofar as the exchange regulations in force permit their distri-
bution within the country of residence of the beneficiary.
Art. 27. Closure and Merger of sub-funds, Categories or Classes.
A. CLOSURE OF SUB-FUNDS, CATEGORIES OR CLASSES
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If the assets of any sub-fund, category or class fall below a level at which the Board of Directors of the Company
considers that its management is too difficult to ensure, it may decide to close that sub-fund, category or class. It may
also do so within the framework of a rationalisation of the range of the products it offers to its clientele.
The decision and the methods of closure shall be brought to the knowledge of the shareholders of the sub-fund,
category or class in question.
A notification relating to the closure of the sub-fund, category or class may also be transmitted to all the registered
shareholders of this sub-fund, category or class. The net assets of the sub-fund, category or class in question shall be
distributed among the remaining shareholders of the sub-fund, category or class. Any amounts that have not been dis-
tributed at the closure of the liquidation operations of the sub-fund, category or class in question shall be deposited at
the public trust office (Caisse de Consignation) in Luxembourg to be held for the benefit of the persons entitled thereto
and shall be forfeited after 30 years.
B. MERGER OF SUB-FUNDS, CATEGORIES OR CLASSES
The Board of Directors of the Company may decide, in the interest of the shareholders, to transfer or merge the
assets of one sub-fund, category or class of shares to those of another sub-fund, category or class of shares within the
Company. Such mergers may be performed for reasons of various economic reasons justifying a merger of sub-funds,
categories or classes of shares. The merger decision shall be published and be sent to all registered shareholders of the
sub-fund, category or of the concerned class of shares at least one month before the effective date of the merger. The
publication in question shall indicate, in addition, the characteristics of the new sub-fund, the new category or class of
shares. Every Shareholder of the relevant sub-funds, categories or classes shall have the opportunity of requesting the
redemption or the conversion of his own shares without any cost (other than the cost of disinvestment) during a period
of at least thirty (30) days before the effective date of the merger, it being understood that the effective date of the merger
takes place five (5) business days after the expiry of such notice period.
In the same circumstances as described in the previous paragraph and in the interest of the shareholders, the transfer
of assets and liabilities attributable to a sub-fund, category or class of shares to another UCITS or to a sub-fund, category
or class of shares within such other UCITS (whether established in Luxembourg or another Member State and whether
such UCITS is incorporated as a company or is a contractual type fund), may be decided by the Board of Directors of
the Company, in accordance with the provisions of the 2010 Law. The Company shall send a notice to the Shareholders
of the relevant sub-fund in accordance with the provisions of CSSF Regulation 10-5. Every shareholder of the sub-fund,
category or class of shares concerned shall have the possibility to request the redemption or the conversion of his shares
without any cost (other than the cost of disinvestment) during a period of at least thirty (30) days before the effective
date of the merger, it being understood that the effective date of the merger takes place five (5) business days after the
expiry of such notice period.
In the case of a contribution in a different Undertaking for collective investment, of the type "investment or mutual
fund", the contribution shall only involve the shareholders of the sub-fund, the category or the class of shares in question
who have expressly approved the contribution. Otherwise, the shares belonging to the other shareholders who have not
made a statement regarding that merger shall be reimbursed without any cost. Such mergers may be carried out in various
economic circumstances that justify a merger of sub-funds.
In case of a merger of a sub-fund, category or class of shares where, as a result, the Company ceases to exist, the
merger needs to be decided by a meeting of shareholders of the sub-fund, category or class of shares concerned, for
which no quorum is required and decisions are taken by the simple majority of the votes cast.
Art. 28. Dissolution. In the event of the dissolution of the Company, the Company shall be liquidated by one or more
liquidators who may be natural persons or legal entities and who shall be nominated by the General Meeting of the
Shareholders, which shall also stipulate their powers and their remuneration.
In the event the capital of the Company becomes less than two-thirds of the legal minimum capital, the board members
must submit the question of the dissolution of the Company to the General Meeting deliberating without condition of
attendance and deciding with a simple majority of the shares present or represented at the General Meeting. In the event
the capital falls to less than one quarter of the legal minimum capital, the General Meeting shall also discuss, again without
condition of attendance, but in this case the dissolution may be pronounced by the shareholders possessing one quarter
of the shares represented at the General Meeting.
The convocations to such General Meetings must be made so that the General Meetings are held within a deadline of
forty days from the date it is found that the net asset has fallen to either two-thirds or one-quarter of the minimum
capital.
The net proceeds from the liquidation of each sub-fund shall be distributed by the liquidators to the shareholders of
that sub-fund.
Art. 29. Amendments to the articles of incorporation. The present Articles of Incorporation may be amended by a
General Meeting of the Shareholders subject to the quorum and voting conditions pursuant to Luxembourg law and by
the provisions of the present Articles of Incorporation.
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Art. 30. Legal provisions. For all matters that are not regulated through the present Articles of Incorporation, the
parties shall refer to the provisions of the law of 10 August 1915 on commercial companies as well as of the 2010 Law,
as both may be amended from time to time.
<i>Transitory Dispositionsi>
1) The first accounting year will begin on the date of the incorporation of the Company and will end on 31 December
2012.
2) The first annual general meeting of shareholders will be held 2013.
<i>Initial Capital - Subscription and Paymenti>
The initial share capital is fixed at EUR 31,000.- (thirty-one thousand euros) represented by 31 (thirty-one) shares
without a par value.
The share capital of the Company is subscribed as follows:
LA FRANCAISE DES PLACEMENTS subscribes for 31 (thirty-one) shares, resulting in a total payment of Euro 31,000.-
(thirty-one thousand Euros).
Evidence of the above payment of Euro 31,000.- (thirty-one thousand Euros) was given to the undersigned notary.
<i>Declarationi>
The undersigned notary herewith declares having verified the existence of the conditions enumerated in Articles 26,
26-3 and 26-5 of the Law of 1915 and expressly states that they have been fulfilled.
<i>Expensesi>
The formation and preliminary expenses of the Company, amount to approximately Euro 3,000.-.
<i>General Meeting of shareholdersi>
The above named person representing the entire subscribed capital and considering itself validly convened, has im-
mediately proceeded to resolve as follows:
I. Are elected as directors of the Company with immediate effect until the annual general meeting of shareholders to
be held in the year 2013:
1) Alain GERBALDI, Chairman LA FRANCAISE AM INTERNATIONAL, 4a, rue Henri Schnadt L-2530 Luxembourg,
born on 27 January 1948 in Paris (France) Chairman of the Board of Directors
2) Pascale AUCLAIR, Managing Director LA FRANCAISE DES PLACEMENTS, 17, rue de Marignan F-75008 Paris, born
on 6 January 1961 in Thonon-Les-Bains (France)
3) Philippe VERDIER, Managing Director LA FRANCAISE AM INTERNATIONAL, 4a, rue Henri Schnadt L-2530 Lu-
xembourg, born on 16 August 1964 in Rouen (France)
4) Patrick RIVIERE, Managing Director LA FRANCAISE AM, 17, rue de Marignan F-75008 Paris, born on 2 February
1959 in Saint-Etienne (France)
II. The following is elected as independent auditor until the annual general meeting of shareholders to be held in the
year 2013:
Deloitte Audit, having its registered office in L-2220 Luxembourg, 560, rue de Neudorf.
III. The registered office is established in L-5826 Hesperange, 33, rue de Gasperich.
The undersigned notary, who understands and speaks English, herewith states that on request of the above named
persons, this deed is worded in English.
Whereof this notarial deed was drawn up in Luxembourg on the date at the beginning of this deed.
This deed having been given for reading to the party, they signed together with, the notary this original deed.
Signé: M.-L. MARTINET et J. BADEN.
Enregistré à Luxembourg A.C., le 4 mai 2012. LAC / 2012 / 20426. Reçu soixante quinze euros € 75,-
<i>Le Receveuri> (signé): THILL.
- POUR EXPEDITION CONFORME - délivrée à la Société sur demande.
Luxembourg, le 9 mai 2012.
Référence de publication: 2012055254/765.
(120077107) Déposé au registre de commerce et des sociétés de Luxembourg, le 11 mai 2012.
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Nordea Life & Pensions S.A., Société Anonyme.
Siège social: L-2220 Luxembourg, 562, rue de Neudorf.
R.C.S. Luxembourg B 35.996.
<i>Extrait des résolutions prises lors de l'assemblée générale annuelle des actionnaires de la Société tenue en date du 29 mars 2012i>
En date du 29 mars 2012, l'assemblée générale annuelle des actionnaires de la Société a pris les résolutions suivantes;
- de renouveler le mandat des personnes suivantes en tant qu'administrateur de la Société avec effet immédiat et ce
pour une durée déterminée jusqu'à la prochaine assemblée générale des actionnaires de la Société qui se tiendra en l'année
2013:
* Monsieur Jhon Fritz MORTENSEN
* Monsieur Christian KOFOED
* Monsieur Claus JORGENSEN
* Monsieur Jens LIND
- de renouveler le mandat de KPMG Luxembourg, une société à responsabilité limitée, ayant son siège social à l'adresse
suivante: 9, Allée Scheffer, L-2520 Luxembourg, immatriculée auprès du Registre de Commerce et des Sociétés de Lu-
xembourg sous le numéro B149.133, en tant que réviseur d'entreprises agréé de la Société avec effet immédiat et ce pour
une durée déterminée jusqu'à la prochaine assemblée générale des actionnaires de la Société qui se tiendra en l'année
2013.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 20 avril 2012.
<i>Pour NORDEA LIFE & PENSIONS S.A.
i>Signature
<i>Un mandatairei>
Référence de publication: 2012048357/26.
(120065688) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2012.
Allianz Infrastructure Luxembourg I SICAV-FIS, Société Anonyme sous la forme d'une SICAV - Fonds
d'Investissement Spécialisé.
Siège social: L-2450 Luxembourg, 14, boulevard F.D. Roosevelt.
R.C.S. Luxembourg B 164.966.
Statuts coordonnés déposés 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.
Référence de publication: 2012047532/11.
(120064163) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
JDA S.à r.l., Société à responsabilité limitée.
Siège social: L-9465 Walsdorf, 1, An der Gaass.
R.C.S. Luxembourg B 168.296.
STATUTS
L'an deux mille douze, le treize avril.
Par-devant Maître Pierre PROBST, notaire de résidence à Ettelbruck.
Ont comparu
1. Monsieur Daniel FERNANDES BRITO, diplômé, né le 31 décembre 1974 (1974 12 31 193) à Luxembourg, demeurant
à L- 9022 Ettelbruck, 43, chemin du Camping.
2. Monsieur Alvaro SOARES DA COSTA, chef de chantier, né le 17 octobre 1969 à Vila Châ (Portugal), (matr: 1969
10 17 535) demeurant à L- 7733 Colmar-Berg, 39, route de Luxembourg.
3. Monsieur José Carlos ROQUE AFONSO, commercial, né le 22 janvier 1967 à Malange en Angola, (matr: 1967 01
22 398) demeurant à L-9360 Brandenbourg, 1C, Langwiss,
ici représenté par Monsieur Daniel FERNANDES BRITO, prénommé, en vertu d'une procuration donnée sous seing
privé, laquelle procuration, après avoir été signée «ne varietur» par le notaire instrumentaire, restera annexée au présent
acte pour être enregistrée avec lui;
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Lesquels comparants ont requis le notaire instrumentaire d'acter comme suit les statuts d'une société à responsabilité
limitée qu'ils déclarent constituer comme suit
Art. 1
er
. La société à responsabilité limitée prend la dénomination de «JDA S.à r.l.».
Art. 2. Le siège social de la société est établi dans la commune de Tandel. Il pourra être transféré en toute autre localité
du Grand-Duché de Luxembourg par simple décision des associés.
Art. 3. La société a pour objet l'importation, l'exportation, l'achat, la vente et la représentation de biens et services.
La société a aussi pour objet le conseil en gestion, notamment en matière fiscale, financière, opérationnelle, commer-
ciale, de marketing, de ressources humaines, de qualité et de logistique.
Dans le cadre de son activité, la société pourra accorder hypothèque, emprunter avec ou sans garantie ou se porter
caution pour d'autres personnes morales et physiques, sous réserve des dispositions légales afférentes.
La société pourra effectuer toutes opérations commerciales, industrielles, immobilières, mobilières et financières,
pouvant se rapporter directement ou indirectement aux activités ci-dessus décrites ou susceptibles d'en faciliter l'ac-
complissement.
La société pourra s'intéresser, sous quelques forme et de quelque manière que ce soit, dans toutes sociétés ou en-
treprise se rattachant à son objet ou de nature à le favoriser et à le développer.
Art. 4. La durée de la société est indéterminée.
Art. 5. L'année sociale commence le premier janvier et finit le trente et un décembre de chaque année.
Art. 6. Le capital social est fixé à la somme de DOUZE MILLE CINQ CENTS EUROS (12.500,00 €) divisé en cent
(100) parts sociales de cent vingt-cinq euros (125,00 €) chacune, entièrement souscrit et libéré en espèces par les parties
comparantes prénommées, de sorte que la somme de douze mille cinq cents euros se trouve dès à présent à la libre
disposition de la société, ainsi qu'il en a été justifié au notaire.
En raison de ces apports, les cent (100) parts sociales de la société, représentant une valeur de cent vingt-cinq euros
(125,00 €) chacune, sont attribuées aux comparants, de la façon suivante:
Monsieur Daniel FERNANDES BRITO, prénommé . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34 parts
Monsieur SOARES DA COSTA,prénommé . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33 parts
Monsieur ROQUE AFONSO, prénommé . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33 parts
Total: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 parts
Art. 7. La société est gérée et administrée par un ou plusieurs gérants, associés ou non, nommés par l'assemblée
générale qui détermine leurs pouvoirs et la durée de leurs fonctions.
Art. 8. En cas de pluralité d'associés, aucun des associés ne pourra céder ses droits à un tiers sans le consentement
unanime de ses co-associés. Entre associés, les parts sociales sont librement cessibles.
Art. 9. Chaque année, au trente et un décembre, il sera fait un inventaire de l'actif et du passif de la société.
Le bénéfice net, déduction faite des frais généraux, traitements et amortissements, sera réparti de la façon suivante:
- 5% pour la constitution d'un fonds de réserve légal, dans la mesure des dispositions légales;
- le solde reste à la libre disposition du ou des associés.
En cas de distribution, le solde bénéficiaire sera attribué aux associés au prorata de leur participation au capital social.
Art. 10. Le décès ou la faillite de l'un ou de plusieurs des associés n'entraînera pas la dissolution de la société; les
héritiers, légataires et ayants-cause de l'associé décédé ou failli n'auront pas le droit de faire apposer des scellés sur les
biens et valeurs de la société; pour faire valoir leurs droits, ils devront se tenir aux valeurs constatées dans le dernier
bilan social.
Art. 11. Pour tous les points non expressément prévus aux présentes, le comparant se réfère aux dispositions légales
en vigueur.
<i>Déclarationi>
Les associés déclarent, en application de la loi du 12 novembre 2004, telle qu'elle a été modifiée par la suite, être le
bénéficiaire réel de la société faisant l'objet des présentes et certifient que les fonds/biens/droits servant à la libération
du capital social ne proviennent pas respectivement que la société ne se livre(ra) pas à des activités constituant une
infraction visée aux articles 506-1 du Code Pénal et 8-1 de la loi modifiée du 19 février 1973 concernant la vente de
substances médicamenteuses et la lutte contre la toxicomanie (blanchiment) ou des actes de terrorisme tels que définis
à l'article 135-1 du Code Pénal (financement du terrorisme).
<i>Fraisi>
Les parties ont évalué le montant des frais, dépenses, rémunérations et charges, sous quelque forme que ce soit qui
incombent à la société à environ 700,- EUR.
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<i>Assemblée générale extra-ordinaire.i>
Et de suite, les comparants sus-nommés, représentant l'intégralité du capital social de la société, se sont constitués en
assemblée générale extraordinaire et ont pris les résolutions suivantes:
1. L'adresse de la société est fixée à L-9465 Walsdorf, 1, an der Gaass.
2. Sont nommés Monsieur Daniel FERNANDES BRITO, prénommé,en tant que gérant technique de la société et
Monsieur Alvaro SOARES DA COSTA, gérant administratif de la société.
3. Les gérants sont habilités à engager en toutes circonstances la société par leur signature conjointe.
4. Les mandats ainsi conférés restent valables jusqu'à décision contraire de l'assemblée générale.
Rien d'autre n'étant à l'ordre du jour, l'assemblée a été clôturée.
Dont acte, fait et passé à Ettelbruck, date qu'en tête des présentes.
Et après lecture faite et interprétation donnée au comparant, celui-ci a signé avec le notaire le présent acte.
Signé: Daniel FERNANDES BRITO, Alvaro SOARES DA COSTA, Pierre PROBST
Enregistré à Diekirch, Le 18 avril 2012. Relation: DIE/2012/4499. Reçu soixante-quinze euros 75,00.-€
<i>Le Receveuri>
(signé): Tholl.
POUR EXPEDITION CONFORME, délivrée à la société sur demande et aux fins de publication au Mémorial.
Ettelbruck, le 23 avril 2012.
Référence de publication: 2012047768/88.
(120064319) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Aquarius S.a., Société Anonyme.
Siège social: L-9053 Ettelbruck, 45, avenue J.F. Kennedy.
R.C.S. Luxembourg B 93.375.
<i>Auszug aus dem Protokoll der Ordentlichen Generalversammlung Abgehalten am Firmensitz Ausserordentlich am 29. März 2012i>
<i>Um 10.00 Uhri>
Das Mandat des Aufsichtskommissars EWA REVISION S.A., eingeschrieben im Handelsregister Luxemburg unter der
Nummer B 38 937 wird ersetzt durch die Firma FIRELUX S.A., eingeschrieben im Handelsregister Luxemburg unter der
Nummer B 84 589, mit Sitz in L - 9053 Ettelbruck, 45, Avenue J.F. Kennedy.
Dieses Mandat endet bei der ordentlichen Generalversammlung die im Jahre 2015 statt finden wird.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.
Für gleichlautende Ausfertigung
<i>Der Verwaltungsrati>
Référence de publication: 2012047563/16.
(120064652) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Rosemill Estate S.A., Société Anonyme.
Siège social: L-1660 Luxembourg, 60, Grand-rue.
R.C.S. Luxembourg B 125.448.
EXTRAIT
Par décision de l’Assemblée Générale Extraordinaire du 30 mars 2012: -
- Est confirmé avec effet immédiat le renouvellement du mandat de Nationwide Management S.A. ayant son siège social
60 Grand Rue, 1
er
étage, L-1660 Luxembourg n° RCS Luxembourg B99 746 comme Administrateur jusq u'à l’assemblée
générale qui se tiendra en l’année 2016.
- Est acceptée la nomination de Rika Mamdy avec adresse professionnelle 60 Grand Rue, L-1660 Luxembourg en tant
que représentant permanent de Nationwide Management S.A. ayant son siège social 60 Grand Rue, 1
er
étage, L-1660
Luxembourg n° RCS Luxembourg B99 746.
- Est confirmé avec effet immédiat le renouvellement du mandat de Tyndall Management S.A. ayant son siège social 60
Grand Rue, 1
er
étage, L-1660 Luxembourg n° RCS Luxembourg B99 747 comme Administrateur jusqu'à l’assemblée
générale qui se tiendra en l’année 2016.
- Est acceptée la nomination de Rika Mamdy avec adresse professionnelle 60 Grand Rue, L-1660 Luxembourg en tant
que représentant permanent de Tyndall Management S.A. ayant son siège social 60 Grand Rue, 1
er
étage, L-1660 Lu-
xembourg n° RCS Luxembourg B99 747.
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- Est confirmé avec effet immédiat le renouvellement du mandat de Alpmann Management S.A. ayant son siège social
60 Grand Rue, 1
er
étage, L-1660 Luxembourg n° RCS Luxembourg B99 739 comme Administrateur jusqu'à l’assemblée
générale qui se tiendra en l’année 2016.
- Est acceptée la nomination de Rika Mamdy avec adresse professionnelle 60 Grand Rue, L-1660 Luxembourg en tant
que représentant permanent de Alpmann Management S.A. ayant son siège social 60 Grand Rue, 1
er
étage, L-1660
Luxembourg n° RCS Luxembourg B99 739.
- Est confirmé avec effet immédiat le renouvellement du mandat de Fiduciairy and Accounting Services S.A. ayant son
siège social R.G. Hodge Plaza, 1, Wickhams Cay, Road Town, Tortola, British Virgin Islands, n° IBC 303554 comme
Commissaire aux Comptes jusqu'à l’assemblée générale qui se tiendra en l’année 2016.
Luxembourg, le 30 mars 2012.
<i>Pour ROSEMILL ESTATE S.A.i>
Référence de publication: 2012048907/32.
(120066749) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.
Allianz Infrastructure Luxembourg II SICAF-FIS, Société Anonyme sous la forme d'une SICAF - Fonds
d'Investissement Spécialisé.
Siège social: L-2450 Luxembourg, 14, boulevard F.D. Roosevelt.
R.C.S. Luxembourg B 165.370.
Statuts coordonnés déposés 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.
Référence de publication: 2012047533/11.
(120064164) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Allianz Private Equity Luxembourg I SICAV-FIS, Société Anonyme sous la forme d'une SICAV - Fonds
d'Investissement Spécialisé.
Siège social: L-2450 Luxembourg, 14, boulevard F.D. Roosevelt.
R.C.S. Luxembourg B 164.997.
Statuts coordonnés déposés 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.
Référence de publication: 2012047534/11.
(120064165) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Amaranthe Octogone S.à r.l., Société à responsabilité limitée.
Capital social: EUR 271.574,00.
Siège social: L-1637 Luxembourg, 3, rue Goethe.
R.C.S. Luxembourg B 153.428.
Par résolutions prises en date du 16 avril 2012, les gérants ont décidé de transférer le siège social de la société du 5,
rue Guillaume Kroll, L-1882 Luxembourg au 3, rue Goethe, L-1637 Luxembourg avec effet immédiat.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 20 avril 2012.
Référence de publication: 2012047539/12.
(120064294) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Allianz Private Equity Luxembourg II SICAV-FIS, Société Anonyme sous la forme d'une SICAV - Fonds
d'Investissement Spécialisé.
Siège social: L-2450 Luxembourg, 14, boulevard F.D. Roosevelt.
R.C.S. Luxembourg B 164.999.
Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
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Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 23 avril 2012.
Référence de publication: 2012047535/11.
(120064166) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
AltaFund Invest II S.à r.l., Société à responsabilité limitée.
Siège social: L-1653 Luxembourg, 2-8, avenue Charles de Gaulle.
R.C.S. Luxembourg B 162.489.
Statuts coordonnés déposés 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.
Référence de publication: 2012047537/10.
(120064160) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
AltaFund Value-Add I, Société en Commandite par Actions - Fonds d'Investissement Spécialisé.
Siège social: L-1653 Luxembourg, 2-8, avenue Charles de Gaulle.
R.C.S. Luxembourg B 159.249.
Statuts coordonnés déposés 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.
Référence de publication: 2012047538/10.
(120064176) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Ergan S.à r.l., Société à responsabilité limitée.
Capital social: EUR 12.500,00.
Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.
R.C.S. Luxembourg B 153.057.
Monsieur Pierre Metzler, demeurant professionnellement au 69, Boulevard de la Pétrusse, L-2320 Luxembourg, a
transféré, en date du 17 novembre 2010, 12.500 parts sociales de la Société à Line Trust Corporation Limited, une société
constituée selon les lois de Gibraltar, ayant son siège social au 57/63 Line Wall Road, Gibraltar, et enregistré avec le
Companies Register of Gibraltar sous numéro 25791 agissant en tant que dépositaire pour le compte de The Daisy
Settlement;
A la suite des cessions décrites ci-dessus, Line Trust Corporation Limited, une société constituée selon les lois de
Gibraltar, ayant son siège social au 57/63 Line Wall Road, Gibraltar, et enregistré avec le Companies Register of Gibraltar
sous numéro 25791 agissant en tant que dépositaire pour le compte de The Daisy Settlement, détient la totalité des
12.500 parts sociales de la Société;
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012047661/18.
(120064447) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Muellux Holding Company I S.à r.l., Société à responsabilité limitée.
Siège social: L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte.
R.C.S. Luxembourg B 149.971.
<i>Extrait des décisions prises par l’associée unique en date du 2 avril 2012i>
1. Madame Adela IANCU a démissionné de son mandat de gérante de catégorie B.
2. Monsieur Hugo FROMENT a démissionné de son mandat de gérant de catégorie B.
3. Monsieur Pierre CLAUDEL, administrateur de sociétés, né à Schiltigheim (France), le 23 mai 1978, demeurant
professionnellement à L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte, a été nommé comme gérant de
catégorie B pour une durée indéterminée.
4. Monsieur Alberto MORPURGO, administrateur de sociétés, né à Trieste (Italie), le 31 janvier 1972, demeurant
professionnellement à L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte, a été nommé comme gérant de
catégorie B pour une durée indéterminée.
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Luxembourg, le 23 avril 2012.
Pour extrait sincère et conforme
<i>Pour Muellux Holding Company I S.àr.l.
i>Intertrust (Luxembourg) S.A.
Référence de publication: 2012047815/20.
(120064336) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Asset Backed-B S.A., Société Anonyme.
Siège social: L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 129.031.
Les comptes annuels au 31 août 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
<i>Pour Asset Backed-B S.A.
i>Caceis Bank Luxembourg
Signature
Référence de publication: 2012047540/12.
(120064475) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Asset Backed-D S.A., Société Anonyme.
Siège social: L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 137.744.
Les comptes annuels au 30 septembre 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
<i>Pour Assset Backed-D SA
i>Caceis Bank Luxembourg
Signature
Référence de publication: 2012047541/12.
(120064474) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Interlux Info, Société à responsabilité limitée.
Siège social: L-1249 Luxembourg, 15, rue du Fort Bourbon.
R.C.S. Luxembourg B 159.732.
DISSOLUTION
In the year two thousand and twelve, on the fourth day of April.
Before the undersigned Maître Jean SECKLER, notary public, residing in Junglinster, Grand Duchy of Luxembourg.
There appears:
Monsieur Pedro FERNANDES DAS NEVES company director, born on 15 octobre 1974 in Lisbonne (Portugal) residing
at 8, rue des Hêtres in L-8137 Bridel, here duly represented by Mr Max MAYER, employee, professionally residing in
Junglinster, 3, route de Luxembourg, by virtue of a proxy given under private seal.
The said proxy, signed ne varietur by the proxy holder of the party appearing and the undersigned notary, will remain
annexed to the present deed to be filed with the registration authorities.
Such appearing party, represented as stated here above, has requested the undersigned notary to state that:
The appearing party is currently the sole shareholder of the private limited liability company established in Luxembourg
under the name of Interlux Info (the "Company"), with registered office in L-1249 Luxembourg, 15, rue du Fort Bourbon
registered with the Luxembourg Trade and Company Register, section B under number 159.732, incorporated under the
name of Cicepi by virtue of a the undersigned notary dated March 3, 2011, published in the Mémorial C, Recueil des
Sociétés et Associations, number 1206 of June 6, 2011, whose articles of incorporation were amended by two (2) deeds
drawn up by the undersigned notary:
- on June 15
th
, 2011, published in the Mémorial C, Recueil des Sociétés et Associations, number 1989 of Augusut 29
th
, 2011, by adopting the name of Gravitas, and
- on March 1
st
, 2012, not yet published in the Mémorial C, Recueil des Sociétés et Associations, by adopting the name
of Interlux Info
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The share capital of the Company presently amounts to twelve thousand and five hundred Euro (EUR 12,500.-),
represented by five hundred (500) shares with a par value of twenty-five Euro (€ 25.-) each.
The appearing party is currently the sole owner of all the shares of the Company.
The appearing party, as the sole shareholder of the Company, expressly declares to proceed with the anticipated
dissolution of the Company.
The appearing party, as the liquidator of the Company, declares that all known liabilities of the Company have been
settled.
The activity of the Company has ceased and all assets of the Company are transferred to its sole shareholder, who is
personally liable for all liabilities and engagements of the Company, even those actually unknown, in the same way as the
latter was liable; accordingly, the liquidation of the Company is considered to be closed.
The sole shareholder wholly and fully discharges the managers of the dissolved Company of their mandate as of today.
The accounting books and documents of the dissolved Company will be kept during a period of five years at the
Company's former registered office.
<i>Expensesi>
The expenses, costs, remuneration or charges in any form whatsoever, which will be borne by the Company as a result
of the present shareholder meeting, are estimated at approximately 800,-EUR.
The undersigned notary, who understands and speaks English, states herewith that on request of the above appearing
party, the present deed is worded in English followed by a French translation.
On request of the same appearing party and in case of divergence between the English and the French text, the English
version will prevail.
Whereof, the present deed was drawn up in Junglinster, on the day named at the beginning of this document.
The document having been read to the person appearing, known to the undersigned notary, by name, surname, civil
status and residence, he signed together with the notary the present deed.
Suit la traduction française du texte qui précède:
L'an deux mille douze, le quatre avril.
Par-devant Maître Jean SECKLER, notaire de résidence à Junglinster, Grand-duché de Luxembourg.
A comparu:
Monsieur Pedro FERNANDES DAS NEVES, company director, né le 15 octobre 1974 à Lisbonne (Portugal) residant
au 8, rue des Hêtres à L-8137 Bridel, ici dûment représenté par Monsieur Max MAYER, employé, demeurant profes-
sionnellement à Junglinster, 3, route de Luxembourg, en vertu d'une procuration donnée sous seing privé.
Laquelle procuration restera, après avoir été signée ne varietur par la mandataire de la comparante et le notaire
instrumentant, annexée aux présentes pour être soumise aux formalités d'enregistrement avec elles.
Lequel comparante, représentée comme indiqué ci-dessus, a requis le notaire instrumentaire d'acter que:
Le comparant est actuellement le seul associé de la société à responsabilité limitée établie à Luxembourg sous la
dénomination de Interlux Info (la "Société"), ayant son siège social à L-1249 Luxembourg, 15, rue du Fort Bourbon, inscrite
au Registre de Commerce et des Sociétés de Luxembourg, section B sous le numéro 159.732, constituée originairement
sous la dénomination de Cicepi suivant acte reçu par le notaire instrumentant en date du3 mars 2011, publié au Mémorial
C, Recueil des Sociétés et Associations, numéro 1206 du 6 juin 2011, dont les statuts ont été modifiés deux (2) fois suivant
actes reçus par le notaire instrumentant en date du:
- 15 juin 2011 publié au Mémorial C, Recueil des Sociétés et Associations, numéro 1989 du 29 août 2011, en adoptant
la dénomination Gravitas, et
- 1
er
mars 2012, en voie du publication au Mémorial C, Recueil des Sociétés et Associations, en adoptant la dénomi-
nation Interlux Info
La Société a actuellement un capital social de douze mille cinq cent euros (EUR 12.500,-), représenté par cinq cents
(500) parts sociales d'une valeur nominale de vingt-cinq euro (EUR 25,-) chacune.
Le comparant est actuellement propriétaire de l'intégralité des parts sociales de la Société.
Par la présente la comparante prononce la dissolution anticipée de la Société avec effet immédiat.
Le comparant en sa qualité de liquidateur de la Société déclare que tout le passif connu de la Société est réglé.
L'activité de la Société a cessé; l'associé unique est investi de tout l'actif et il répondra personnellement de tous les
engagements de la Société même inconnus à l'heure actuelle, de la même manière que celle-ci y était tenue; partant la
liquidation de la Société est à considérer comme faite et clôturée.
L'associé unique donne décharge pleine et entière aux gérants pour leur mandat jusqu'à ce jour.
Les documents et pièces relatifs à la Société dissoute resteront conservés durant cinq ans à l'ancien siège social de la
Société.
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<i>Fraisi>
Les frais, dépenses, rémunérations et charges sous quelque forme que ce soit, incombant à la Société et mis à sa charge
en raison des présentes, sont évalués sans nul préjudice à la somme de 800,-EUR.
Le notaire soussigné, qui comprend et parle l'anglais, constate par les présentes qu'à la requête de la personne com-
parante le présent acte est rédigé en anglais, suivi d'une version française.
A la requête de la même personne et en cas de divergences entre le texte anglais et le texte français, la version anglaise
fera foi.
Dont acte, fait et passé à Junglinster, date qu'en tête des présentes.
Après lecture du présent acte au mandataire de la partie comparante, agissant comme dit ci-avant, connu du notaire
par ses nom, prénom, état civil et domicile, ledit mandataire a signé avec Nous, notaire, le présent acte.
Signé: Max MAYER, Jean SECKLER.
Enregistré à Grevenmacher, le 11 avril 2012. Relation GRE/2012/1269. Reçu soixante-quinze euros 75,00 €.
<i>Le Receveuri>
(signé): G. SCHLINK
POUR COPIE CONFORME.
Junglinster, le 23 avril 2012.
Référence de publication: 2012047728/96.
(120064460) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
EDC Luxembourg S.à r.l., Société à responsabilité limitée.
Siège social: L-2121 Luxembourg, 231, Val des Bons-Malades.
R.C.S. Luxembourg B 165.913.
Il résulte de deux actes de cession sous seing privé signés le 23 mars 2012 que
- M. Ivor Mcintosh FINNIE a cédé et transporté 3.360 parts sociales qu’il détenait dans la Société à Noble Trust
Company AG as Trustee of The Finnie Family Trust, Bundesstrasse 5, P.O. Box 4513, CH-6304 Zug;
- M. Allan WALLACE a cédé et transporté 2.240 parts sociales qu’il détenait dans la Société à Noble Trust Company
AG as Trustee of The Wallace Family Trust, Bundesstrasse 5, P.O. Box 4513, CH-6304 Zug.
Il en résulte que la nouvelle répartition des parts sociales est dorénavant la suivante:
- M. Ivor Mcintosh FINNIE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.240 parts sociales
- M. Alan WALLACE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.360 parts sociales
- Noble Trust Company AG as Trustee of the Robson Children’s Trust . . . . . . . . . . . . . . . . .
2.800 parts sociales
- Noble Trust Company AG as Trustee of the Wallace Family Trust . . . . . . . . . . . . . . . . . . .
2.240 parts sociales
- Noble Trust Company AG as Trustee of the Finnie Family Trust . . . . . . . . . . . . . . . . . . . . .
3.360 parts sociales
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.000 parts sociales
Luxembourg, le 23 mars 2012.
Pour extrait conforme
SG Audit S.à r.l.
Référence de publication: 2012048185/22.
(120065557) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2012.
Geram International S.A., Société Anonyme Soparfi.
Siège social: L-1471 Luxembourg, 412F, route d'Esch.
R.C.S. Luxembourg B 19.372.
<i>Extrait des résolutions prises lors de l'Assemblée Générale Statutaire Reportée du 2 avril 2012i>
Les mandats d'Administrateur de:
- Madame Laurence MOSTADE, employée privée, demeurant professionnellement au 412F, route d'Esch, L-2086
Luxembourg;
- Monsieur Michel LENOIR, employé privé, demeurant professionnellement au 412F, route d'Esch, L-2086 Luxem-
bourg; et de
- Monsieur Carlo SCHLESSER, licencié en sciences économiques et diplômé en hautes études fiscales, demeurant
professionnellement au 412F, route d'Esch, L-2086 Luxembourg, sont reconduits pour une nouvelle période statutaire
de 6 ans jusqu'à l'Assemblée Générale Statutaire de l'an 2018.
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Le mandat de Commissaire aux Comptes de la société FIN-CONTROLE S.A. Société Anonyme, ayant son siège social
au 12, rue Guillaume Kroll, Bâtiment F, L-1882 Luxembourg est reconduit pour une nouvelle période statutaire de 6 ans
jusqu'à l'Assemblée Générale Statutaire de l'an 2018.
Fait à Luxembourg, le 2 avril 2012.
Certifié sincère et conforme
GERAM INTERNATIONAL S.A.
Signatures
<i>Administrateur / Administrateuri>
Référence de publication: 2012048756/24.
(120066229) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.
Froidchapelle S.A., Société Anonyme.
Siège social: L-1420 Luxembourg, 5, avenue Gaston Diderich.
R.C.S. Luxembourg B 40.843.
<i>Extrait de l'assemblée générale ordinaire des actionnaires de la Société Froidchapelle S.A. qui s'est tenue à Luxembourg le 24 avrili>
<i>2012.i>
Omissis
<i>Septième résolution:i>
Le mandat des administrateurs et du commissaire aux comptes arrivant à échéance, l'assemblée générale décide de
nommer, jusqu'à l'assemblée générale annuelle qui se tiendra en 2018, un nouveau conseil d'administration composé
comme suit:
<i>Administrateurs:i>
- Concetta Demarinis, employée privée, née le 14 février 1967 à Acquaviva delle Fonti (BA), Italie, demeurant pro-
fessionnellement au 5, Avenue Gaston Diderich, L-1420 Luxembourg,
- Xavier Mangiullo, employé privé, né le 8 septembre 1980 à Hayange, France, et demeurant professionnellement au
5, Avenue Gaston Diderich, L-1420 Luxembourg,
- Francesca Docchio, employée privée, née le 29 mai 1971 à Bergame, Italie et demeurant professionnellement au 5,
Avenue Gaston Diderich, L-1420 Luxembourg,
<i>Commissaire aux comptes:i>
- Finsev SA, avec siège social au 5, Aveenue Gaston Diderich, L-1420 Luxembourg, et inscrite au Registre de Commerce
et des Sociétés de Luxembourg sous le numéro B 103.749.
Luxembourg, le 24 avril 2012.
Pour copie conforme
<i>Pour le conseil d'administration
i>Xavier Mangiullo / Francesca Docchio
<i>Administrateur / Administrateuri>
Référence de publication: 2012049060/29.
(120066873) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.
Magalo Trading sàrl, Société à responsabilité limitée.
Siège social: L-5975 Itzig, 24, Cité Bernard Simminger.
R.C.S. Luxembourg B 168.295.
STATUTS
L'an deux mil douze. Le vingt-trois mars.
Pardevant Maître Christine DOERNER, notaire de résidence à Bettembourg.
A comparu:
Monsieur Suleymaan Cabdulle CIYOW, indépendant, né à Jalaqsi (Somalie) le 3 mars 1957 (No. Matricule
19570303255), demeurant à L-5975 Itzig, 24 Cité Bernard Simminger.
Lequel comparant a requis le notaire instrumentaire de documenter ainsi qu'il suit les statuts d'une société à respon-
sabilité limitée unipersonnelle qu'il déclare constituer.
Art. 1
er
. La société prend la dénomination de «MAGALO TRADING sàrl».
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Art. 2. Le siège de la société est établi à Itzig.
Il pourra être transféré en toute autre localité du Grand-Duché de Luxembourg par simple décision des associés.
Art. 3. La société a pour objet à propre compte ou à la commission, la représentation, l'importation et l'exportation,
l'achat et la vente, la location et plus généralement le commerce de toutes machines industrielles, agricoles, neuves et
d'occasions, ainsi que de tous accessoires, pièces de rechange y relatifs et de matériaux de construction tant au Luxem-
bourg qu'à l'étranger et plus particulièrement en Somalie. En outre la société pourra effectuer et organiser les transports
par affrètement de bateaux ou d'avions cargo pour l'acheminement du matériel vers la Somalie, respectivement toute
autre destination. L'organisation et la réalisation de construction, d'infrastructures d'immeubles et routes tant au Lu-
xembourg qu'à l'étranger et plus spécialement en Somalie. La société pourra, d'une façon générale faire tous actes,
transactions ou opérations commerciales, industrielles, financières, mobilières et immobilières qui se rattachent directe-
ment ou indirectement à son objet social ou qui seraient de nature ...ter ou en développer la réalisation. La société pourra
participer de ... manière, tant au Grand-Duché qu'à l'étranger, à toutes exploitations ou entreprises similaires. La société
a aussi pour objet toutes les opérations se rapportant directement ou indirectement à la prise de participations sous
quelque forme que ce soit, dans toute entreprise, ainsi que l'administration, la gestion, le contrôle et le développement
de ces participations.
Elle pourra notamment employer ses fonds à la création, à la gestion, à la mise en valeur et à la liquidation d'un
portefeuille se composant de tous titres et brevets de toute origine, participer à la création, au développement et au
contrôle de toute entreprise, acquérir par voie d'apport, de souscription, de prise ferme ou d'option d'achat et de toute
autre manière, tous titres et brevets, les réaliser par voie de vente, de cession, d'échange ou autrement, faire mettre en
valeur ces affaires et brevets, accorder aux sociétés auxquelles elle s'intéresse tous concours, prêts, avances ou garanties.
La société pourra faire en outre toutes opérations commerciales, industrielles et financières, qui peuvent lui paraître
utiles dans l'accomplissement de son objet.
Art. 4. La durée de la société est indéterminée.
Art. 5. L'année sociale commence le premier janvier et finit le trente et un décembre de chaque année. Par dérogation,
le premier exercice social commence le jour de la constitution pour finir le 31 décembre 2012.
Art. 6. Le capital social est fixé à DOUZE MILLE QUATRE CENTS EURO (Euro 12.400,-) représenté par CENT (100)
parts sociales de CENT VINGT-QUATRE EURO (Euro 124,-) chacune.
Toutes ces parts ont été entièrement souscrites par l'associé unique
Ces parts ont été intégralement libérées par des versements en espèces, de sorte que la somme de DOUZE MILLE
QUATRE CENTS EURO (Euro 12.400,-) se trouve dès à présent à la libre disposition de la société, ainsi qu'il en a été
justifié au notaire instrumentaire qui le constate expressément.
Art. 7. Chaque part sociale donne droit à une fraction proportionnelle dans l'actif social et dans les bénéfices.
Art. 8.
a) La cession entre vifs:
Tant que la société ne comprendra qu'un associé, celui-ci sera libre de céder tout ou partie des parts à qui il entend.
b) La transmission pour cause de mort:
Le décès de l'associé unique n'entraîne pas la dissolution de la société. Si l'associé unique n'a laissé aucune disposition
de dernières volontés concernant l'exercice des droits afférents aux parts sociales, lesdits droits seront exercés par les
héritiers et légataires régulièrement saisis ou envoyés en possession, proportionnellement à leurs droits dans la succes-
sion, jusqu'au partage desdites parts ou jusqu'à la délivrance de legs portant sur celles-ci.
Pour le cas où il y aurait des parts sociales non proportionnellement partageables, lesdits héritiers et légataires auront
l'obligation pour lesdits parts sociales de désigner un mantaire.
Art. 9. La société est administrée par un ou plusieurs gérants, associés ou non, choisis par l'associé qui fixe leurs
pouvoirs. Ils peuvent être à tout moment révoqués par décision des associés.
A moins que l'associé n'en décide autrement, le ou les gérants ont les pouvoirs les plus étendus pour agir au nom de
la société en toutes circonstances.
Art. 10. Simples mandataires de la société, le ou les gérants ne contractent en raison de leurs fonctions aucune obli-
gation personnelle relativement à celles-ci, ils ne seront responsables que de l'exécution de leur mandat.
Art. 11. Chaque année, le 31 décembre, il sera dressé un inventaire de l'actif et du passif de la société. Le bénéfice net
constaté, déduction faite des frais généraux, traitements et amortissements, sera réparti de la façon suivante:
- cinq pour cent (5,00 %) pour la constitution d'un fonds de réserve légal, dans la mesure des dispositions légales;
- le solde restera à la libre disposition de l'associé.
Art. 12. En cas de dissolution de la société, la liquidation sera faite par un ou plusieurs liquidateurs, associés ou non,
désignés par les associés.
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Art. 13. Pour tout ce qui n'est pas prévu aux présents statuts, les parties s'en réfèrent aux dispositions légales.
<i>Fraisi>
Le montant des frais généralement quelconques incombant à la société en raison de sa constitution s'élève approxi-
mativement à MILLE DEUX CENT CINQUANTE EURO (Euro 1.250,-).
<i>Assemblée généralei>
Et à l'instant, l'associé unique, agissant en lieu et place de l'assemblée générale, fait désigner lui-même comme gérant
unique.
Il peut engager valablement la société sans limitation de sommes.
Le siège social est établi à L-5975 Itzig, 24 Cité Bernard Simminger.
Avant la clôture du présent acte le notaire instrumentaire soussigné a attiré l'attention des constituants sur la nécessité
d'obtenir une autorisation administrative pour exercer les activités décrites dans l'objet social.
DONT ACTE, fait et passé à Bettembourg, en l'étude.
Et après lecture faite et interprétation donnée aux comparants, tous connus du notaire instrumentaire par nom,
prénom usuel, état et demeure, ils ont tous signé le présent acte avec le notaire.
Signé: S Ciyow, C. Doerner.
Enregistré à Esch/Alzette A.C. le 27 mars 2012. Relation: EAC/2012/4011. Reçu soixante-quinze euros (75.- EUR).
<i>Le Receveuri>
(signé): M. Halsdorf.
POUR EXPEDITION CONFORME, délivrée à la société sur demande au fin de l'inscription au Registre de Commerce
et des Sociétés.
Bettembourg, le 18 avril 2012.
Christine DOERNER.
Référence de publication: 2012049047/90.
(120064402) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
DS Care S.A., Société Anonyme.
Siège social: L-1728 Luxembourg, 14, rue du Marché-aux-Herbes.
R.C.S. Luxembourg B 135.455.
<i>Extrait du procès-verbal de l'assemblée générale ordinaire des actionnaires tenue extraordinaire tenue à Luxembourg en date dui>
<i>20 avril 2012i>
Il résulte du procès-verbal de l'assemblée générale que:
- L'assemblée générale décide de renouveler le mandat de la société:
* Kohnen & Associés S.à.r.l, ayant son siège social 62, avenue de la liberté L-1930 Luxembourg, inscrite auprès du
registre de commerce et des sociétés de Luxembourg, sous le numéro B 114.190.
en qualité de commissaire aux comptes avec effet immédiat.
Son mandat prendra fin à l'issue de l'Assemblée Générale Ordinaire qui approuvera les comptes annuels au 31 dé-
cembre 2012.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 23 avril 2012.
<i>Pour DS Care S.A.
i>Signature
<i>Mandatairei>
Référence de publication: 2012048174/21.
(120065071) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2012.
Betsy S.A., Société Anonyme.
Siège social: L-2449 Luxembourg, 5, boulevard Royal.
R.C.S. Luxembourg B 82.471.
L'an deux mille douze, le vingt-huit mars.
Par-devant Maître Gérard LECUIT, notaire de résidence à Luxembourg.
S'est réunie une assemblée générale extraordinaire des actionnaires de la société anonyme BETSY S.A., ayant son siège
social à L-2449 Luxembourg, 8, boulevard Royal, R.C.S. Luxembourg section B numéro 82.471, constituée suivant acte
reçu par le notaire Jean-Joseph WAGNER le 8 juin 2001, publié au Mémorial Recueil des Sociétés et Associations numéro
1191 du 19 décembre 2001. Les statuts ont été modifiés à différentes reprises et en dernier lieu suivant l'assemblée
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générale extraordinaire tenue par acte notarié du 6 juin 2005, publié au Recueil Spécial du Mémorial C, numéro 76 du
12 janvier 2006.
L'assemblée est présidée par Monsieur Benoit TASSIGNY, juriste, demeurant professionnellement à Luxembourg..
Le président désigne comme secrétaire, Monsieur Mustafa NEZAR, juriste, demeurant professionnellement à Luxem-
bourg.
L'assemblée choisit comme scrutateur, Madame Catherine L'HOTE-TISSIER, avocat, demeurant à L-2449 Luxembourg,
5, boulevard Royal.
Le président prie le notaire d'acter que:
I. Les actionnaires présents ou représentés et le nombre d'actions qu'ils détiennent sont renseignés sur une liste de
présence, qui sera signée, ci-annexée ainsi que les procurations, le tout enregistré avec l'acte.
II. Qu'il appert de la liste de présence que les 310 (trois cent dix) actions représentant l'intégralité du capital social,
sont représentées à la présente assemblée générale extraordinaire, de sorte que l'assemblée peut décider valablement
sur tous les points portés à l'ordre du jour.
III. Que l'ordre du jour de l'assemblée est le suivant:
<i>Ordre du jour:i>
1. Constatation que la société est détenue par un actionnaire unique.
2. Modification des statuts de la société afin de permettre la nomination d'un administrateur unique.
3. Modification subséquente des articles 4 et 5 des statuts
4. Suppression des paragraphes 5 et suivants de l'article 3 des Statuts
Ces faits exposés et reconnus exacts par l'assemblée, cette dernière a pris, à l'unanimité, les résolutions suivantes:
<i>Première résolutioni>
L'assemblée générale constate que l'intégralité du capital social de la société est détenue par un actionnaire unique.
<i>Deuxième résolutioni>
L'actionnaire unique décide de modifier les statuts de la société afin de permettre la nomination d'un administrateur
unique conformément à l'article 51 de la loi du 10 août 1915 concernant les sociétés commerciales qui permet de limiter
la composition du conseil d'administration à un membre lorsque la société n'est constituée que par un associé unique.
<i>Troisième résolutioni>
En conséquence de la résolution précédente, l'actionnaire unique déclare modifier les articles 4 et 5 des statuts comme
suit:
" Art. 4. La Société pourra être administrée par un seul administrateur à sa seule discrétion, et ce, tant qu'elle aura un
seul actionnaire.
Dans l'hypothèse où la Société a plusieurs actionnaires, elle sera administrée par trois administrateurs au moins nom-
més par l'assemblée générale. Si plusieurs administrateurs ont été nommés, ils constitueront un conseil d'administration.
Les administrateurs, actionnaires ou non, sont nommés par l'assemblée générale pour un terme ne pouvant dépasser
six années et en tout temps révocables par elle.
Le nombre des administrateurs, la durée de leur mandat et leurs émoluments sont fixés par l'assemblée générale des
actionnaires."
" Art. 5. L'administrateur unique ou, en cas de pluralité d'administrateurs, le conseil d'administration est investi des
pouvoirs les plus étendus pour faire tous les actes d'administration et de disposition conformément à l'objet social de la
Société.
Lorsque la Société est administrée par un conseil d'administration, ce dernier choisira un président parmi ses membres.
Le conseil d'administration se réunit sur convocation du président, aussi souvent que l'intérêt de la Société l'exige. Il
doit être convoqué chaque fois que deux administrateurs le demandent.
Chaque administrateur de la Société peut agir à toute réunion du conseil d'administration en désignant par écrit ou
par câble, télégramme, télex, téléfax ou tous autres moyens de communication électronique, un autre membre du conseil
d'administration comme son mandataire.
Le conseil d'administration ne peut délibérer ou agir valablement que si au moins la majorité de ses membres est
présente en personne ou par mandataire.
Tout membre du conseil d'administration qui participe à une réunion du conseil d'administration via un moyen de
communication (incluant le téléphone ou une vidéo conférence) qui permet aux autres membres du conseil d'adminis-
tration présents à cette réunion (soit en personne, soit par mandataire ou au moyen de ce type de communication)
d'entendre à tout moment ce membre et permettant à ce membre d'entendre à tout moment les autres membres sera
considéré comme étant présent en personne à cette réunion et sera pris en compte pour le calcul du quorum et autorisé
à voter sur les matières traitées à cette réunion.
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Les membres du conseil d'administration qui participent à une réunion du conseil d'administration via un tel moyen
de communication ratifieront leurs votes exprimés de cette façon en signant une copie du procès-verbal de cette réunion.
Les résolutions seront adoptées si elles ont été prises à la majorité des votes des membres présents soit en personne,
soit par mandataire à une telle réunion. En cas de partage, la voix du président est prépondérante.
Les résolutions circulaires signées par tous les membres du conseil d'administration seront considérées comme étant
valablement adoptées comme si une réunion valablement convoquée avait été tenue. Ces signatures pourront être ap-
posées sur un document unique ou sur des copies multiples d'une résolution identique.
Le conseil d'administration peut déléguer la gestion journalière de la Société à un ou plusieurs administrateurs qui
seront appelés administrateurs-délégués.
L'administrateur unique ou, selon le cas, le conseil d'administration peut aussi confier la gestion d'une branche spéciale
de la Société à un ou plusieurs directeurs, et donner des pouvoirs spéciaux pour l'accomplissement de tâches précises à
un ou plusieurs mandataires, choisis parmi ses propres membres ou non, actionnaires ou non.
La Société sera engagée en toutes circonstances par la seule signature de son administrateur unique ou, en cas de
pluralité d'administrateurs, par la signature conjointe de deux administrateurs, à moins que des décisions spéciales con-
cernant la signature autorisée en cas de délégation de pouvoirs n'aient été prises par l'administrateur unique ou par le
conseil d'administration conformément aux paragraphes précédents.
Tous les pouvoirs qui ne sont pas expressément réservés par la loi ou par les présents Statuts à l'assemblée générale
des actionnaires sont de la compétence du conseil d'administration."
<i>Quatrième résolutioni>
L'Assemblée générale décide également de supprimer les paragraphes 5 et suivants de l'article 3 des Statuts de sorte
que cet article aura dorénavant la teneur suivante:
" Art. 3. Le capital social est fixé à trente et un mille euros (EUR 31.000,-) divisé en trois cent dix (310) actions de
cent euros (EUR 100,-) chacune.
Les actions sont nominatives ou au porteur, au choix de l'actionnaire, à l'exception de celles pour lesquelles la loi
prescrit la forme nominative.
Les actions de la société peuvent être créées, au choix du propriétaire, en titres unitaires ou en certificats représentatifs
de plusieurs actions.
En cas d'augmentation du capital social les droits attachés aux actions nouvelles seront les mêmes que ceux dont
jouissent les actions anciennes."
Plus rien n'étant prévu à l'ordre du jour, la séance est levée.
<i>Fraisi>
Le montant des frais, dépenses, rémunérations et charges, sous quelque forme que ce soit, qui incombent à la société
à raison des présentes est évalué à environ NEUF CENTS EUROS (900,- EUR).
DONT ACTE, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture faite et interprétation donnée à la comparante, aux membres du bureau, tous connus du notaire par
leurs nom, prénoms, état et demeure, ils ont signé le présent acte avec le notaire.
Signé: B. TASSIGNY, M. NEZAR, C. L'HOTE-TISSIER, G. LECUIT.
Enregistré à Luxembourg Actes Civils, le 30 mars 2012. Relation: LAC/2012/14835. Reçu soixante-quinze euros (EUR
75,-).
<i>Le Receveuri> (signé): I. THILL.
POUR EXPEDITION CONFORME, délivrée aux fins de publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 23 avril 2012.
Référence de publication: 2012048099/109.
(120065372) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2012.
Asset Backed-H S.A., Société Anonyme.
Siège social: L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 142.280.
Les comptes annuels au 30 septembre 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
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<i>Pour Asset Backed-H SA
i>Caceis Bank Luxembourg
Signature
Référence de publication: 2012047542/12.
(120064473) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Asset Backed-J S.A., Société Anonyme.
Siège social: L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 142.440.
Les comptes annuels au 30 septembre 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
<i>Pour Asset Backed-J SA
i>Caceis Bank Luxembourg
Signature
Référence de publication: 2012047543/12.
(120064472) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Companhia Global de Imóveis, Société à responsabilité limitée.
Capital social: USD 35.765.296,00.
Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.
R.C.S. Luxembourg B 168.180.
La Société note que les informations concernant M. Johannes, gérant de catégorie B de la Société, sont à corriger
auprès du Registre de Commerce et des Sociétés de Luxembourg:
a) Nom: BREKELMANS;
b) Prénom: Richard.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Companhia Global de Imóveis
<i>Un mandatairei>
Référence de publication: 2012047596/15.
(120064203) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Companhia Global de Varejo, Société à responsabilité limitée.
Capital social: USD 15.268.953,97.
Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.
R.C.S. Luxembourg B 168.179.
La Société note que les informations concernant M. Johannes, gérant de catégorie B de la Société, sont à corriger
auprès du Registre de Commerce et des Sociétés de Luxembourg:
a) Nom: BREKELMANS;
b) Prénom: Richard.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Companhia Global de Varejo
<i>Un mandatairei>
Référence de publication: 2012047597/15.
(120064204) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Auberge THILLSMILLEN S.à r.l., Société à responsabilité limitée.
Siège social: L-8212 Mamer, 30, rue Baerendall.
R.C.S. Luxembourg B 26.383.
Les comptes annuels au 31 décembre 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
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Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Signature.
Référence de publication: 2012047545/10.
(120064492) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Abelton Invest S.A., Société Anonyme.
Siège social: L-1471 Luxembourg, 412F, route d'Esch.
R.C.S. Luxembourg B 121.731.
Les comptes annuels au 30 juin 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
ABELTON INVEST S.A.
Signatures
<i>Administrateur / Administrateuri>
Référence de publication: 2012047546/12.
(120064592) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Henderson Joint Ventures Property Funds Management S.à r.l., Société à responsabilité limitée.
Capital social: EUR 125.000,00.
Siège social: L-2530 Luxembourg, 4A, rue Henri M. Schnadt.
R.C.S. Luxembourg B 131.972.
EXTRAIT
Il résulte de la décision du seul associé de la Société prise le 9 mars 2012 que Monsieur Andrew Richard Charles
Friend, né le 25 décembre 1965 à Sleaford, Royaume Uni et demeurant au 1, Brandon Road, Girton, Cambridge CB3
0LU, Royaume Uni, a été nommé en qualité de Gérant de la Société avec effet au 9 mars 2012 pour une durée indéter-
minée.
Au terme de cette nomination, la composition du Conseil de Gérance est désormais la suivante:
- Jeremy Vickerstaff
- William Anderson
- John Sutherland
- Andrew Friend
Référence de publication: 2012047705/18.
(120064223) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Abita Luxembourg S.A., Société Anonyme.
Siège social: L-8064 Bertrange, 62, Cité Millewee.
R.C.S. Luxembourg B 106.613.
Les comptes annuels au 31.12.2010 ont été déposés 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.
Krieger Jean-Claude
<i>Le Cabinet Comptablei>
Référence de publication: 2012047547/12.
(120064285) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
ABN AMRO MeesPierson Investments (Luxembourg) S.A., Société Anonyme.
Siège social: L-2551 Luxembourg, 125, avenue du X Septembre.
R.C.S. Luxembourg B 55.116.
Les comptes annuels au 31 décembre 2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
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<i>Pour ABN AMRO MeesPierson Investments (Luxembourg) S.A.
i>Intertrust (Luxembourg) S.A.
Référence de publication: 2012047548/11.
(120064277) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
AM & FH S.à r.l., Société à responsabilité limitée.
Enseigne commerciale: B & S Café Bar.
Siège social: L-4271 Esch-sur-Alzette, 24, rue Jean Origer.
R.C.S. Luxembourg B 164.755.
Statuts coordonnés déposés 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.
Référence de publication: 2012047552/11.
(120064172) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Muellux Holding Company II S.à r.l., Société à responsabilité limitée.
Siège social: L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte.
R.C.S. Luxembourg B 149.969.
<i>Extrait des décisions prises par l’associée unique en date du 2 avril 2012i>
1. Madame Adela IANCU a démissionné de son mandat de gérante de catégorie B.
2. Monsieur Hugo FROMENT a démissionné de son mandat de gérant de catégorie B.
3. Monsieur Pierre CLAUDEL, administrateur de sociétés, né à Schiltigheim (France), le 23 mai 1978, demeurant
professionnellement à L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte, a été nommé comme gérant de
catégorie B pour une durée indéterminée.
4. Monsieur Alberto MORPURGO, administrateur de sociétés, né à Trieste (Italie), le 31 janvier 1972, demeurant
professionnellement à L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte, a été nommé comme gérant de
catégorie B pour une durée indéterminée.
Luxembourg, le 23 avril 2012.
Pour extrait sincère et conforme
<i>Pour Muellux Holding Company II S.àr.l.
i>Intertrust (Luxembourg) S.A.
Référence de publication: 2012047816/20.
(120064362) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
ROLLINGER Chauffage/Sanitaire, Société Anonyme.
Siège social: L-7333 Steinsel, 50, rue des Prés.
R.C.S. Luxembourg B 117.654.
<i>Extrait des résolutions prises par l'Assemblée Générale tenue le 25 avril 2012.i>
Il a été décidé de:
Le renouvellement au poste d'administrateur Monsieur ROLLINGER Serge, demeurant 30 Rue des Chapelles L-7421
Cruchten. Son mandat prendra fin à l'assemblée générale annuelle qui se tiendra en 2017.
Le renouvellement au poste d'administrateur Monsieur ROLLINGER Nico, demeurant 50 rue des Prés L-7246 Hel-
mange. Son mandat prendra fin à l'assemblée générale annuelle qui se tiendra en 2017.
Le renouvellement au poste d'administrateur Monsieur COLLARD Christian, demeurant 8 Buerweier L-8274 Kehlen.
Son mandat prendra fin à l'assemblée générale annuelle qui se tiendra en 2017.
Le renouvellement au poste d'administrateur délégué Monsieur COLLARD Christian, demeurant 8 Buerweier L-8274
Kehlen. Son mandat prendra fin à l'assemblée générale annuelle qui se tiendra en 2017.
Le renouvellement au poste de commissaire aux comptes Monsieur SCHERER Jean-Jacques, demeurant 55-57 Rue de
Merl L-2146 Luxembourg. Son mandat prendra fin à l'assemblée générale annuelle qui se tiendra en 2017.
La révocation ad nutum de Monsieur HUSTER hans-Léo, demeurant 5 A Rue des Dahlias L-1411 Luxembourg de son
poste de Résiveur d'entreprises agrée avec effet immédiat.
Cette décision n'emporte pas de modification statutaire.
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Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 25 avril 2012.
Référence de publication: 2012048906/24.
(120066562) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.
Amundi Interinvest, Société d'Investissement à Capital Variable.
Siège social: L-2520 Luxembourg, 5, allée Scheffer.
R.C.S. Luxembourg B 26.004.
<i>Extrait du Procès-verbal de l'Assemblée Générale Ordinaire tenue au Siège Social le 23 mars 2012i>
En date du 23 mars 2012, l'Assemblée Générale Ordinaire a décidé de:
- Résilier le mandat du Réviseur d'Entreprises, Ernst & Young, et de donner mandat à Deloitte Audit S.à.r.l.; 560 rue
de Neudorf, Luxembourg (L-2220); pour réviser ses comptes à compter de l'exercice clos le 31 mars 2012 et jusqu'à la
prochaine assemblée générale annuelle qui se tiendra en 2012.
Luxembourg, le 13 avril 2012.
Pour extrait sincère et conforme
<i>POUR LE CONSEIL D'ADMINISTRATION
i>Giorgio Gretter
<i>General Manageri>
Référence de publication: 2012047553/17.
(120064421) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Apulia S.A., Société Anonyme.
Siège social: L-5401 Ahn, 7, route du Vin.
R.C.S. Luxembourg B 148.212.
Les comptes annuels au 31 décembre 2010 ont été déposés 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: 2012047558/10.
(120064574) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Transports Dahirel S.à.r.l., Société à responsabilité limitée.
Siège social: L-3378 Livange, Z.I. rue de Bettembourg.
R.C.S. Luxembourg B 168.276.
STATUTS
L'an deux mille douze, le dix-sept avril.
Pardevant Maître Henri BECK, notaire de résidence à Echternach (Grand-Duché de Luxembourg), soussigné;
A COMPARU:
Monsieur Thierry DAHIREL, gérant de sociétés, demeurant à F-89500 Villeneuve-sur-Yonne, Le Clos Maillet, Chemin
des Ronces.
Lequel comparant a requis le notaire instrumentaire de dresser acte constitutif d'une société à responsabilité limitée
qu'il déclare constituer entre eux et dont ils ont arrêté les statuts comme suit:
Titre I
er
. - Objet - Raison sociale - Durée
Art. 1
er
. Il est formé par la présente une société à responsabilité limitée qui sera régie par les lois y relatives, ainsi
que par les présents statuts.
Art. 2. La société prend la dénomination de TRANSPORTS DAHIREL S.à.r.l..
Art. 3. La société a pour objet le transport de marchandises, et l'affrètement
Dans le cadre de son activité, la société pourra accorder hypothèque, emprunter avec ou sans garantie ou se porter
caution pour d'autres personnes morales et physiques, sous réserve des dispositions légales afférentes.
Elle pourra effectuer toutes opérations commerciales, financières, mobilières et immobilières se rapportant directe-
ment ou indirectement à l'objet ci-dessus et susceptibles d'en faciliter l'extension ou le développement.
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Art. 4. Le siège social est établi à Livange Il pourra être transféré en tout autre lieu du Grand-Duché de Luxembourg
par simple décision des associés.
Art. 5. La durée de la société est illimitée.
Titre II. - Capital social - Parts sociales
Art. 6. Le capital social est fixé à DOUZE MILLE CINQ CENTS EUROS (€ 12.500.-), représenté par cent (100) parts
sociales d'une valeur nominale de CENT VINGT-CINQ EUROS (€ 125.-) chacune, entièrement souscrites par Monsieur
Thierry DAHIREL, gérant de sociétés, demeurant à F-89500 Villeneuve-sur-Yonne, Le Clos Maillet, Chemin des Ronces.
Le capital social pourra, à tout moment, être augmenté ou diminué dans les conditions prévues par l'article 199 de la
loi concernant les sociétés commerciales.
Art. 7. Les parts sociales sont librement cessibles entre associés. Elles ne peuvent être cédées entre vifs ou pour cause
de mort à des non-associés que moyennant l'accord unanime de tous les associés.
En cas de cession à un non-associé, les associés restants ont un droit de préemption. Ils doivent l'exercer dans les
trente (30) jours à partir de la date du refus de cession à un non-associé. En cas d'exercice de ce droit de préemption,
la valeur de rachat des parts est calculée conformément aux dispositions des alinéas 6 et 7 de l'article 189 de la loi sur
les sociétés commerciales.
Art. 8. Le décès, l'interdiction, la faillite ou la déconfiture de l'un des associés ne mettent pas fin à la société.
Les créanciers, ayants-droit ou héritiers d'un associé ne pourront pour quelque motif que ce soit, faire apposer des
scellés sur les biens et documents de la société, ni s'immiscer en aucune manière dans les actes de son administration;
pour faire valoir leurs droits, ils devront se tenir aux valeurs constatées dans les derniers bilan et inventaire de la société.
Titre III. - Administration et Gérance
Art. 9. La société est administrée par un ou plusieurs gérants, associés ou non, nommés et révocables à tout moment
par l'assemblée générale qui fixe leurs pouvoirs et leurs rémunérations.
Art. 10. Chaque associé peut participer aux décisions collectives quel que soit le nombre de parts qui lui appartiennent.
Chaque associé a un nombre de voix égal au nombre de parts sociales qu'il possède et peut se faire valablement repré-
senter aux assemblées par un porteur de procuration spéciale.
Art. 11. Les décisions collectives ne sont valablement prises que pour autant qu'elles sont adoptées par les associés
représentant plus de la moitié du capital social.
Les décisions collectives ayant pour objet une modification aux statuts doivent réunir la majorité des associés repré-
sentant les trois quarts (3/4) du capital social.
Art. 12. Lorsque la société ne comporte qu'un seul associé, les pouvoirs attribués par la loi ou les statuts à l'assemblée
générale sont exercés par l'associé unique.
Les décisions prises par l'associé unique, en vertu de ces pouvoirs, sont inscrites sur un procès-verbal ou établies par
écrit.
De même, les contrats conclus entre l'associé unique et la société représentée par lui sont inscrits sur un procès-
verbal ou établies par écrit.
Cette disposition n'est pas applicable aux opérations courantes conclues dans des conditions normales.
Art. 13. Le ou les gérants ne contractent, en raison de leur fonction, aucune obligation personnelle relativement aux
engagements régulièrement pris par eux au nom de la société; simples mandataires, ils ne sont responsables que de
l'exécution de leur mandat.
Art. 14. Chaque année, le trente et un décembre, les comptes sont arrêtés et le ou les gérants dressent un inventaire
comprenant l'indication des valeurs actives et passives de la société.
Art. 15. Tout associé peut prendre au siège social de la société communication de l'inventaire et du bilan.
Art. 16. Les produits de la société constatés dans l'inventaire annuel, déduction faite des frais généraux, amortissements
et charges, constituent le bénéfice net.
Sur le bénéfice net, il est prélevé cinq pour cent pour la constitution du fonds de réserve légale jusqu'à ce que celui-
ci ait atteint dix pour cent du capital social.
Une partie du bénéfice disponible pourra être attribuée à titre de gratification aux gérants par décision des associés.
Art. 17. L'année sociale commence le premier janvier et finit le trente et un décembre.
Titre IV. - Dissolution - Liquidation
Art. 18. Lors de la dissolution de la société, la liquidation sera faite par un ou plusieurs liquidateurs, associés ou non,
nommés par les associés qui en fixeront les pouvoirs et les émoluments.
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Titre V. - Dispositions générales
Art. 19. Pour tout ce qui n'est pas prévu dans les présents statuts, les associés se réfèrent aux dispositions légales.
<i>Disposition transitoirei>
Par dérogation, le premier exercice commence aujourd'hui et finira le 31 décembre 2012.
<i>Libération de parts socialesi>
Toutes les parts sociales ont été libérées intégralement en numéraire de sorte que la somme de DOUZE MILLE CINQ
CENTS EUROS (€ 12.500.-) se trouve dès-à-présent à la libre disposition de la société, ainsi qu'il en a été justifié au
notaire instrumentaire qui le constate expressément.
<i>Fraisi>
Le montant des frais, dépenses, rémunérations et charges, sous quelque forme que ce soit, qui incombent à la société
ou qui sont mis à sa charge, à raison de sa constitution, est évalué à environ mille Euros (€ 1.000.-).
<i>Assemblée générale extraordinairei>
Et aussitôt l'associé unique représentant l'intégralité du capital social, a pris en outre les résolutions suivantes:
1.- Le siège social est établi à L-3378 Livange, Zone Industrielle, Route de Bettembourg.
2.- Est nommé gérant de la société pour une durée indéterminée:
Monsieur Thierry DAHIREL, gérant de sociétés, né à Créteil (France), le 27 mai 1978, demeurant à F-89500 Villeneuve-
sur-Yonne, Le Clos Maillet, Chemin des Ronces.
3.- La société est valablement engagée en toutes circonstances par la signature individuelle du gérant.
<i>Déclarationi>
Le notaire instrumentant a rendu attentif le comparant au fait qu'avant toute activité commerciale de la société pré-
sentement fondée, celle-ci doit être en possession d'une autorisation de commerce en bonne et due forme en relation
avec l'objet social, ce qui est expressément reconnu par le comparant.
DONT ACTE, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture faite et interprétation donnée au comparant, connu du notaire par nom, prénom usuel, état et de-
meure, il a signé avec Nous notaire le présent acte.
Signé: T. DAHIREL, Henri BECK.
Enregistré à Echternach, le 18 avril 2012. Relation: ECH/2012/651. Reçu soixante-quinze euros 75,00 €.
<i>Le Receveuri> (signé): J.-M. MINY.
POUR EXPEDITION CONFORME, délivrée à demande, aux fins de dépôt au registre de commerce et des sociétés.
Echternach, le 20 avril 2012.
Référence de publication: 2012047420/105.
(120063995) Déposé au registre de commerce et des sociétés de Luxembourg, le 20 avril 2012.
Anatevka, Société Anonyme.
Siège social: L-2449 Luxembourg, 22-24, boulevard Royal.
R.C.S. Luxembourg B 95.132.
Les statuts coordonnés au 14/02/2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012047554/9.
(120064198) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Anoa Capital S.A., Société Anonyme.
Siège social: L-1637 Luxembourg, 5, rue Goethe.
R.C.S. Luxembourg B 155.833.
Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012047555/9.
(120064423) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
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Immo FF Project, Société à responsabilité limitée.
Siège social: L-7540 Rollingen, 113, rue de Luxembourg.
R.C.S. Luxembourg B 165.744.
<i>Extrait du procès-verbal de l'assemblée générale extraordinaire des associés tenue en date du 23 avril 2012, à L-7540 ROLLINGEN,i>
<i>rue de Luxembourg, 113i>
Il résulte des résolutions prisent lors de l'assemblée générale extraordinaire, tenue à ROLLINGEN, le 23 avril 2012,
que:
1) Monsieur Guy KARTHEISER, né à ETTELBRÜCK, le 5 novembre 1964, demeurant à L-9192 DIEKIRCH, rue Wa-
lebroch, 10, est nommé au poste de gérant technique, pour une durée indéterminée, avec tous les pouvoirs pour engager
valablement la société avec sa seule signature.
2) Monsieur Romain FOHL, née à LUXEMBOURG, le 8 avril 1961, demeurant à L-7465 NOMMERN, rue Principale,
21, est nommé au poste de gérant administratif, pour une durée indéterminée.
Signature
<i>Un mandatairei>
Référence de publication: 2012047732/18.
(120065019) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Fracasse, Société Anonyme.
Siège social: L-1653 Luxembourg, 2, avenue Charles de Gaulle.
R.C.S. Luxembourg B 110.531.
<i>Extrait des résolutions prises lors de l’assemblée générale ordinaire tenue extraordinairement le 19 avril 2012i>
Sont nommés administrateurs, leurs mandats prenant fin lors de l'assemblée générale ordinaire statuant sur les comptes
annuels au 31 décembre 2016:
- Monsieur Luc HANSEN, licencié en administration des affaires, demeurant professionnellement au 2, avenue Charles
de Gaulle, L-1653 Luxembourg, Président;
- Monsieur Pierre LENTZ, licencié en sciences économiques, demeurant professionnellement au 2, avenue Charles de
Gaulle, L-1653 Luxembourg;
- Monsieur Philippe PONSARD, ingénieur commercial, demeurant professionnellement au 2, avenue Charles de Gaulle,
L-1653 Luxembourg.
Le mandat de Monsieur Claude SCHMITZ n’est pas renouvelé.
Est nommé commissaire aux comptes, son mandat prenant fin lors de l'assemblée générale ordinaire statuant sur les
comptes annuels au 31 décembre 2016:
- AUDIEX S.A., société anonyme, 9, rue du Laboratoire, L-1911 Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 19 avril 2012.
Référence de publication: 2012048734/22.
(120066624) Déposé au registre de commerce et des sociétés de Luxembourg, le 25 avril 2012.
Tri Investments European Residential Property Fund S.àr.l., Société à responsabilité limitée.
Siège social: L-1653 Luxembourg, 2-8, avenue Charles de Gaulle.
R.C.S. Luxembourg B 110.049.
Par le présent avis, le gérant informe tes tiers du changement de dénomination sociale de l'associé unique de la Société,
Huet Capital investment Funds ICVC, immatriculée au Royaume-Uni sous le numéro IC000391, désormais Host Capital
investment Funds ICVC, Société d'investissement a capital variable dont le siège est toujours établi au 73 New Bond
Street, GB-W1S 1RS Londres.
Luxembourg, le 23 Avril 2012.
Luxembourg Corporation Company SA
Signatures
Référence de publication: 2012047940/14.
(120064658) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 avril 2012.
Editeur:
Service Central de Législation, 43, boulevard F.-D. Roosevelt, L-2450 Luxembourg
Imprimeur: Association momentanée Imprimerie Centrale / Victor Buck
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Abelton Invest S.A.
Abita Luxembourg S.A.
ABN AMRO MeesPierson Investments (Luxembourg) S.A.
Allianz Infrastructure Luxembourg II SICAF-FIS
Allianz Infrastructure Luxembourg I SICAV-FIS
Allianz Private Equity Luxembourg II SICAV-FIS
Allianz Private Equity Luxembourg I SICAV-FIS
AltaFund Invest II S.à r.l.
AltaFund Value-Add I
Amaranthe Octogone S.à r.l.
AM & FH S.à r.l.
Amundi Interinvest
Anatevka
Anoa Capital S.A.
Apulia S.A.
Aquarius S.a.
Asset Backed-B S.A.
Asset Backed-D S.A.
Asset Backed-H S.A.
Asset Backed-J S.A.
Auberge THILLSMILLEN S.à r.l.
Betsy S.A.
Companhia Global de Imóveis
Companhia Global de Varejo
DS Care S.A.
EDC Luxembourg S.à r.l.
Ergan S.à r.l.
Fracasse
Froidchapelle S.A.
Geram International S.A.
Henderson Joint Ventures Property Funds Management S.à r.l.
Immo FF Project
Interlux Info
JDA S.à r.l.
Magalo Trading sàrl
Muellux Holding Company II S.à r.l.
Muellux Holding Company I S.à r.l.
Next Am Fund
Next Am Fund
Nordea Life & Pensions S.A.
ROLLINGER Chauffage/Sanitaire
Rosemill Estate S.A.
Transports Dahirel S.à.r.l.
Tri Investments European Residential Property Fund S.àr.l.