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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° 2782
16 novembre 2012
SOMMAIRE
2gether, société coopérative . . . . . . . . . . . .
133532
aeris CAPITAL Sustainable Impact . . . . . .
133513
aPRIVA S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .
133517
Cargolux Airlines International S.A. . . . . .
133526
Cedarville S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .
133534
Fidugia S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133515
F.M. Auto-Immo S.à r.l. . . . . . . . . . . . . . . . . .
133533
Global Climate Partnership Fund SA, SI-
CAV-SIF . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133490
Intelec Investments S.A. . . . . . . . . . . . . . . . .
133519
Ivry S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133512
Lion/Gem Luxembourg 3 S.à r.l. . . . . . . . . .
133520
LIS S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133520
Lousseau Holding S.A. . . . . . . . . . . . . . . . . . .
133521
LS Alloys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133529
Lucide Europe S.A. . . . . . . . . . . . . . . . . . . . . .
133522
Lucilinburhuc (LBH) S.A. . . . . . . . . . . . . . . .
133522
Lucilinburhuc (LBH) S.A. . . . . . . . . . . . . . . .
133522
Luxair Finance S.à r.l. . . . . . . . . . . . . . . . . . . .
133524
Luxindus s.à.r.l. . . . . . . . . . . . . . . . . . . . . . . . .
133525
Luxinvest S.A. . . . . . . . . . . . . . . . . . . . . . . . . .
133525
Lux Lettering S.àr.l. . . . . . . . . . . . . . . . . . . . .
133524
Lux Moebel TEC Sàrl . . . . . . . . . . . . . . . . . . .
133524
Luxory S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133525
Lyrane Invest S.A. . . . . . . . . . . . . . . . . . . . . . .
133526
Maclean SPF S.A. . . . . . . . . . . . . . . . . . . . . . .
133527
Mainstay S.àr.l. . . . . . . . . . . . . . . . . . . . . . . . . .
133528
Marianne 2000 S.à r.l. . . . . . . . . . . . . . . . . . . .
133529
Maryline Sàrl . . . . . . . . . . . . . . . . . . . . . . . . . .
133529
MD Mezzanine S.A., SICAR . . . . . . . . . . . . .
133529
Mediobanca International Immobilière S.à
r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133529
Mediterranée S.A. . . . . . . . . . . . . . . . . . . . . . .
133534
Mediterranée S.A. . . . . . . . . . . . . . . . . . . . . . .
133532
Mezzaninvest . . . . . . . . . . . . . . . . . . . . . . . . . .
133533
MH Invest S.àr.l. . . . . . . . . . . . . . . . . . . . . . . .
133535
MH Invest S.àr.l. . . . . . . . . . . . . . . . . . . . . . . .
133535
MIJIM s.àr.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133535
Milanda S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .
133535
Milo S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133514
Mixt S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133527
Moesdorf S.à.r.l. . . . . . . . . . . . . . . . . . . . . . . . .
133521
Moselle Properties S.à r.l. . . . . . . . . . . . . . . .
133527
New Ypso Management Benetti S.C.A. . .
133535
Oxara Italia S.à r.l. . . . . . . . . . . . . . . . . . . . . .
133536
Ozar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133536
PO Participations S.A. . . . . . . . . . . . . . . . . . .
133522
Postcard SA . . . . . . . . . . . . . . . . . . . . . . . . . . .
133512
Steval S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . .
133533
Threadneedle Asset Management Hol-
dings Sàrl . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133521
TRE PIU UNO S.à r.l. . . . . . . . . . . . . . . . . . .
133528
Ultima International S.à r.l. . . . . . . . . . . . . .
133525
VAM Managed Funds (Lux) . . . . . . . . . . . . .
133518
Victor Hugo 2 S.à r.l. . . . . . . . . . . . . . . . . . . .
133523
Westlock S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .
133531
Willii A.G. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
133536
Woodimmo S.A. . . . . . . . . . . . . . . . . . . . . . . .
133524
133489
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U X E M B O U R G
Global Climate Partnership Fund SA, SICAV-SIF, Société d'Investissement à Capital Variable - Fonds
d'Investissement Spécialisé.
Siège social: L-2449 Luxembourg, 14, boulevard Royal.
R.C.S. Luxembourg B 150.193.
IN THE YEAR TWO THOUSAND AND TWELVE,
ON THE THIRTY FIRST OCTOBER
Before Us Maître Cosita DELVAUX, notary, residing in Redange-sur-Attert (Luxembourg).
Was held an extraordinary general meeting of the shareholders of "Global Climate Partnership Fund SA, SICAV-SIF",
a public limited liability company ("société anonyme") qualifying as an investment company with variable share capital -
specialised investment fund ("société d'investissement à capital variable- fonds d'investissement spécialisé"), having its
registered office at L-2449 Luxembourg, 14, boulevard Royal, registered with the trade register Luxembourg under section
B number 150193, incorporated pursuant to a deed of Maître Jean-Joseph Wagner, notary residing in Sanem, on December
22, 2009, published in the Mémorial C, Recueil des Sociétés et Associations number 4 of January 4, 2010, the articles of
which have been amended for the last time pursuant to a deed of the Maître Henri HELLINCKX, notary residing in
Luxembourg, on March 17, 2011, published in the Mémorial C number 1431 of June 30, 2011.
The meeting is presided by Mrs Nicole Hoffmann, employee, professionally residing in Luxembourg, who appoints as
secretary Mrs Lydie Moulard, employee, professionally residing in Luxembourg.
The meeting elected as scrutineer, Mr. Philippe BELCHE, employee, professionally residing in Luxembourg.
The board of the meeting having thus been constituted, the chairman declared and requested the notary to state:
I. The agenda of the extraordinary general meeting is the following:
1. Amendment to the definition of Eligible Investment Vehicle
2. Amendments to the redemption of shares and notes and corresponding amendments to articles 9.2. and 9.5.
3. Amendments to the payment waterfall and corresponding amendments to article 12
4. Removal of transitory provisions / article 38
5. Discarding French translation
6. Recast of the articles of association in accordance with the draft articles of association enclosed to the notice to
shareholders as of August 24, 2012
7. Any other business.
II. That the shareholders present or represented and the number of shares held by each of them are shown on an
attendance list, signed by the chairman, the secretary, the scrutineer and the undersigned notary. The said list as well as
the proxies will be annexed to this document, to be filed with the registration authorities.
III. That the present extraordinary meeting (the "meeting") has been convened by letter sent to the shareholders on
August 24, 2012.
IV. Each resolution of the different points on the agenda has to be adopted by at least two-thirds of the votes cast.
Votes cast shall not include votes attaching to shares in respect of which the shareholder has not taken part in the vote
or has abstained or has returned a blank or invalid vote.
V. It appears from the attendance list that all (100 %) shares are present or represented at the present extraordinary
general meeting.
After the foregoing agenda has been approved by the Meeting, the same unanimously took the following resolutions
after deliberation:
<i>First resolutioni>
The meeting resolved to amend the definition of "Eligible Investment Vehicle" as follows:
"Any local or foreign corporation or partnership or other entity as further detailed in the Issue Document."
<i>Second resolutioni>
The meeting resolved to amend articles 9.2. and 9.5. as follows:
" Art. 9.2. Ordinary redemption of Shares and Notes. Unless otherwise provided for in these Articles, the redemption
price per Share shall be the Net Asset Value per Share of the relevant Class and/or Tranche as of the redemption date
specified by the Board, less such charges and commissions (if any) at the rate provided by the Issue Document for the
Shares. The relevant redemption price may be rounded up or down to the nearest unit of the relevant currency as the
Board shall determine.
The redemption price per Share shall be paid within a period as determined by the Board which shall not exceed thirty
(30) Business Days from the date fixed for the redemption, provided that the transfer documents have been received by
the Fund and subject to the provision of Article 14 hereof.
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Payments for such redeemed Shares will be made either in the Reference Currency of the relevant Class and/or
Tranche of Shares or in any freely convertible currency at the request of the Shareholders. In the latter case, any con-
version costs will be borne by the relevant Shareholder.
Unless otherwise provided for in these Articles, the redemption price per Note will be the nominal value per Note,
as determined in the Issue Document less any charges and commissions (if any), as determined by the Board and provided
for in the Issue Document.
Upon ordinary redemption of Class A Shares or Class B Shares, the Investors will not be entitled to non-allocated
Target Dividend Deficiency Amounts related to those Shares.
Art. 9.5 Common provisions for early/compulsory redemption of Shares and Notes. In case of early/compulsory
redemption of Shares, the redemption price will be equal to the Net Asset Value of such Shares as of the redemption
date plus any accrued and unpaid Target Dividends and complementary dividends, but excluding any entitlement to non-
allocated Target Dividend Deficiency Amounts. Payment of the redemption price will be made by the Fund or its agents
not later than thirty (30) Business Days after the redemption date depending on the available cash in the Fund. If no cash
is available within thirty (30) Business Days, such payment shall be made to such Shareholder when the Fund has sufficient
cash available in the order and priority set below in sub-section (b) of Article 12 hereof.
In the event that the Net Asset Value of any Class and/or Tranche calculated in accordance with Article 13 hereof as
of the redemption date is equal or inferior to EUR 0.00, the Board will redeem the Shares of the relevant Class and/or
Tranche held by such Shareholder for a global redemption price of one USD (EUR 1.00). In the case of future recoveries
of
Investments that were previously written down, the Shareholder shall have no claims to those recovered assets.
In case of early/compulsory redemption of Notes, the redemption price will be equal to the nominal value of the Notes
remaining outstanding plus accrued interest for such Notes as of the redemption date. Payment of the redemption price
will be made by the Fund or its agents not later than thirty (30) Business Days after the redemption date depending on
the available cash in the Fund. If no cash is available within thirty (30) Business Days, such payment shall be made to such
Noteholder when the Fund has sufficient cash available in the order and priority set below in sub-section (b) of Article
12 hereof.
Payment for such Shares or Notes will be made in the relevant Reference Currency or in any freely convertible currency
specified by the Shareholder or the Noteholder. In the last case, any conversion cost shall be borne by the relevant
Shareholder or Noteholder."
<i>Third resolutioni>
The meeting resolved to amend article 12 as follows:
Art. 12. Payment waterfall.
(a) Income Waterfall
For each Valuation Date, after accruing the Direct Operating Expenses, the Investment Management Fee (to the extent
payable) and the interest on the revolving credit facility and then the interest on the Notes and without taking into account
the losses and/or the gains attributable to the Shares as described under Article 6 hereof, the year-to-date net income
(received and/or accrued) of the Fund will be allocated in the following order of priority:
1. Allocation of the year-to-date Target Dividends to the Class A Shares, pro-rata to the Target Dividends for each
Tranche of Class A Shares;
2. Allocation of the Target Dividend Deficiency Amounts for all Tranches of A Shares, if any, pro rata to the Target
Dividend Deficiency Amounts for the respective Tranches of A Shares;
3. Allocation to such Tranches of Class A Shares showing a NAV Deficiency Amount, the amounts necessary to balance
the NAV Deficiency Amounts of such Tranches, pro rata to the NAV Deficiency Amounts of the respective Tranches of
Class A Shares, to be capitalised for such Class A Tranches;
4. Any placing fee due to any placing agent, as further provided for in the Issue Document;
5. Allocation of the year-to-date Target Dividends to the Class B Shares, pro rata to the Target Dividends for each
Tranche of Class B Shares;
6. Allocation of the Target Dividend Deficiency Amounts for all Tranches of B Shares, if any, pro rata to the Target
Dividend Deficiency Amounts for the respective Tranches of B Shares;
7. Allocation to such Tranches of Class B Shares showing a NAV Deficiency Amount, the amounts necessary to balance
the NAV Deficiency Amounts of such Tranches, pro rata to the NAV Deficiency Amounts of the respective Tranches of
Class B Shares, to be capitalised for such Class B Tranches;
8. Allocation of the year-to-date target return to the Class C Shares, such amounts being capitalised for the Class C
Shares;
9. Funding of the Technical Assistance Facility;
10. Investment Manager Performance Fee;
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11. Complementary dividends for the Class A Shares and Class B Shares, pro rata to each respective Tranche issued
multiplied by a weighting factor (Class A Shares factor = 1; Class B Shares factor = 2).
The losses and/or the gains attributable to the Shares as described under article 6 hereof and in the Issue Document
are allocated after the above income waterfall.
The net gains in case of unrealised/realised gains on foreign exchange operations or in case of a write-back of provisions
previously borne by specific Tranches of Shares are allocated to those Tranches of Shares, in addition to their dividends
or capitalised returns calculated as per this sub-section (a).
In case the year-to-date net investment income of the Fund is negative, such negative income will be allocated in the
following order of priority:
1. Allocation of the negative income to the C Shares up to the total Net Asset Value of the C Shares;
2. Allocation of the remaining negative income to the Class B Shares up to the total Net Asset Value of the Class B
Shares;
3. Allocation of the remaining negative income to the Class A Shares up to the total Net Asset Value of the Class A
Shares.
(b) Cash Waterfall
After paying the Direct Operating Expenses, the Investment Management Fee (to the extent payable), the amount due
(principal and interest) under the revolving credit facility and then the interest on the Notes and the redemption amounts
of the Notes, the available cash from the operations of the Fund will be paid in the following order of priority, to the
extent of the available cash and following any early/compulsory redemptions of the Noteholders and/or Shareholders:
1. Payment of annual Target Dividends for the Class A Shares as of 31 December of each calendar year;
2. Payment of the Target Dividend Deficiency Amounts for the Class A Shares allocated to such A Shares as of 31
December of each year;
3. Payment of redemption amounts for the Class A Shares on a "first matured, first redeemed" basis and for redemption
amounts maturing on the same date, pro rata to the redemption amounts;
4. Any placing fee due to any placing agent, as further provided for in the Issue Document;
5. Payment of annual Target Dividends for the Class B Shares as of 31 December of each calendar year;
6. Payment of the Target Dividend Deficiency Amounts for the Class B Shares allocated to such B Shares as of 31
December of each year;
7. Payment of redemption amounts for the Class B Shares on a "first matured, first redeemed" basis and for redemption
amounts maturing on the same date, pro rata to the redemption amounts;
8. Funding of the Technical Assistance Facility;
9. Investment Manager Performance Fee;
10. Payment of complementary dividends for Class A Shares and Class B Shares as of 31 December of each calendar
year.
The payment of the annual Target Dividends, complementary dividends and Target Dividend Deficiency Amounts as
of 31 December of each calendar year is approved by the general meeting of Shareholders. Target Dividends will continue
to accrue on matured Class A Shares and Class B Shares that have not been redeemed due to the lack of available cash.
(c) Liquidation of the Fund
Upon liquidation of the Fund, the moneys will be distributed in the following order of priority to the extent of available
cash in the Fund:
1. Payment of all liabilities related to Direct Operating Expenses (including provisions for future expenses related to
the liquidation of the Fund), Investment Management Fee (to the extent payable) and amounts drawn under the revolving
credit facility;
2. Payment of the interest due on the Notes, pro rata to the interest due on each Tranche of Notes;
3. Payment of the outstanding principal of the Notes;
4. Payment of Target Dividends for the Class A Shares, pro rata to the Target Dividends for each Tranche of Class A
Shares;
5. Payment of the Target Dividend Deficiency Amounts for the Class A Shares, pro rata to the Target Dividend
Deficiency Amounts for the respective Tranches of A Shares;
6. Class A Shares at their respective Net Asset Value on dissolution (which will include the complementary dividend,
if any);
7. Any placing fee due to any placing agent, as further provided for in the Issue Document;
8. Payment of Target Dividends for the Class B Shares, pro rata to the Target Dividends for each Tranche of Class B
Shares;
9. Payment of the Target Dividend Deficiency Amounts for the Class B Shares, pro rata to the Target Dividend
Deficiency Amounts for the respective Tranches of B Shares;
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10. Class B Shares at their respective Net Asset Value on dissolution (which will include the complementary dividend,
if any);
11. Class C Shares at their Net Asset Value on dissolution..
<i>Fourth resolutioni>
The meeting resolved to delete "Article 38 Transitory Dispositions".
<i>Fifth resolutioni>
The general meeting resolved to withdraw the French translation of the articles of association.
<i>Sixth resolutioni>
With respect of the above-mentioned resolutions the meeting resolved to recast the articles of association as follows:
UPDATED ARTICLES OF ASSOCIATION
WITH EFFECT AS OF 1 OCTOBER 2012
Preliminary Title - Definitions
In these articles of incorporation, the following shall have the respective meaning set out below:
"Accounting Currency"
The currency of consolidation of the Fund, i.e. the United States Dollar (USD)
"Administrative Agent"
The administrative agent of the Fund acting in its capacity as administrative
agent, domiciliary and corporate agent, and registrar agent of the Fund in
Luxembourg
"Article"
An article of the Articles
"Articles"
The articles of incorporation of the Fund, as the same may be amended from
time to time
"Auditor"
The qualified independent auditor (réviseur d’entreprises agréé) of the Fund
acting in such capacity
"Board"
The Board of the Fund
"Business Day"
A day on which banks are open for business in Luxembourg
"Class(es)"
All or any of the class(es) of Shares within the Fund, which may be divided into
Tranche(s). Pursuant to the Articles, the Board may decide to issue separate
Classes and Tranches of Shares. The features, terms and conditions shall be
determined from time to time by the Board and further detailed in the Issue
Document
"CSSF"
The Commission de Surveillance du Secteur Financier, the supervisory
authority in Luxembourg
"Custodian"
Such bank or other credit institution within the meaning of the Luxembourg
law dated 5 April 1993 relating to the financial sector, as amended, that may
be appointed as custodian of the Fund
"Defaulting Investor"
An Investor declared as such by the Fund in accordance with Article 8.4 of
these Articles
"Direct Operating Expense"
or "DOE"
Has the meaning ascribed thereto in the Issue Document
"Director"
As at any date, any director (i.e. member of the Board) of the Fund as at that
date
"Eligible Investment Vehicle"
Any local or foreign corporation or partnership or other entity as further
detailed in the Issue Document.
"Eligible Investor"
Institutional Investors, Professional Investors and/or Well-Informed Investors
within the meaning of article 2 of the Law of 13 February 2007 provided that
they are not a Prohibited Person.
"EUR"
The legal currency of the member states of the European Monetary Union who
have adopted the euro
"Fund"
Global Climate Partnership Fund SA, SICAV-SIF, a société anonyme, qualifying
as a société d’investissement à capital variable - fonds d’investissement
spécialisé (SICAV-SIF) under the Law of 13 February 2007; for the purpose of
these Articles of Incorporation, the "Fund" shall also mean, where applicable,
the Board acting on behalf of the Fund
"IFRS"
International Financial Reporting Standards promulgated by the International
Accounting Standards Board ("IASB") (which include standards and
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interpretations approved by the IASB and International Accounting Standards
issued under previous constitutions), together with its pronouncements
thereon from time to time, and applied on a consistent basis
"Institutional Investors"
Investors who qualify as institutional investors according to Luxembourg laws
and regulations
"Investment Adviser"
The investment adviser of the Fund, acting in such capacity
"Investment Committee"
The investment committee of the Fund, designated by the Board, as further
detailed in the Issue Document and in Article 22 hereof
"Investment Manager"
The investment manager of the Fund, acting in such capacity and as further
detailed in Article 21 hereof
"Investors"
Each Eligible Investor who has signed a commitment agreement and/or a
subscription request and/or subscription agreement, or who has acquired any
Shares and/or Notes from another Investor through the formal transfer
process described in Articles 7(2) and 11.2 of these Articles (for the avoidance
of doubt, the term "Investors" includes, where appropriate, the Shareholders
and the Noteholders)
"Issue Document"
The issue document of the Fund, as the same may be amended from time to
time
"KfW"
KfW, an institution under public law (Anstalt des öffentlichen Rechts) duly
established and validly existing under the laws of the Federal Republic of
Germany, having its office at Palmengartenstrasse 5-9, 60325 Frankfurt am
Main, Federal Republic of Germany
"Law of 10 August 1915"
The Luxembourg law dated 10 August 1915 on commercial companies, as
amended
"Law of 13 February 2007"
The Luxembourg law dated 13 February 2007 on specialised investment funds,
as amended
"NAV Deficiency Amount"
The positive difference between the issue price of each Tranche of Class A
Shares and Class B Shares and the Net Asset Value of such Tranche from time
to time
"Net Asset Value" or "NAV"
The net asset value of the Fund, each Class of Shares and Tranche of each Class,
as determined pursuant to Article 13 of these Articles
"Noteholder(s)"
All or any of the holders of one or more Notes of any Tranche(s) in the Fund
"Notes"
All or any of the note(s) of any Tranche issued by the Fund and subscribed by
any Noteholder
"Performance Fee"
A fee payable to the Investment Manager as further described in the Issue
Document
"Professional Investor"
Investors who qualify as professional investors under Annex II of Directive
2004/39/EC on markets in financial instruments as amended
"Prohibited Person(s)"
Any person, firm, partnership or corporate body: (i) which does not meet the
definition of "Eligible Investors" as described above in accordance with the
provisions of the Law of 13 February 2007 and/or any other category of
Investor as determined by the Board and described in this Issue Document and
the Articles; and/or (ii) are named on lists promulgated by the United Nation
Security Council or its committees pursuant to resolutions issued under
Chapter VII of the United Nations Charter; and/or (iii) named on the World
Bank Listing of Ineligible Firms (see www.worldbank.org/debarr); and/or (iv)
which, if it were to hold Shares and/or Notes, such holding may, in the sole
opinion of the Board, (x) be detrimental to the interests of the existing
Shareholders or Noteholders or the Fund, (y) may result in a breach of any
law or regulation, whether Luxembourg or otherwise, (z) result in the Fund
becoming exposed to tax disadvantages, fines or penalties that it would not
have otherwise incurred
"Reference Currency"
As the case may be, the currency of the nominal value of the Notes or the
currency of the calculation of the Net Asset Value for each Class and Tranche
of Shares as determined in Article 13 of these Articles being in each case USD
"Regulated Market"
A market that is regulated, operates regularly and is recognized and open to
the public, and that fulfils each of the following criteria: (i) it has liquidity;
multilateral order matching (general matching of bid and ask prices in order to
establish a single price); transparency (the circulation of complete information
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U X E M B O U R G
in order to give clients the possibility of tracking trades, thereby ensuring that
their orders are executed on current conditions); (ii) the securities are traded
at certain fixed frequencies, (iii) it is recognized by a state or by a public
authority which has been delegated by that state or by another entity which is
recognized by that state or by that public authority such as a professional
association and (iv) the securities traded on it are accessible to the public
"Shareholder(s)"
All or any of the holders of one or more Shares of any Class and any Tranches
in the capital of the Fund
"Shares"
Any shares in the Fund from any Class and any Tranches subscribed by any
Investor
"SMEs"
Small and medium enterprises
"TA Facility" or "Technical Assistance
Facility"
The facility established in parallel with the Fund to provide technical assistance,
primarily to assist Partner Institutions in their development and their growth
"Target Dividends"
The target dividend(s) which the Fund aims to pay to the Class A Shares and
to the Class B Shares on a yearly basis, as further described in the Issue
Document and as set in the relevant commitment agreement(s) and/or in the
relevant subscription form(s)
“Target Dividend Deficiency Amounts” For each Tranche of Shares, the sum of all the Target Dividends which have
not been paid to the respective Tranches of Class A Shares and Class B Shares,
due to insufficient income of the Fund in previous years, pursuant to Article
12 hereof and described in the Issue Document
"Tranche"
A tranche or sub-class in which each Class of Shares or each Note may be
sub-divided as further detailed in the Issue Document
"USD"
The US Dollar, the legal currency of the United States of America
"Valuation Date"
Each date as of which the Net Asset Value is calculated, as defined in Article
14 of these Articles
"Well-Informed Investors"
Investors:
(i) who confirm in writing that they adhere to the status of well-informed
investor, and invest a minimum of EUR 125,000 in the Fund, or
(ii) who confirm in writing that they adhere to the status of well-informed
investor, and are the subject of an assessment made by a credit institution
within the meaning of Directive 2006/48/EC, by an investment firm within the
meaning of Directive 2004/39/EC or by a management company within the
meaning of Directive 2001/107/EC certifying their expertise, their experience,
and their knowledge in adequately appraising an investment in the Fund
ARTICLES OF INCORPORATION
Title I - Name - Registered Office - Duration - Purpose
Art. 1. Name. There is hereby established among the subscribers and all those who may become owners of Share(s)
hereafter issued, a public limited liability company ("société anonyme") qualifying as an investment company with variable
share capital – specialised investment fund ("société d’investissement à capital variable- fonds d'investissement spécialisé")
under the name of "Global Climate Partnership Fund SA, SICAV-SIF" (hereinafter the "Fund").
Art. 2. Registered Office. The registered office of the Fund is established in Luxembourg-City, Grand Duchy of Lu-
xembourg. The Board is authorised to transfer the registered office of the Fund within the municipality of Luxembourg-
City. The registered office may be transferred to any other municipality in the Grand Duchy of Luxembourg by means
of a resolution of the general meeting of the Shareholders deliberating in the manner provided for any amendment to
the Articles.
Branches, subsidiaries or other offices may be established either in the Grand Duchy of Luxembourg or abroad by a
decision of the Board.
In the event that the Board determines that extraordinary political or military events have occurred or are imminent
which would interfere with the normal activities of the Fund at its registered office or with the ease of communication
between such office and persons abroad, the registered office may be temporarily transferred abroad until the complete
cessation of these abnormal circumstances; such provisional measures shall have no effect on the nationality of the Fund
which, notwithstanding such temporary transfer, shall remain a Luxembourg corporation.
Art. 3. Duration. The Fund is established for an unlimited period of time. The Fund may be dissolved at any time by a
resolution of the general meeting of Shareholders adopted in the manner described in Article 32 hereof.
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Art. 4. Purpose. The exclusive purpose of the Fund is to invest the funds available to it, in securities and other assets
permitted by law, with the purpose of spreading investment risks and affording its Investors the results of the management
of its assets.
The Fund may enter into any and all contracts and agreements for carrying out the purpose of the Fund and for
administration and operation of the Fund, and pay any expenses connected therewith.
The Fund may acquire interests and create subsidiaries by means of equity or debt or by combination of both.
Furthermore, the Fund may take any measures and carry out any transaction which it may deem useful for the fulfilment
and development of its purpose to the fullest extent permitted under the Law of 13 February 2007.
Art. 5. Mission Statement. The mission of the Fund is to contribute to the mitigation of climate change through a
reduction of greenhouse gas emissions. The Fund fosters primarily energy efficiency and renewable energy investments
for SMEs and private households world-wide via qualified financial institutions, thereby reducing primary energy con-
sumption.
Title II. Share Capital - Shares - Net Asset Value - Notes
Art. 6. Share Capital - Classes of Shares - Notes. The capital of the Fund shall be represented by fully paid up Shares
of no par value and shall at any time be equal to the total net assets of the Fund pursuant to Article 13 hereof. The
minimum capital of the Fund is the USD equivalent of EUR 1,250,000.- (One Million Two Hundred and Fifty Thousand
Euro) and must be paid up within twelve (12) months after the date on which the Fund has been authorised as a société
d'investissement à capital variable (SICAV) - fonds d’investissement spécialisé (SIF) under Luxembourg law.
The Shares to be issued pursuant to Article 8 hereof may, as the Board shall determine, be of different Class(es) and/
or tranches Tranche(s).
The Fund was incorporated with an initial capital of USD 100,000.- (One Hundred Thousand USD) represented by
two (2) C Shares fully paid-up, each with an initial offering price of USD 50,000.-.
For the time being, the following Shares and Notes will be issued, each evidencing a different level of risk as further
described in the Issue Document:
Art. 6.1. Shares.
1) Class C Shares
The first loss Class C Shares ("Class C Shares"),, which may be issued in successive Tranches, bear, pro rata to their
respective NAV, all the following unrealised/realised capital losses of the Fund until the NAV of Class C Shares has been
fully depleted (as the case may be):
- The first net losses due to any deterioration in credit quality or to any defaults with respect to the Investments of
the Fund;
- The net losses in the case of unrealised/realised foreign exchange losses;
- Write backs on unrealised Investments and any realised or unrealised capital gains shall be allocated to the respective
Tranches of Class C Shares in the order, priority as set out below under Article 6.2 hereof;
- The Class C Shares’ dividend entitlements rank junior to the dividend entitlements of the Class A and Class B Shares
as per the waterfall included in Article 12 hereof.
2) Class B Shares
- The mezzanine class B Shares ("Class B Shares"), which may be issued in successive Tranches, bear, pro rata to their
respective NAV, unrealised/realised capital losses of the Fund only if the NAV of the Class C Shares has been reduced
to zero;
- Write backs on unrealised Investments and any realised or unrealised capital gains shall be allocated to the respective
Tranches of Class B Shares in the order, priority and limits as set out below under Article 6.2 hereof;
- The Class B Shares’ dividend entitlements rank senior to the dividend entitlements of the Class C Shares but junior
to the dividend entitlements of the Class A Shares as per the waterfall included in Article 12 hereof.
3) Class A Shares
- The senior class A Shares ("Class A Shares"), which may be issued in successive Tranches, bear, pro rata to their
respective NAV, unrealised/realised capital losses of the Fund only if the NAV of both the Class C Shares and the Class
B Shares has been reduced to zero.
- Write backs on unrealised Investments and any realised or unrealised capital gains shall be allocated to the respective
Tranches of Class A Shares in the order, priority and limits as set out below under Article 6.2 hereof.
- The Class A Shares dividend entitlements rank senior to the dividend entitlements of the Class B and Class C Shares
as per the waterfall included in Article 12 hereof but, for the avoidance of doubt, rank junior to the claims of creditors
of the Fund, including Noteholders.
For the purpose of determining the capital of the Fund, the net assets attributable to each Class and/or Tranche of
Shares shall, if not expressed in USD, be converted into USD and the capital shall be the total of the net assets of all the
Classes and Tranches of Shares.
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The Board may create additional Classes of Shares which may be sub-divided in successive Tranches in accordance
with the provisions of the Issue Document and these Articles and subject to the Law of 13 February 2007. In such event
these Articles and the Issue Document will be updated.
Art. 6.2. Allocation of capital gains and Write backs. As of each NAV Valuation Date, any year-to-date write backs on
unrealised Investments and any year-to-date realised or unrealised capital gains (including foreign exchange gains) shall
be allocated in the following order, priority and limits:
- first to such Tranches of Class A Shares showing a NAV Deficiency Amount (if any) as of the NAV Valuation Date
as of the end of the previous financial year the amounts necessary to balance the NAV Deficiency Amounts of such
Tranches remaining after taking into account any NAV Deficiency Amount allocation made to such Tranches as of the
relevant NAV Valuation Date under in Article 12 hereof pro rata to the NAV Deficiency Amounts of the respective
Tranches of Class A Shares; thereafter
- to such Tranches of Class B Shares showing a NAV Deficiency Amount (if any) as of the NAV Valuation Date as of
the end of the previous financial year, the amounts necessary to balance the NAV Deficiency Amounts of such Tranches
remaining after taking into account any NAV Deficiency Amount allocation made to such Tranches as of the relevant
NAV Valuation Date under in Article 12 hereof, pro rata to the NAV Deficiency Amounts of the respective Tranches of
Class B Shares; thereafter
- to each specific Tranche of Class C Shares having borne such respective losses in the case of write-backs and/or to
each Tranche of Class C Shares pro rata to the NAV of each Tranche for year-to-date realised or unrealised capital gains.
Art. 6.3. Notes. In addition to the Shares, Notes may be issued by the Fund in successive Tranches, with different
duration and different terms and conditions, in accordance with the provisions of these Articles and the Issue Document.
Art. 6.4. Common provisions for Shares and Notes. The proceeds of the issue of each Class of Shares of any Tranche
and of Notes of any Tranche shall be invested in loans of any kind and other assets permitted by law pursuant to the
investment policy determined by the Board subject to the investment restrictions provided by law or determined by the
Board.
Art. 7. Form of Shares and Notes.
(1) Shares and Notes shall only be issued in registered form and are exclusively restricted to Eligible Investors within
the meaning of article 2 of the Law of 13 February 2007. The Fund will not issue, or give effect to any transfer of Shares
or Notes to any Investor who does not comply with this provision.
All issued registered Shares and Notes of the Fund shall be registered in the register of Shareholders or in the register
of Noteholders, as the case may be, which shall be kept by the Fund or by one person designated thereto by the Fund,
and such register shall contain the name of the registered owner of Shares or Notes (as the case may be), his nationality,
residence or elected domicile as indicated to the Fund, the number of registered Shares or Notes (as the case may be)
held by the registered owner and the amount paid upon each Share or Note (as the case may be).
The inscription of the Shareholder’s or Noteholder's name in the register of Shares or in the register of Notes
evidences the Shareholder’s or Noteholder's right of ownership on such registered Shares or Notes (as the case may
be). The Fund shall not issue certificates for such inscription, but each Shareholder and Noteholder shall receive a written
confirmation of his shareholding or noteholding (as the case may be).
(2) Subject to compliance with Article 11 hereof, transfer of registered Shares and Notes shall be effected by a written
declaration of transfer to be inscribed in the register of Shareholders or Noteholders, (as the case may be) dated and
signed by the transferor and transferee, or by persons holding suitable powers of attorney to act therefore. The Fund
may also accept and enter in the register of Shareholders or Noteholders a transfer on the basis of correspondence or
other documents recording the agreement of the transferor and transferee as evidence of transfer other instruments of
transfer satisfactory to the Fund. Any transfer of registered Shares and Notes shall be entered into the register of Sha-
reholders or Noteholders (as the case may be); such inscription shall be signed by one or more Directors or officers of
the Fund or by one or more other persons duly authorised thereto by the Board.
(3) Shareholders and Noteholders entitled to receive registered Shares or Notes shall provide the Fund with an address
to which all notices and announcements may be sent. Such address will also be entered into the register of Shareholders
or Noteholders.
In the event that a Shareholder or Noteholder does not provide an address, the Fund may permit a notice to this
effect to be entered into the register of Shareholders or Noteholders and the Shareholder’s or Noteholder's address
will be deemed to be at the registered office of the Fund, or at such other address as may be so entered into by the Fund
from time to time, until another address shall be provided to the Fund by such Shareholder or Noteholder. A Shareholder
or Noteholder may, at any time, change the address as entered into the register of Shareholders or Noteholders by
means of a written notification to the Fund at its registered office, or at such other address as may be set by the Fund
from time to time.
(4) The Fund recognises only one single owner per Share. If one or more Shares are jointly owned or if the ownership
of Shares is disputed, all persons claiming a right to such Share(s) have to appoint one single attorney to represent such
Share(s) towards the Fund. The failure to appoint such attorney implies a suspension of the exercise of all rights attached
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to such Share(s). Moreover, in the case of joint Shareholders, the Fund reserves the right to pay any redemption proceeds,
distributions or other payments to the first registered holder only, whom the Fund may consider to be the representative
of all joint holders, or to all joint Shareholders together, at its absolute discretion.
(5) The Fund may decide to issue fractional Shares up to one ten-thousandths (1/10,000) of a Share. Such fractional
Shares shall not be entitled to vote, except to the extent their number is so that they represent a whole Share, but shall
be entitled to participate in the net assets attributable to the relevant Class of Shares on a pro rata basis.
Art. 8. Issue of Shares and Notes.
Art. 8.1. Issue of Shares. The Board is authorised without limitation to issue in any Class(es) and/or Tranche(s), an
unlimited number of fully paid up Shares at any time without reserving to the existing Shareholders a preferential right
to subscribe for the Shares to be issued.
The Board may impose restrictions on the frequency at which Shares shall be issued in any Class(es) and/or Tranche
(s); the Board may, in particular, decide that Shares of any Class(es) and/or Tranche(s) shall only be issued during one or
more closings or offering periods or at such other periodicity as provided for in the Issue Document of the Fund.
The Board may in its absolute discretion without liability reject any subscription in whole or in part, and may, at any
time and from time to time and in its absolute discretion without liability and without notice, discontinue the issue and
sale of Shares of any Class(es) and/or Tranche(s). Furthermore, the Board may impose conditions on the issue of Shares
in any Class(es) and/or tranche(s) (including without limitation the execution of such subscription forms and/or commit-
ment agreements containing, inter alia, a commitment and application to subscribe for Shares and the provision of such
information as the Board may determine to be appropriate) and may fix a minimum subscription amount and minimum
amount of any additional investments, as well as a minimum holding amount which any Shareholder is required to comply
with.
The Board may fix an initial subscription day or initial subscription period during which the Shares of any Class(es)
and/or Tranche(s) will be issued at a fixed price (i.e. the initial offering price), plus any applicable fees, commissions and
costs, as determined by the Board and provided for in the Issue Document of the Fund.
Whenever the Fund offers Shares of any Class(es) and/or Tranche(s) after the initial subscription day or initial sub-
scription period for such Class(es) and/or Tranche(s), the price per Share at which such Shares are offered shall be the
Net Asset Value per Share of the relevant Class(es) and/or Tranche(s) as determined in compliance with Article 13 hereof
as of such Valuation Date (as defined in Article 14 hereof). Such price may be increased by a percentage estimate of costs
and expenses to be incurred by the Fund when investing the proceeds of the issue and by applicable sales commissions,
structuring or placing fees or other commissions, as approved from time to time by the Board. For the avoidance of
doubt, no Shares will be issued during any period when the calculation of the Net Asset Value per Share in the relevant
Class(es) and/or Tranche(s) is suspended pursuant to the provisions of Article 14 hereof.
The issue price so determined (be it the initial offering price or the Net Asset Value) shall be payable under the
conditions and within a period as determined from time to time by the Board and disclosed in the Issue Document of
the Fund or in the relevant subscription form or commitment agreement entered into by the Shareholders. The Board
may delegate to any Director, manager, officer or other duly authorised agent the power to accept subscriptions, to
receive payment of the price of the new Shares to be issued and to deliver them.
Shares shall be allotted only upon acceptance of the subscription and payment of the issue price.
Applications for subscription of Shares received by the Fund or by its duly appointed agents before the applicable
subscription deadline as determined by the Board shall be settled under the conditions and within the time limits as
determined by the Board.
The Fund may agree to issue Shares as consideration for a contribution in kind of assets, in compliance with the
conditions set forth by Luxembourg law, in particular the obligation to deliver a valuation report from an auditor qualifying
as a réviseur d’entreprises agréé. Specific provisions relating to in kind contribution will be detailed in the Issue Document.
Art. 8.2. Issue of Notes. The Board is authorised to issue, without limitation, Notes in one or several Tranche(s) under
the conditions and characteristics described in the Issue Document of the Fund and in accordance with Luxembourg law.
The Board may impose restrictions on the frequency at which Notes shall be issued and may, in its absolute discretion
without liability, reject any subscription for Notes in whole or in part. Furthermore, the Board may impose conditions
on the issue of Notes (including without limitation the execution of such subscription forms and/or commitment agree-
ments containing, inter alia, a commitment and application to subscribe for Notes and the provision of such information
as the Board may determine to be appropriate) and may fix a minimum subscription amount and minimum amount of any
additional investments, as well as a minimum holding amount which any Noteholder is required to comply with.
Notes will be subscribed based on their relevant nominal value, as determined in the Issue Document plus any applicable
fees, commissions and costs, as determined by the Board and provided for in the Issue Document of the Fund.
Notes shall be allotted only upon acceptance of the subscription and payment of the issue price. The payment will be
made under the conditions and within the time limits as determined by the Board.
Art. 8.3. Common provisions to the issue of Shares and Notes. The Board will have full discretion when accepting
subscription forms for new Shares of Notes and when issuing subscription requests to investors having entered into a
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commitment agreement. The Board may, inter alia, issue subscription requests without taking into consideration the date
of execution of the relevant commitment agreement. When accepting subscription forms and/or issuing subscription
requests, the Board shall, besides the risk ratios determined in the Issue Document and the duration of the termination
dates as set forth in the commitment agreements, take into account the Fund's overall financing structure, taking into
consideration, inter alia, the applicable interest, Target Dividend, target return and maturity of the Shares or Notes issued
and to be issued. In addition, the Board will take into account situations where an investor may be excused under its
commitment agreement from making all or a portion of a payment following a subscription request in order to avoid a
situation prohibited for example by the relevant investor’s articles of incorporation or by the applicable laws and regulation
of the investor’s home country and/or any other terms and conditions provided for in the relevant commitment agree-
ment/subscription form..
Art. 8.4. Defaulting Investors. If an Investor fails to make any required contributions or payment for Shares or Notes
in accordance with the terms of its commitment agreement or subscription form that is duly accepted by the Board and
the Administrative Agent, the Fund is empowered to declare the relevant Investor a Defaulting Investor, and to the extent
as applicable, apply the following penalties until the subscription price has been fully paid:
(1) set-off against sums otherwise payable to the Defaulting Investor the amounts owned by the Defaulting Investor
and such Defaulting Investor shall have no right to receive payments, and
(2) claim interest on the unpaid amount at the rate of 12 % per annum.
In addition, if an Investor who committed to subscribe for Shares or Notes for a total amount as determined in a
commitment agreement entered into by such Investor fails to make any required contributions or payment for such
Shares or Notes in accordance with the terms of its commitment agreement, the Board may require that the Defaulting
Investor:
(1) continues to pay to the Fund interest on the amount outstanding at a rate of 12% per annum, from the date upon
which such amount became due until the actual date of payment thereof (on the understanding that the Board may amend
the obligation to pay interest in view of other measures taken by it); and
(2) be assessed damages up to twenty five per cent (25%) of his unfunded commitment; and
(3) indemnify the Fund for any damages, fees and expenses, including, without limitation, attorney’s fees or sales
commissions, incurred as a result of the default.
Moreover, the Board may take any of the following actions:
(1) reduce or terminate the Defaulting Investor’s outstanding commitment; and
(2) compulsory redeem the Shares or prepay the Notes of the Defaulting Investor pursuant to the procedure set forth
in Articles 9.4 and 9.5 hereof; or
(3) provide the other (non-defaulting) Investors with a right to purchase the Shares or Notes of the Defaulting Investor
at a price calculated in accordance with Article 9.5 hereof and subject to Article 11.2 hereof.
The Board may decide on other solutions as far as legally allowed if it believes such solutions to be more adequate to
the situation. The Board may, in its discretion but having regard to the interests of the other Investors, waive any of these
remedies against a Defaulting Investor.
Art. 9. Redemption of Shares and Notes. The Fund is a closed-ended undertaking for collective investment. Conse-
quently, Shares in the Fund shall in principle not be redeemable at the request of a Shareholder. However the Board may
from time to time allow the redemption of Shares by Shareholders within the terms and provisions of the Issue Document
while preserving the principle of equal treatment of Shareholders. Redemption of Notes may also be authorised from
time to time by the Board within the terms and provisions of the Issue Document.
Art. 9.1. Conditions for redemption of Shares and Notes. Redemption of Shares and Notes, where applicable, shall
be executed in accordance with the provisions set forth in the Issue Document (in particular the risk ratio requirements)
and the limitations set forth by law and these Articles. In particular:
a) Class A Shares and Class B Shares as well as Notes will be redeemed at the maturity of the relevant Tranche pursuant
to the procedure set forth in the Issue Document;
b) Class A Shares, Class B Shares and Class C Shares as well as Notes will be redeemed at the liquidation of the Fund
in accordance with Article 12 hereof;
c) Class A Shares and Notes will be redeemed upon exercise of the early redemption right pursuant to the procedure
set forth in Articles 9.3 and 9.5 hereof;
d) Shares and Notes may be redeemed compulsorily pursuant to the procedure set forth in Articles 9.4 and 9.5 hereof
as regards: (i) Investors who are excluded from the acquisition or ownership of Shares and/or Notes in the Fund (such
as a non-Eligible Investor or a "Prohibited Person"), (ii) Investors who have materially violated any provisions of the
documents of the Fund or signed by the Fund binding upon it, including if the Investor ceases to be or is found not to be
an Eligible Investor; (iii) Investors who are in default in respect of any payment obligation arising under such documents,
(iv) with respect to Notes only, in the circumstances of early redemption set out under Article 9.3 hereof, and (v) with
respect to Shares and Notes held by the Investment Manager, in connection with the termination of the Investment
Management Agreement. In addition, Shares and Notes may be redeemed compulsorily from an Investor in any other
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circumstances where the Board reasonably determines that such Investor’s continued ownership would either be mate-
rially prejudicial to the Fund or would result in the Fund and/or the respective Investor being in non-compliance with
laws, regulations and investment guidelines applicable to it;
e) Shareholders representing more than twenty five percent (25%) of the votes attached to the capital of the Fund’s
Class and/or Tranche of Share, as the case may be, who have voted against any specific amendments to the Issue Document
regarding the mission statement, the investment policy, the payment waterfall, the risk ratios or the fee structure of the
Fund will be entitled to ask for the redemption of some or all of their Shares pursuant to the procedure set forth in the
Issue Document;
f) The Investment Manager shall be entitled to have its Shares redeemed by the Fund upon termination of the investment
management agreement by the Fund. Such redemption shall take place pursuant to the procedure set forth in Article 9.2
at the earliest at the Valuation Date following the effective termination date of the investment management agreement;
g) In addition, the Fund may redeem Shares whenever the Board considers this to be in the best interest of the Fund,
subject to the terms and conditions it shall determine and within the limitations set forth by law, these Articles and the
Issue Document.
All redeemed Shares and Notes shall be cancelled.
Art. 9.2 Ordinary redemption of Shares and Notes. Unless otherwise provided for in these Articles, the redemption
price per Share shall be the Net Asset Value per Share of the relevant Class and/or Tranche as of the redemption date
specified by the Board, less such charges and commissions (if any) at the rate provided by the Issue Document for the
Shares. The relevant redemption price may be rounded up or down to the nearest unit of the relevant currency as the
Board shall determine.
The redemption price per Share shall be paid within a period as determined by the Board which shall not exceed thirty
(30) Business Days from the date fixed for the redemption, provided that the transfer documents have been received by
the Fund and subject to the provision of Article 14 hereof.
Payments for such redeemed Shares will be made either in the Reference Currency of the relevant Class and/or
Tranche of Shares or in any freely convertible currency at the request of the Shareholders. In the latter case, any con-
version costs will be borne by the relevant Shareholder.
Unless otherwise provided for in these Articles, the redemption price per Note will be the nominal value per Note,
as determined in the Issue Document less any charges and commissions (if any), as determined by the Board and provided
for in the Issue Document.
Upon ordinary redemption of Class A Shares or Class B Shares, the Investors will not be entitled to non-allocated
Target Dividend Deficiency Amounts related to those Shares.
Art. 9.3 Early redemption of Shares and Notes. In the circumstances where an ordinary redemption of any Tranche
of Class A Shares upon maturity of such respective Tranche ("Mature Class A Shares") or of any Tranche of Class B
Shares upon maturity of such respective Tranche ("Mature Class B Shares") would result in a breach of the risk ratios as
set forth in the Issue Document, the Fund shall offer all senior ranking Investors (i.e. holders of Class A Shares and/or
Noteholders) the option to redeem early ("Early Redemption Right") their Shares, respectively Notes, as follows:
a) The Early Redemption Right shall be offered to senior ranking Investors pro rata to the respective NAV (in case of
Shares) or nominal value (in case of Notes) of their Shares, respectively Notes, as of the last NAV Valuation Date to the
extent necessary to allow the Fund to comply with the risk ratios upon redemption of the Mature Class A Shares and/
or upon redemption of the Mature Class B Shares if all Investors would accept the offered Early Redemption Right in full;
b) Investors may exercise their Early Redemption Rights by notifying the Fund in writing within a 30 Business Days
period upon having been informed in writing by the Fund about the Early Redemption Right;
c) Investors may exercise their Early Redemption Rights with respect to any or only some of the Shares, respectively
Notes, to which it relates;
d) Upon expiration of the 30 Business Days period mentioned in the preceding sub-section b)b), the Fund shall:
1. Redeem all Shares and prepay all Notes with respect to which the Early Redemption Right has been validly exercised;
and
2. Redeem the Mature Class A Shares, then the Mature Class B Shares in full, irrespective of whether the risk ratios
as set forth in the Issue Document would be complied with upon redemption of such Mature Class A Shares, respectively
such Mature Class B Shares;
e) The repayment/redemption entitlements will be fulfilled as and when the Fund has sufficient available cash in the
order and priority set forth below under sub-section (b) of Article 12 hereof.
Art. 9.4 Compulsory redemption of Shares and Notes. In the cases of compulsory redemption of Shares and/or Notes
as indicated in paragraph d) of Article 9.1 hereof, the Board shall serve a notice (the "purchase notice") upon the Share-
holder or Noteholder holding such Shares or Notes or appearing in the register of Shareholders or Noteholder as the
owner of the Shares or Notes to be purchased, specifying the Shares or Notes to be purchased as aforesaid, the manner
in which the purchase price will be calculated and the case being the name of the purchaser.
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Any such notice may be served upon such Shareholder or Noteholder by posting the same in a prepaid registered
envelope addressed to such Shareholder or Noteholder at his last address known to or appearing in the books of the
Fund.
Immediately after the close of business on the date specified in the purchase notice, such Shareholder or Noteholder
shall cease to be the owner of the Shares or Notes specified in such notice; his name shall be removed from the register
of Shareholders or Noteholder in case of compulsory redemption by the Fund.
Art. 9.5 Common provisions for early/compulsory redemption of Shares and Notes. In case of early/compulsory
redemption of Shares, the redemption price will be equal to the Net Asset Value of such Shares as of the redemption
date plus any accrued and unpaid Target Dividends and complementary dividends, but excluding any entitlement to non-
allocated Target Dividend Deficiency Amounts. Payment of the redemption price will be made by the Fund or its agents
not later than thirty (30) Business Days after the redemption date depending on the available cash in the Fund. If no cash
is available within thirty (30) Business Days, such payment shall be made to such Shareholder when the Fund has sufficient
cash available in the order and priority set below in sub-section (b) of Article 12 hereof.
In the event that the Net Asset Value of any Class and/or Tranche calculated in accordance with Article 13 hereof as
of the redemption date is equal or inferior to EUR 0.00, the Board will redeem the Shares of the relevant Class and/or
Tranche held by such Shareholder for a global redemption price of one USD (EUR 1.00). In the case of future recoveries
of Investments that were previously written down, the Shareholder shall have no claims to those recovered assets.
In case of early/compulsory redemption of Notes, the redemption price will be equal to the nominal value of the Notes
remaining outstanding plus accrued interest for such Notes as of the redemption date. Payment of the redemption price
will be made by the Fund or its agents not later than thirty (30) Business Days after the redemption date depending on
the available cash in the Fund. If no cash is available within thirty (30) Business Days, such payment shall be made to such
Noteholder when the Fund has sufficient cash available in the order and priority set below in sub-section (b) of Article
12 hereof.
Payment for such Shares or Notes will be made in the relevant Reference Currency or in any freely convertible currency
specified by the Shareholder or the Noteholder. In the last case, any conversion cost shall be borne by the relevant
Shareholder or Noteholder.
Art. 9.6 Redemption in kind. The Fund shall have the right, if the Board so determines, to satisfy payment of the
redemption price to any Shareholder who agrees, in specie by allocating to the holder investments from the portfolio of
the Fund equal in value (calculated in the manner described in Article 13) as of the redemption date, on which the
redemption price is calculated, to the value of the Shares to be redeemed. The nature and type of assets to be transferred
in such case shall be determined on a fair and reasonable basis and without prejudicing the interests of the other holders
of Shares and if required under the Law of 10 August 1915, the valuation used shall be confirmed by a special report of
the auditor of the Fund. The costs of any such transfers shall be borne by the transferee.
Art. 10. Conversion of Shares. Unless otherwise determined by the Board in the Issue Document for certain Class
(es) and/or Tranche(s) of Shares, any Shareholder is entitled to require the conversion of whole or part of his Shares of
one Class and/or Tranche into Shares of another Class and/or Tranche, subject to such restrictions as to the terms,
conditions and payment of such charges and commissions as the Board shall determine.
The price for the conversion of Shares from one Class and/or Tranche into another Class and/or Tranche shall be
computed by reference to the respective Net Asset Value of the two Classes and/or Tranches of Shares, calculated on
the same Valuation Date increased by any conversion fees as detailed in the Issue Document.
If as a result of any request for conversion the number or the aggregate Net Asset Value of the Shares held by any
Shareholder in any Class and/or Tranche of Shares would fall below such number or such value as determined by the
Board, then the Fund may decide that this request be treated as a request for conversion for the full balance of such
Shareholder’s holding of Shares in such Class and/or Tranche.
The Shares which have been converted into Shares of another Class and/or Tranche will be cancelled.
Art. 11. Restrictions on Ownership of Shares and Notes and Transfer of Shares and Notes.
Art. 11.1 Restriction on ownership of Shares and Notes. Shares and Notes are available only to Eligible Investors within
the meaning of article 2 of the Law of 13 February 2007.
The Fund may restrict or prevent the ownership of Shares and Notes in the Fund by any Prohibited Person.
For such purposes the Fund may:
A.- decline to issue any Shares or Notes and decline to register any transfer of Shares or Notes, where it appears to
it that such registry or transfer would or might result in legal or beneficial ownership of such Shares or Notes by a
Prohibited Person; and
B.- at any time require any person whose name is entered in, or any person seeking to register the transfer of Shares
or Notes on the register of Shareholders or Noteholders, 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
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Shares or Noteholder's Notes rests in a Prohibited Person, or whether such registry will result in beneficial ownership
of such Shares or Notes by a Prohibited Person; and
C.- decline to accept the vote of any Prohibited Person at any meeting of Shareholders or Noteholders of the Fund;
and
D.- where it appears to the Fund that any Prohibited Person either alone or in conjunction with any other person is
a beneficial owner of Shares or Notes, direct such Shareholder or Noteholder to sell his Shares or Notes and to provide
to the Fund evidence of the sale within thirty (30) days of the notice. The Fund may in any case compulsorily redeem or
cause to be redeemed from any Prohibited Person all Shares or Notes held by such Shareholder or Noteholders in the
manner described in Articles 9.4 and 9.5 hereof.
The exercise by the Fund of the power 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 or Notes by any person or that the true ownership
of any Shares or Notes was otherwise than appeared to the Fund at the date of any purchase notice, provided in such
case the said powers were exercised by the Fund in good faith.
Art. 11.2. Transfer of Shares and Notes. Shares and Notes may only be transferred upon (i) delivery to the Fund or
its Administrative Agent of a transfer form duly signed by the transferee and the transferor, (ii) acceptance by the Ad-
ministrative Agent that the transferee is an Eligible Investor within the meaning of article 2 of the Law of 13 February
2007, and (iii) acceptance of the new Shareholder or Noteholder by the Board the consent of which shall not be unrea-
sonably withheld.
In principle, undrawn commitment (if any) for Shares or Notes under a commitment agreement entered into by a
Shareholder or Noteholder cannot be transferred unless approved by the Board.
Art. 12. Payment waterfall.
(a) Income Waterfall
For each Valuation Date, after accruing the Direct Operating Expenses, the Investment Management Fee (to the extent
payable) and the interest on the revolving credit facility and then the interest on the Notes and without taking into account
the losses and/or the gains attributable to the Shares as described under Article 6 hereof, the year-to-date net income
(received and/or accrued) of the Fund will be allocated in the following order of priority:
12. Allocation of the year-to-date Target Dividends to the Class A Shares, pro-rata to the Target Dividends for each
Tranche of Class A Shares;
13. Allocation of the Target Dividend Deficiency Amounts for all Tranches of A Shares, if any, pro rata to the Target
Dividend Deficiency Amounts for the respective Tranches of A Shares;
14. Allocation to such Tranches of Class A Shares showing a NAV Deficiency Amount, the amounts necessary to
balance the NAV Deficiency Amounts of such Tranches, pro rata to the NAV Deficiency Amounts of the respective
Tranches of Class A Shares, to be capitalised for such Class A Tranches;
15. Any placing fee due to any placing agent, as further provided for in the Issue Document;
16. Allocation of the year-to-date Target Dividends to the Class B Shares, pro rata to the Target Dividends for each
Tranche of Class B Shares;
17. Allocation of the Target Dividend Deficiency Amounts for all Tranches of B Shares, if any, pro rata to the Target
Dividend Deficiency Amounts for the respective Tranches of B Shares;
18. Allocation to such Tranches of Class B Shares showing a NAV Deficiency Amount, the amounts necessary to
balance the NAV Deficiency Amounts of such Tranches, pro rata to the NAV Deficiency Amounts of the respective
Tranches of Class B Shares, to be capitalised for such Class B Tranches;
19. Allocation of the year-to-date target return to the Class C Shares, such amounts being capitalised for the Class C
Shares;
20. Funding of the Technical Assistance Facility;
21. Investment Manager Performance Fee;
22. Complementary dividends for the Class A Shares and Class B Shares, pro rata to each respective Tranche issued
multiplied by a weighting factor (Class A Shares factor = 1; Class B Shares factor = 2).
The losses and/or the gains attributable to the Shares as described under article 6 hereof and in the Issue Document
are allocated after the above income waterfall.
The net gains in case of unrealised/realised gains on foreign exchange operations or in case of a write-back of provisions
previously borne by specific Tranches of Shares are allocated to those Tranches of Shares, in addition to their dividends
or capitalised returns calculated as per this sub-section (a).
In case the year-to-date net investment income of the Fund is negative, such negative income will be allocated in the
following order of priority:
4. Allocation of the negative income to the C Shares up to the total Net Asset Value of the C Shares;
5. Allocation of the remaining negative income to the Class B Shares up to the total Net Asset Value of the Class B
Shares;
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6. Allocation of the remaining negative income to the Class A Shares up to the total Net Asset Value of the Class A
Shares.
(b) Cash Waterfall
After paying the Direct Operating Expenses, the Investment Management Fee (to the extent payable), the amount due
(principal and interest) under the revolving credit facility and then the interest on the Notes and the redemption amounts
of the Notes, the available cash from the operations of the Fund will be paid in the following order of priority, to the
extent of the available cash and following any early/compulsory redemptions of the Noteholders and/or Shareholders:
11. Payment of annual Target Dividends for the Class A Shares as of 31 December of each calendar year;
12. Payment of the Target Dividend Deficiency Amounts for the Class A Shares allocated to such A Shares as of 31
December of each year;
13. Payment of redemption amounts for the Class A Shares on a "first matured, first redeemed" basis and for re-
demption amounts maturing on the same date, pro rata to the redemption amounts;
14. Any placing fee due to any placing agent, as further provided for in the Issue Document;
15. Payment of annual Target Dividends for the Class B Shares as of 31 December of each calendar year;
16. Payment of the Target Dividend Deficiency Amounts for the Class B Shares allocated to such B Shares as of 31
December of each year;
17. Payment of redemption amounts for the Class B Shares on a "first matured, first redeemed" basis and for re-
demption amounts maturing on the same date, pro rata to the redemption amounts;
18. Funding of the Technical Assistance Facility;
19. Investment Manager Performance Fee;
20. Payment of complementary dividends for Class A Shares and Class B Shares as of 31 December of each calendar
year.
The payment of the annual Target Dividends, complementary dividends and Target Dividend Deficiency Amounts as
of 31 December of each calendar year is approved by the general meeting of Shareholders. Target Dividends will continue
to accrue on matured Class A Shares and Class B Shares that have not been redeemed due to the lack of available cash.
(c) Liquidation of the Fund
Upon liquidation of the Fund, the moneys will be distributed in the following order of priority to the extent of available
cash in the Fund:
12. Payment of all liabilities related to Direct Operating Expenses (including provisions for future expenses related to
the liquidation of the Fund), Investment Management Fee (to the extent payable) and amounts drawn under the revolving
credit facility;
13. Payment of the interest due on the Notes, pro rata to the interest due on each Tranche of Notes;
14. Payment of the outstanding principal of the Notes;
15. Payment of Target Dividends for the Class A Shares, pro rata to the Target Dividends for each Tranche of Class
A Shares;
16. Payment of the Target Dividend Deficiency Amounts for the Class A Shares, pro rata to the Target Dividend
Deficiency Amounts for the respective Tranches of A Shares;
17. Class A Shares at their respective Net Asset Value on dissolution (which will include the complementary dividend,
if any);
18. Any placing fee due to any placing agent, as further provided for in the Issue Document;
19. Payment of Target Dividends for the Class B Shares, pro rata to the Target Dividends for each Tranche of Class
B Shares;
20. Payment of the Target Dividend Deficiency Amounts for the Class B Shares, pro rata to the Target Dividend
Deficiency Amounts for the respective Tranches of B Shares;
21. Class B Shares at their respective Net Asset Value on dissolution (which will include the complementary dividend,
if any);
22. Class C Shares at their Net Asset Value on dissolution..
Art. 13. Calculation of Net Asset Value per Share. The Net Asset Value per Share of each Class and each Tranche
shall be calculated by the Administrative Agent, under the responsibility of the Board, in the Reference Currency of the
relevant Class and/or Tranche and is then converted as appropriate in the Accounting Currency of the Fund at last available
rates as quoted by a major bank. If such quotations are not available, the rate of exchange will be determined in good
faith by or under procedures established by the Board. The Accounting Currency and the Net Asset Value of the Fund
is expressed in USD.
The Net Asset Value shall be determined as of any Valuation Date (as defined in Article 14 hereof), by dividing the net
assets of the Fund attributable to each Class and Tranche of Shares, being the value of the portion of assets less the
portion of liabilities attributable to such Class and Tranche, on any such Valuation Date, by the number of Shares in the
relevant Class and Tranche then outstanding, in accordance with the valuation rules set forth below. The assets and
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liabilities of the Fund will be determined on the basis of the contributions to and withdrawals from the Fund as a result
of (i) the issue and redemption of Shares; (ii) the allocation of assets, liabilities and income expenditure attributable to
the Fund as a result of the operations carried out by the Fund, and (iii) the payment of any expenses or distributions to
Shareholders.
The Net Asset Value per Share of any Class and Tranche may be rounded up or down to the nearest unit of the
relevant currency as the Board shall determine.
The accounts of the Eligible Investment Vehicles will be consolidated to the extent required under applicable accounting
rules and regulations with the accounts of the Fund once a year and accordingly the underlying assets and liabilities will
be valued in accordance with the valuation rules described below.
If since the time of determination of the Net Asset Value there has been a material change in the quotations in the
markets on which a substantial portion of the investments attributable to the relevant Class and/or Tranche of Shares
are dealt in or quoted, the Fund may, in order to safeguard the interests of the Shareholders and the Fund, cancel the
first valuation and carry out a second valuation, in which case all relevant subscription and redemption requests will be
dealt with on the basis of that second valuation.
The valuation of assets, liabilities, income and expenses attributed to the Fund will be established using valuation and
accounting principles in accordance with IFRS, including the determination of any loss due to any deterioration in credit
quality or due to any defaults with respect to the investments.
The valuation of private equity investments (such as equity, subordinated debt) will be based on the International
Private Equity and Venture Capital Valuation Guidelines issued by the EVCA (European Venture Capital Association), the
BVCA (British Venture Capital Association) and the AFIC (Association Française des Investisseurs en Capital) in March
2005, or any subsequent update of such guidelines, and is conducted with prudence and in good faith.
The calculation of the Net Asset Value of the different Classes and/or Tranches of Shares shall be made in the following
manner:
I. The assets of the Fund shall include:
(1) all cash on hand or on deposit, including any interest accrued thereon;
(2) all bills and demand notes payable and accounts receivable (including proceeds of securities sold but not delivered);
(3) all debt instruments (whether securitised or not), bonds, time notes, certificates of deposit, Shares, stock, deben-
tures, debenture stocks, subscription rights, warrants, options and other securities, financial instruments and similar assets
owned or contracted for by the Fund (provided that the Fund may make adjustments in a manner not inconsistent with
paragraph (a) below with regards to fluctuations in the market value of securities caused by trading ex-dividends, ex-
rights, or by similar practices);
(4) all stock dividends, cash dividends and cash distributions receivable by the Fund to the extent information thereon
is reasonably available to the Fund;
(5) all interest accrued on any interest-bearing assets owned by the Fund except to the extent that the same is included
or reflected in the principal amount of such assets;
(6) the preliminary expenses of the Fund, including the cost of issuing and distributing Shares of the Fund, insofar as
the same have not been written off;
(7) all other assets of any kind and nature including expenses paid in advance.
The valuation of assets, liabilities, income and expenses attributed to the Fund will be established using valuation and
accounting principles in accordance with the accounting principles set forth in the latest Issue Document, including the
determination of any loss due to any deterioration in credit quality or due to any defaults with respect to the investments
as determined in a procedure set up by the Board.
The value of such assets shall be determined as follows:
a. Debt instruments as well as unsecuritised loans not listed or dealt in on any stock exchange or any other Regulated
Market will be initially valued at fair value, which is in principle the transaction price to originate or acquire the asset, and
subsequently the amortised cost less an impairment provision, if any, as the best estimate of fair value. This impairment
provision is defined as the amount measured at the initial recognition minus the principal repayments, plus or minus the
cumulative amortization of any difference between that initial amount and the maturity amount, and minus any write
down for impairment. The Board will use its best endeavours to continually assess the method of calculating any impair-
ment provision and recommend changes, where necessary, to ensure that such provision will be valued appropriately as
determined in good faith by the Board.
b. The value of any cash on hand or on deposit, bills, demand notes and accounts receivable, prepaid expenses, cash
dividends and interest declared or accrued as aforesaid and not yet received shall be deemed to be the full amount thereof,
unless in any case the same is unlikely to be paid or received in full, in which case the value thereof shall be arrived at
after making such discount as the Board may consider appropriate in such case to reflect the true value thereof.
c. The value of assets which are listed or traded in on any stock exchange is based on the last available price on the
stock exchange that is normally the principal market for such assets.
d. The value of assets dealt in on any other Regulated Market is based on the last available price.
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e. All other securities and assets will be valued at fair market value as determined in good faith pursuant to procedures
established by the Board.
f. In the event that, for any assets, the price as determined pursuant to sub-paragraph (a), (d) or (e) is not representative
of the fair market value of the relevant assets, the value of such assets will be based on the reasonably foreseeable sales
price determined prudently and in good faith by the Board.
The value of all assets and liabilities not expressed in the reference currency of a Class or Tranche of Share will be
converted into the reference currency of such Class at last available rates as quoted by any major bank. If such quotations
are not available, the rate of exchange will be determined in good faith by or under procedures established by the Board.
The Board, in its discretion, may permit some other method of valuation to be used if it considers that such valuation
better reflects the fair value of any asset of the Fund.
II. The liabilities of the Fund shall include:
(1) all loans, securitized or not such as the Notes, bills and accounts payable;
(2) all accrued interest on such loans of the Fund (including accrued fees for commitment for such loans);
(3) all accrued or payable expenses (including but not limited to administrative expenses and direct operating expenses,
investment management fees, technical assistance facility management fee, performance fees, structuring or placing fees,
custodian fees, and Administrative Agent's fees as well as reasonable disbursements incurred by the service providers);
(4) all known liabilities, present and future, including all matured contractual obligations for payments of money or
property, including the amount of any unpaid dividends declared by the Fund;
(5) an appropriate provision for taxes based on capital and income to the Valuation Date as determined from time to
time by the Fund, and other reserves (if any) authorized and approved by the Board, as well as such amount (if any) as
the Board may consider to be an appropriate allowance in respect of any contingent liabilities of the Fund;
(6) all other liabilities of the Fund of whatsoever kind and nature reflected in accordance with the Fund’s accounting
principles. In determining the amount of such liabilities the Board shall take into account all expenses payable by the Fund
which shall comprise but not be limited to fees (investment management fees, performance fees, structuring or placing
fees and technical assistance facility management fee) payable to its Investment Manager, fees and expenses payable to its
Auditor and accountants, Investment Committee, Custodian and its correspondents, Administrative Agent and paying
agent, any listing agent, domiciliary agent, any distributor(s) and permanent representatives in places of registration, as
well as any other agent employed by the Fund, the remuneration of the Directors and officers of the Fund and their
reasonable out-of-pocket expenses, insurance coverage, and reasonable travelling costs in connection with board mee-
tings, fees and expenses for legal and auditing services, any fees and expenses involved in registering and maintaining the
registration of the Fund with any governmental agencies or stock exchanges in the Grand Duchy of Luxembourg and in
any other country, reporting and publishing expenses including the costs of preparing, printing, advertising and distributing
issue documents, explanatory memoranda, periodical reports or registration statements, and the costs of any reports to
Shareholders, all taxes, duties, governmental and similar charges, the costs for the publication of the issue, conversion, if
any, and redemption prices and all other operating expenses, the costs for the publication of the issue and redemption
prices, including the cost of buying and selling assets, interest, bank charges and brokerage, postage, telephone and telex.
The Fund may accrue administrative and other expenses of a regular or recurring nature based on an estimated amount
payable for yearly or other periods.
III. Allocation of the Net Asset Value between Classes of Shares:
The assets and liabilities shall be allocated as follows:
1. Between Classes of Shares and Tranches, the assets and liabilities as well as income and losses are allocated in
accordance to the provisions as outlined in Articles 6 and 12 hereof.
2. The assets, liabilities, income and expenses will be established for the Fund using valuation and accounting principles
as described above. The Net Asset Value derived from such balance sheet thus established under IFRS will then be
allocated to the Net Asset Value of each Tranche of Class A Shares, Class B Shares and C Shares.
3. The total Net Asset Value of each Tranche of Class A Shares, Class B Shares and C Shares will be divided by the
respective number of Shares of each Tranche of Class A Shares, Class B Shares and C Shares to calculate the Net Asset
Value per Share of each Tranche of Class A Shares, Class B Shares and C Shares.
In the absence of bad faith, gross negligence or manifest error, every decision in calculating the Net Asset Value taken
by the Board or by any bank, company or other organisation which the Board may appoint for the purpose of calculating
the Net Asset Value, shall be final and binding on the Fund and present, past or future Shareholders.
IV. For the purpose of this Article
(1) Shares of the Fund to be redeemed under Article 9 hereof shall be treated as existing and taken into account until
immediately after the time specified by the Board on the redemption day on which such valuation is made and from such
time and until paid by the Fund the price therefore shall be deemed to be a liability of the Fund;
(2) Shares to be issued by the Fund shall be treated as being in issue as from the time specified by the Board on the
Valuation Date on which such valuation is made and from such time and until received by the Fund the price therefore
shall be deemed to be a debt due to the Fund;
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(3) all investments, cash balances and other assets expressed in currencies other than the reference currency of the
relevant Class shall be valued after taking into account the market rate or rates of exchange in force at the date and time
for determination of the Net Asset Value of Shares; and
(4) where on any Valuation Date the Fund has contracted to):
- purchase any asset, the value of the consideration to be paid for such asset shall be shown as a liability of the Fund
and the value of the asset to be acquired shall be shown as an asset of the Fund;
- sell any asset, the value of the consideration to be received for such asset shall be shown as an asset of the Fund and
the asset to be delivered shall not be included in the assets of the Fund;
provided however, that if the exact value or nature of such consideration or such asset is not known on such Valuation
Date then its value shall be estimated by the Fund.
Art. 14. Frequency and Temporary Suspension of Calculation of Net Asset Value per Share, of Issue and Redemption
of Shares. With respect to each Class and/or Tranche of Shares, the Net Asset Value per Share and the price for the
issue, redemption and conversion (if any) of Shares shall be calculated from time to time by the Fund or any agent appointed
thereto by the Fund, at least at least once a year, at a frequency determined by the Board and specified in the Issue
Document as well as on each day by reference to which the Board approves the pricing of an issue, a redemption or a
conversion (if any) of Shares, provided that this is in compliance with applicable laws and regulations, such date or time
of calculation being referred to herein as a "Valuation Date".
The Fund may temporarily suspend the determination of the Net Asset Value per Share of any particular Class and/
or Tranche and the issue, redemption and conversion (if any) of its Shares from its Shareholders from and to Shares of
each Class and/or Tranche:
a) during any period when any market or stock exchange which is the principal market or stock exchange on which a
substantial portion of the investments of the Fund is listed is closed, other than for ordinary holidays, or during which
dealings are considerably restricted or suspended;
b) when for any other exceptional circumstance the prices of any investments owned by the Fund cannot promptly
or accurately be ascertained;
c) when the means of communication normally used to calculate the value of assets in the Fund are suspended or
when, for any reason whatsoever, the value of an investment in the Fund cannot be calculated with the desired speed
and precision;
d) when restrictions on exchange or the transfer of capital prevent the execution of dealings for the Fund or when
buying and selling transactions on their behalf cannot be executed at normal exchange rates;
e) when factors which depend, among other things, on the political, economic, military and monetary situation and
which evade the control, responsibility and means of action of the Fund, prevent the Fund from having access to its assets
and from calculating their Net Asset Value in a normal or reasonable manner;
f) when the Board so decides, provided all Shareholders are treated on an equal footing and all relevant laws and
regulations are applied as soon as an extraordinary general meeting of Shareholders of the Fund has been convened for
the purpose of deciding on the liquidation or dissolution of the Fund.
Any such suspension shall be published, if appropriate, by the Fund and shall be notified, if appropriate, to the concerned
investors.
Any application for subscription or redemption or conversion (if any) of Shares shall be irrevocable except in the event
of a suspension of the calculation of the Net Asset Value of the Shares to be subscribed, redeemed or converted in a
specific Class and/or Tranche and, in such event, a withdrawal will only be effective if written notification is received by
the Administrative Agent (in its capacity as registrar agent) before the termination of the period of suspension.
Title III - Administration and Supervision
Art. 15. Directors. The Fund shall be managed by a Board composed of at least three (3) members and not more than
seven (7) members, who need not be Shareholders. They shall be elected initially for a term of three (3) years renewable
for successive annual periods thereafter. The Directors shall be elected by the Shareholders at a general meeting of
Shareholders; the latter shall further determine the number of Directors, their remuneration and the term of their office.
Inasmuch as permitted by the Luxembourg law and the CSSF, a legal entity may be appointed as Director of the Fund.
In such case, such legal entity must designate a permanent representative who shall perform this role in the name and on
behalf of the legal entity. The relevant legal entity may only remove its permanent representative if it appoints his successor
at the same time.
The general meeting of Shareholders shall choose and appoint as Directors:
i) two directors from a list of candidates submitted by KfW;
ii) up to three directors from the lists of candidates submitted by the three largest holders of Class B Shares (deter-
mined by the number of issued Shares held), other than the Investment Manager and the Shareholders having already
submitted a list of candidates as above;
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iii) up to one director from a list of candidates submitted by the holders of Class C Shares (determined by the number
of issued Shares held), other than the Shareholders having already submitted a list of candidates as above; and
iv) up to one director from a list submitted by the other Shareholders.
If any of the above Shareholders fail to submit a list of candidates, as further provided for in the Issue Document, the
general meeting of Shareholders shall elect instead any candidate on its discretion.
Any Director may be removed with or without cause or be replaced at any time by resolution adopted by the general
meeting of Shareholders.
In the event of a vacancy in the office of a Director, the remaining Directors may temporarily fill such vacancy until
the next general meeting of Shareholders which will be asked to a final decision regarding such nomination.
Art. 16. Board Meetings. The Board will choose a chairman from among its members. It may choose a secretary, who
does not have to be a Director, who shall write and keep the minutes of the meetings of the Board and of the meetings
of Shareholders. The Board shall meet upon call by the chairman or any two Directors, at the place indicated in the notice
of meeting. The first chairman may be appointed by the first general meeting of Shareholders.
The chairman shall preside at the meetings of the Board and of the Shareholders. In his absence, the Shareholders or
the Directors shall decide by a majority vote that another Director, or in case of a Shareholders’ meeting, that any other
person shall be in the chair of such meetings.
Subject to the last paragraph of this Article 16, the Directors may only act at duly convened meetings of the Board.
Written notice of any meeting of the Board shall be given to all Directors at least ten (10) days prior to the date set
for such meeting, except in circumstances of emergency, in which case the nature of such circumstances shall be set forth
in the notice of meeting. If all the Directors are present or represented, they may waive all convening requirements and
formalities. Separate notice shall not be required for meetings held at times and places fixed in a resolution adopted by
the Board.
Any Director may act at any meeting by appointing in writing, by telefax, electronic mail or any other similar means
of communication another Director as his proxy. A Director may also appoint another Director to represent him by
telephone, such appointment to be confirmed in writing at a later stage. A Director may represent several of his colleagues.
Any Director may participate in a meeting of the Board by conference call or similar means of communications equip-
ment whereby all persons participating in the meeting can hear each other, and participating in a meeting by such means
shall constitute presence in person at such meeting.
The Board can deliberate or act validly only if at least the majority of the Directors are present or represented.
Resolutions of the Board are taken as follows: the quorum shall be a majority of the Directors being present or
represented and the resolution shall be passed by a majority vote of the Directors present or represented at the meetings
of the Board.
In the event that at any meeting the number of votes for or against a resolution is equal, the chairman of the meeting
shall not have a casting vote.
Resolutions of the Board will be recorded in minutes signed by the chairman of the meeting. Copies of extracts of
such minutes to be produced in judicial proceedings or elsewhere will be validly signed by the chairman of the meeting
or any two Directors.
Votes may also be cast by fax, e-mail, or telephone provided that, in the case of a vote cast by telephone, such vote
is confirmed in writing.
Resolutions in writing approved and signed by all Directors shall have the same effect as resolutions voted at the
Directors’ meetings; each Director shall approve such resolution in writing, by telefax, electronic mail or any other similar
means of communication. Such approval shall be confirmed in writing and all documents shall form the record that proves
that such decision has been taken.
Art. 17. Powers of the Board of Directors. The Board is vested with the broadest powers to perform all acts of
disposition and administration within the Fund’s purpose, in compliance with the Investment Policy as determined in
Article 20 hereof.
All powers not expressly reserved by Law of 10 August 1915 or by the present Articles to the general meeting of
Shareholders are in the competence of the Board.
Art. 18. Delegation of Power. The Board may delegate its powers to conduct the daily management and affairs of the
Fund and the representation of the Fund for such daily management and affairs to any member or members of the Board,
managers, officers or other agents, legal or physical person, who need not be Shareholders, acting either alone or jointly,
under such terms and with such powers as the shall determine.
The Board may also confer all powers and special mandates to any person, who need not be a Director, appoint and
dismiss all officers and employees and fix their emoluments.
Unless otherwise stipulated by these Articles, the officers and agents of the Fund shall have the rights and duties
conferred upon them by the Board.
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Furthermore, the Board may, among others, appoint special committees, such as the Investment Committee (as further
described in Article 22 hereof and in the Issue Document) and may appoint any other special committee, in order to
conduct certain tasks and functions expressly delegated to such committee.
Art. 19. Corporate Signature. Vis-à-vis third parties, in all circumstances, the Fund is validly bound by (i) the joint
signature of any two (2) Directors, or (ii) by the joint or single signature of any person(s) to whom such signatory authority
has been delegated in writing by the Board but only within the limits of such power, or (iii) – as long as there is only one
Director – by the joint signature of any one (1) Director and any one (1) member of the Investment Committee. For the
avoidance of doubt, the Directors may not bind the Fund by their individual signatures, except if specifically authorized
thereto by resolution of the Board.
Towards third parties, in all circumstances, the Fund shall also, if a daily manager has been appointed in order to
conduct the daily management and affairs of the Fund and represent the Fund in such daily management and affairs, be
bound by the sole signature of the daily manager.
Art. 20. Investment Policies and Restrictions. The Board, based upon the principle of risk spreading, has the power to
determine the investment policies and guidelines to be applied and the course of conduct of the management and business
of the Fund, all within the restrictions as shall be set forth by the Board in compliance with applicable laws and regulations.
The Fund is authorised (i) to employ techniques and instruments relating to transferable securities provided that such
techniques and instruments are used for the purpose of efficient portfolio management, including the creation of subsi-
diaries, and (ii) to employ techniques and instruments intended to provide protection against exchange risks in the context
of the management of its assets and liabilities.
Art. 21. Investment Manager and Adviser. The Fund may appoint an Investment Manager to manage, under the overall
control and responsibility of the Board, the securities portfolio of the Fund.
The Fund may furthermore appoint an Investment Adviser with the responsibility to prepare the purchase and sale of
any eligible investments for the Fund and otherwise advise the Fund with respect to asset management.
The powers and duties of the Investment Manager and the Investment Adviser as well as their remuneration will be
described in an investment management agreement and/or investment advisory agreement to be entered into by the Fund
and the Investment Manager and/or Investment Advisor (as the case may be).
Art. 22. Investment Committee. The Board shall appoint an Investment Committee, which will be composed of not
less than two members and maximum five members who do not need to be Director. Each Investment Committee
member may have an alternate who will be able to replace such member with full powers of substitution in case the
principal member is unable to attend an Investment Committee meeting. Members of the Investment Committee shall
be appointed by the Board.
The Investment Committee will monitor (i) the pipeline of investments, (ii) portfolio transactions and disinvestments;
and (iii) the financial structure and performance of the portfolio and investments. Any investments, disinvestments or
changes of commercial arrangements shall require the approval of the Investment Committee or the Board, unless pro-
vided otherwise in the Issue Document. The Investment Committee will furthermore approve all potential investments
selected by the Investment Manager and may also give instructions with respect to some investments as further specified
in the Issue Document.
The Investment Committee will meet a minimum of four times per year and at any time as convened by two members
of the Investment Committee.
The decisions of the Investment Committee will be validly taken provided that at least 50% of its members are present
at a meeting or replaced by their respective alternate. Attendance via conference call or voting by e-mail is assimilated
to physical presence of the relevant members.
Each member of the Investment Committee has one vote. Decisions are taken by a simple majority. If a valid majority
vote cannot be secured, the matter under consideration will automatically be referred to the Board for decision.
Art. 23. Conflict of Interest. The Shareholders, the Noteholders, members of the Board, members of the Investment
Committee, the Investment Manager, the Custodian, the Administrative Agent and their respective affiliates, directors,
officers and shareholders (collectively the "Parties") are or may be involved in other financial, investment and professional
activities which may cause conflict of interest with the management and administration of the Fund. These include the
management of other funds, purchases and sales of securities, brokerage services, custodian and safekeeping services and
serving as directors, officers, advisors or agents of other funds or other companies, including companies in which the
Fund may invest. Each of the Parties will respectively ensure that the performance of their respective duties will not be
impaired by any such involvement that they might have.
In the event that a conflict of interest does arise, the relevant Parties shall notify the Board. The Board and the relevant
Parties involved shall endeavour to ensure that it is resolved fairly within reasonable time and in the interest of the Fund
and the Investors in accordance with the provisions set forth in the Issue Document and summarised below.
Art. 23.1 Investment Manager. Where the Investment Manager is concerned, the Investment Manager shall in per-
forming its duties at all times act in the best interests of the Fund and its Investors.
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Art. 23.2. Investment Committee. In the event that a member of the Investment Committee has an interest conflicting
with that of the Fund in a matter which is subject to the Investment Committee's approval, that member must make such
interest known to the Investment Committee and to the Board. This member must not deliberate or vote upon any such
transaction.
Art. 23.3. Directors and Officers. Any Director having an interest in a transaction submitted for approval to the Board
conflicting with that of the Fund shall advise the Board thereof and cause a record of his statement to be included in the
minutes of the meeting. He may not take part in these deliberations. At the next following general meeting of Shareholders,
before any other resolution is put to vote, a special report shall be made on any transactions in which any of the Directors
may have had an interest conflicting with that of the Fund. The preceding paragraphs shall not apply where the decision
of the Board of relates to current operations entered into under normal conditions. The term "opposite interest", as
used in the preceding sentence, shall not include any relationship with or without interest in any matter, position or
transaction involving any person, company or entity as may from time to time be determined by the Board in its discretion.
No contract or other transaction between the Fund and any other company or firm shall be affected or invalidated
by the fact that any one or more of the Directors or officers of the Fund is interested in, or is a director, associate, officer
or employee of, such other company or firm. Any Director or officer of the Fund who serves as a director, associate,
officer or employee of any company or firm with which the Fund shall contract or otherwise engage in business shall not,
by reason of such affiliation with such other company or firm, be prevented from considering and voting or acting upon
any matters with respect to such contract or other business.
Art. 24. Indemnification of Directors. The Fund shall indemnify each Director, each member of the Investment Com-
mittee, each officer and each of their respective heirs, executors and administrators, against expenses reasonably incurred
by him in connection with any action, suit or proceeding to which he may be made a party by reason of his being or having
been a Director or officer of the Fund or a member of the Investment Committee or, at its request, of any other company
of which the Fund is a Shareholder or a creditor and from which he is not entitled to be indemnified, except in relation
to matters as to which he shall be finally adjudged in such action, suit or proceeding to be liable for gross negligence or
wilful misconduct; in the event of a settlement, indemnification shall be provided only in connection with such matters
covered by the settlement as to which the Fund is advised by counsel that the person to be indemnified did not commit
such a breach of duty. The foregoing right of indemnification shall not exclude other rights to which he may be entitled.
Art. 25. Auditors. The accounting data related in the annual report of the Fund shall be examined by an auditor
("réviseur d’entreprises agréé") appointed by the general meeting of Shareholders and remunerated by the Fund.
The auditor shall fulfil all duties prescribed by the Law of 13 February 2007.
Title IV - General meetings - Accounting Year – Distributions
Art. 26. General Meetings of Shareholders of the Fund. The general meeting of Shareholders of the Fund shall represent
the entire body of Shareholders of the Fund. Its resolutions shall be binding upon all the Shareholders regardless of the
Class and/or Tranche of Shares held by them. It shall have the broadest powers to order, carry out or ratify acts relating
to the operations of the Fund.
The general meeting of Shareholders shall meet upon call by the Board. A general meeting of Shareholders has to be
convened at the written request of the Shareholders, which together represent one tenth (10%) of the capital of the
Fund.
The annual general meeting of Shareholders shall be held, in accordance with Luxembourg law, at the registered office
of the Fund, or at such other place in the borough of Luxembourg City as may be specified in the notice of meeting, on
the third day of May of each year at 4 p.m. If such day is not a Business Day in Luxembourg, the annual general meeting
shall be held on the next following Business Day. Other meetings of Shareholders may be held at such places and times
as may be specified in the respective notices of meeting.
Shareholders shall meet in person, by video conference or by conference call upon call by the Board pursuant to a
notice setting forth the agenda sent at least fifteen (15) calendar days prior to the meeting to each registered Shareholder
at the Shareholder’s address in the register of Shareholders or at such other address previously indicated by the relevant
Shareholder. The agenda shall be prepared by the Board except in the instance where the meeting is called on the written
demand of the Shareholders in which instance the Board may prepare a supplementary agenda.
Given that all Shares are in registered form, notices to Shareholders may be mailed by registered mail only. However,
to the extent required by Luxembourg law, further notices will be published in the Mémorial and in Luxembourg news-
papers.
If all Shareholders are present or represented and consider themselves as being duly convened and informed of the
agenda, they can waive all convening requirements and formalities.
The Board may determine all other conditions that must be fulfilled by Shareholders in order to attend any meeting
of Shareholders.
The business transacted at any meeting of the Shareholders shall be limited to the matters contained in the agenda
(which shall include all matters required by law) and business incidental to such matters.
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Each Share is entitled to one vote in compliance with Luxembourg law and these Articles. Shareholders may act either
in person or by giving a written proxy to another person who needs not be a Shareholder and may be a Director of the
Fund.
Unless otherwise provided for by law or these Articles, general meetings of Shareholders, including annual general
meetings, shall not validly deliberate unless at least 50% of the issued Share capital is either present or duly represented.
If this condition is not satisfied, a second meeting may be convened, by means of registered mails sent at least eight (8)
calendar days before the meeting. Such convening notice shall reproduce the agenda and indicate the date and results of
the previous meeting. The second meeting shall validly deliberate regardless of the portion of the capital represented.
Unless otherwise provided for by law or these Articles, resolutions of the general meeting of Shareholders, including
annual general meetings, are passed by a two-third majority of the votes cast.
For the avoidance of doubt, the Noteholders may, according to the Law of 10 August 1915, attend general meeting
of Shareholders and shall be entitled to speak but not to vote. However, they will be entitled to vote and their consent
will be required in limited cases provided for by the Law of 10 August 1915 such as the change of the nationality of the
Fund and any amendments to the Articles concerning the object or form of the Fund.
Art. 27. General Meetings of Shareholders in a Class and/or Tranche of Shares. In addition to Article 26 hereof, the
Shareholders of any Class and/or Tranche of Shares may hold, at any time, general meetings for any matters which are
specific to such Class and/or Tranche of Shares.
The provisions of Article 26 and of the Law of 10 August 1915 shall apply to such general meetings.
Each Share is entitled to one vote in compliance with Luxembourg law and these Articles. Shareholders may act either
in person or by giving a written proxy to another person who needs not be a Shareholder and may be a Director of the
Fund.
Unless otherwise provided for by law or herein, general meetings of Shareholders of a Class or Tranche shall not
validly deliberate unless 50% of the issued Share capital in the Class or Tranche are present or duly represented. If this
condition is not satisfied, a second meeting may be convened, by means of registered mails sent at least eight (8) calendar
days before the meeting. Such convening notice shall reproduce the agenda and indicate the date and results of the
previous meeting. The second meeting shall validly deliberate regardless of the portion of the capital represented allocated
to the relevant Class or Tranche.
Unless otherwise provided for by law or herein, resolutions of the general meeting of Shareholders of a Class or
Tranche are passed by a two-third majority of the votes cast.
Any resolution of the general meeting of Shareholders affecting the rights of the Shareholders of any Class and/or
Tranche vis-à-vis the rights of the Shareholders of any other Class and/or Tranche shall be subject to a resolution of the
general meeting of Shareholders of such Class and/or Tranche in compliance with article 68 of the Law of 10 August
1915.
Art. 28. General Meetings of Noteholders. Noteholders, holding Notes forming part of the same issue, shall form a
group (masse), the general meeting of Noteholders, organised in accordance with the provisions of the Law of 10 August
1915.
The general meeting of Noteholders shall comprise the Noteholders forming part of the same group. However, where
a matter is common to Noteholders belonging to several groups, they shall be convened to a single meeting.
The general meeting of Noteholders may be convened by the representative(s) of the Noteholders' group (if such
representative(s) are appointed) or by the Board. The representatives of the group (if any), provided an advance of
expenses has been made to them in accordance with the Law of 10 August 1915 for convening and holding the meeting,
and the Board must convene a meeting of Noteholders within a month, if they are called upon to do so by Noteholders
representing one twentieth (5%) of the Notes of the same issue outstanding.
All Noteholders, notwithstanding any provision to the contrary, but subject to compliance with the terms and con-
ditions of the issue, shall be entitled to vote personally or by proxy. The voting rights attaching to the Notes shall be
commensurate with the portion of the loan which they represent. Each Note shall carry the right to at least one vote.
Members of the corporate bodies of the Fund and any persons authorised to do so by the meeting of Noteholders may
attend the meeting with the right to speak but not to vote.
The meeting shall be presided over by the representative(s) of the Noteholders' group, if any have been appointed.
The meetings of Noteholders shall have the powers and are to be conducted in the manner prescribed by the Law of
10 August 1915.
Art. 29. Accounting Year. The accounting year of the Fund shall commence on 1
st
January of each year and shall
terminate on the 31
st
December of the same year.
Art. 30. Distributions. The right to dividends, and the right to capital reimbursement of each Class of Shares, and any
distribution rights relating to the Shares and Notes, are determined by the Board in accordance with the provisions of
the Issue Document, in particular, the "Payment Waterfall", and as further provided for in Article 12 hereof.
For any Class of Shares entitled to distributions, the Board may decide to pay interim dividends.
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Payments of distributions to holders of registered Shares shall be made to such Shareholders at their addresses in the
register of Shareholders.
Distributions may be paid in such currency and at such time and place that the Board shall determine from time to
time.
No distribution of dividends can take place if, following distribution, the capital of the Fund would fall below the
minimum capital provided for by the Law of 13 February 2007. Any distribution that has not been claimed within five (5)
years of its declaration shall be forfeited and revert to the relevant Class or Classes of Shares or Notes.
No interest shall be paid on a dividend declared by the Fund and kept by it at the disposal of its beneficiary.
Title V - Final Provisions
Art. 31. Custodian. To the extent required by law, the Fund shall enter into a custody agreement with banking or
saving institution as defined by the law of 5 April 1993 on the financial sector, as amended (herein referred to as the
"Custodian").
The Custodian shall fulfil the duties and responsibilities as provided for by the Law of 13 February 2007 and the
agreement entered into with the Fund.
If the Custodian desires to retire, the Board shall use its best endeavours to find a successor custodian within two
months of the effectiveness of such retirement. The Board may terminate the appointment of the Custodian but shall not
remove the Custodian unless and until a successor custodian shall have been appointed to act in the place thereof.
Art. 32. Dissolution of the Fund. The Fund may at any time be dissolved by a resolution of the general meeting of
Shareholders. At this meeting, on first call Shareholders who represent at least two-thirds of the Share capital of the Fund
must be present or represented and the decision to dissolve and liquidate the Fund must be taken by at least two-thirds
of the Shareholders present or represented (for the avoidance of doubt, votes cast shall not include votes attaching to
Shares in respect of which a Shareholder has not taken part in the vote or has abstained or has returned a blank or invalid
vote). If the quorum requirement is not met, a second meeting may be convened. At this second meeting, Shareholders
who represent at least half of the Share capital of the Fund must be present or represented and the decision to dissolve
and liquidate the Fund must be taken by at least two-thirds of the Shareholders present or represented. If the quorum
requirement is again not met, a third meeting may be convened. The third meeting shall validly deliberate regardless of
the proportion of capital represented. At this third meeting, resolutions must still be carried by at least two-thirds of the
votes validly cast.
Whenever the Share capital falls below two-thirds of the minimum capital indicated in Article 6 hereof, the question
of the dissolution and liquidation of the Fund shall be referred to the general meeting of Shareholders by the Board. The
general meeting, for which no quorum shall be required, shall decide by simple majority of the votes of the Shares
represented at the meeting.
The question of the dissolution of the Fund shall further be referred to the general meeting of Shareholders whenever
the Share capital falls below one-fourth of the minimum capital set by Article 6 hereof; in such an event, the general
meeting shall be held without any quorum requirements and the dissolution and liquidation may be decided at the majority
of one fourth of the votes of the Shares present and represented at the meeting.
The meeting must be convened so that it is held within a period of forty (40) days from ascertainment that the net
assets of the Fund have fallen below two-thirds or one-fourth of the legal minimum, as the case may be.
Art. 33. Liquidation. Liquidation shall be carried out by one or several liquidator(s), who may be physical persons or
legal entities, appointed by the general meeting of Shareholders which shall determine their powers and their compen-
sation.
The liquidator(s) shall use its/their best efforts to terminate, sell or otherwise dispose of any outstanding investments
of the Fund.
The liquidator(s) shall apply the assets available for distribution among the Shareholders and the Noteholders in ac-
cordance with the provisions of the Issue Document and shall act in accordance with applicable laws and regulations when
disposing of the investments and terminating the Fund.
Art. 34. Amendments to the Articles of Incorporation. These Articles may be amended by a general meeting of
Shareholders subject to the following quorum and majority requirements. The general meeting of Shareholders shall not
validly deliberate unless at least 50% of the issued Share capital are represented and the agenda indicates the proposed
amendments to the Articles and, where applicable, the text of those amendments which concern the objects or the form
of the Fund.
If the quorum requirement described above is not satisfied, a second meeting may be convened, by means of notices
published twice, at fifteen (15) days interval at least and fifteen (15) days before the meeting in the Mémorial and in two
Luxembourg newspapers. Such convening notice shall reproduce the agenda and indicate the date and results of the
previous meeting. The second meeting shall validly deliberate regardless of the proportion of the capital represented.
At both meetings, resolutions concerning the amendment of the Articles, in order to be adopted, must be carried by
at least seventy-five percent (75%) of the votes validly cast.
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Art. 35. Amendment to the Issue Document. The general meeting of Shareholders shall approve material amendments
to the Issue Document regarding the mission statement, the investment policy, the payment waterfall, the risk ratios or
the fee structure subject to compliance with the Law of 13 February 2007 and provided it has obtained the approval on
such amendments from Shareholders representing at least seventy-five percent (75%) of the votes attached to the share
capital of the Fund.
Should such amendments be applicable only to specific Class(es) and or Tranche(s), the Board would be authorised
to amend materially these provisions subject to compliance with the Law of 13 February 2007 and provided it has obtained
the approval on such amendments from Shareholders representing at least seventy-five percent (75%) of the votes atta-
ched to the share capital of the relevant Class(es) and or Tranche(s).
In case any of the above amendments to the Issue Document also entails an amendment of these Articles, such decision
shall be passed by a resolution of an extraordinary general meeting of Shareholders in accordance with the form, quorum
and majority requirements set forth in the Article 34 hereof to amend the Articles and in compliance with Luxembourg
laws and regulations.
Art. 36. Statement. Words importing a masculine gender also include the feminine gender and words importing persons
or Shareholders also include corporations, partnerships associations and any other organized group of persons whether
incorporated or not.
Art. 37. Applicable Law. All matters not governed by these Articles shall be determined in accordance with the Law
of 10 August 1915 and the Law of 13 February 2007 as such laws have been or may be amended from time to time.
There being no further business on the Agenda, the Meeting was thereupon closed.
The undersigned notary who understands and speaks English, states herewith that on request of the above appearing
persons, the present deed is only worded in English, in accordance of the law of 17 December 2010; on request of the
same appearing persons, the present deed will only be worded in English text.
Whereof, the present notarial deed was drawn up in Luxembourg, on the day named at the beginning of this document.
The document having been read to the meeting, the members of the board of the meeting, all of whom are known to
the notary by their names, surnames, civil status and residences, signed together with us, the notary, the present original
deed, no shareholder expressing the wish to sign.
Signé: N. HOFFMANN, L. MOULARD, P. BELCHE, C. DELVAUX.
Enregistré à Redange/Attert, le 05 novembre 2012. Relation: RED/2012/1455. Reçu soixante-quinze euros 75,00 €.
<i>Le Receveuri> (signé): T. KIRSCH.
POUR EXPEDITION CONFORME, délivrée aux fins de dépôt au Registre de Commerce et des Sociétés de Luxem-
bourg et aux fins de publication au Mémorial C, Recueil des Sociétés et Associations.
Redange-sur-Attert, le 06 novembre 2012.
Me Cosita DELVAUX.
Référence de publication: 2012145093/1282.
(120190937) Déposé au registre de commerce et des sociétés de Luxembourg, le 7 novembre 2012.
Ivry S.A., Société Anonyme,
(anc. Postcard SA).
Siège social: L-2165 Luxembourg, 26-28, Rives de Clausen.
R.C.S. Luxembourg B 140.486.
L'an deux mille douze le huit octobre.
Par devant Nous, Maître Martine SCHAEFFER, notaire de résidence à Luxembourg.
S'est réunie l'assemblée générale extraordinaire de la société anonyme “POSTCARD S.A.” avec siège social au 26-28,
Rives de Clausen, L-2165 Luxembourg, inscrite au Registre de Commerce et des Sociétés de Luxembourg sous le numéro
B 140.486, constituée en date du 16 juillet 2008, par Maître Christine DOERNER, notaire de résidence à Bettembourg,
publié au Mémorial C, Recueil des Sociétés et Association, numéro 2015 du 20 août 2008. Les statuts ont été modifiés
en dernier lieu par le même notaire, selon acte rectificatif publié au Mémorial C, Recueil des Sociétés et Associations,
numéro 2493 du 11 octobre 2008.
La séance est ouverte sous la présidence de Madame Marilyn KRECKE, employée privée, demeurant professionnelle-
ment au 74, avenue Victor Hugo, L-1750 Luxembourg.
Le Président désigne comme secrétaire Monsieur Gianpiero SADDI, employé privée, avec même adresse profession-
nelle.
A été appelé aux fonctions de scrutateur, Madame Corinne PETIT, employée privée, avec même adresse profession-
nelle.
Le bureau ayant été ainsi constitué, le Président déclare et prie le notaire instrumentant d'acter ce qui suit:
I. L'ordre du jour de l'assemblée est le suivant:
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1. Changement de la dénomination de la société en “Ivry S.A.”;
2. Modification afférente du 1
er
alinéa de l’article 1
er
des statuts.
II. L’actionnaire unique représenté, la procuration de l’actionnaire unique représenté et le nombre d'actions qu'il détient
sont renseignés sur une liste de présence, cette liste de présence signée par le mandataire de l’actionnaire unique repré-
senté, le bureau et le notaire instrumentant, restera annexée au présent acte.
La procuration de l’actionnaire unique représenté y restera annexée de même.
III. L'intégralité du capital social étant présente ou représentée à la présente assemblée et tous les actionnaires présents
ou représentés déclarant avoir eu parfaite connaissance de l'ordre du jour avant l'assemblée, il a donc pu être fait abs-
traction des convocations d'usage.
IV. La présente assemblée, représentant l'intégralité du capital social, est régulièrement constituée et peut valablement
délibérer sur l'ordre du jour.
Ensuite l'assemblée, après délibération, a pris à l'unanimité les résolutions suivantes:
<i>Première résolutioni>
L’assemblée décide de changer la dénomination de la société en “Ivry S.A.”.
<i>Deuxième résolutioni>
Suite à la prédite résolution le 1
er
alinéa de l’article 1
er
des statuts est à lire comme suite:
“ Art. 1
er
. (alinéa 1
er
). Il est formé une société anonyme sous la dénomination de “Ivry S.A.”.
<i>Fraisi>
Le montant des frais, dépenses et rémunérations quelconques incombant à la société en raison des présentes s'élève
approximativement à mille deux cents euros (1.200.- EUR).
Plus rien n'étant à l'ordre du jour, la séance est levée.
Dont acte, fait et passé à Luxembourg, les jour, mois et an qu'en tête des présentes.
Et après lecture, les comparants ont signé avec le notaire instrumentant le présent acte.
Signé: M. Krecké, G. Saddi, C. Petit et M. Schaeffer.
Enregistré à Luxembourg Actes Civils, le 10 octobre 2012. Relation: LAC/2012/47434. Reçu soixante-quinze euros
Eur 75.-
<i>Le Receveuri>
(signée): Irène THILL.
POUR EXPEDITION CONFORME, délivrée à la demande de la prédite société, aux fins d’inscription au Registre de
Commerce.
Luxembourg, le 23 octobre 2012.
Référence de publication: 2012138213/54.
(120182080) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
aeris CAPITAL Sustainable Impact, Société à responsabilité limitée.
Siège social: L-1720 Luxembourg, 2, rue Heinrich Heine.
R.C.S. Luxembourg B 165.995.
Im Jahre zweitausendzwölf, am zehnten Oktober
Vor dem unterzeichneten Notar Henri Hellinckx, mit dem Amtssitz in Luxemburg.
Fand die Außerordentliche Generalversammlung der Gesellschafter (die „Generalversammlung“) der aeris CAPITAL
Sustainable Impact, einer Gesellschaft mit beschränkter Haftung (société à responsabilité limitée) gegründet und bestehend
nach den Gesetzen des Großherzogtums Luxemburg gemäß Urkunde aufgenommen durch Notar Henri Hellinckx, vor-
benannt, am 21. Dezember 2011, veröffentlicht im Mémorial C, Nummer 240 vom 28.01.2012, und mit Gesellschaftssitz
in 2, rue Heinrich Heine, L-1720 Luxemburg, eingetragen im Handels-und Gesellschaftsregister von Luxemburg unter
Nummer B 165.995 statt.
Als Vorsitzender der Generalversammlung amtiert Herr Rüdiger Sailer, Privatangestellter, beruflich ansässig in 21,
Avenue de la Liberté, L-1931 Luxemburg,
welcher Frau Miriam Schwarz, Privatangestellter, beruflich ansässig in 21, Avenue de la Liberté, L-1931 Luxemburg,
zur Protokollführerin bestellt.
Die Generalversammlung bestellt Frau Jessica Schmitz, Privatangestellte, beruflich ansässig in 21, Avenue de la Liberté,
L-1931 Luxemburg, zur Stimmenzählerin.
Der Vorsitzende stellt gemeinsam mit den Versammlungsteilnehmern folgendes fest:
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I. Gegenwärtigem Protokoll ist ein Anteilsverzeichnis der Gesellschafter beigefügt. Dieses Verzeichnis wurde von den
Gesellschaftern bzw. deren Vertretern, sowie von dem Vorsitzenden, der Protokollführerin, der Stimmenzählerin und
dem unterzeichneten Notar unterschrieben.
Die von den Gesellschaftern ausgestellten Vollmachten werden ebenfalls gegenwärtiger Urkunde „ne varietur“ para-
phiert beigefügt, um mit derselben einregistriert zu werden.
II. Sämtliche zwölftausendfünfhundert (12.500) Anteile, welche das gesamte Gesellschaftskapital darstellen sind in ge-
genwärtiger Generalversammlung vertreten. Die so anwesenden Aktionäre erklären sich ordnungsgemäß zu der gegen-
wärtigen Versammlung eingeladen und verzichten auf die Einhaltung weiterer Förmlichkeiten. Somit ist gegenwärtige
Versammlung rechtsgültig zusammengetreten.
III. Die Tagesordnung der Generalversammlung ist folgende:
1. Änderung des Artikels 8.3.1 der Gesellschaftssatzung wie folgt:
Bisheriger Artikel 8.3.1 in der englischen Fassung:
Art. 8.3.1. The Company is bound towards third parties in all matters by the sole signature of any manager.
Neuer Artikel 8.3.1 in der englischen Fassung:
Art. 8.3.1. The Company is bound towards third parties in all matters by the collective signature of any two managers.
Bisheriger Artikel 8.3.1 in der deutschen Fassung:
Art. 8.3.1. Die Gesellschaft wird gegenüber Dritten in allen Angelegenheiten durch die Unterschrift eines jeden Ge-
schäftsführers alleine gebunden.
Neuer Artikel 8.3.1 in der deutschen Fassung:
Art. 8.3.1. Die Gesellschaft wird gegenüber Dritten in allen Angelegenheiten durch die gemeinschaftliche Unterschrift
zweier beliebiger Geschäftsführer gebunden.
Nach Beratung fasst die Generalversammlung folgenden Beschluss:
<i>Beschlussi>
Die Generalversammlung beschließt, Artikel 8.3.1 der Gesellschaftssatzung in der deutschen und englischen Fassung
abzuändern, um ihm folgenden Wortlaut zu geben:
Artikel 8.3.1 in der englischen Fassung:
„ Art. 8.3.1. The Company is bound towards third parties in all matters by the collective signature of any two managers.”
Artikel 8.3.1 in der deutschen Fassung:
„ Art. 8.3.1. Die Gesellschaft gegenüber Dritten in allen Angelegenheiten durch die gemeinschaftliche Unterschrift
zweier beliebiger Geschäftsführer gebunden.“
Die übrigen Artikel der Gesellschaftssatzung bleiben unberührt.
Da hiermit die Tagesordnung erschöpft ist, erklärt der Vorsitzende die Generalversammlung für geschlossen.
WORÜBER URKUNDE, geschehen und aufgenommen zu Luxemburg, am Datum wie eingangs erwähnt.
Nach Vorlesung und Erklärung des Vorgeschehenen an die Komparenten, welche dem unterzeichneten Notar durch
Familiennamen, Vornamen, Zivilstatus und Wohnort bekannt sind, haben die Mitglieder des Versammlungsrates gegen-
wärtige Urkunde mit dem Notar unterschrieben.
Gezeichnet: R. SAILER, M. SCHWARZ, J. SCHMITZ und H. HELLINCKX.
Enregistré à Luxembourg A.C., le 16 octobre 2012. Relation: LAC/2012/48496. Reçu soixante-quinze euros (75.-EUR).
<i>Le Receveuri> (signé): I. THILL.
- FÜR GLEICHLAUTENDE AUSFERTIGUNG – Der Gesellschaft auf Begehr erteilt.
Luxemburg, den 22. Oktober 2012.
Référence de publication: 2012136944/63.
(120181276) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Milo S.A., Société Anonyme.
Siège social: L-2132 Luxembourg, 36, avenue Marie-Thérèse.
R.C.S. Luxembourg B 156.457.
Le bilan au 31.12.2011 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
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Luxembourg, le 19 octobre 2012.
Pour ordre
EUROPE FIDUCIAIRE (Luxembourg) S.A.
Boîte Postale 1307
L – 1013 Luxembourg
Référence de publication: 2012137371/14.
(120181337) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Fidugia S.A., Société Anonyme.
Siège social: L-1538 Luxembourg, 2, place de France.
R.C.S. Luxembourg B 135.257.
L'an deux mille douze, le vingt-huit septembre.
Par-devant Maître Paul DECKER, notaire de résidence à Luxembourg, (Grand-Duché de Luxembourg).
S'est réunie l'assemblée générale extraordinaire des actionnaires de la société anonyme "FIDUGIA S.A.", avec siège
social à L-1538 Luxembourg, 2, place de France, constituée suivant acte reçu par Maître Emile SCHLESSER, notaire de
résidence à Luxembourg, en date du 7 décembre 2007, publié au Mémorial C, Recueil des Associations et des Sociétés
numéro 337 du 8 février 2008,
Inscrite au Registre de Commerce et des Sociétés de Luxembourg sous la section B numéro 135.257.
les statuts ayant été modifiés par acte reçu par Maître Edouard Delosch, alors notaire de résidence à Rambrouch, en
date du 2 novembre 2011, publié au Mémorial C Recueil des Sociétés et Associations numéro 3069 du 14 décembre
2011,
L'assemblée est ouverte à 10.00 heures et présidée par Madame Géraldine NUCERA, clerc de notaire, demeurant
professionnellement à L-2740 Luxembourg.
La présidente désigne comme secrétaire Mademoiselle Virginie PIERRU, clerc de notaire, demeurant professionnel-
lement à L-2740 Luxembourg.
L'assemblée choisit comme scrutateur Monsieur Luca VALENTINI, administrateur de société, demeurant profession-
nellement à Luxembourg.
Le bureau ayant ainsi été constitué, la Présidente expose et prie le notaire instrumentant d'acter:
I. Que la présente assemblée générale extraordinaire a pour ordre du jour:
<i>Ordre du jour:i>
1.- Augmentation du capital social à concurrence de cent mille euros (100.000,- EUR) pour le porter de son montant
actuel de cent cinquante mille euros (150.000,- EUR) à deux cent cinquante mille euros (250.000,- EUR).
2.- Création et émission de mille (1.000) actions nouvelles d'une valeur nominale de cent euros (100,- EUR) chacune,
jouissant des mêmes droits et avantages que les actions existantes.
3.- Souscription et libération des actions nouvelles.
4.- Modification afférente de l'article 3 des statuts.
5.- Modification de l'article 2 des statuts concernant l'objet social en vue de lui donner la teneur suivante:
«La société a pour objet l'activité de domiciliataire de sociétés au sens de la loi modifiée du 5 avril 1993 sur le secteur
financier, ainsi que la prestation de tous services au sens large découlant de cette activité, telles que la constitution, le
développement, la réorganisation, la gestion et la domiciliation de toutes entreprises, organisations, sociétés et fondations.
Dans la mesure permise par la loi, la société peut accomplir toutes opérations commerciales, industrielles, financières,
mobilières et immobilières, se rapportant directement ou indirectement à son objet social et elle peut acquérir des
participations dans toutes les sociétés ayant un objet similaire ou complémentaire au sien. La société pourra emprunter
avec ou sans garanties.
La société peut ouvrir des succursales à l'intérieur et à l'extérieur du pays.»
6.- Modification de l'article 7 des statuts concernant le contrôle des opérations de la société comme suit:
« Art.7. Les opérations de la société sont contrôlées par un réviseur d'entreprises agréé nommé chaque année par le
conseil d'administration.»
7.- Divers.
II. Que l'actionnaire unique à la présente assemblée ainsi que le nombre d'actions qu'il possède ont été portés sur une
liste de présence; ladite liste de présence, signée "ne varietur" par l'actionnaire unique, par les membres du bureau et le
notaire instrumentant restera annexée au présent acte pour être formalisée avec lui.
La procuration de l'actionnaire représenté après avoir été paraphée «ne varietur» par le mandataire de l'actionnaire
représenté, les membres du bureau et le notaire instrumentant
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III. L'intégralité du capital social étant représentée, il a pu être fait abstraction des convocations d'usage, l'actionnaire
représenté se reconnaissant dûment convoqué et déclarant par ailleurs avoir eu connaissance de l'ordre du jour qui leur
a été communiqué au préalable.
IV. La présente assemblée réunissant l'intégralité du capital social est régulièrement constituée et peut délibérer va-
lablement, telle qu'elle est constituée, sur les objets portés à l'ordre du jour.
Le Président soumet ensuite au vote des membres de l'assemblée les résolutions suivantes:
<i>Première résolutioni>
L'assemblée décide d'augmenter le capital social à concurrence de cent mille euros (100.000,- EUR) pour le porter de
son montant actuel de cent cinquante mille euros (150.000,- EUR) à deux cent cinquante mille euros (250.000,- EUR).
<i>Deuxième résolutioni>
L'assemblée générale décide de créer et d'émettre mille (1.000) actions nouvelles d'une valeur nominale de cent euros
(100,-EUR) chacune, jouissant des mêmes droits et avantages que les actions existantes.
<i>Troisième résolutioni>
<i>Intervention - Souscription - Libérationi>
Les mille (1.000) actions nouvelles ont toutes été entièrement souscrites par l'actionnaire unique et libérées en totalité
par un apport en numéraire de sorte que la somme de cent mille euros (100.000,- EUR) se trouve dès à présent à la libre
disposition de la société, ainsi qu'il en a été justifié au notaire instrumentant qui le constate.
<i>Quatrième résolutioni>
Suite aux résolutions qui précèdent, l'associé unique décide de modifier l'article 3 des statuts, et qui se lira comme
suit:
« Art. 3. Le capital émis de la Société est fixé à deux cent cinquante mille Euros (€ 250.000) divisé en deux mille cinq
cents (2.500) actions ayant une valeur nominale de cent Euros (€ 100,00) chacune, toutes ces actions étant entièrement
libérées.»
<i>Cinquième résolutioni>
L'associé unique modifie l'article 2 des statuts concernant l'objet social et qui se lira comme suit:
« Art. 2. La société a pour objet l'activité de domiciliataire de sociétés au sens de la loi modifiée du 5 avril 1993 sur le
secteur financier, ainsi que la prestation de tous services au sens large découlant de cette activité, telles que la constitution,
le développement, la réorganisation, la gestion et la domiciliation de toutes entreprises, organisations, sociétés et fon-
dations.
Dans la mesure permise par la loi, la société peut accomplir toutes opérations commerciales, industrielles, financières,
mobilières et immobilières, se rapportant directement ou indirectement à son objet social et elle peut acquérir des
participations dans toutes les sociétés ayant un objet similaire ou complémentaire au sien. La société pourra emprunter
avec ou sans garanties.
La société peut ouvrir des succursales à l'intérieur et à l'extérieur du pays.»
<i>Sixième résolutioni>
L'associé unique modifie l'article 7 des statuts concernant la surveillance de la société, et qui se lira comme suit:
« Art. 7. Les opérations de la société sont contrôlées par un réviseur d'entreprises agréé nommé chaque année par
le conseil d'administration.»
Plus rien n'étant à l'ordre du jour, la séance est levée à 10.25 heures.
<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 mille cinq cent douze euros (1.512,- EUR).
DONT ACTE, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture faite et interprétation donnée aux comparants, ceux-ci ont signé avec le notaire le présent acte.
Signé: G. NUCERA, V. PIERRU, L. VALENTINI, P. DECKER.
Enregistré à Luxembourg A.C., le 3 octobre 2012. Relation: LAC/2012/45980. Reçu 75,- € (soixante-quinze Euros).
<i>Le Receveuri> (signé): Irène THILL.
Pour copie conforme délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 22 octobre 2012.
Référence de publication: 2012137213/99.
(120181289) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
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aPRIVA S.à r.l., Société à responsabilité limitée.
Siège social: L-1720 Luxembourg, 2, rue Heinrich Heine.
R.C.S. Luxembourg B 165.644.
Im Jahre zweitausendzwölf, am zehnten Oktober
Vor dem unterzeichneten Notar Henri Hellinckx, mit dem Amtssitz in Luxemburg, Großherzogtum Luxemburg,
fand die Außerordentliche Generalversammlung der Gesellschafter (die „Generalversammlung") der aPRIVA S.à r.l.,
einer Gesellschaft mit beschränkter Haftung (Société à responsabilité limité) gegründet und bestehend nach den Gesetzen
des Großherzogtums Luxemburg gemäß Urkunde aufgenommen durch Notar Henri Hellinckx, vorbenannt, am 15. De-
zember 2011, veröffentlicht im Mémorial C, Nummer 319 vom 07.02.2012, mit Gesellschaftssitz in 2, rue Heinrich Heine,
L-1720 Luxemburg, und eingetragen im Handels- und Gesellschaftsregister von Luxemburg unter Nummer B 165.644
statt.
Als Vorsitzender der Generalversammlung amtiert Herr Rüdiger Sailer, Privatangestellter, beruflich ansässig in 21,
Avenue de la Liberté, L-1931 Luxemburg,
welcher Frau Miriam Schwarz, Privatangestellte, beruflich ansässig in 21, Avenue de la Liberté, L-1931 Luxemburg, zur
Protokollführerin bestellt.
Die Generalversammlung bestellt Frau Jessica Schmitz, Privatangestellte, beruflich ansässig in 21, Avenue de la Liberté,
L-1931 Luxemburg, zur Stimmenzählerin.
Der Vorsitzende stellt gemeinsam mit den Versammlungsteilnehmern folgendes fest:
I. Gegenwärtigem Protokoll ist ein Anteilsverzeichnis der Gesellschafter beigefügt. Dieses Verzeichnis wurde von den
Gesellschaftern bzw. deren Vertretern, sowie von dem Vorsitzenden, der Sekretärin, dem Stimmenzähler und dem un-
terzeichneten Notar unterschrieben.
Die von den Gesellschaftern ausgestellten Vollmachten werden ebenfalls gegenwärtiger Urkunde „ne varietur" para-
phiert beigefügt, um mit derselben einregistriert zu werden.
II. Sämtliche zwölftausend fünfhundert (12.500) Anteile, welche das gesamte Gesellschaftskapital darstellen sind in
gegenwärtiger Generalversammlung vertreten. Die so anwesenden Gesellschafter erklären sich ordnungsgemäß zu der
gegenwärtigen Versammlung eingeladen und verzichten auf die Einhaltung weiterer Förmlichkeiten. Somit ist gegenwärtige
Versammlung rechtsgültig zusammengetreten.
III. Die Tagesordnung der Generalversammlung ist folgende:
1. Änderung von Artikel 10, letzter Absatz der Gesellschaftssatzung wie folgt:
Bisheriger Artikel 10, letzter Absatz in der englischen Fassung:
Art. 10. The Company will be bound in all circumstances by the signature of the sole manager or, if there is more than
one manager, by the individual signature of any manager and by the signature of any duly authorised signatory within the
limits of such authorisation.
Neuer Artikel 10, letzter Absatz in der englischen Fassung:
Art. 10. The Company will be bound in all circumstances by the signature of the sole manager or, if there is more than
one manager, by the collective signature of any two managers and by the signature of any duly authorised signatory within
the limits of such authorisation.
Bisheriger Artikel 10, letzter Absatz in der deutschen Fassung:
Art. 10. Die Gesellschaft wird jederzeit durch die Unterschrift des alleinigen Geschäftsführers oder bei mehreren
Geschäftsführern durch die Einzelunterschrift jedes Geschäftsführers und durch die Unterschrift eines jeden ordnungs-
gemäß Bevollmächtigten im Rahmen dieser Bevollmächtigung verpflichtet.
Neuer Artikel 10, letzter Absatz in der deutschen Fassung:
Art. 10. Die Gesellschaft wird jederzeit durch die Unterschrift des alleinigen Geschäftsführers oder bei mehreren
Geschäftsführern durch die gemeinschaftliche Unterschrift zweier beliebiger Geschäftsführer und durch die Unterschrift
eines jeden ordnungsgemäß Bevollmächtigten im Rahmen dieser Bevollmächtigung verpflichtet.
Nach Beratung fasst die Generalversammlung folgenden Beschluss:
<i>Beschlussi>
Die Generalversammlung beschließt, Artikel 10, letzter Absatz der Gesellschaftssatzung abzuändern, um ihm folgenden
Wortlaut zu geben:
Neuer Artikel 10, letzter Absatz in der englischen Fassung:
" Art. 10. The Company will be bound in all circumstances by the signature of the sole manager or, if there is more
than one manager, by the collective signature of any two managers and by the signature of any duly authorised signatory
within the limits of such authorisation."
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Neuer Artikel 10, letzter Absatz in der deutschen Fassung:
„ Art. 10. Die Gesellschaft wird jederzeit durch die Unterschrift des alleinigen Geschäftsführers oder bei mehreren
Geschäftsführern durch die gemeinschaftliche Unterschrift zweier beliebiger Geschäftsführer und durch die
Unterschrift eines jeden ordnungsgemäß Bevollmächtigten im Rahmen dieser Bevollmächtigung verpflichtet."
Die übrigen Artikel der Gesellschaftssatzung bleiben unberührt.
Da hiermit die Tagesordnung erschöpft ist, erklärt der Vorsitzende die Generalversammlung für geschlossen.
WORÜBER URKUNDE, geschehen und aufgenommen zu Luxemburg, am Datum wie eingangs erwähnt.
Nach Vorlesung und Erklärung des Vorgeschehenen an die Komparenten, welche dem unterzeichneten Notar durch
Familiennamen, Vornamen, Zivilstatus und Wohnort bekannt sind, haben die Mitglieder des Versammlungsrates gegen-
wärtige Urkunde mit dem Notar unterschrieben.
Gezeichnet: R. SAILER, M. SCHWARZ, J. SCHMITZ und H. HELLINCKX.
Enregistré à Luxembourg A.C., le 16 octobre 2012. Relation: LAC/2012/48495. Reçu soixante-quinze euros (75.- EUR).
<i>Le Receveuri>
(signé): I. THILL.
- FÜR GLEICHLAUTENDE AUSFERTIGUNG - Der Gesellschaft auf Begehr erteilt.
Luxemburg, den 22. Oktober 2012.
Référence de publication: 2012136947/72.
(120181263) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
VAM Managed Funds (Lux), Société d'Investissement à Capital Variable.
Siège social: L-1930 Luxembourg, 26, avenue de la Liberté.
R.C.S. Luxembourg B 129.579.
<i>Extract of the minutes of the annual general meeting of the Shareholders of the Company held at the registered office of thei>
<i>Company in Luxembourg on 17 October 2012:i>
The meeting decided to reappoint the Board of Directors and the Approved Statutory Auditor for a new period of
one year.
<i>The Directors are:i>
- Mr Peter John de Putron, Chairman of the Board of Directors, with professional address at 26, Avenue de la Liberté,
L-1930 Luxembourg
- Mr Michael Hunt, with professional address at 26, Avenue de la Liberté, L-1930 Luxembourg.
- Mr Benoni Dufour, with professional address at 26, Avenue de la Liberté, L-1930 Luxembourg
- Mr Yves de Vos, with professional address at 26, Avenue de la Liberté, L-1930 Luxembourg
- Mr Romain Moebus, with professional address at 26, Avenue de la Liberté, L-1930 Luxembourg
- Mr Enrico Mela, with professional address at 26, Avenue de la Liberté, L-1930 Luxembourg
<i>The Approved Statutory Auditor is:i>
- Ernst & Young S.A., 7 rue Gabriel Lippmann, Parc d'Activité Syrdall 2, L-5365 Munsbach.
The mandates of the Directors and of the Approved Statutory Auditor shall expire immediately after the next annual
general meeting of the shareholders.
Certified true extract
Romain Moebus / Enrico Mela
<i>Directorsi>
French translation - Traduction en français
<i>Extrait du procès-verbal de l'assemblée générale annuelle des Actionnaires de la Société qui s'est tenue en date du 17 octobrei>
<i>2012 au siège de la Société à Luxembourg.i>
L'assemblée décide de réélire les administrateurs et le réviseur d'entreprises agréé en fonction pour une nouvelle
période d'un an.
<i>Les administrateurs sont:i>
- M. Peter John de Putron, Président du conseil d'administration, avec adresse professionnelle à 26, Avenue de la
Liberté, L-1930 Luxembourg
- M. Michael Hunt, avec adresse professionnelle à 26, Avenue de la Liberté, L-1930 Luxembourg.
- M. Benoni Dufour, avec adresse professionnelle à 26, Avenue de la Liberté, L-1930 Luxembourg
- M. Yves de Vos, avec adresse professionnelle à 26, Avenue de la Liberté, L-1930 Luxembourg
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- M. Romain Moebus, avec adresse professionnelle à 26, Avenue de la Liberté, L-1930 Luxembourg
- M. Enrico Mela, avec adresse professionnelle à 26, Avenue de la Liberté, L-1930 Luxembourg
<i>Le réviseur d'entreprises agréé est:i>
- Ernst & Young S.A., 7 rue Gabriel Lippmann, Parc d'Activité Syrdall 2, L-5365 Munsbach.
Les mandats des administrateurs et du réviseur d'entreprises agréé prendront fin immédiatement à l'issue de la pro-
chaine assemblée générale annuelle des Actionnaires.
Extrait certifié conforme
Romain Moebus / Enrico Mela
<i>Administrateursi>
Référence de publication: 2012137567/46.
(120181653) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Intelec Investments S.A., Société Anonyme.
Siège social: L-4963 Clemency, 9, rue Basse.
R.C.S. Luxembourg B 132.115.
DISSOLUTION
L'an deux mille douze, le vingt septembre.
Par devant Maître Paul DECKER, notaire de résidence à Luxembourg.
A comparu:
Mademoiselle Virginie PIERRU, clerc de notaire, demeurant professionnellement à L-2740 Luxembourg,
agissant en tant que mandataire de Monsieur Rabit Jalal EL AMRAOUI, pilote de ligne, né le 8 janvier 1978 à Paris
(France), demeurant à Hay Old Lahcen, M 106 Nador (Maroc), en vertu d’une procuration donnée sous seing privé en
date du 24 mai 2012,
Laquelle procuration, après avoir été paraphée “ne varietur” par la mandataire de la comparante et le notaire instru-
mentant restera annexée aux présentes pour les besoins de l’enregistrement.
Lequel comparant, représenté comme ci-avant, a exposé et requis le notaire instrumentant d'acter ce qui suit:
La société anonyme “Intelec Investments S.A.”, ayant son siège social au 9, rue Basse L-4963 Clémency, inscrite au
Registre de Commerce et des Sociétés à Luxembourg sous la section B, numéro 132115, ("la Société"), a été constituée
suivant acte reçu par le notaire Maître Alex WEBER, notaire de résidence à Bascharage, Grand-Duché de Luxembourg,
en date du 18 septembre 2007, publié au Mémorial C, Recueil des Sociétés et Associations Numéro 2460 le 30 octobre
2007.
Le capital social de la Société est de trente et un mille euros (31.000,-EUR) représenté par trois cent dix (310) actions
d'une valeur nominale de cent euros (100,-EUR) chacune.
L’Actionnaire Unique, représenté comme ci-avant, est propriétaire de la totalité des trois cent dix (310) actions de la
Société.
L’Actionnaire Unique déclare avoir parfaite connaissance des statuts et de la situation financière de la Société.
L’Actionnaire Unique, en sa qualité de liquidateur de la Société, déclare que l'activité de la Société a cessé, que le passif
connu de ladite Société a été payé ou provisionné, qu'en sa qualité d’Actionnaire Unique représentant l’intégralité du
capital social elle se trouve investie de tout l'actif et s'engage expressément à prendre à sa charge tout passif pouvant
éventuellement exister à charge de la Société et impayé ou inconnu à ce jour avant tout payement à sa personne; partant
la liquidation de la Société est à considérer comme faite et clôturée.
Décharge pleine et entière est accordée par l’Actionnaire Unique aux administrateurs et au commissaire aux comptes
de la Société.
L’Actionnaire Unique s’engage à procéder à l'annulation des actions de la Société.
Les livres et documents de la Société seront conservés pendant cinq ans au siège social de la société.
Toutefois aucune confusion de patrimoine entre la société dissoute et l’avoir social de l’actionnaire unique ou rem-
boursement aux actionnaires ne pourra se faire avant le délai de trente jours (article 69 (2) de la loi sur les sociétés
commerciales) à compter de la publication et sous réserve qu’aucun créancier de la Société présentement dissoute et
liquidée n’aura exigé la constitution de sûretés.
<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 huit cents euros (800,-EUR).
DONT ACTE, fait et passé à Luxembourg, date qu'en tête des présentes.
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Et après lecture faite et interprétation donnée au mandataire du comparant connu du notaire par son nom, prénoms
usuels, état et demeure, celle-ci a signé avec le notaire le présent acte.
Signé: V. PIERRU, P. DECKER.
Enregistré à Luxembourg A.C., le 26 septembre 2012. Relation: LAC/2012/44588. Reçu 75.-€ (soixante-quinze Euros).
<i>Le Receveuri> (signée): Irène THILL.
POUR COPIE CONFORME, délivrée au Registre de Commerce et des Sociétés à Luxembourg
Luxembourg, le 22 OCTOBRE 2012.
Référence de publication: 2012137286/52.
(120181321) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Lion/Gem Luxembourg 3 S.à r.l., Société à responsabilité limitée.
Capital social: EUR 1.054.294,00.
Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.
R.C.S. Luxembourg B 140.337.
<i>Extrait du contrat de cession de parts de la Société daté du 1 i>
<i>eri>
<i> octobre 2012i>
En vertu de l'acte de transfert de parts, daté du 1
er
octobre 2012, Marlin Option 2 Limited a transféré l'entièreté de
ses parts détenues dans la Société à la société Marlin 1 Luxembourg S.à r.l., une société à responsabilité limitée, inscrite
au registre de commerce et des sociétés de Luxembourg sous le numéro B171210 ayant son siège social au 26-28, rives
de Clausen, L-2165 Luxembourg.
La société Marlin 1 Luxembourg S.à r.l. détiendra donc les parts suivantes:
- 1.041.149 parts rachetables A
- 1.935 parts préférentielles rachetables A1
- 1.876 parts préférentielles rachetables A2
- 1.384 parts préférentielles rachetables A3
- 2.710 parts préférentielles rachetables A4
- 491 parts préférentielles rachetables A5
- 394 parts préférentielles rachetables A6
- 606 parts préférentielles rachetables A7
- 1.206 parts préférentielles rachetables A8
- 322 parts préférentielles rachetables A9
- 430 parts préférentielles rachetables A10
- 185 parts préférentielles rachetables A11
- 147 parts préférentielles rachetables A12
- 99 parts préférentielles rachetables A13
- 94 parts préférentielles rachetables A14
- 152 parts préférentielles rachetables A15
- 160 parts préférentielles rachetables A16
- 151 parts préférentielles rachetables A17
- 94 parts préférentielles rachetables A18
- 473 parts préférentielles rachetables A19
- 237 parts préférentielles rachetables A20
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 22 octobre 2012.
Stijn Curfs
<i>Mandatairei>
Référence de publication: 2012138054/39.
(120181908) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
LIS S.à r.l., Société à responsabilité limitée.
Siège social: L-2346 Luxembourg, 4, rue de la Poste.
R.C.S. Luxembourg B 158.209.
Les comptes annuels au 31.12.2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
133520
L
U X E M B O U R G
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012137328/9.
(120181109) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Threadneedle Asset Management Holdings Sàrl, Société à responsabilité limitée.
Capital social: GBP 916.142,84.
Siège social: L-1273 Luxembourg, 19, rue de Bitbourg.
R.C.S. Luxembourg B 143.975.
<i>Extrait des résolutions prises par lors de l'assemblée générale de la Société tenue en date du 25 septembre 2012i>
En date du 25 septembre 2012, l'assemblée générale de la Société a pris la résolution suivante:
- de nommer Monsieur Mark BURGESS, né le 29 septembre 1964 à Londres, Royaume-Uni, ayant comme adresse
professionnelle: 10, Melville Road, Barnes, SW13 9RT, Royaume-Uni, en tant que nouveau membre du conseil de gérance
de la Société avec effet immédiat et ce pour une durée déterminée jusqu'à l'assemblée générale de la Société qui se tiendra
en l'année 2013.
Le conseil de gérance de la Société est désormais composé comme suit:
- Monsieur Claude KREMER
- Madame Marie-Jeanne CHEVREMONT
- Monsieur James M. CRACCHIOLO
- Monsieur Walter S. BERMAN
- Monsieur John C. JUNEK
- Monsieur William F. TRUSCOTT
- Monsieur Crispin John HENDERSON
- Monsieur Herschel E. POST
- Monsieur Mark BURGESS
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 22 octobre 2012.
Threadneedle Asset Management Holdings S.à r.l.
Signature
Référence de publication: 2012137535/28.
(120181520) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Moesdorf S.à.r.l., Société à responsabilité limitée.
Siège social: L-1471 Luxembourg, 257, route d'Esch.
R.C.S. Luxembourg B 131.476.
Le bilan au 31.12.2011 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 19 octobre 2012.
Pour ordre
EUROPE FIDUCIAIRE (Luxembourg) S.A.
Boîte Postale 1307
L – 1013 Luxembourg
Référence de publication: 2012137374/14.
(120181336) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Lousseau Holding S.A., Société Anonyme.
Siège social: L-1637 Luxembourg, 1, rue Goethe.
R.C.S. Luxembourg B 20.987.
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.
Référence de publication: 2012137330/9.
(120181193) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133521
L
U X E M B O U R G
Lucide Europe S.A., Société Anonyme.
Siège social: L-2714 Luxembourg, 6-12, rue du Fort Wallis.
R.C.S. Luxembourg B 93.809.
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.
Référence de publication: 2012137334/9.
(120180928) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Lucilinburhuc (LBH) S.A., Société Anonyme.
Siège social: L-1637 Luxembourg, 1, rue Goethe.
R.C.S. Luxembourg B 51.242.
Les comptes annuels au 31 décembre 2009 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: 2012137335/10.
(120180950) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
PO Participations S.A., Société Anonyme.
Siège social: L-1637 Luxembourg, 3, rue Goethe.
R.C.S. Luxembourg B 131.555.
<i>Extrait des résolutions prises par les associés en date du 15 octobre 2012i>
<i>Première résolutioni>
L'actionnaire unique accepte la démission de Madame Marie-Laure BECQUART de son poste d'administrateur de
classe A de la société avec effet au 19 octobre 2012.
<i>Deuxième résolutioni>
L'actionnaire unique accepte la démission de Monsieur Alain LANGUILLAT de son poste d'administrateur de classe
A de la société avec effet au 19 octobre 2012.
<i>Troisième résolutioni>
L'associé unique nomme avec date d'effet au 19 octobre 2012 Monsieur Olivier BARON, directeur participations, né
le 21 avril, 1978 à Paris en France, résidant professionnellement au 23 bis avenue de Messine F-75008 Paris, France, au
poste de d'administrateur de classe A de la société jusqu'à l'assemblée générale statutaire qui se tiendra en 2017.
<i>Quatrième résolutioni>
L'associé unique nomme avec date d'effet au 19 octobre 2012 Monsieur François PINEL DE GOLLEVILLE, directeur
de participations, né le 19 janvier 1980 à Rouen (France), résidant professionnellement au 23bis, avenue de Messine
F-75008 Paris au poste d'administrateur de classe A de la société jusqu'à l'assemblée générale statutaire qui se tiendra en
2017.
Pour extrait
<i>Pour la société
i>Signature
Référence de publication: 2012137643/26.
(120181436) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Lucilinburhuc (LBH) S.A., Société Anonyme.
Siège social: L-1637 Luxembourg, 1, rue Goethe.
R.C.S. Luxembourg B 51.242.
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: 2012137336/10.
(120180951) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133522
L
U X E M B O U R G
Victor Hugo 2 S.à r.l., Société à responsabilité limitée.
Capital social: EUR 12.500,00.
Siège social: L-1249 Luxembourg, 2, rue du Fort Bourbon.
R.C.S. Luxembourg B 133.196.
EXTRAIT
1. Il résulte des résolutions des actionnaires de la Société en date du 17 Septembre 2012, que:
- Aviva Investors Properties Europe S.A., ayant son adresse professionnelle au 2, rue du Fort Bourbon, L-1249 Lu-
xembourg, Grand-Duché de Luxembourg, a demissioné de son mandat de gérant A de la Société avec effet au 17
Septembre 2012.
- M. William Gilson, ayant son adresse professionnelle au 2, rue du Fort Bourbon, L-1249 Luxembourg, Grand-Duché
de Luxembourg, a été nommé en tant que gérant de la Société avec effet au 17 Septembre 2012.
- M. Mark Phillips, ayant son adresse professionnelle au 2, rue du Fort Bourbon, L-1249 Luxembourg, Grand-Duché
de Luxembourg, a été nommé en tant que gérant de la Société avec effet au 17 Septembre 2012.
Le Conseil de Gérance se compose désormais comme suit:
- M. Eudes Berthelot, Gérant A
- M. Christopher Holloway, Gérant B
- M. Graham Spensley, Gérant B
- M. William Gilson, Gérant A
- M. Mark Phillips, Gérant A
2. Suite à la cession de parts intervenue en date du 31 Octobre 2010 entre Saltire Investments SAS et Etive Investments
S.A., 1.437 parts sociales B de la Société sont transférées comme suit:
1. Saltire Investments SAS, une société par actions simplifiées de droit français, ayant son siège social sis 146, Avenue
des Champs Elysées, 75008 Paris, France et immatriculée auprès de Greffe du Tribunal de commerce de Paris sous le
numéro B 412 533 390, cède 1437 parts sociales B ayant chacune une valeur nominale de un euro (1 €) qu'elle détient
dans la Société avec effet au 31 Octobre 2010 et ne détient désormais aucune part sociale de la Société;
2. Etive Investments S.A., une société anonyme de droit luxembourgeois, ayant son siège social sis 16, Boulevard
Emmanuel Servais, L-2535 Luxembourg, Grand-Duché de Luxembourg, acquiert 1437 parts sociales B de la Société ayant
chacune une valeur nominale de un euro (1 €) avec effet au 31 Octobre 2010 et détient désormais 1437 parts sociales
B de la Société.
3. Suite à la cession de parts intervenue en date du 31 Octobre 2010 entre Eluceo Investments S.à r.l. et Mr. Guy
Charles Armandi Maitland Smith, 407 parts sociales B de la Société sont transférées comme suit:
1. Eluceo Investments S.à r.l., une société à responsabilité limitée de droit français, ayant son siège social sis 3, rue
Léon Jost, 75017 Paris, France et immatriculée auprès de Greffe du Tribunal de commerce de Paris sous le numéro B
441 999 448, cède 407 parts sociales B ayant chacune une valeur nominale de un euro (1 €) qu'elle détient dans la Société
avec effet au 31 Octobre 2010 et ne détient désormais aucune part sociale de la Société;
2. Mr. Guy Charles Armandi Smith, né en Italie le 5 Janvier 1971, ayant son adresse professionnelle à Eden Star, 32
Quai Jean-Charles Rey, 98000 Monaco, Principauté de Monaco, acquiert 407 parts sociales B de la Société ayant chacune
une valeur nominale de un euro (1 €) avec effet au 31 Octobre 2010 et détient désormais 407 parts sociales B de la
Société.
Les actionnaires sont désormais listés comme suit:
- Victo Hugo 1 S.à r.l. (6.250 parts sociales A)
- Bizy Investments Limited (437 parts sociales B)
- Etive Investments S.A. (1.437 parts sociales B)
- M. Guy Charles Armandi Smith (407 parts sociales B)
- Cubic (781 parts sociales B)
- Pieride S.à r.l.(1.250 parts sociales B)
- M. Christopher Holloway (1.938 parts sociales B)
Pour extrait conforme.
Luxembourg, le 22 octobre 2012.
Référence de publication: 2012137564/53.
(120181150) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133523
L
U X E M B O U R G
Lux Lettering S.àr.l., Société à responsabilité limitée.
Siège social: L-6450 Echternach, 21, route de Luxembourg.
R.C.S. Luxembourg B 90.530.
Der Jahresabschluss vom 31.12.2011 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinterlegt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012137338/9.
(120180966) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Lux Moebel TEC Sàrl, Société à responsabilité limitée.
Siège social: L-5690 Ellange-Gare, 1, route de Remich.
R.C.S. Luxembourg B 150.975.
Les comptes annuels au 31.12.2011 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.
Esch-sur-Alzette, le 17/10/2012.
Signature.
Référence de publication: 2012137339/10.
(120181351) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Woodimmo S.A., Société Anonyme.
Siège social: L-1628 Luxembourg, 7A, rue des Glacis.
R.C.S. Luxembourg B 94.198.
<i>Extrait du procès-verbal de la réunion l'Assemblée Générale du 25 juin 2012i>
L'assemblée Générale, constatant que l'ensemble des mandats des administrateurs et du Commissaire aux Comptes
viennent à expiration ce jour, renouvelle, pour une durée de six aimées qui prendra fin lors de l'Assemblée Générale
tenue dans l'année 2018,
- Madame Marjorie GOLINVAUX, juriste, né le 24 août 1969 à Messancy (Belgique) demeurant professionnellement
à L-1628 Luxembourg, 7A rue de Glacis
- Madame Anne-Françoise FOUSS, employée, né le 13 novembre 1969 à Rocourt (Belgique) demeurant profession-
nellement à L-1628 Luxembourg, 7A rue de Glacis
- Monsieur Patrick WEINACHT, juriste, né le 19 décembre 1953 à Neuilly-sur-Seine (France) demeurant profession-
nellement à L-1628 Luxembourg, 7A rue de Glacis
en tant qu'administrateurs.
Par ailleurs, elle nomme en remplacement de la société BS CONSULTING S.A., commissaire aux comptes, la société
SOCOGESCO INTERNATIONAL S.A. (immatriculée au R.C.S. de Luxembourg sous le numéro B 44.906) ayant son siège
social 84, Grand-Rue L-1660 Luxembourg pour une durée de six années qui prendre fin lors de l'Assemblée Générale
tenue dans l'année 2018.
<i>Pour la société
i>Signature
<i>Un mandatairei>
Référence de publication: 2012137586/25.
(120181361) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Luxair Finance S.à r.l., Société à responsabilité limitée.
Siège social: L-2987 Luxembourg, Aéroport de Luxembourg.
R.C.S. Luxembourg B 14.764.
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.
Référence de publication: 2012137340/9.
(120181674) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133524
L
U X E M B O U R G
Luxindus s.à.r.l., Société à responsabilité limitée.
Siège social: L-9639 Boulaide, 9, rue Jérôme de Busleyden.
R.C.S. Luxembourg B 95.604.
Der Jahresabschluss zum 31. Dezember 2011 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinter-
legt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012137342/10.
(120180771) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Luxinvest S.A., Société Anonyme.
Siège social: L-2633 Senningerberg, 6D, route de Trèves.
R.C.S. Luxembourg B 6.537.
Le bilan au 31 décembre 2011 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2012137343/9.
(120181588) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Luxory S.A., Société Anonyme.
Siège social: L-1532 Luxembourg, 24, rue de la Fontaine.
R.C.S. Luxembourg B 157.053.
EXTRAIT
Il résulte du procès-verbal de l'assemblée Générale extraordinaire de la Société LUXORY S.A., qui s'est tenue en date
du 25 mai 2012 que:
Catherine Francq, née le 1
er
janvier 1980 à Uccle (Belgique), demeurant professionnellement à 3, rue de la Loge
L-1945 à Luxembourg est nommé comme nouveau administrateur avec effet immédiat, jusqu'à l'assemblée Général or-
dinaire en 2017.
Luxembourg, le 22 octobre 2012.
Pour extrait conforme
Pour mandat
Signature
Référence de publication: 2012137344/17.
(120181517) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Ultima International S.à r.l., Société à responsabilité limitée.
Siège social: L-2530 Luxembourg, 6, rue Henri M. Schnadt.
R.C.S. Luxembourg B 118.590.
<i>Résolution 1.i>
<i>Cession de 1 part socialei>
Il résulte d'une cession de parts datée du 22 mai 2012 que Seline Management cède 1 part sociale de la société Ultima
International Sàrl à Stichting Administratiekantoor DUAD.
Suite à cette cession, Stichting Administratiekantoor DUAD détient 1 % des parts sociales (1 part sociale) de la société
Ultima International Sàrl.
<i>Résolution 2.i>
<i>Changement d'adresse siège sociali>
Le siège social et les bureaux sont déplacés vers la nouvelle adresse 6, Rue Henri M. Schnadt, L-2530 Luxembourg,
Luxembourg à partir du 1
er
septembre 2012.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, 12 Octobre 2012.
Référence de publication: 2012137555/19.
(120180820) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133525
L
U X E M B O U R G
Lyrane Invest S.A., Société Anonyme.
Siège social: L-1471 Luxembourg, 412F, route d'Esch.
R.C.S. Luxembourg B 98.636.
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.
LYRANE INVEST S.A.
Signatures
<i>Administrateur / Administrateuri>
Référence de publication: 2012137345/12.
(120181402) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Cargolux Airlines International S.A., Société Anonyme.
Siège social: L-2990 Sandweiler, Aéroport de Luxembourg.
R.C.S. Luxembourg B 8.916.
<i>Extrait du procès-verbal de la réunion du Conseil d'Administration du 11 octobre 2012.i>
Il résulte du procès-verbal du 11 octobre 2012 que le Conseil d'Administration procède à la cooptation de la Société
Nationale de Crédit et d'Investissement (SNCI), 7, rue du Saint-Esprit, L-1475 Luxembourg, avec le numéro d'immatri-
culation J1 au Registre de Commerce et des Sociétés du Luxembourg, comme membre du Conseil d'Administration de
Cargolux Airlines International S.A. Monsieur Gaston REINESCH agit comme représentant permanent de la SNCI jusqu'à
l'assemblée qui se tiendra en 2013. L'adresse professionnelle de M. Reinesch est fixée à 7, rue du Saint-Esprit, L-1475
Luxembourg.
Par conséquent, le Conseil d'Administration se compose à compter du 11 octobre 2012 comme suit:
1) Monsieur Albert Wildgen, Président du Conseil d'Administration, demeurant 67, boulevard de la Pétrusse, L-2320
Luxembourg;
2) Monsieur Paul Helminger, demeurant à 55, rue Michel Rodange; L-2430 Luxembourg;
3) Monsieur Jean-Claude Finck, l'adresse professionnelle de M. Finck est fixée à Banque et Caisse d'Epargne de l'Etat,
1, Place de Metz, L-2954 Luxembourg;
4) Monsieur Tom Weisgerber, l'adresse professionnelle de M. Weisgerber est fixée à Ministère du Développement
Durable et des Infrastructures, 4, Place de l'Europe, L-1499 Luxembourg;
5) Monsieur Hussain Al-Abdulla, demeurant House #1, Al Ataa Street, Al Wakra, Doha, Qatar;
6) Monsieur Akbar Al-Baker, demeurant No. 1 Qartaja Street, D-Ring Road, Doha, Qatar;
7) Monsieur Richard Agutter, demeurant Leabridge Farmhouse, West Burton, Pulborough, West Sussex RH20 1HD,
UK;
8) Monsieur Adrien Ney, l'adresse professionnelle de M. Ney est fixée à Luxair S.A., Aéroport de Luxembourg, L-2987
Luxembourg;
9) Madame Françoise Thoma, l'adresse professionnelle de Mme Thoma est fixée à Banque et Caisse d'Epargne de l'Etat,
1, Place de Metz, L-2954 Luxembourg;
10) La Société Nationale de Crédit et d'Investissement, établissement public, avec siège social à Luxembourg, 7, rue
du St. Esprit, L-1475 Luxembourg. Monsieur Gaston Reinesch, avec l'adresse professionnelle, 7, rue du Saint-Esprit, L-1475
Luxembourg, agit comme représentant permanent de la SNCI.
11) Madame Bettina Faulhaber, demeurant Im Gerstengrund 22, D-54329 Konz;
12) Monsieur George Karambilas, demeurant à 161, bld Charles Simonis, L-2539 Luxembourg;
13) Monsieur Einar Kristjansson, demeurant 8 Um Gehaansraich, L-6187 Gonderange;
14) Monsieur David Massaro, demeurant à 12, rue Am Pesch, L-8067 Bertrange;
15) Monsieur Armand Seil, demeurant 5 Grimburgerhof, D-54413 Grimburg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 18 octobre 2012.
Sandro LOW
<i>Un mandatairei>
Référence de publication: 2012137624/42.
(120181412) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
133526
L
U X E M B O U R G
Mixt S.A., Société Anonyme.
Siège social: L-8399 Windhof (Koerich), 11, rue de l'Industrie, Bâtiment Solarwind.
R.C.S. Luxembourg B 88.729.
<i>Extrait des résolutions prises lors de la réunion du conseil d'administration tenue au siège de la société le 23 juillet 2012i>
Le Conseil d'Administration décide de transférer le siège social de la Société du 2, rue d'Arlon à L-8399 Windhof au
11, rue de l'Industrie, Bâtiment Solarwind à L-8399 Windhof (commune KOERICH).
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Pour extrait sincère et conforme
MIXT S.A.
Signature
<i>Un mandatairei>
Référence de publication: 2012137372/15.
(120181352) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Moselle Properties S.à r.l., Société à responsabilité limitée.
Siège social: L-1746 Luxembourg, 2, rue Joseph Hackin.
R.C.S. Luxembourg B 129.734.
Les comptes annuels au 28 Février 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.
Luxembourg, le 18 Octobre 2012.
TMF Luxembourg S.A.
Signatures
Référence de publication: 2012137351/12.
(120181466) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Maclean SPF S.A., Société Anonyme - Société de Gestion de Patrimoine Familial.
Siège social: L-7257 Walferdange, 2, Millewee.
R.C.S. Luxembourg B 79.273.
L'an deux mille douze, le vingt et un septembre.
Par devant Maître Alex WEBER, notaire de résidence à Bascharage.
S'est réunie l'assemblée générale extraordinaire des actionnaires de la société anonyme "Maclean SPF S.A." (numéro
d'identité 2010 22 45 157), avec siège social à L-1130 Luxembourg, 37, rue d'Anvers, inscrite au R.C.S.L. sous le numéro
B 79.273, constituée sous la dénomination de «MACLEAN S.A.» suivant acte reçu par le notaire Joseph ELVINGER, de
résidence à Luxembourg, en date du 1
er
décembre 2000, publié au Mémorial C, numéro 465 du 20 juin 2001 et dont les
statuts ont été modifiés suivant acte reçu par le notaire Gérard LECUIT, de résidence à Luxembourg, en date du 23
décembre 2010, publié au Mémorial C, numéro 749 du 18 avril 2011, ledit acte contenant notamment adoption par la
société du statut de société de gestion de patrimoine familial et changement de la dénomination sociale en «Maclean SPF
S.A.».
L'assemblée est ouverte sous la présidence de Monsieur Jean-Marie WEBER, employé privé, demeurant à Aix-sur-
Cloie/Aubange (Belgique),
qui désigne comme secrétaire Monsieur Luc DEMEYER, employé privé, demeurant à Bascharage.
L'assemblée choisit comme scrutateur Monsieur Léon RENTMEISTER, employé privé, demeurant à Dahl.
Le bureau ayant été ainsi constitué, le Président déclare et prie le notaire instrumentant d'acter ce qui suit:
I.- L'ordre du jour de l'assemblée est le suivant:
Transfert du siège social à L-7257 Walferdange, 2, Millewee et modification subséquente du 1
er
alinéa de l'article 2
des statuts.
II.- Les actionnaires présents ou représentés, les procurations des actionnaires représentés et le nombre d'actions
qu'ils détiennent sont renseignés sur une liste de présence; cette liste de présence signée par les actionnaires, les man-
dataires des actionnaires représentés, le bureau et le notaire instrumentant, restera annexée au présent acte.
Les procurations des actionnaires représentés y resteront annexées de même.
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III.- L'intégralité du capital social étant présente ou représentée à la présente assemblée et tous les actionnaires présents
ou représentés déclarant avoir eu parfaite connaissance de l'ordre du jour avant l'assemblée, il a donc pu être fait abs-
traction des convocations d'usage.
IV.- La présente assemblée, représentant l'intégralité du capital social, est régulièrement constituée et peut valablement
délibérer sur l'ordre du jour.
Ensuite l'assemblée, après délibération, a pris à l'unanimité la résolution suivante:
<i>Résolutioni>
L'assemblée décide de transférer le siège social à L-7257 Walferdange, 2, Millewee et en conséquence de modifier le
1
er
alinéa de l'article 2 des statuts pour lui donner la teneur suivante:
«Le siège de la société est établi dans la commune de Walferdange.»
<i>Fraisi>
Le montant des frais, rémunérations ou charges, sous quelque forme que ce soit, qui incombent à la société en raison
des présentes, est évalué sans nul préjudice à six cent cinquante euros (€ 650.-).
Plus rien n'étant à l'ordre du jour, la séance est levée.
DONT ACTE, fait et passé à Bascharage en l'étude, date qu'en tête des présentes.
Et après lecture faite à l'assemblée, les membres du bureau, tous connus du notaire par leurs noms, prénoms usuels,
états et demeures, ont signé avec Nous notaire le présent acte, aucun autre actionnaire n'ayant demandé à signer.
Signé: J.M. WEBER, DEMEYER, RENTMEISTER, A. WEBER.
Enregistré à Capellen, le 01 octobre 2012. Relation: CAP/2012/3697. Reçu-soixante-quinze euros (75,00 €).
<i>Le Receveur ff.i> (signé): ENTRINGER.
Pour expédition conforme, délivrée à la société à sa demande, aux fins de dépôt au Registre de Commerce et des
Sociétés.
Bascharage, le 18 octobre 2012.
Alex WEBER.
Référence de publication: 2012137346/52.
(120181082) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Mainstay S.àr.l., Société à responsabilité limitée.
Siège social: L-1882 Luxembourg, 3A, rue Guillaume Kroll.
R.C.S. Luxembourg B 73.857.
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.
Luxembourg, le 19/10/2012.
Signature.
Référence de publication: 2012137353/10.
(120181408) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
TRE PIU UNO S.à r.l., Société à responsabilité limitée.
Siège social: L-1536 Luxembourg, 23, rue du Fossé.
R.C.S. Luxembourg B 156.322.
<i>Cession de parts en date du 18 janvier 2011i>
Monsieur CAROCHA REBELO DA SILVA ROLO Fernando Eduardo Demeurant à L-5943 ITZIG 2, rue de Jean-Pierre
Lanter
Déclare céder et transporter par la présence sous les garanties de Droit à
1) Monsieur BELLANIMA Oronzo
Demeurant à L-5316 CONTERN 19, rue de Syren
Neuf (9) parts sociales lui appartenant dans la Société à responsabilité limitée «Tre Piu Uno S.àR.L.»
La cession qui précède est faite moyennant le prix de 1.125,- euros.
2) Monsieur RENNA Francesco
Demeurant à L-5868 ALZINGEN 2, rue Jean Steichen
Huit (8) parts sociales lui appartenant dans la société à responsabilité limitée «Tre Piu Uno S.àR.L.»
La cession qui précède est faite moyennant le prix de 1.000,- euros.
3) Monsieur TEOFI LO Graziano
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Demeurant à L-1363 HOWALD 6, rue du Couvent
Huit (8) parts sociales lui appartenant dans la société à responsabilité limitée «Tre Piu Uno S.àR.L.»
La cession qui précède est faite moyennant le prix de 1.000,- euros.
Fait à Luxembourg, le 18 janvier 2011.
Référence de publication: 2012138338/24.
(120181947) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
Marianne 2000 S.à r.l., Société à responsabilité limitée.
Siège social: L-1140 Luxembourg, 45-47, route d'Arlon.
R.C.S. Luxembourg B 101.960.
Les comptes annuels au 31/12/2011 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.
MARIANNE 2000 S.à r.l.
Référence de publication: 2012137357/10.
(120180855) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Maryline Sàrl, Société à responsabilité limitée.
Siège social: L-3526 Dudelange, 95, rue des Minières.
R.C.S. Luxembourg B 104.695.
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.
Référence de publication: 2012137358/9.
(120180879) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
MD Mezzanine S.A., SICAR, Société Anonyme sous la forme d'une Société d'Investissement en Capital
à Risque.
Siège social: L-2420 Luxembourg, 24, avenue Emile Reuter.
R.C.S. Luxembourg B 109.277.
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 19 octobre 2012.
Référence de publication: 2012137360/11.
(120180801) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Mediobanca International Immobilière S.à r.l., Société à responsabilité limitée.
Siège social: L-1840 Luxembourg, 4, boulevard Joseph II.
R.C.S. Luxembourg B 81.141.
Le bilan au 30 Juin 2012 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 19 Octobre 2012.
Référence de publication: 2012137361/10.
(120180736) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
LS Alloys, Société Anonyme.
Siège social: L-8440 Steinfort, 71, route de Luxembourg.
R.C.S. Luxembourg B 82.463.
L'an deux mille douze, le dix septembre.
Par-devant Maître Jean Seckler, notaire de résidence à Junglinster, Grand-Duché de Luxembourg.
S'est réunie l'assemblée générale extraordinaire des actionnaires de la société anonyme LS Alloys S.A. (la «Société»),
avec siège social à L-8440 Steinfort, 71, route de Luxembourg, inscrite au Registre de Commerce et des Sociétés de
Luxembourg sous le numéro B 82.463, constituée suivant acte de Maître Gérard Lecuit, notaire de résidence à Luxem-
bourg, du 23 mai 2001, publié au Mémorial C numéro 1181 du 18 décembre 2001.
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L'assemblée est ouverte sous la présidence de Monsieur Cédric Paulus avec adresse professionnelle au 44, rue de la
Vallée, L-2661 Luxembourg, qui agira également en tant que secrétaire de l'assemblée.
L'assemblée choisit comme scrutateur Monsieur Maxime Grosjean avec adresse professionnelle au 44, rue de la Vallée,
L-2661 Luxembourg.
Le bureau d'assemblée étant ainsi constitué, le Président expose et prie le notaire d'acter ce qui suit:
I. Que les actionnaires présents ou représentés et le nombre de leurs actions sont renseignés sur une liste de présence,
signée par le président, le secrétaire, le scrutateur et le notaire soussigné. Ladite liste de présence, ainsi que les procu-
rations, resteront annexées au présent acte pour être soumises avec lui aux formalités de l'enregistrement.
II. Qu'il appert de cette liste de présence que toutes les actions émises, représentant ensemble l'intégralité du capital
social de la Société, actuellement fixé à cent mille Euros (€ 100.000.-) sont présentes ou représentées à la présente
assemblée générale extraordinaire, de sorte que l'assemblée peut décider valablement sur tous les points portés à son
ordre du jour.
III. Que l'ordre du jour de l'assemblée est le suivant:
<i>Ordre du jour:i>
1. Renonciation aux formalités de convocation.
2. Reconnaissance de l'accomplissement des conditions préliminaires à l'apport.
3. Renonciation à l'examen du projet d'apport par des experts indépendants, et au rapport d'expert sur base de l'article
296 (1) de la loi du 10 août 1915 sur les sociétés commerciales (la «Loi»).
4. Renonciation à l'établissement par les organes de gestion de la Société d'un rapport écrit détaillé expliquant et
justifiant le projet d'apport sur base de l'article 296 (2) de la Loi.
5. Approbation du projet d'Apport (le «Projet d'Apport») aux termes duquel la Société, apportera, sans dissolution,
sa branche d'activité principale consistant en l'importation et l'exportation, le négoce et le courtage de produits miniers
et métaux et de ferroalliages, et en général de tous outillages, matériels et matériaux divers à sa filiale, LS Alloys Trading
S.à r.l. (anciennement Brintin Invest S.A.), avec siège social à L-8440 Steinfort, 71, route de Luxembourg, inscrite au
Registre de Commerce et des Sociétés de Luxembourg, sous le numéro B 162.263, établie au Luxembourg suivant acte
du notaire Maître Jean SECKLER en date du 28 juin 2011, publié au Mémorial C n° 2216 du 20 septembre 2011.
6. Effets de l'apport de branche d'activités.
7. Modification de l'objet social de la Société et refonte des statuts.
8. Divers.
Après délibération, l'assemblée adopte unanimement les résolutions suivantes:
<i>Première résolutioni>
L'intégralité du capital social de la Société étant représentée à la présente assemblée, l'assemblée décide de renoncer
aux formalités de convocation, les actionnaires présents ou représentés se considérant comme dûment convoqués et
déclarant avoir pris connaissance de l'ordre du jour qui leur a été communiqué par avance.
<i>Deuxième résolutioni>
L'assemblée prend connaissance et app0rouve l'accomplissement par le conseil d'administration de la Société de
l'adoption du Projet d'Apport en date du 10 juillet 2012, lequel a été établi sous forme notariée par le notaire soussigné
en date du 12 juillet 2012 et publié, conformément à l'article 290 de la Loi, au Mémorial C numéro 1964 du 8 août 2012.
<i>Troisième résolutioni>
L'assemblée décide de renoncer à l'examen du projet de fusion par des experts indépendants et au rapport d'expert
visé à l'article 294 de la Loi en application de l'article 296 (1) de la Loi.
<i>Quatrième résolutioni>
L'assemblée décide de renoncer à l'établissement par les organes de gestion de la Société d'un rapport écrit détaillé
expliquant et justifiant le projet d'apport visé à l'article 293 de la Loi sur base de l'article 296 (2) de la Loi.
<i>Cinquième résolutioni>
L'assemblée décide d'approuver le Projet d'Apport et l'apport y décrit, aux termes duquel la Société apportera, sans
dissolution, sa branche d'activité principale consistant en l'importation et l'exportation, le négoce et le courtage de pro-
duits miniers et métaux et de ferroalliages, et en général de tous outillages, matériels et matériaux divers à sa filiale LS
Alloys Trading S.à r.l. (anciennement Brintin Invest S.A.).
<i>Sixième résolutioni>
L'assemblée reconnaît que l'apport de branche d'activité entraîne de plein droit la transmission universelle, tant entre
la Société en tant que société apporteuse et LS Alloys Trading S.à r.l. (anciennement Brintin Invest S.A.). en tant que
société bénéficiaire qu'à l'égard des tiers, de l'ensemble du patrimoine actif et passif en relation avec la branche d'activité
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ainsi que de tous droits et obligations de la Société en relation avec la branche d'activité à LS Alloys Trading S.à r.l.
(anciennement Brintin Invest S.A.) en application des dispositions des articles 285 à 308, à l'exception de l'article 303, de
la Loi, auxquelles renvoie l'article 308bis-3 de la Loi.
Le notaire soussigné déclare attester conformément aux dispositions de l'article 300 (2) de la Loi, la légalité de l'apport
de branche d'activité approuvé par le présent acte.
<i>Septième résolutioni>
Suite à l'apport de branche d'activité, l'assemblée décide de modifier l'objet social de la Société et ainsi de modifier
l'article 4 des statuts pour lui donner la teneur suivante:
" Art. 4. La Société a 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 et le contrôle
et le développement de ces participations.
La Société pourra participer à la création et au développement de toute société ou entreprise et pourra leur accorder
toute assistance. D'une manière générale, elle pourra prendre toutes mesures de contrôle et de surveillance et exécuter
toutes opérations qu'elle jugera utiles pour l'accomplissement et le développement de son objet.
Elle peut aussi acquérir par voie d'apport, de souscription, d'option, d'achat et de toute autre manière des valeurs
mobilières de toutes espèces et des portefeuilles titres et les réaliser par voie de vente, cession, échange ou autrement.
La Société a également pour objet l'acquisition, la détention, l'exploitation, la mise en valeur, la vente ou la location
d'immeubles, de terrains et autres, situés au Luxembourg ou à l'étranger.
La Société peut emprunter de quelque façon que ce soit, émettre des obligations et accorder aux sociétés dans
lesquelles elle possède un intérêt direct ou indirect et à ses actionnaires tous concours, prêts, avances ou garanties.
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 peut également procéder à toutes opérations immobilières, mobilières, commerciales, industrielles et fi-
nancières, nécessaires et utiles pour la réalisation de l'objet social.
Enfin, si cela s'avérait absolument nécessaire afin d'assurer la continuité de l'activité transférée en date du 1
er
sep-
tembre 2012 ou pour éviter un quelconque préjudice à l'entité ayant bénéficié du transfert de son ancienne activité, la
société pourrait continuer à exercer, d'une manière accessoire et exclusivement transitoire, dans tous les pays, l'impor-
tation et l'exportation, le négoce et le courtage, de produits miniers et métaux et de ferroalliages, et en général de tous
outillages, matériels et matériaux divers. Dans ce cadre, la société pourrait en outre agir, et seulement si cela s'avérait
nécessaire pour éviter un préjudice à l'entité ayant bénéficié du transfert de son ancienne activité, en tant qu'agent ou
représentant de toute autre société ayant une identité identique, semblable ou apparentée. Elle pourrait aussi travailler
comme intermédiaire dans les domaines précités, accomplir tant au Luxembourg qu'à l'étranger, seule ou avec d'autres
pour son propre compte ou pour compte de tiers."
Plus rien n'étant à l'ordre du jour, la séance est levée.
<i>Fraisi>
Le montant des frais, dépenses et rémunérations quelconques incombant à la société en raison des présentes s'élève
approximativement à neuf cent cinquante euros.
Dont Acte, fait et passé à Junglinster, les jour, mois et an qu'en tête des présentes.
Et après lecture, les comparants prémentionnés ont signé avec le notaire instrumentant le présent procès-verbal.
Signé: Cédric PAULUS, Maxime GROSJEAN, Jean SECKLER.
Enregistré à Grevenmacher, le 20 septembre 2012. Relation GRE/2012/3441. Reçu soixante-quinze euros 75,00 €.
<i>Le Receveuri> (signé): G. SCHLINK.
POUR EXPEDITION CONFORME.
Junglinster, le 22 octobre 2012.
Référence de publication: 2012137332/110.
(120181192) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Westlock S.à r.l., Société à responsabilité limitée.
Capital social: EUR 12.500,00.
Siège social: L-2633 Senningerberg, 6, route de Trèves.
R.C.S. Luxembourg B 159.400.
RECTIFICATIF
Une erreur matérielle s'est glissée lors de la publication pour la société susmentionnée, déposée au Registre de Com-
merce et des Sociétés le 11 octobre 2012, sous le numéro L120174580.
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Il y avait lieu de lire:
En date du 1
er
octobre 2012, les résolutions suivantes ont été adoptées par l'associé unique:
1) La démission de Monsieur Nigel Auger de son mandat de gérant a été acceptée avec effet immédiat.
2) La personne suivante a été nommée en tant que nouveau gérant, avec effet immédiat et pour une durée indéterminée:
- Monsieur Gregor Gottlieb, né le 16 décembre 1967 à Bonn, Allemagne, avec adresse professionnelle à 6, route de
Trèves, L-2633 Senningerberg.
Au lieu de:
En date du 1
er
octobre 2012, les résolutions suivantes ont été adoptées par l'associé unique:
1) La démission de Monsieur Niger Auger de son mandat de gérant a été acceptée avec effet immédiat.
2) La personne suivante a été nommée en tant que nouveau gérant, avec effet immédiat et pour une durée indéterminée:
- Monsieur Gregor Gottlieb, né le 16 décembre 1967 à Bonn, Allemagne, avec adresse professionnelle à 6, route de
Trèves, L-2633 Senningerberg.
Luxembourg, le 23 octobre 2012.
Signature.
Référence de publication: 2012138371/24.
(120182010) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
Mediterranée S.A., Société Anonyme.
Siège social: L-1471 Luxembourg, 412F, route d'Esch.
R.C.S. Luxembourg B 128.752.
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.
MEDITERRRANEE S.A.
Signatures
<i>Administrateur / Administrateuri>
Référence de publication: 2012137362/12.
(120181008) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
2gether, société coopérative, Société Coopérative.
Capital social: EUR 2.500,00.
Siège social: L-1922 Luxembourg, 12, rue Auguste Laval.
R.C.S. Luxembourg B 116.757.
<i>Compte-rendu de l’assemblée générale extraordinaire du vendredi 30 juin à 15 h 30 à Luxembourg, 12 rue Auguste Lavali>
<i>Ordre du jour:i>
- Allocution de la présidente
- Constat de la présence des 2/3 des parts sociales
- Dissolution de la coopérative
- Affectations des biens (excédent de l'actif et parts sociales)
- Nomination du liquidateur
- Divers
Le quorum des 2/3 étant atteint, l'Assemblée Générale décide la liquidation de la coopérative.
Il a été décidé à l'unanimité que les associés renoncent au remboursement de leur(s) part(s) sociale(s) et que le capital
sera versé sur un compte de l'ASTI asbl (Association de Soutien aux Travailleurs Immigrés). L'ASTI reprendra par ailleurs
l'actif et le passif de 2gether soc. coop.
Christiane Krier a été désignée comme liquidateur pour terminer les affaires en cours.
Luxembourg, le 30 juin 2011.
ASTI asbl. / Evandro Cimetta / Antoinette Reis / Norbert Ehlinger / Christiane Wolff / Christiane Krier /
Laura Zuccoli
Représenté par Serge Kollwelter / - / - / - / - / - / -
Référence de publication: 2012137651/25.
(120181565) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
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Steval S.à r.l., Société à responsabilité limitée.
Siège social: L-2310 Luxembourg, 4, avenue Pasteur.
R.C.S. Luxembourg B 168.821.
<i>Extrait des résolutions prises lors de la cession de parts socialesi>
En vertu d'une convention de cession de parts sociales passée sous seing privé en date du 16 octobre 2012,
Madame Valérie DE ARAUJO, née le 16 novembre 1970 à Thionville (France), demeurant à 9, rue de Seremange -
F-57 190 Florange (France),
a cédé 35 (trente-cinq) parts sociales de la Société à Monsieur Stephane DE ARAUJO, né le 21 mai 1974 à Thionville
(France), demeurant 9, rue de Seremange - F-57 190 Florange (France).
Luxembourg, le 16 octobre 2012.
Pour extrait conforme
<i>Pour la Société
Un mandatairei>
Référence de publication: 2012137525/17.
(120180954) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Mezzaninvest, Société Anonyme.
Siège social: L-1840 Luxembourg, 11B, boulevard Joseph II.
R.C.S. Luxembourg B 152.330.
Les comptes annuels au 31/12/2011 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.
Signature
<i>Domiciliatairei>
Référence de publication: 2012137365/11.
(120180899) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
F.M. Auto-Immo S.à r.l., Société à responsabilité limitée.
Siège social: L-8069 Strassen, 1, rue de l'Industrie.
R.C.S. Luxembourg B 67.807.
L'an deux mille douze, le seize octobre,
par-devant Maître Marc Loesch, notaire de résidence à Mondorf-les-Bains,
a comparu
Monsieur Jose Miguel Ferreira Borges Pedroso, employé privé, demeurant au 8, rue de la Chapelle, L-8017 Strassen,
agissant en sa qualité de gérant unique.
Lequel comparant déclare qu'il est l'associé unique de F.M. AUTO-IMMO S.à r.l., une société à responsabilité limitée,
ayant son siège social au 1, rue de l'Industrie à L-8069 Strassen, inscrite au Registre de Commerce et des Sociétés de
Luxembourg sous le numéro B 67.807, constituée suivant acte notarié en date du 23 décembre 1998, publié au Mémorial
C, Recueil des Sociétés et Associations, numéro 175 du 17 mars 1999.
Les statuts de la société ont été modifiés à plusieurs reprises et pour la dernière fois suivant acte notarié en date du
10 octobre 2008, publié au Mémorial C, Recueil des Sociétés et Associations, numéro 2675 du 3 novembre 2008.
Le comparant, représentant l'intégralité du capital social, prend les résolutions suivantes:
<i>Première résolutioni>
L'associé unique décide de rajouter un nouveau 2
e
alinéa de la teneur qui suit à l'article 3 des statuts de la société:
"La société a également pour objet le montage, l'équilibrage et la réparation de pneus et de chambres à air ainsi que
toutes autres prestations de services tombant dans le ressort de l'exploitation d'une station services pour véhicules."
<i>Deuxième résolutioni>
L'associé unique décide de nommer la personne suivante comme gérant supplémentaire de la société pour une durée
illimitée:
Monsieur Jordan Schryers, né à Montigny-le-Tilleul (Belgique), le 25 février 1992, demeurant à L-8510 Rédange-sur-
Attert, 41, Grand-rue.
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En ce qui concerne la branche d'activité en relation avec l'exploitation d'une station services, Monsieur Jordan Schryers,
prénommé, pourra valablement engager la société conjointement avec le gérant actuel Monsieur Jose Miguel Ferreira
Borges Pedroso, prénommé.
Dont acte, fait et passé à Luxembourg, 58, rue Glesener, date qu'en tête.
Et après lecture faite et interprétation donnée au comparant, celui-ci a signé avec le notaire, la présente minute.
Signé: J.M. Ferreira Borges Pedroso, M. Loesch.
Enregistré à Remich, le 16 octobre 2012. REM/2012/1267. Reçu soixante-quinze euros 75,00 €.
<i>Le Receveuri> (signé) P. MOLLING.
Pour expédition conforme.
Mondorf-les-Bains, le 22 octobre 2012.
Référence de publication: 2012137903/38.
(120181910) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
Mediterranée S.A., Société Anonyme.
Siège social: L-1471 Luxembourg, 412F, route d'Esch.
R.C.S. Luxembourg B 128.752.
<i>Extrait des résolutions prises lors de l' Assemblée Générale Statutaire du 23 mai 2012i>
«Les mandats d'Administrateur de Madame Saliha BOULHAIS, employée privée, demeurant professionnellement au
412F, route d'Esch, L-20S6 Luxembourg, de Monsieur Salim BOUREKBA, employé privé, demeurant professionnellement
au 412F, route d'Esch, L-2086 Luxembourg et de Monsieur Alain RENARD, employé prvié, demeurant professionnelle-
ment au 412F, route d'Esch, L-2086 Luxembourg et le mandat de Commissaire aux Comptes de la société FIN-
CONTRÔLE S.A., Société Anonyme, ayant son siège social au 12, rue Guillaume Kroll, bâtiment F, L-1882 Luxembourg
sont reconduits pour une nouvelle période statutaire de 6 ans. Ils viendront à échéance lors de l'Assemblée Générale
Statutaire de l'an 2018.
Fait à Luxembourg, le 23 mai 2012.
Certifié sincère et conforme
MEDITERRANEE S.A.
S. BOUREKBA / A. RENARD
<i>Administrateur / Administrateuri>
Référence de publication: 2012137363/20.
(120181411) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Cedarville S.à r.l., Société à responsabilité limitée.
Capital social: EUR 324.841,00.
Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.
R.C.S. Luxembourg B 150.059.
<i>Extrait des résolutions de l'associé unique du 19 octobre 2012i>
En date du 19 octobre 2012 l'associé unique de la Société a décidé comme suit:
- d'accepter la démission de Monsieur Johan DEJANS, en tant que gérant de la Société et ce avec effet immédiat.
- de nommer Madame Elizabeth TIMMER, née le 24 juillet 1965 à Zuidelijke IJsselmeerpolder (Pays-Bas), ayant comme
adresse professionnelle 13-15, Avenue de la Liberté, L-1931 Luxembourg, en tant que Gérant, pour une durée illimitée
et ce avec effet immédiat.
Le conseil de gérance de la Société se compose désormais comme suit:
<i>Gérants:i>
- ATC Management (Luxembourg) S.à r.l.
- Richard BREKELMANS
- Elizabeth TIMMER
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
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Luxembourg, le 22 octobre 2012.
Stijn CURFS
<i>Mandatairei>
Référence de publication: 2012137786/23.
(120181804) Déposé au registre de commerce et des sociétés de Luxembourg, le 23 octobre 2012.
MH Invest S.àr.l., Société à responsabilité limitée.
Siège social: L-2714 Luxembourg, 6-12, rue du Fort Wallis.
R.C.S. Luxembourg B 106.104.
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.
Référence de publication: 2012137366/9.
(120181256) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
MH Invest S.àr.l., Société à responsabilité limitée.
Siège social: L-2714 Luxembourg, 6-12, rue du Fort Wallis.
R.C.S. Luxembourg B 106.104.
Les comptes annuels au 31 décembre 2009 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: 2012137367/9.
(120181257) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
MIJIM s.àr.l., Société à responsabilité limitée.
Siège social: L-9153 Dirbach, Maison 4A.
R.C.S. Luxembourg B 134.771.
Le bilan au 31 décembre 2011 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Dirbach, le 22 octobre 2012.
Signature
<i>Le géranti>
Référence de publication: 2012137368/12.
(120181378) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Milanda S.A., Société Anonyme.
Siège social: L-2120 Luxembourg, 16, allée Marconi.
R.C.S. Luxembourg B 73.331.
Conformément à l'article 51bis de la loi modifiée du 10 août 1915 sur les sociétés commerciales, l'assemblée générale
ordinaire du 5 octobre 2012 a nommé comme représentante permanente de FIDESCO S.A., Administrateur, Madame
Evelyne GUILLAUME 16, Allée Marconi, L-2120 Luxembourg.
Pour extrait conforme
Signature
Référence de publication: 2012137369/12.
(120181417) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
New Ypso Management Benetti S.C.A., Société en Commandite par Actions.
Capital social: EUR 5.596.901,00.
Siège social: L-1130 Luxembourg, 37, rue d'Anvers.
R.C.S. Luxembourg B 137.176.
Monsieur Jérémie BONNIN, commissaire aux comptes de la Société, réside dorénavant au 37, rue d’Anvers L-1130
Luxembourg.
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Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Luxembourg, le 16 octobre 2012.
Référence de publication: 2012137392/12.
(120181677) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Willii A.G., Société Anonyme.
Siège social: L-6630 Wasserbillig, 42, Grand-rue.
R.C.S. Luxembourg B 76.301.
<i>Ausserordentliche Generalversammlung 28. Dezember 2011i>
<i>Erster Beschlussi>
Die Versammlung nimmt den Rücktritt der Gesellschaft „ KL Consult S.àr.l." als Rechnungskommissar an.
<i>Zweiter Beschlussi>
Die Gesellschaft Luxtax S.à r.l. 38, Grand-Rue in 6630 Wasserbillig, eingeschrieben in Luxembourg im Handelsregister
unter der Nummer B 122.744 wird zum neuen Rechnungskommissar für die Dauer von 6 Jahren ernannt. Das Mandat
endet während der Generalversammlung des Jahres 2017.
<i>Dritter Beschlussi>
Die Mandate der bestehenden Verwaltungsratsmitglieder verlängern sich bis zur Generalversammlung des Jahres 2017.
Da somit de Tagesordnung erledigt ist, hebt der Vorsitzende die Versammlung auf.
Wasserbillig, den 28. Dezember 2011.
Wilfried Kurrat / Uwe Klein / Sigrid Leicher
<i>Stimmzähler / Vorsitzender / Schriftführeri>
Référence de publication: 2012137582/20.
(120181573) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Oxara Italia S.à r.l., Société à responsabilité limitée.
Capital social: EUR 12.500,00.
Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.
R.C.S. Luxembourg B 133.462.
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.
Luxembourg, le 19 octobre 2012.
Stijn CURFS
<i>Mandatairei>
Référence de publication: 2012137406/12.
(120180743) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Ozar, Société à responsabilité limitée.
Siège social: L-1836 Luxembourg, 23, rue Jean Jaurès.
R.C.S. Luxembourg B 171.190.
Les statuts coordonnés au 11/10/2012 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.
Redange-sur-Attert, le 19/10/2012.
Me Cosita Delvaux
<i>Notairei>
Référence de publication: 2012137411/12.
(120180888) Déposé au registre de commerce et des sociétés de Luxembourg, le 22 octobre 2012.
Editeur:
Service Central de Législation, 43, boulevard F.-D. Roosevelt, L-2450 Luxembourg
Imprimeur: Association momentanée Imprimerie Centrale / Victor Buck
133536
2gether, société coopérative
aeris CAPITAL Sustainable Impact
aPRIVA S.à r.l.
Cargolux Airlines International S.A.
Cedarville S.à r.l.
Fidugia S.A.
F.M. Auto-Immo S.à r.l.
Global Climate Partnership Fund SA, SICAV-SIF
Intelec Investments S.A.
Ivry S.A.
Lion/Gem Luxembourg 3 S.à r.l.
LIS S.à r.l.
Lousseau Holding S.A.
LS Alloys
Lucide Europe S.A.
Lucilinburhuc (LBH) S.A.
Lucilinburhuc (LBH) S.A.
Luxair Finance S.à r.l.
Luxindus s.à.r.l.
Luxinvest S.A.
Lux Lettering S.àr.l.
Lux Moebel TEC Sàrl
Luxory S.A.
Lyrane Invest S.A.
Maclean SPF S.A.
Mainstay S.àr.l.
Marianne 2000 S.à r.l.
Maryline Sàrl
MD Mezzanine S.A., SICAR
Mediobanca International Immobilière S.à r.l.
Mediterranée S.A.
Mediterranée S.A.
Mezzaninvest
MH Invest S.àr.l.
MH Invest S.àr.l.
MIJIM s.àr.l.
Milanda S.A.
Milo S.A.
Mixt S.A.
Moesdorf S.à.r.l.
Moselle Properties S.à r.l.
New Ypso Management Benetti S.C.A.
Oxara Italia S.à r.l.
Ozar
PO Participations S.A.
Postcard SA
Steval S.à r.l.
Threadneedle Asset Management Holdings Sàrl
TRE PIU UNO S.à r.l.
Ultima International S.à r.l.
VAM Managed Funds (Lux)
Victor Hugo 2 S.à r.l.
Westlock S.à r.l.
Willii A.G.
Woodimmo S.A.