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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° 1101

10 mai 2013

SOMMAIRE

Abici S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52804

ADMC-Audit, Diagnostic, Mise en Confor-

mité S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . .

52804

Alter Ego Immobilier S.à r.l. . . . . . . . . . . . .

52803

Artison S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .

52807

Banco Popolare Luxembourg S.A. . . . . . . .

52804

Batitoiture S.à r.l. . . . . . . . . . . . . . . . . . . . . . .

52804

BlueGem II SCA, SICAV-FIS . . . . . . . . . . . .

52810

Boulangerie Belle Boutique S.A. . . . . . . . . .

52804

Carpathian Cable Investments S.à r.l. . . . .

52804

DF Real Estate S.A. . . . . . . . . . . . . . . . . . . . .

52803

Electricité Jeannot Brücher et Fils S.à.r.l.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52802

Erdi S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52802

Eumi Tra Holdings S.à r.l. . . . . . . . . . . . . . . .

52837

Fisch Umbrella Fund . . . . . . . . . . . . . . . . . . .

52809

Flextronics ODM Luxembourg S.A. . . . . . .

52802

Frënn vun der ATP . . . . . . . . . . . . . . . . . . . . .

52806

Hadhan Holding S.A., SPF . . . . . . . . . . . . . .

52808

H&A Lux Global Asset . . . . . . . . . . . . . . . . . .

52828

HDI-Gerling Assurances SA Luxembourg

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52808

HORWARD DESIGN Luxembourg S.à r.l.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52808

Hydroconcept S.A. . . . . . . . . . . . . . . . . . . . . .

52802

In-Out Office Center S.A. . . . . . . . . . . . . . . .

52802

Kitry Consulting S.A. . . . . . . . . . . . . . . . . . . .

52807

LB Dame LP S.à r.l. . . . . . . . . . . . . . . . . . . . .

52807

Leviatan Capital S.A. . . . . . . . . . . . . . . . . . . .

52805

Luxmenuiserie S.à r.l. . . . . . . . . . . . . . . . . . .

52808

Maison Seil S.A. . . . . . . . . . . . . . . . . . . . . . . . .

52807

MB Amis S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .

52805

Mikado Holdings S.à r.l. . . . . . . . . . . . . . . . . .

52837

Montauk Investments S.A. . . . . . . . . . . . . . .

52806

Montepaschi Luxembourg S.A. . . . . . . . . . .

52806

NCTransports Lux S.A. . . . . . . . . . . . . . . . . .

52805

Nicolas Schuster Development S.à.r.l. . . .

52845

Nord/LB Covered Finance Bank S.A. . . . .

52802

Norfram S.A. . . . . . . . . . . . . . . . . . . . . . . . . . .

52806

RS Lighting s.à r.l. . . . . . . . . . . . . . . . . . . . . . .

52828

Rushmore Development S.A. . . . . . . . . . . .

52805

Skano S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . .

52828

Sport 3000 S.A. . . . . . . . . . . . . . . . . . . . . . . . .

52803

THB JV S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .

52803

United Consultants International S.A. . . .

52803

UPS International Investments LLC S.C.S.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52809

UPS International Investments LLC S.C.S.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52809

VEREF I Invest Co 4 S.àr.l. . . . . . . . . . . . . . .

52830

ZEN High-Tech S.A. . . . . . . . . . . . . . . . . . . . .

52803

52801

U X E M B O U R G

Nord/LB Covered Finance Bank S.A., Société Anonyme.

Siège social: L-1748 Luxembourg, 7, rue Lou Hemmer.

R.C.S. Luxembourg B 116.546.

Der Jahresabschluss vom 31.12.2012 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinterlegt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042392/9.
(130051309) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

In-Out Office Center S.A., Société Anonyme Unipersonnelle.

Siège social: L-1330 Luxembourg, 26, boulevard Grande-Duchesse Charlotte.

R.C.S. Luxembourg B 128.566.

Les comptes annuels au 31.12.2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042305/9.
(130051647) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Hydroconcept S.A., Société Anonyme.

Siège social: L-1718 Luxembourg, 25, rue Haute.

R.C.S. Luxembourg B 108.202.

Les comptes annuels au 31/12/2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042295/9.
(130051557) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Flextronics ODM Luxembourg S.A., Société Anonyme.

Siège social: L-8009 Strassen, 117, route d'Arlon.

R.C.S. Luxembourg B 86.376.

Les comptes annuels au 31 mars 2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042247/9.
(130051287) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Erdi S.A., Société Anonyme.

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

R.C.S. Luxembourg B 22.385.

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: 2013042221/9.
(130051612) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Electricité Jeannot Brücher et Fils S.à.r.l., Société à responsabilité limitée.

Siège social: L-1273 Luxembourg, 7, rue de Bitbourg.

R.C.S. Luxembourg B 8.796.

Les comptes annuels au 31/12/2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042215/9.
(130051555) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

52802

U X E M B O U R G

DF Real Estate S.A., Société Anonyme.

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

R.C.S. Luxembourg B 135.775.

Les comptes annuels au 31 décembre 2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042197/9.
(130051481) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

THB JV S.à r.l., Société à responsabilité limitée.

Siège social: L-2540 Luxembourg, 13, rue Edward Steichen.

R.C.S. Luxembourg B 165.909.

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: 2013042062/9.
(130051321) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Sport 3000 S.A., Société Anonyme.

Siège social: L-1653 Luxembourg, 2, avenue Charles de Gaulle.

R.C.S. Luxembourg B 75.875.

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: 2013042048/9.
(130051672) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

United Consultants International S.A., Société Anonyme.

Siège social: L-2430 Luxembourg, 36, rue Michel Rodange.

R.C.S. Luxembourg B 81.470.

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.
Référence de publication: 2013042072/9.
(130051229) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

ZEN High-Tech S.A., Société Anonyme.

Siège social: L-1371 Luxembourg, 31, Val Sainte Croix.

R.C.S. Luxembourg B 104.070.

Les comptes annuels au 31 décembre 2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042090/9.
(130051494) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Alter Ego Immobilier S.à r.l., Société à responsabilité limitée.

Siège social: L-8028 Strassen, 35, rue Mathias Goergen.

R.C.S. Luxembourg B 164.041.

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: 2013042104/9.
(130051541) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

52803

U X E M B O U R G

Abici S.A., Société Anonyme.

Siège social: L-1653 Luxembourg, 2, avenue Charles de Gaulle.

R.C.S. Luxembourg B 54.916.

Le Bilan au 31 décembre 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.
Référence de publication: 2013042112/9.
(130051589) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

ADMC-Audit, Diagnostic, Mise en Conformité S.à r.l., Société à responsabilité limitée.

Siège social: L-3850 Schifflange, 90-94, avenue de la Libération.

R.C.S. Luxembourg B 140.375.

Les comptes annuels au 31 décembre 2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042114/9.
(130051337) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Banco Popolare Luxembourg S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 26, boulevard Royal.

R.C.S. Luxembourg B 47.796.

Les comptes annuels au 31 décembre 2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042144/9.
(130051237) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

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

Siège social: L-3461 Dudelange, 6, rue des Ecoles.

R.C.S. Luxembourg B 99.923.

Les comptes annuels au 31/12/2012 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013042146/9.
(130051556) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Boulangerie Belle Boutique S.A., Société Anonyme.

Siège social: L-6776 Grevenmacher, 10, An den Längten.

R.C.S. Luxembourg B 36.187.

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.
Référence de publication: 2013042156/9.
(130051638) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Carpathian Cable Investments S.à r.l., Société à responsabilité limitée.

Capital social: USD 20.000,00.

Siège social: L-1840 Luxembourg, 40, boulevard Joseph II.

R.C.S. Luxembourg B 107.814.

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.
Référence de publication: 2013042160/9.
(130051269) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

52804

U X E M B O U R G

Rushmore Development S.A., Société Anonyme.

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

R.C.S. Luxembourg B 176.086.

EXTRAIT

L'assemblée générale extraordinaire, réunie en date du 28 mars 2013 au siège social, a pris à l'unanimité les résolutions

suivantes:

1) L'assemblée a pris acte de la démission de trois administrateurs, Messieurs Jean-Yves Nicolas, Sébastien Gravière

et Michael Zianveni.

2) L’assemblée a nommé deux nouveaux administrateurs, à savoir, Monsieur Charles Meyer, citoyen luxembourgeois,

né le 19/04/1969 à Luxembourg et Monsieur John Wantz, citoyen luxembourgeois, né le 17/05/1966 à Luxembourg, tous
deux domiciliés professionnellement au 121, avenue de la Faiencerie, L-1511 Luxembourg. Ils achèveront le mandat de
leurs prédécesseurs. Leurs mandats viendront à échéance à l’issue de l’assemblée générale ordinaire à tenir en 2018.

Pour extrait conforme
Signature

Référence de publication: 2013041410/18.
(130050960) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 mars 2013.

NCTransports Lux S.A., Société Anonyme.
Siège social: L-4831 Rodange, 152, route de Longwy.

R.C.S. Luxembourg B 148.635.

Le bilan au 31 décembre 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.

Signature.

Référence de publication: 2013042391/10.
(130051397) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

MB Amis S.à r.l., Société à responsabilité limitée.

Siège social: L-7254 Bereldange, 3, rue de Steinsel.

R.C.S. Luxembourg B 100.398.

Signature.

Référence de publication: 2013042382/10.
(130051636) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Leviatan Capital S.A., Société Anonyme.

Capital social: EUR 30.986,69.

Siège social: L-2430 Luxembourg, 17, rue Michel Rodange.

R.C.S. Luxembourg B 67.137.

EXTRAIT

Par décision de l'Assemblée Générale Extraordinaire du 27 février 2013: -
- Est acceptée avec effet au 1

janvier 2013 la démission de FIDUCIARY & ACCOUNTING SERVICES S.A. en tant

que Commissaire aux Comptes.

- Est acceptée avec effet au 1

janvier 2013 la nomination de FIDUCIAIRE SEVE S.A. ayant son siège social 12D

Impasse Drosbach, L-1882 Luxembourg n° RCS Luxembourg B 82421 en tant que Commissaire aux Comptes en rem-
placement de FIDUCIARY & ACCOUNTING SERVICES S.A jusqu'à l'assemblée générale qui se tiendra en l'année 2018.

Luxembourg, le 27 février 2013.

Pour LEVIATAN CAPITAL S.A.

Référence de publication: 2013040094/16.
(130049236) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

52805

U X E M B O U R G

Montauk Investments S.A., Société Anonyme.

Siège social: L-2420 Luxembourg, 15, avenue Emile Reuter.

R.C.S. Luxembourg B 170.796.

Extrait des résolutions du Conseil d'Administration de la Société du 1

er

mars 2013

Première résolution

Election de Monsieur Marc AUGIER en tant que Président du Conseil d'Administration.
Le Conseil d'Administration décide de nommer Monsieur Marc AUGIER comme Président du Conseil d'Administration

qui l'accepte.

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

Luxembourg, le 25 mars 2013.

MONTAUK INVESTMENTS S.A.

Référence de publication: 2013040153/15.
(130048926) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

Norfram S.A., Société Anonyme.

Siège social: L-1450 Luxembourg, 13, Côte d'Eich.

R.C.S. Luxembourg B 134.104.

Extrait du procès-verbal de la réunion du conseil d’administration de la Société tenue au siège social, le 1

er

Mars 2013.

Les administrateurs ont délibéré sur la résolution suivante:
1. Pouvoir donné à Hervé Coque pour la gestion journalière de la «Société» et notamment le fonctionnement du

compte de la «Société» ouvert dans les livres de la BIL sous le numéro LU32 0029 1879 6726 1300 (avec signature
individuelle, en remplacement de celle de Monsieur Philippe Wauquiez, démissionnaire).

Pour la société
M. Hervé Coque

Référence de publication: 2013040177/14.
(130048557) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

Frënn vun der ATP, Association sans but lucratif.

Siège social: L-8287 Kehlen, 8, Zone Industrielle.

R.C.S. Luxembourg F 4.107.

Procès-Verbal de l'assemblée générale extraordinaire du 19 mars 2013

Dans sa réunion du 19 mars 2013, l'assemblée générale extraordinaire décide la modification des statuts suivante:
1. Modification du siège social: Le siège de l'association est établi à Kehlen, 8 Zone Industrielle.
2. Modification de la raison sociale: remplacement «Les Amis de l'ATW» par «Frënn vun der ATP»
Etabli en 2 exemplaires.

Kehlen, le 19 mars 2013.

Signatures.

Référence de publication: 2013040093/13.
(130049069) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

Montepaschi Luxembourg S.A., Société Anonyme.

Siège social: L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte.

R.C.S. Luxembourg B 80.832.

Veuillez noter que l’adresse de M. Mauro RUSCA est désormais 147/4e, Avenue Brugmann, B-1190 Forest.

Luxembourg, le 26 mars 2013.

Pour avis sincère et conforme
Pour Montepaschi Luxembourg S.A.
Intertrust (Luxembourg) S.A.

Référence de publication: 2013040121/12.
(130049020) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

52806

U X E M B O U R G

Artison S.à r.l., Société à responsabilité limitée unipersonnelle.

Siège social: L-1653 Luxembourg, 2-8, avenue Charles de Gaulle.

R.C.S. Luxembourg B 129.306.

Luxembourg, le 22 mars 2013.

Luxembourg Corporation Company S.A.
Signatures

Référence de publication: 2013042125/12.
(130051665) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mars 2013.

Maison Seil S.A., Société Anonyme.

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

R.C.S. Luxembourg B 112.389.

Auszug aus der Beschlussfassung der Ordentlichen Generalversammlung, welche ausnahmsweise am 22.03.2013 stattgefunden

hat

Das Mandat des Wirtschaftsprüfers PricewaterhouseCoopers S.à r.l., mit Sitz 400, route d'Esch in L-1014 Luxembourg

wird um ein weiteres Jahr, d.h. für den Prüfungszeitraum vom 1.1.2013 bis zum 31.12.2013, verlängert. Es läuft anlässlich
der Ordentlichen Generalversammlung aus, welche den Jahresabschluss 2013 genehmigt.

Für beglaubigten Auszug

Référence de publication: 2013040112/13.
(130049292) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

LB Dame LP S.à r.l., Société à responsabilité limitée de titrisation.

Siège social: L-1331 Luxembourg, 65, boulevard Grande-Duchesse Charlotte.

R.C.S. Luxembourg B 129.546.

Extrait de la résolution prise par le conseil de gérance en date du 26 juillet 2012

La société anonyme ERNST & YOUNG, a été reconduite dans son mandat de réviseur d’entreprises agréé jusqu’à

l’issue de l’assemblée générale statutaire de 2013.

Luxembourg, le 26 mars 2013.

Pour extrait sincère et conforme
Pour LB Dame LP S.à r.l.
Intertrust (Luxembourg) S.A.

Référence de publication: 2013040085/14.
(130049058) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

Kitry Consulting S.A., Société Anonyme.

Siège social: L-2530 Luxembourg, 10A, rue Henri M. Schnadt.

R.C.S. Luxembourg B 75.995.

Extrait de l’Assemblée Générale tenue à Luxembourg en date du 13 mars 2013

L’Assemblée générale accepte la démission de son commissaire aux comptes, la société FIDUO.
L’Assemblée générale nomme la société «FISCALITE, COMPTABILITE, GESTION S.à r.l.», immatriculée au Registre

de Commerce et des Sociétés de Luxembourg sous le numéro B61071, ayant son siège social au 4, rue de Kleinbettingen,
L-8362 Grass.

Le mandat du nouveau Commissaire aux Comptes prendra fin à l’issue de l’Assemblée générale annuelle à tenir en

2014.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013040070/15.
(130049586) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

52807

U X E M B O U R G

Hadhan Holding S.A., SPF, Société Anonyme - Société de Gestion de Patrimoine Familial.

Siège social: L-1724 Luxembourg, 11A, boulevard du Prince Henri.

R.C.S. Luxembourg B 23.814.

Extrait du Procès-Verbal de l'Assemblée Générale Ordinaire tenue le 5 juin 2012

Deuxième résolution

L'Assemblée renouvelle le mandat du Commissaire, AUDIEX S.A. avec siège social au 57, Avenue de la Faïencerie

L-1510 Luxembourg, pour une nouvelle période d'une année, prenant fin lors de l'Assemblée Générale Ordinaire qui se
tiendra en 2013.

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

HADHAN HOLDING S.A., SPF
Société Anonyme - société de gestion de patrimoine familial

Référence de publication: 2013039990/15.
(130049286) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

HORWARD DESIGN Luxembourg S.à r.l., Société à responsabilité limitée.

Siège social: L-4987 Sanem, 15, Quartier de l'Eglise.

R.C.S. Luxembourg B 170.220.

Extrait du procès-verbal de l'assemblée générale extraordinaire tenue au siège social en date du 1

er

février 2013

Après délibérarations, l'Assemblée accepte à l’unanimité la démission de Mr Charles HORWARD de son poste de

gérant technique avec effet au 1

janvier 2013.

En remplacement, l’Assemblée nomme, avec effet au 1

janvier 2013 et pour une durée indéterminée, au poste de

gérant technique, Monsieur Julian BOSSICART, né à Arlon le 5 janvier 1990 et domicilié Rue Jean Laurent, 37 bte 22 à
6750 MUSSON, ici présent qui accepte.

POUR EXTRAIT CONFORME

Référence de publication: 2013039999/14.
(130049185) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

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

Siège social: L-2543 Luxembourg, 30, Dernier Sol.

R.C.S. Luxembourg B 141.433.

Extrait de l’Assemblée Générale Extraordinaire du 28 février 2013

Les associés décident de transférer le siège social de la société de son adresse actuelle vers L-2543 Luxembourg, 30,

Dernier Sol.

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

Pour extrait conforme
Frédéric DEFLORENNE

Référence de publication: 2013040106/13.
(130048908) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

HDI-Gerling Assurances SA Luxembourg, Société Anonyme.

Siège social: L-1840 Luxembourg, 7, boulevard Joseph II.

R.C.S. Luxembourg B 30.015.

Extrait du procès-verbal du Conseil d’administration du 31 janvier 2013.

Le Conseil confie à Monsieur Louis Gerardus Antonius Suzanne Niemans, ayant pour adresse professionnelle NL-3012

KL Rotterdam, Westblaak 14, le mandat de Président du Conseil d’administration, ceci avec effet au 31 janvier 2013.

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

Luxembourg, le 18 mars 2013.

Référence de publication: 2013039996/12.
(130049036) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 mars 2013.

52808

U X E M B O U R G

UPS International Investments LLC S.C.S., Société en Commandite simple.

Siège social: L-2453 Luxembourg, 18-20, rue Eugène Ruppert.

R.C.S. Luxembourg B 165.794.

Extrait des résolutions prises par les associés de la Société en date du 14 mars 2013

Conformément aux articles 141 à 151 de la loi du 10 août 1915 concernant les sociétés commerciales, les associés

décident:

- de mettre en liquidation la Société avec effet immédiat;
- de nommer UPS International Investments LLC, une limited liability company, constituée et régie selon les lois du

Delaware, Etats-Unis d'Amérique, ayant son siège social au 55, Glenlake Parkway NE, GA 30328 Atlanta, Etats-Unis
d'Amérique, immatriculée auprès du Division of Corporations of the State of Delaware sous le numéro 5079834, en tant
que liquidateur de la Société avec effet immédiat.

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

Luxembourg, le 28 mars 2013.

UPS International Investments LLC S.C.S.
Signature

Référence de publication: 2013042904/19.
(130051814) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 avril 2013.

UPS International Investments LLC S.C.S., Société en Commandite simple.

Siège social: L-2453 Luxembourg, 18-20, rue Eugène Ruppert.

R.C.S. Luxembourg B 165.794.

Clôture de liquidation

Extrait des résolutions prises par les associés de la Société en date du 27 mars 2013

Les associés de la Société:
- approuvent le rapport du commissaire à la liquidation;
- prononcent la clôture de la liquidation et constatent que la Société a définitivement cessé d'exister en date du 27

mars 2013;

- décident que les livres et documents sociaux seront déposés et conservés pendant une durée de cinq ans à l'adresse

suivante: 400, route d'Esch, L-1014 Luxembourg.

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

Luxembourg, le 2 avril 2013.

UPS International Investments LLC S.C.S.
En liquidation volontaire
Signature

Référence de publication: 2013042905/20.
(130052070) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 avril 2013.

Fisch Umbrella Fund, Fonds Commun de Placement.

Die koordinierte Fassung des Verwaltungsreglementes des Fisch Umbrella Fund vom 27. März 2013 wurde beim

Handels- und Gesellschaftsregister von Luxemburg hinterlegt.

Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.

Luxemburg, den 10. Mai 2013.

Für Fisch Fund Services AG
HANDELND IN IHREM EIGENEN NAMEN UND FÜR RECHNUNG DES
FISCH UMBRELLA FUND
RBC Investor Services Bank S.A.
Société anonyme

Référence de publication: 2013048591/14.
(130059521) Déposé au registre de commerce et des sociétés de Luxembourg, le 16 avril 2013.

52809

U X E M B O U R G

BlueGem II SCA, SICAV-FIS, Société en Commandite par Actions sous la forme d'une SICAV - Fonds

d'Investissement Spécialisé.

Siège social: L-1748 Findel, 7, rue Lou Hemmer.

R.C.S. Luxembourg B 176.983.

STATUTES

In the year two thousand and thirteen, on the nineteenth day of April.
Before Us M

Carlo WERSANDT, notary residing in Luxembourg, (Grand Duchy of Luxembourg), undersigned.

THERE APPEARED:

1. BlueGem II Partners S.à r.l., a private limited liability company (société à responsabilité limitée) incorporated under

the laws of Luxembourg, having its registered office at 7, rue Lou Hemmer, L-1748 Findel, Grand Duchy of Luxembourg,
in the course of registration with the Luxembourg Trade and Companies Register (the General Partner);

here represented by Me Christopher DORTSCHY, lawyer, residing in Luxembourg, by virtue of a power of attorney

given under a private seal; and

2. MEM II (Lux) LP, a limited partnership under English law with registered office at 16 Berkeley Street, London, W1J

8DZ and registered with the Registrar for England and Wales under LP15463;

here represented by Me Christopher DORTSCHY, prenamed, by virtue of a power of attorney, given under a private

seal.

Said proxies, after having been signed ne varietur by the proxyholder of the appearing parties and by the undersigned

notary, shall remain annexed to the present deed, to be filed with the registration authorities.

Such appearing parties, represented as stated above, have requested the undersigned notary, to state as follows the

articles of association of a corporate partnership limited by shares (société en commandite par actions), which is hereby
incorporated.

1. Art. 1. Definitions. 2007 Act means the Luxembourg act of 13 February 2007 relating to SIFs (as defined below), as

may be amended from time to time;

Accounting Period means a period beginning on 1 January and ending on 31 December of each year except for the

first Accounting Period which begins on the date of establishment of the Company and ends on 31 December 2013 and
the last Accounting Period which ends on the date of the winding-up of the Company;

Administrative Agent means such entity as may be appointed as administrative agent of the-Company as further des-

cribed in the Memorandum;

Articles means the articles of association of the Company, as amended from time to time.
Associates means in relation to any undertaking (U), a parent undertaking of U, a subsidiary undertaking of U, a

subsidiary undertaking of a parent undertaking of U or a parent undertaking of a subsidiary undertaking of U, and in
relation to any body corporate (C), a holding company of C, a subsidiary of C, a subsidiary of a holding company of C or
a holding company of a subsidiary of C, or in the case of a limited partnership (L) any corporation which is an Associate
of a general partner of L, provided however that a Portfolio Company shall not be deemed to be an Associate of the
General Partner or the Investment Adviser by reason only of an Investment by the Company or by a Parallel Fund;

Business Day means a business day as determined in the Memorandum;
Capital Contribution means the amount contributed by an Investor to the capital of the Company;
Carry Interests means carry interest as determined in article 28.7;
Class means a class of Shares (catégorie d'actions) as such term is understood under the Companies Act;
Commitment means in relation to an Investor, the amount committed by it to the Company (and accepted by the

General Partner in accordance with the provisions of the Memorandum);

Companies Act means the Luxembourg act of 10 August 1915 concerning commercial companies, as amended, from

time to time;

CSSF means the Commission de Surveillance du Secteur Financier, the Luxembourg supervisory authority for the

financial sector;

Defaulting Investor means an Investor who/which defaults on the payment of his/her/its Commitment and has not

remedied the default in accordance with article 9.1;

Depositary means the depositary appointed by the Company pursuant to article 26 and which is described in the

Memorandum;

Drawdown Date means in relation to each Investor, the date as of which a drawdown of Commitment is made;
Drawdown Notice means a written notice given to the Investors by the General Partner in such form as the General

Partner may determine from time to time to drawn down partly or fully the Commitments;

Eligible Investor means an Investor who/which is (i) a Well-Informed Investor and (ii) not a Restricted Person;

52810

U X E M B O U R G

EUR means the single currency of the member states of the Economic and Monetary Union;
Expenses has the meaning ascribed to it in the Memorandum;
First Closing Date means the date upon which the first Investors are admitted to the Company as determined in the

Memorandum;

General Meeting means the general meeting of the Shareholders;
General Partner means BlueGem II Partners S.à r.l., the unlimited shareholder (actionnaire gérant commandité) of the

Company and references to the exercise of any determinations, discretions and the making of decisions shall be references
to the General Partner acting on behalf of the Company;

GP Share means the general partner share subscribed by the General Partner;
Income means any interest, dividends or other receipts of an income nature as determined by the General Partner

collected or to be collected from the Company. For the avoidance of doubt, any repayment of loan principal or capital
proceeds arising from the disposal of shares or any foreign exchange gains arising therefrom are not qualified as Income;

Income Account means an account of the Company exclusively used to receive and hold Income;
Indemnified Person means any of the General Partner, the Investment Adviser, any Associate of either of them and

any Indemnified Individual;

Institutional Investor means an investor who/which qualifies as an institutional investor under Luxembourg Law;
Investment Holding Company means a body corporate and/or company and/or partnership wholly or partly owned

or acquired by the Company and/or a Parallel Fund (or any custodian or nominee) established or acquired for the purpose
of carrying out investment, underwriting, bridging and/or syndication transactions. Loans to an Investment Holding Com-
pany and amounts invested in its equity securities are treated as Investments and amounts received by the Company from
an Investment Holding Company shall be treated as proceeds of such Investment;

Investment Period means the period from First Closing Date to the earlier of:
(a) the fifth (5

) anniversary of the Final Closing Date;

(b) the date the General Partner may in its absolute discretion determine by giving notice to all the Investors that the

Investment Period has ended; or

(c) the date on which the Investment Period is terminated for another cause determined in the Memorandum;
Investor means any person who/which is or becomes an investor in the Company by assuming a Commitment and,

where the context requires, shall include that person as a Shareholder;

Investors' Ordinary Consent means the written consent (which may consist of one or more documents each signed

by one or more of the Investors) of Investors who/which hold Commitments which in aggregate exceed 50% of Total
Commitments provided that an Investors' Ordinary Consent shall only be effective if investors in the Company and any
Parallel Funds holding in aggregate more than 50% of the aggregate commitments in the Company and the relevant Parallel
Funds shall have signed similar consents (and, for the avoidance of doubt, an Investor shall be entitled to split its Com-
mitment for these purposes so that an Investor may consent in respect of part of its Commitment and withhold consent
in respect of the balance);

Investors' Special Consent means the written consent (which may consist of one or more documents each signed by

one or more of the Investors) of Investors who/which hold Commitments which in aggregate equal or exceed 75% of
Total Commitments provided that an Investors' Special Consent shall only be effective if investors in the Company and
any Parallel Funds holding in aggregate at least 75% of the aggregate commitments in the Company and the relevant Parallel
Funds shall have signed similar consents (and, for the avoidance of doubt, an Investor shall be entitled to split its Com-
mitment for these purposes so that an Investor may consent in respect of part of its Commitment and withhold consent
in respect of the balance);

IPEV Guidelines means the International Private Equity and Venture Capital Valuation Guidelines;
Luxembourg means the Grand Duchy of Luxembourg;
Luxembourg Law means the applicable laws and regulations of the Grand Duchy of Luxembourg;
Lux GAAP means Luxembourg General Accepted Accounting Principles;
Manager means any manager of the General Partner;
Memorandum means the private offering memorandum of the Company drawn up in accordance with article 52 (1)

of the 2007 Act, as may be amended from time to time;

Net Asset Value means the net asset value of the Company, each Class and each Share as determined in accordance

with article 14;

Net Distributable Cash means with respect to any period, all cash receipts by the Company arising during that period

from the investments and other assets (including amounts released from reserves and all cash proceeds received by the
Company during that period from capital events, including (a) the sale, transfer, exchange or other disposal of all or any
portion of any investment and (b) any similar transaction), reduced by the portion thereof used during that period to pay
in or to establish reserves, service the requirements of any credit facility or other third party debt, and pay any expenses;

Ordinary Shares means all Shares of whichever Class other than the GP Share;

52811

U X E M B O U R G

Other Accounts means any account of the Company other than the Income Account to receive and hold all receipts

collected or to be collected by the Company other than Income;

Parallel Fund means a parallel fund as defined in the Memorandum;
Register means the register of Shareholders;
Restricted Person has the meaning given in article 13.1;
Series has the meaning given in article 6.8;
Shares means all shares (including GP Share(s) and Ordinary Shares of any Class or Series) issued by the Company

from time to time, representing the total outstanding share capital of the Company;

Shareholder means a holder of one or more Shares;
Subscription Agreement means the subscription agreement entered into by each Investor and the Company as it may

be further amended from time to time;

Subsequent Closing has the meaning given to it in article 8.7;
Substitute Investor means the transferee of Ordinary Shares and Undrawn Commitments as further described in article

10;

Total Capital Contributions means the total of all Capital Contributions made by the Investors to the Company;
Total Commitments means the aggregate amount for the time being of all of the Commitments;
Transfer has the meaning set out in article 10;
Undrawn Commitment means with regard to an Investor, the amount of its Commitment which at the relevant time

is available to be drawn down and includes, for the avoidance of doubt, those amounts repaid and available for further
drawdown pursuant to the Memorandum, but not exceeding an Investor's Commitment;

Valuation Date means a day as at which the Net Asset Value shall be calculated;
Well-Informed Investors means any well-informed investors within the meaning of article 2 of the 2007 Act. There

exist three categories of well-informed investors, Institutional Investors, Professional Investors and Experienced Investors.
For the avoidance of doubt, the managers and the other persons involved in the management of the Company are regarded
as Well-Informed Investors for the purpose of article 2 of the 2007 Act.

2. Art. 2. Form and Name.
2.1 There hereby exists an investment company with variable capital - specialised investment fund (société d'investis-

sement à capital variable - fonds d'investissement specialisé), established as a corporate partnership limited by shares
(société en commandite par actions) under the name of BlueGem II SCA, SICAV-FIS (the Company).

2.2 The Company shall be governed by the 2007 Act, by the Companies Act (provided that in case of conflicts between

the Companies Act and the 2007 Act, the 2007 Act shall prevail) as well as by these Articles.

3. Art. 3. Registered office.
3.1 The registered office of the Company is established in the municipality of Niederanven, Grand Duchy of Luxem-

bourg. It may be transferred to any other place within the Grand Duchy of Luxembourg by a resolution of the General
Meeting, deliberating in the manner provided for amendments to these Articles or by the General Partner if and to the
extent permitted by Luxembourg Law.

3.2 The General Partner shall further have the right to set up branches, offices, administrative centres and agencies

wherever it shall deem fit, either within or outside of Luxembourg.

3.3 Where the General Partner determines that extraordinary political or military developments or events have oc-

curred or are imminent and that these developments or events would interfere with the normal activities of the Company
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 extraordinary circumstances. Such tempo-
rary measures shall have no effect on the nationality of the Company which, notwithstanding the temporary transfer of
its registered office, will remain a corporate partnership limited by shares incorporated in Luxembourg.

4. Art. 4. Term of Company.
4.1 Subject to articles 4.2 to 4.3 below, the Company has been created for a limited duration and will be automatically

put into liquidation at the tenth (10

) anniversary of the Final Closing Date, or if earlier:

(a) the date on which all Investments have been disposed of or otherwise realised by the Company and the proceeds

of such disposals or realisations have been distributed to the Investors after the Investment Period has elapsed;

(b) the date on which Investors decide to terminate the Company by an Investors' Special Consent, subject to the

approval of the General Partner.

4.2 At any time before the tenth (10

) anniversary of the Final Closing Date, the General Partner may subject to an

Investors' Ordinary Consent resolve to extend the term of the Company for up to two (2) consecutive additional one-
year periods.

4.3 Any such extension shall be without prejudice to the possibility of earlier termination of the Company for any

reason specified in article 4.1 above.

52812

U X E M B O U R G

5. Art. 5. Corporate Purpose.
5.1 The exclusive purpose of the Company is to invest the funds available to it with the purpose of spreading investment

risks and affording its shareholders the results of its management.

5.2 The Company may take any measures and carry out any transaction, which it may deem useful for the fulfilment

and development of its purpose and may, in particular and without limitation:

(A) MAKE INVESTMENTS WHETHER DIRECTLY OR THROUGH DIRECT OR INDIRECT PARTICIPATIONS IN

SUBSIDIARIES OF THE COMPANY OR OTHER INVESTMENT HOLDING COMPANIES;

(B) BORROW MONEY IN ANY FORM OR OBTAIN ANY FORM OF CREDIT FACILITY IN ACCORDANCE WITH

THE MEMORANDUM;

TED DIRECTLY OR INDIRECTLY TO THE COMPANY;

(D) ENTER INTO ANY GUARANTEE, PLEDGE OR ANY OTHER FORM OF SECURITY, WHETHER BY PERSONAL

COVENANT OR BY MORTGAGE OR CHARGE UPON ALL OR PART OF THE ASSETS (PRESENT OR FUTURE) OF
THE COMPANY OR BY ALL OR ANY OF SUCH METHODS, FOR THE PERFORMANCE OF ANY CONTRACTS OR
OBLIGATIONS OF THE COMPANY, OR ANY DIRECTOR, MANAGER OR OTHER AGENT OF THE COMPANY,
OR ANY COMPANY IN WHICH THE FUND OR ITS PARENT COMPANY HAS A DIRECT OR INDIRECT INTEREST,
OR ANY COMPANY BEING A DIRECT OR INDIRECT SHAREHOLDER OF THE COMPANY OR ANY COMPANY
BELONGING TO THE SAME GROUP AS THE COMPANY;

to the fullest extent permitted under the 2007 Act but in any case subject to the terms and limits set out in the

Memorandum.

6. Art. 6. Share capital and classes and series of shares.
6.1 The share capital of the Company shall be represented by fully paid Shares of no par value and shall at all times be

equal to the Net Asset Value of the Company. The Company's share capital is automatically adjusted when additional
Shares are issued or outstanding Shares are redeemed.

6.2 The capital, including the share premium, must reach one million two hundred and fifty thousand Euros (EUR

1,250,000) within twelve (12) months of the date on which the Company was registered as an investment company with
variable capital - specialised investment fund (SICAV-FIS) under the 2007 Act on the official list of SICAV-FIS.

6.3 At the incorporation of the Company, the initial capital is set at thirty-one thousand Euros (EUR 31,000) repre-

sented by 30,999 fully paid up Ordinary Shares with no par value and one (1) GP Share with no par value.

6.4 The share capital of the Company shall be represented by the following classes of Shares (the Classes or individually

a Class) and as the case may be, of the different Series:

(A) THE GP SHARE, RESERVED FOR SUBSCRIPTION AND HOLDING BY THE GENERAL PARTNER AS UNLI-

MITED SHAREHOLDER (ACTIONNAIRE GÉRANT COMMANDITÉ) OF THE COMPANY. THE COMPANY WILL
ISSUE ONE (1) SINGLE GP SHARE; AND

(B) ORDINARY SHARES OF CLASS A
(I) ARE RESERVED FOR SUBSCRIPTION BY LIMITED SHAREHOLDERS UPON THE EXPLICIT CONSENT OF THE

GENERAL PARTNER ONLY;

(II) ENTITLE ITS HOLDERS TO RECEIVE, AMONGST OTHERS, THE CARRIED INTEREST AS DETERMINED IN

ARTICLE 28.7(D);

(III) WILL RECEIVE PAYMENTS ONLY OUT OF THE OTHER ACCOUNTS;
(IV) ARE NOT ENTITLED TO BENEFIT FROM THE INCOME; AND
(V) CAN BE REDEEMED BY THE COMPANY FOR THE PURPOSE OF DISTRIBUTING NET DISTRIBUTABLE CASH.
(C) ORDINARY SHARES OF CLASS B
(I) CAN BE SUBSCRIBED BY ANY INVESTOR WHO/WHICH IS NOT A RESTRICTED PERSON;
(II) ENTITLE ITS HOLDERS, AMONGST OTHERS, TO RECEIVE THE PREFERRED RETURN AS DETERMINED IN

ARTICLE 28.7(B);

(III) WILL RECEIVE PAYMENTS FIRST OUT OF THE INCOME ACCOUNT AND THEN OUT OF THE OTHER

ACCOUNTS; AND

(IV) CAN RECEIVE A DIVIDEND BY THE COMPANY FOR THE PURPOSE OF DISTRIBUTING NET DISTRIBU-

TABLE CASH.

6.5 Shares are exclusively reserved for Well-Informed Investors. The Company will not issue, or give effect to any

Transfer to any investor who/which is not a Well-Informed Investor and who/which is not a Restricted Person.

6.6 Shares of different Classes may differ, amongst others, in their fee structure, subscription and/or redemption

procedures, sales and redemption charge structures, minimum investment and/or subsequent holding requirements, dis-
tribution rights, shareholders servicing or other fees, type of target investors, transfer or ownership restrictions and
distribution policy applying to them in accordance with the Companies Act and the 2007 Act. The specific features of

52813

U X E M B O U R G

each Class will be as set forth in the Memorandum. A separate Net Asset Value per Share which may differ as a conse-
quence of these variable factors will be calculated for each Class of Shares.

6.7 The General Partner may create additional Classes whose features may differ from the existing Classes, in accor-

dance with, and subject to, the 2007 Act and the Companies Act. Upon creation of new Classes, the Memorandum will
be updated.

6.8 Shares of different Series have the same features but differ in relation to the moment of issue as further described

in the Memorandum.

6.9 The General Partner may create additional Series, in accordance with, and subject to, the 2007 Act and the

Companies Act.

7. Art. 7. Form of Shares.
7.1 Shares shall and will continue to be in the registered form (actions nominatives). Shares are not represented by

certificates.

7.2 All issued registered Shares shall be registered in the Register which shall be kept by the Company or by one or

more person(s) designated by the Company, and the Register (and the Shareholders' personal data contained therein)
will be available for inspection by any Shareholder. Such Register will contain the name of each owner of registered Shares,
his/her/its residence or elected domicile as indicated to the Company and the number and Class and Series held by him/
her/it and the Transfer of Shares and the dates of such transfers. The ownership of the Shares will be established by the
entry in this Register.

7.3 Each Shareholder shall provide the Company with an address, fax number and email address to which all notices

and announcements may be sent. Shareholders may, at any time, change their address as entered into the Register by
way of a written notification sent to the Company.

7.4 In the event that a Shareholder does not provide an address, the Company may permit a notice to this effect to

be entered into the Register and the Shareholder's address will be deemed to be at the registered office of the Company,
or such other address as may be so entered into the Register by the Company from time to time, until another address
shall be provided to the Company by such Shareholder.

7.5 The Company will recognise only one holder per Share. In case a Share is held by more than one person, the

Company has the right to suspend the exercise of all rights attached to that Share until one person has been appointed
as sole owner in relation to the Company. The same rule shall apply in the case of conflict between a usufruct holder
(usufruitier) and a bare owner (nu-propriétaire) or between a pledgor and a pledgee. Moreover, in the case of joint
shareholders, the Company reserves the right to pay any redemption proceeds, distributions or other payments to the
first registered holder only, whom the Company may consider to be the representative of all joint holders, or to all joint
shareholders together, at its absolute discretion.

7.6 Subject to the provisions of article 10, any Transfer may be effected by a written declaration of Transfer entered

in the Register, such declaration of Transfer to be executed by the transferor and the transferee or by persons holding
suitable powers of attorney or in accordance with the provisions applying to the transfer of claims provided for in article
1690 of the Luxembourg civil code. The Company may also accept as evidence of Transfer other instruments of Transfer
evidencing the consent of the transferor and the transferee satisfactory to the Company.

7.7 Payments of distributions, if any, will be made to Shareholders, in respect of registered Shares at their addresses

indicated in the Register in the manner prescribed by the General Partner from time to time.

7.8 With the exception of the GP Share, fractional Shares will be issued to the nearest hundredth (100

) of a Share,

and such fractional Shares will not be entitled to vote (except where their number is so that they represent a whole
Share, in which case they confer a voting right) but will be entitled to a participation in the net results and in the proceeds
of liquidation attributable to the relevant Class and Series, if any, on a pro rata basis.

8. Art. 8. Issue of shares.
8.1 The General Partner is authorised without limitation to issue an unlimited number of fully paid up Ordinary Shares

at any time in accordance with the terms of the Memorandum and these Articles (to the exclusion of any additional GP
Share) without reserving the existing Shareholders a preferential right to subscribe for the Shares to be issued.

8.2 Any conditions to which the issue of Shares may be submitted will be detailed in the Memorandum provided that

the General Partner may, without limitation:

(A) IMPOSE RESTRICTIONS ON THE FREQUENCY AT WHICH SHARES OF A RELEVANT CLASS ARE ISSUED

(AND, IN PARTICULAR, DECIDE THAT SHARES OF A RELEVANT CLASS WILL ONLY BE ISSUED DURING ONE
OR MORE OFFERING PERIODS OR AT SUCH OTHER INTERVALS AS PROVIDED FOR IN THE MEMORANDUM);

(B) DECIDE THAT SHARES OF A RELEVANT CLASS SHALL ONLY BE ISSUED TO PERSONS OR ENTITIES THAT

HAVE ENTERED INTO A SUBSCRIPTION AGREEMENT UNDER WHICH THE SUBSCRIBER UNDERTAKES,
AMONGST OTHERS, TO SUBSCRIBE FOR SHARES, DURING A SPECIFIED PERIOD, UP TO A CERTAIN AMOUNT
AND MAKES CERTAIN REPRESENTATIONS AND WARRANTIES TO THE COMPANY. AS FAR AS PERMITTED
UNDER LUXEMBOURG LAW, THE MEMORANDUM, ANY SUBSCRIPTION AGREEMENT MAY CONTAIN SPECIFIC
PROVISIONS NOT CONTAINED IN THE OTHER SUBSCRIPTION AGREEMENTS;

52814

U X E M B O U R G

OF SUCH SUBSCRIPTION DOCUMENTS AND THE PROVISION OF SUCH INFORMATION AS THE GENERAL
PARTNER MAY DETERMINE TO BE APPROPRIATE) AND FIX A MINIMUM SUBSCRIPTION, MINIMUM SUBSE-
QUENT SUBSCRIPTION AMOUNT, AND/OR A MINIMUM COMMITMENT OR HOLDING AMOUNT;

(D) DETERMINE ANY DEFAULT PROVISIONS ON NON OR LATE PAYMENT FOR SHARES OR RESTRICTIONS

ON OWNERSHIP IN RELATION TO THE SHARES;

(E) IN RESPECT OF ANY ONE GIVEN CLASS, LEVY A SUBSCRIPTION CHARGE AND HAS THE RIGHT TO

WAIVE PARTLY OR ENTIRELY THIS SUBSCRIPTION CHARGE;

(F) RESTRICT THE OWNERSHIP OF SHARES OF A PARTICULAR CLASS TO CERTAIN TYPE OF PERSONS OR

ENTITIES;

(G) DECIDES THAT PAYMENTS FOR SUBSCRIPTIONS TO SHARES SHALL BE MADE IN WHOLE OR IN PART

ON ONE OR MORE DEALING DATES, CLOSINGS OR DRAW DOWN DATES AT WHICH THE COMMITMENT
OF THE INVESTOR (AND, AS THE CASE MAY BE, ANY RELEVANT ADDITIONAL AMOUNT OR INTEREST) WILL
BE CALLED AGAINST ISSUE OF, OR IN SATISFACTION OF THE PAYMENT OBLIGATION FOR SHARES OF THE
RELEVANT CLASS.

8.3 Each Investor subscribing for Ordinary Shares will be required to enter into a Subscription Agreement irrevocably

committing to make subscriptions and payments for the Commitment and each Investor shall be required to make Capital
Contributions equal, in total, to his/her/its Commitment in consideration for the issuance of fully paid Ordinary Shares
by the Company in accordance with the terms of the Memorandum.

8.4 In addition, each Investor may be required to pay an actualisation interest (if any) and/or an equalisation fee payment

(if any) as described in the Memorandum. Such payment shall not be treated as part of an Investor's Commitment and
shall not be deemed Capital Contributions and shall therefore be payable on top of an Investor's Commitment.

8.5 The General Partner may, in its absolute discretion, accept or reject in whole or in part any Subscription Agreement

or request for subscription to Ordinary Shares.

8.6 Investors shall be proposed to commit to subscribe to Ordinary Shares on one or more dates or periods ending

on the Final Closing Date as determined by the General Partner and more fully described in the Memorandum. A process
determined by the General Partner and described in the Memorandum shall govern the chronology of the issue of Shares
in the Company.

8.7 After the First Closing and until the Final Closing Date, the General Partner may decide to organise one or more

subsequent closings (each a Subsequent Closing) at which new Investors are admitted or at which existing Investors may
increase their Commitments. The General Partner may confer the authority upon any of its members, any manager, of
or other duly authorised representative to accept subscription applications, to receive payments for newly issued Ordi-
nary Shares and to deliver these Ordinary Shares. The Final Closing Date is eighteen (18) months after the First Closing
Date, subject to the right of the General Partner to postpone the Final Closing Date for a maximum period of three (3)
months. Investors may be required to pay certain equalisation amount and/or actualisation amounts or interests on top
of their Commitment, in accordance with the Memorandum.

8.8 Payments for subscriptions to Ordinary Shares shall be made in whole or part on a Drawdown Date or on any

other date and under the terms and conditions as determined by the General Partner and as indicated and more fully
described in the Memorandum. The modes of payment and subscription price of the Shares in relation to such subscrip-
tions shall be determined by the General Partner and more fully described in the Memorandum. Distributions made (in
whatever form, including through redemptions of Share, as the case may be) of funds received by the Company attributable
to certain revenues, capital gains on or return on Investments may be available for further drawdown by the Company
(ie, may be recalled by the Company) and any such distribution may increase an Investor's Undrawn Commitment, in
accordance with and subject to the provisions set out in the Memorandum.

9. Art. 9. Failure to comply with a Drawdown notice.
9.1 If an Investor fails to pay to the Company the amount which is the subject of a Drawdown Notice on or before

the date of expiry of the Drawdown Notice then the General Partner may, at any time thereafter, give notice to this
Investor requiring it to remedy the default and to pay interest to the Company on the amount outstanding for the period
from the date of expiry of the Drawdown Notice up to the date of payment at a rate determined in the Memorandum
on or before the expiry of thirty (30) days from the date of such notice from the General Partner.

9.2 If the Investor has not remedied the default and paid all interest at the expiry of thirty (30) days from the date of

such notice, the General Partner may deem such Investor to be a Defaulting Investor.

9.3 The General Partner shall have the right (but shall not be required), without prejudice to any other rights the

General Partner or the Company may have (and so that interest as set out above shall continue accrue after such period
of thirty (30) days), at any time after the expiry of such period of thirty (30) days to do any of the following:

(A) TO CAUSE THE CAPITAL CONTRIBUTION OF THE DEFAULTING INVESTOR TO BE FORFEITED IN WHICH

EVENT:

(I) THE AMOUNT OF SUCH CAPITAL CONTRIBUTION SHALL CONTINUE TO FORM PART OF THE COM-

PANY'S ASSETS;

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U X E M B O U R G

(II) FOR THE PURPOSES OF THE DETERMINATION OF THE FEES AS DETERMINED IN THE MEMORANDUM,

THE TOTAL COMMITMENTS SHALL BE DEEMED TO HAVE BEEN REDUCED BY AN AMOUNT EQUAL TO THE
COMMITMENT OF THE DEFAULTING INVESTOR;

(III) THE GENERAL PARTNER SHALL BE ENTITLED TO DEDUCT AND RETAIN AN AMOUNT EQUAL TO ANY

COSTS OR EXPENSES (INCLUDING ANY TAXES) TO DEAL WITH THE DEFAULTING INVESTOR PLUS AN
AMOUNT EQUAL TO THE FEES THAT THE GENERAL PARTNER AND ANY AGENT AS DETERMINED IN THE
MEMORANDUM HAVE LOST PLUS ANY COSTS (INCLUDING INTEREST) INCURRED AS A RESULT OF ANY
BORROWINGS ENTERED INTO BY THE COMPANY TO COVER ANY SHORTFALL AS A RESULT OF THE AC-
TIONS OF THE DEFAULTING INVESTOR;

(IV) SUCH DEFAULTING INVESTOR SHALL CEASE TO BE A SHAREHOLDER FOR ALL PURPOSES AS AT THE

DATE THAT THE CAPITAL CONTRIBUTION OF SUCH DEFAULTING INVESTOR IS FORFEITED AS PROVIDED
ABOVE; AND/OR

(B) TO OFFER THE WHOLE OR PART OF THE SHARES OF THE DEFAULTING INVESTOR TO SUCH PERSON

AS THE GENERAL PARTNER SHALL DETERMINE (THE PURCHASER) FOR SUCH PRICE AS MAY BE DETERMINED
BY THE GENERAL PARTNER. IN SETTING THIS PRICE, THE GENERAL PARTNER SHALL ACT WITH REGARD TO
THE INTERESTS OF THE COMPANY AND TO THE INVESTORS OTHER THAN THE DEFAULTING INVESTOR (THE
NON-DEFAULTING INVESTORS). NOTWITHSTANDING THE ABOVE, THE GENERAL PARTNER SHALL MAKE
REASONABLE EFFORTS TO OFFER THE DEFAULTING INVESTOR'S SHARES TO NON-DEFAULTING INVESTORS.
IN THE ABSENCE OF FRAUD, NEITHER THE GENERAL PARTNER, NOR A MANAGER SHALL BE LIABLE TO THE
DEFAULTING INVESTOR WHOSE SHARES IS BEING TRANSFERRED, OR TO A NON-DEFAULTING INVESTOR
PURCHASING THE SHARES PURSUANT TO THIS ARTICLE. THE GENERAL PARTNER SHALL BE CONSTITUTED
THE AGENT FOR THE SALE OF THE DEFAULTING INVESTOR'S SHARES AND EACH OF THE INVESTORS HEREBY
IRREVOCABLY APPOINTS THE GENERAL PARTNER AS THEIR TRUE AND LAWFUL ATTORNEY TO EXECUTE
ANY DOCUMENTS REQUIRED IN CONNECTION WITH THE TRANSFER OF THE DEFAULTING INVESTOR'S
SHARES IF THEY SHALL BECOME A DEFAULTING INVESTOR AND EACH SUCH INVESTOR UNDERTAKES TO
RATIFY WHATEVER THE GENERAL PARTNER SHALL LAWFULLY DO PURSUANT TO SUCH POWER OF AT-
TORNEY AND TO KEEP THE GENERAL PARTNER OR ANY OF ITS MANAGERS INDEMNIFIED AGAINST ANY
CLAIMS, COSTS AND EXPENSES WHICH THE GENERAL PARTNER OR ANY OF ITS MANAGERS MAY SUFFER AS
A RESULT THEREOF. THE RECEIPT BY THE GENERAL PARTNER OR OF THE COMPANY OF THE SALE PROCEEDS
SHALL CONSTITUTE A GOOD AND VALID DISCHARGE TO THE PURCHASER OF THE DEFAULTING INVES-
TOR'S INTEREST. THE GENERAL PARTNER SHALL NOT BE REQUIRED TO PAY THE PURCHASE MONEY TO THE
DEFAULTING INVESTOR UNTIL THE DEFAULTING INVESTOR HAS DELIVERED ANY AND ALL DOCUMENTS
OF TITLE AS MAY BE REQUIRED BY THE GENERAL PARTNER IN RESPECT OF THE TRANSFER OF THE SHARES
AND CONFIRMATION THAT THE DEFAULTING INVESTOR HAS NO CLAIMS AGAINST THE GENERAL PART-
NER, ANY OF ITS MANAGERS OR THE COMPANY. THE PURCHASER SHALL, ON COMPLETION OF THE
TRANSFER, BE TREATED AS A SUBSTITUTE INVESTOR; OR

GATIONS OF THE DEFAULTING INVESTOR TO MAKE PAYMENT OF ANY SUMS REQUIRED PURSUANT TO ITS
COMMITMENT.

9.4 Pending the General Partner exercising its discretion pursuant to articles 9.3(a), 9.3(b) and 9.3(c) above, the General

Partner shall be entitled to suspend indefinitely the right of the Defaulting Investor to receive any distributions from the
Company.

10. Art. 10. Transfer of Shares/Undrawn commitments.
Transfer of the GP Share
10.1 The General Partner shall not sell, assign, transfer, exchange, pledge, encumber or otherwise dispose of all or

any part of its rights and obligations as a general partner or voluntarily withdraw as the general partner of the Company
without the approval of Investors by an Investors' Special Consent followed by a General Meeting deliberating in the
manner provided for amendments to these Articles.

Transfer of Ordinary Shares/Undrawn Commitments
10.2 No sale, assignment, transfer, exchange, pledge, encumbrance or other disposition (including the granting of any

participation) (each a Transfer) of all or any part of any Ordinary Share by any Shareholder, whether direct or indirect,
voluntary or involuntary (including, without limitation, to an Associate or by operation of law), to a Well-Informed Investor
shall be valid or effective except:

(A) WITH THE PRIOR WRITTEN CONSENT OF THE GENERAL PARTNER WHICH CONSENT CAN BE GIVEN

OR WITHHELD IN ITS SOLE AND ABSOLUTE DISCRETION FOR ANY REASON WHATSOEVER SUCH CONSENT
NOT TO BE UNREASONABLY WITHHELD OR DELAYED; AND

(I) THE TRANSFEREE (THE SUBSTITUTE INVESTOR) REPRESENTS IN A FORM ACCEPTABLE TO THE GENERAL

PARTNER THAT SUCH TRANSFEREE IS NOT A RESTRICTED PERSON, AND THAT THE PROPOSED TRANSFER

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U X E M B O U R G

ITSELF DOES NOT VIOLATE ANY LAWS OR REGULATIONS (INCLUDING, WITHOUT LIMITATION, ANY SECU-
RITIES LAWS) APPLICABLE TO IT;

(II) THE SUBSTITUTE INVESTOR ENTERS INTO A SUBSCRIPTION AGREEMENT;
(III) (UNLESS OTHERWISE AGREED WITH THE GENERAL PARTNER) THE SUBSTITUTE INVESTOR UNDER-

TAKES  TO  FULLY  AND  COMPLETELY  ASSUME  ALL  OUTSTANDING  OBLIGATIONS  OF  THE  TRANSFEROR
TOWARDS  THE  COMPANY  UNDER  THE  TRANSFEROR'S  SUBSCRIPTION  AGREEMENT  SETTING  OUT  THE
TERMS OF THE PARTICIPATION OF THE TRANSFEROR IN THE COMPANY (INCLUDING, FOR THE AVOIDANCE
OF  DOUBT,  THE  PROVISIONS  OF  THE  MEMORANDUM)  AND  THAT,  IN  RESPECT  OF  TRANSFERS  OF  UN-
DRAWN COMMITMENTS, THE GENERAL PARTNER BE SATISFIED THAT THE TRANSFEREE HAS SUFFICIENT
ASSETS TO COMPLY WITH DRAWDOWN NOTICES IN RESPECT OF SUCH UNDRAWN COMMITMENT;

(IV) THE SUBSTITUTE INVESTOR IS NOT A RESTRICTED PERSON, AND
(B) WHERE NONE OF THE FOLLOWING APPLIES:
(I) THE TRANSFER WOULD RESULT IN:
(1) a violation of any law or regulation of Luxembourg or any other jurisdiction (including the United States Federal

or State securities law);

(2) a violation of these Articles, the Memorandum or any contractual arrangement of the Company;
(3) a violation of any constitutive document or contractual arrangement of a Parallel Fund; or
(4) any other adverse tax, legal or regulatory consequences as determined by the Company;
(II) AS A RESULT OF SUCH TRANSFER, THE COMPANY OR ANY PARALLEL FUND WOULD BE REQUIRED TO

(III) SUCH TRANSFER WOULD RESULT IN THE ASSETS OF THE COMPANY OR ANY PARALLEL FUND BEING

TREATED AS “PLAN ASSETS” UNDER THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT
(ERISA);

(IV) SUCH TRANSFER WOULD CAUSE THE COMPANY OR ANY PARALLEL FUND TO BE DISQUALIFIED OR

TERMINATED (INCLUDING FOR APPLICABLE TAX PURPOSES) IF SUCH TERMINATION WOULD RESULT IN
MATERIAL ADVERSE TAX CONSEQUENCES TO THE SHAREHOLDERS OR THE INVESTORS OF ANY PARALLEL
FUND;

(V) SUCH TRANSFER WOULD REQUIRE THE SHAREHOLDING IN THE COMPANY OR THE INTEREST IN A

PARALLEL FUND TO BE SUBDIVIDED FOR PURPOSES OF RESALE INTO UNITS SMALLER THAN A UNIT COSTING
AS CONSIDERED BY THE GENERAL PARTNER;

(VI) SUCH TRANSFER WOULD CAUSE THE COMPANY OR ANY PARALLEL FUND TO BE CLASSIFIED AS AN

ASSOCIATION TAXABLE AS A CORPORATION FOR UNITED STATES FEDERAL INCOME TAX PURPOSES;

(VII) SUCH TRANSFER WOULD CONSTITUTE A TRANSACTION EFFECTED THROUGH AN “ESTABLISHED

SECURITIES MARKET” WITHIN THE MEANING OF THE UNITED STATES TREASURY REGULATIONS PROMUL-
GATED UNDER SECTION 7704 OF THE CODE OR OTHERWISE WOULD CAUSE THE COMPANY OR ANY
PARALLEL FUND TO BE A “PUBLICLY TRADED PARTNERSHIP” WITHIN THE MEANING OF SECTION 7704 OF
THE CODE, OR WOULD CAUSE THERE TO BE MORE THAN 100 SHAREHOLDERS OR 100 INVESTORS OF ANY
PARALLEL FUND (AS DETERMINED UNDER THE TREASURY REGULATIONS PROMULGATED UNDER SECTION
7704 OF THE CODE) WHEREBY FOR THE PURPOSES OF DETERMINING THIS NUMBER OF SHAREHOLDERS OR
INVESTORS, A PERSON (THE BENEFICIAL OWNER) OWNING SHARED OR INTERESTS IN ANY PARALLEL FUND,
GRANTOR TRUST OR S CORPORATION FOR UNITED STATES FEDERAL INCOME TAX PURPOSES (A FLOW-
THROUGH ENTITY) THAT OWNS DIRECTLY, OR THROUGH OTHER FLOW-THROUGH ENTITIES, SHARES OR
INTERESTS, IS TREATED AS A SHAREHOLDER OR INVESTOR IF (I) SUBSTANTIALLY ALL OF THE VALUE OF THE
BENEFICIAL OWNER'S SHARES OR INTERESTS IN THE FLOW-THROUGH ENTITY IS ATTRIBUTABLE TO THE
FLOW-THROUGH ENTITY'S DIRECT OR INDIRECT INTEREST IN THE COMPANY OR ANY PARALLEL FUND
AND (II) A PRINCIPAL PURPOSE IN USING THE TIERED ARRANGEMENT IS TO PERMIT THE COMPANY OR ANY
PARALLEL FUND TO HAVE NOT MORE THAN 100 SHAREHOLDERS OR 100 INVESTORS.

10.3 For the purposes of determining whether any proposed Transfer breaches any provision of this article, the General

Partner is entitled to require, as a condition of registering any Transfer or giving consent to any Transfer, that any proposed
Substitute Investor either (at the General Partner's discretion) provide to the General Partner an opinion of counsel
(such counsel and opinion to be in a form reasonably satisfactory to the General Partner) or a certificate of an authorised
officer of the proposed Substitute Investor that the proposed Transfer does not breach any of the provisions of this
article. The General Partner is entitled to rely on such opinion or certificate for the purposes of determining whether
any proposed Transfer breaches any of the provisions of these Articles or the Memorandum.

10.4 Each Substitute Investor shall be bound by these Articles and the terms of the Memorandum, as a condition of

registering any Transfer or giving its consent to any Transfer to be made in accordance with the provisions of this article,
the General Partner shall require (and the transferring Investor shall take all necessary steps to ensure) that the proposed
Substitute Investor acknowledges, in such written form as may be required by the General Partner, its assumption (in
whole or, if the substitution is in respect of part only, in the proportionate part) of the obligations of the transferring

52817

U X E M B O U R G

Shareholder by agreeing to be bound by these Articles and the terms of the Memorandum and becoming a Shareholder
and undertakes to indemnify the Company and the General Partner in respect of any liabilities, obligations, legal costs,
taxes and expenses associated with or arising directly or indirectly as a result of such Transfer.

10.5 The Substitute Investor shall not become a Shareholder and none of the Company or the General Partner shall

incur any liability to any person for allocations and distributions made in good faith to the transferring Investor until:

(I) THE WRITTEN INSTRUMENT OF TRANSFER HAS BEEN RECEIVED BY THE COMPANY AND RECORDED

IN ITS REGISTER AND THE EFFECTIVE DATE OF THE TRANSFER HAS PASSED; AND

(II) THE GENERAL PARTNER HAS CONFIRMED THAT THE PROPOSED TRANSFEREE HAS, IN THE GENERAL

PARTNER'S VIEW, SUPPLIED THE NECESSARY INFORMATION TO ALLOW IT TO COMPLY WITH ANY APPLI-
CABLE ANTI-MONEY LAUNDERING REQUIREMENTS RELATING TO THE ADMISSION OF THE PROPOSED
TRANSFEREE AS A SHAREHOLDER.

10.6 Provided that the Substitute Investor has acknowledged its assumption of the obligations of the transferring

Shareholder, the General Partner shall, be authorised - but shall not be obliged - to release any Shareholder who/which
is making a Transfer for any future obligation in respect of the Share which is the subject of such Transfer.

10.7 No transfer of an Ordinary Share in violation of this article shall be valid or effective, and the Company shall not

recognise the same, for the purposes of making distributions of Income Proceeds or Capital Proceeds or otherwise.

10.8 Except as provided in this article 10, no Shareholder has the right to transfer its Ordinary Shares and/or its

Undrawn Commitments.

11. Art. 11. Redemption of Shares.
11.1 The Company is a closed-ended investment company. Investors are not entitled to request redemption of their

Shares.

11.2 Ordinary Shares of any Class and Series, if any, may be redeemed at the option of the General Partner on a pro

rata basis among Shareholders, in order to distribute proceeds generated by an investment through returns or its disposal
subject to compliance with the relevant distribution scheme (and as the case may be, subject to compliance with the
relevant re-investment rights) as provided in the Memorandum. The Company will announce in due time the redemption
by way of mail addressed to the Shareholders by the General Partner.

11.3 The Company may compulsory redeem Ordinary Shares:
(A) HELD BY A RESTRICTED PERSON IN ACCORDANCE WITH ARTICLE 13;
(B) IN CASE OF ADMISSION OF SUBSEQUENT INVESTORS AT SUBSEQUENT CLOSINGS IN ORDER TO

EQUALISE PREVIOUS AND SUBSEQUENT INVESTORS IN ACCORDANCE WITH THE TERMS AND CONDITIONS
OF THE MEMORANDUM;

(C) HELD BY A DEFAULTING INVESTOR IN ACCORDANCE WITH ARTICLE 9;
(D) TO DISTRIBUTE NET DISTRIBUTABLE CASH TO SHAREHOLDERS IN ACCORDANCE WITH THE MEMO-

RANDUM;

(E) IN ALL OTHER CIRCUMSTANCES, IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET OUT IN

THE RELEVANT SUBSCRIPTION AGREEMENT, THE MEMORANDUM AND/OR THESE ARTICLES.

11.4 The repurchase by the Company of its own Shares in circumstances other than those referred to in this article

shall take place by virtue of a resolution of and on the terms and conditions to be decided upon by the General Meeting
deliberating in the manner provided for amendments to these Articles.

11.5 All redeemed Shares will be cancelled.

12. Art. 12. Conversion of shares. Except as otherwise stated in the Memorandum, Investors are not allowed to

convert all, or part, of the Shares of a relevant Class or Series into Shares of another Class.

13. Art. 13. Restriction on ownership of Shares.
13.1 The Company may restrict or prevent the ownership of Shares by any individual or other entity,
(A) IF IN THE OPINION OF THE COMPANY SUCH HOLDING MAY BE DETRIMENTAL TO THE COMPANY;
(B) IF IT MAY RESULT (EITHER INDIVIDUALLY OR IN CONJUNCTION WITH OTHER INVESTORS IN THE SAME

CIRCUMSTANCES) IN:

(I) THE COMPANY, THE GENERAL PARTNER OR ANY OF THEIR RESPECTIVE AFFILIATES OR ANY INVEST-

MENT OR POTENTIAL INVESTMENT OF THE COMPANY TO VIOLATE ANY LAW OR REGULATION OR COULD
RESULT IN THE COMPANY, THE GENERAL PARTNER OR ANY OF THEIR RESPECTIVE AFFILIATES OR ANY IN-
VESTMENT OR POTENTIAL INVESTMENT OF THE COMPANY SUFFERING MATERIAL TAXATION OR OTHER
PECUNIARY OR FISCAL DISADVANTAGES WHICH THEY MAY NOT HAVE SUFFERED HAD SUCH PERSON CEA-
SED TO BE AN INVESTOR,

(II) THE COMPANY BEING SUBJECT TO THE ERISA; OR
(III) THE COMPANY BEING REQUIRED TO REGISTER ITS SHARES UNDER THE LAWS OF ANY JURISDICTION

OTHER THAN LUXEMBOURG (INCLUDING, WITHOUT LIMITATION, THE UNITED STATES SECURITIES ACT
OR THE UNITED STATES INVESTMENT COMPANY ACT); OR

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U X E M B O U R G

VIDUAL OR ENTITY ITSELF OR THE COMPANY, WHETHER LUXEMBOURG LAW OR OTHER LAW (INCLUDING
ANTI-MONEY LAUNDERING AND TERRORISM FINANCING LAWS AND REGULATIONS);

(D) IF AS A RESULT THEREOF THE COMPANY MAY BECOME EXPOSED TO TAX DISADVANTAGES OR OTHER

FINANCIAL DISADVANTAGES THAT IT WOULD NOT HAVE OTHERWISE INCURRED;

(such individual or legal entities are to be determined by the General Partner and are defined herein as Restricted

Persons). A person or entity that does not qualify as a Wen-Informed Investor shall be regarded as a Restricted Person.

13.2 For such purposes the Company may:
(A) DECLINE TO ISSUE ANY ORDINARY SHARES AND DECLINE TO REGISTER ANY TRANSFER, WHERE SUCH

REGISTRATION OR TRANSFER WOULD RESULT IN LEGAL OR BENEFICIAL OWNERSHIP OF ORDINARY SHARES
OR UNDRAWN COMMITMENT BY A RESTRICTED PERSON; AND

(B) AT ANY TIME REQUIRE ANY PERSON WHOSE Name IS ENTERED IN THE REGISTER OR OF (UNDRAWN)

COMMITMENTS OR WHO SEEKS TO REGISTER A TRANSFER IN THE REGISTER OR OF (UNDRAWN) COMMIT-
MENTS TO DELIVER TO THE COMPANY ANY INFORMATION, SUPPORTED BY AFFIDAVIT, WHICH IT MAY
CONSIDER NECESSARY FOR THE PURPOSE OF DETERMINING WHETHER OR NOT BENEFICIAL OWNERSHIP
OF SUCH INVESTOR'S ORDINARY SHARES/(UNDRAWN) COMMITMENT RESTS WITH A RESTRICTED PERSON,
OR WHETHER SUCH REGISTRATION WILL RESULT IN BENEFICIAL OWNERSHIP OF SUCH ORDINARY SHARES/
(UNDRAWN) COMMITMENT BY A RESTRICTED PERSON.

13.3 If it appears that a Shareholder is a Restricted Person, the Company shall be entitled to, in its absolute discretion:
(A) DECLINE TO ACCEPT THE VOTE OF THE RESTRICTED PERSON AT THE GENERAL MEETING AND DIS-

REGARD ITS VOTE ON ANY MATTER REQUIRING AN INVESTORS' SPECIAL CONSENT, AN INVESTORS'
ORDINARY CONSENT; AND/OR

(B) RETAIN ALL DIVIDENDS PAID OR OTHER SUMS DISTRIBUTED WITH REGARD TO THE ORDINARY SHA-

RES HELD BY THE RESTRICTED PERSON; AND/OR

TO THE COMPANY THAT THIS SALE WAS MADE WITHIN THIRTY (30) CALENDAR DAYS OF THE SENDING
OF THE RELEVANT NOTICE, SUBJECT EACH TIME TO THE APPLICABLE RESTRICTIONS ON TRANSFER; AND/
OR

(D) REDUCE OR TERMINATE THE RESTRICTED PERSON'S UNDRAWN COMMITMENT; AND/OR
(E) COMPULSORILY REDEEM ALL ORDINARY SHARES HELD BY THE RESTRICTED PERSON AT A PRICE BASED

ON THE LATEST CALCULATED NET ASSET VALUE, LESS A PENALTY FEE EQUAL TO, IN THE ABSOLUTE DIS-
CRETION OF THE GENERAL PARTNER, EITHER (I) 75% OF THE APPLICABLE PRICE OR (II) THE COSTS INCURRED
BY THE COMPANY AS A RESULT OF THE HOLDING OF ORDINARY SHARES BY THE RESTRICTED PERSON
(INCLUDING ALL Costs LINKED TO THE COMPULSORY REDEMPTION).

13.4 The exercise of the powers by the Company in accordance with this article may in no way be called into question

or declared invalid on the grounds that the ownership of Shares was not sufficiently proven or that the actual ownership
of Shares did not correspond to the assumptions made by the Company on the date of the purchase notification, provided
that the Company exercised the above-named powers in good faith.

14. Art. 14. Determination of the Net Asset Value.
14.1 The Company, each Class and each Series, if any, have a Net Asset Value determined in accordance with Lu-

xembourg Law, Lux GAAP, subject to adjustments for deferred tax liabilities, formation expenses and acquisition costs
and any other adjustments required to ensure that investors are treated fairly and in accordance with these Articles. The
reference currency of the Company is the EUR.

14.2 The Net Asset Value shall be calculated in EUR in good faith in Luxembourg as of each Valuation Date.
14.3 The Administrative Agent shall under the supervision of the General Partner compute the Net Asset Value per

Class/Series as follows: each Class/Series participates in the Company according to the portfolio and distribution entit-
lements attributable to each such Class/Series. The value of the total portfolio and distribution entitlements attributed
to a particular Class/Series on a given Valuation Date adjusted with the liabilities relating to that Class/Series on that
Valuation Date represents the total Net Asset Value attributable to that Class/Series on that Valuation Date. A separate
Net Asset Value per Share/Series, which may differ as consequence of these variable factors, will be calculated for each
Class/Series as follows: the Net Asset Value per Share of that Class/Series on that Valuation Date divided by the total
number of Shares of that Class/Series then outstanding on that Valuation Date.

14.4 The Net Asset Value of the Company will result from the difference between the gross assets (including the

market value of Investments owned by the Company and its intermediary companies) and the liabilities of the Company,
provided that

(A) THE EQUITY OR LIABILITY INTERESTS ATTRIBUTABLE TO SHAREHOLDERS DERIVED FROM THESE FI-

NANCIAL STATEMENTS SHALL BE ADJUSTED TO TAKE INTO ACCOUNT THE FAIR VALUE OF DEFERRED TAX
LIABILITIES AS DETERMINED BY THE COMPANY IN ACCORDANCE WITH ITS INTERNAL RULES;

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U X E M B O U R G

(B) THE ACQUISITION Costs FOR INVESTMENTS SHALL BE AMORTISED OVER THE PLANNED STRATEGIC

INVESTMENT PERIOD OF EACH OF SUCH INVESTMENT OR FOR A MAXIMUM PERIOD OF FIVE (5) YEARS RA-
THER THAN EXPENSED IN FULL WHEN THEY ARE INCURRED; AND

A MAXIMUM PERIOD OF FIVE (5) YEARS RATHER THAN EXPENSED IN FULL WHEN THEY ARE INCURRED.

14.5 The assets of the Company shall include:
(A) ALL INVESTMENTS REGISTERED IN THE NAME OF THE COMPANY;
(B) ALL CASH IN HAND OR ON DEPOSIT, INCLUDING ANY INTEREST ACCRUED THEREON;
(C) ALL BILLS AND DEMAND NOTES PAYABLE AND ACCOUNTS RECEIVABLE;
(D) ALL BONDS, TIME NOTES, CERTIFICATES OF DEPOSIT, SHARES, STOCK, DEBENTURES, DEBENTURE

STOCKS, SUBSCRIPTION RIGHTS, WARRANTS, OPTIONS AND OTHER SECURITIES, FINANCIAL INSTRUMENTS
AND SIMILAR ASSETS OWNED OR CONTRACTED FOR BY THE COMPANY;

(E) ALL STOCK DIVIDENDS, CASH DIVIDENDS AND CASH PAYMENTS RECEIVABLE BY THE COMPANY TO

THE EXTENT INFORMATION THEREON IS REASONABLY AVAILABLE TO THE COMPANY OR THE DEPOSITARY;

(F) ALL INTEREST ACCRUED ON ANY INTEREST-BEARING ASSETS OWNED BY THE COMPANY EXCEPT TO

THE EXTENT THAT THE SAME IS INCLUDED OR REFLECTED IN THE VALUE ATTRIBUTED TO SUCH ASSET;

(G) ALL OTHER ASSETS OF ANY KIND AND NATURE INCLUDING Expenses PAID IN ADVANCE.
14.6 The value of the assets of the Company will be determined as follows in a consistent way:
(A) THE VALUE OF ANY CASH IN HAND OR ON DEPOSIT, BILLS AND 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 IT IS UNLIKELY TO
BE RECEIVED IN WHICH CASE THE VALUE THEREOF SHALL BE ARRIVED AT AFTER MAKING SUCH DISCOUNT
AS THE COMPANY MAY CONSIDER APPROPRIATE IN SUCH CASE TO REFLECT THE TRUE VALUE THEREOF;

(B) ANY TRANSFERABLE SECURITY AND ANY MONEY MARKET INSTRUMENT NEGOTIATED OR LISTED ON

A STOCK EXCHANGE OR ANY OTHER ORGANISED MARKET WILL BE VALUED ON THE BASIS OF THE LAST
KNOWN PRICE, UNLESS THIS PRICE IS NOT REPRESENTATIVE, IN WHICH CASE THE VALUE OF SUCH ASSET
WILL BE DETERMINED ON THE BASIS OF ITS FAIR VALUE ESTIMATED BY THE COMPANY WITH GOOD FAITH;

BE ESTIMATED WITH DUE CARE AND IN GOOD FAITH, IN ACCORDANCE WITH THE GUIDELINES AND PRIN-
CIPLES FOR VALUATION OF PORTFOLIO COMPANIES SET OUT BY INTERNATIONAL PRIVATE EQUITY AND
VENTURE CAPITAL VALUATION GUIDELINES, PUBLISHED BY THE EUROPEAN VENTURE CAPITAL ASSOCIA-
TION (EVCA), THE BRITISH VENTURE CAPITAL ASSOCIATION (BVCA) AND THE FRENCH VENTURE CAPITAL
ASSOCIATION (AFIC) IN MARCH 2005, AS MAY BE AMENDED FROM TIME TO TIME;

(D) IF THE PRICE AS DETERMINED ABOVE IS NOT REPRESENTATIVE, AND IN RESPECT OF ANY ASSETS

WHICH ARE NOT REFERRED TO ABOVE, THE VALUE OF SUCH ASSETS WILL BE DETERMINED BY THE ADMI-
NISTRATIVE AGENT UNDER THE SUPERVISION OF THE GENERAL PARTNER IN GOOD FAITH IN ACCORDAN-
CE WITH LUX GAAP.

14.7 The liabilities of the Company shall be deemed to include:
(A) ALL BORROWINGS, BILLS AND OTHER AMOUNTS DUE;
(B) ALL ADMINISTRATIVE EXPENSES DUE OR ACCRUED INCLUDING BUT NOT LIMITED TO THE COSTS OF

ITS CONSTITUTION AND REGISTRATION WITH REGULATORY AUTHORITIES, AS WELL AS LEGAL, AUDIT,
MANAGEMENT, CUSTODIAL, PAYING AGENCY AND CORPORATE AND CENTRAL ADMINISTRATION AGEN-
CY FEES AND EXPENSES, THE COSTS OF LEGAL PUBLICATIONS, PROSPECTUSES, FINANCIAL REPORTS AND
OTHER DOCUMENTS MADE AVAILABLE TO SHAREHOLDERS, TRANSLATION EXPENSES AND GENERALLY
ANY OTHER EXPENSES ARISING FROM THE ADMINISTRATION OF THE COMPANY, UNLESS OTHERWISE PRO-
VIDED IN THE MEMORANDUM;

GATIONS FOR PAYMENTS OF MONEY OR PROPERTY, INCLUDING THE AMOUNT OF ALL DIVIDENDS DE-
CLARED BY THE COMPANY FOR WHICH NO COUPONS HAVE BEEN PRESENTED AND WHICH THEREFORE
REMAIN UNPAID UNTIL THE DAY THESE DIVIDENDS REVERT TO THE COMPANY BY PRESCRIPTION;

(D) ANY APPROPRIATE AMOUNT SET ASIDE FOR TAXES DUE ON THE VALUATION DATE AND ANY OTHER

PROVISIONS OF RESERVES AUTHORISED AND APPROVED BY THE COMPANY; AND

(E) ANY OTHER LIABILITIES OF THE COMPANY OF WHATEVER KIND AND NATURE TOWARDS THIRD

PARTIES REFLECTED IN ACCORDANCE WITH LUXEMBOURG LAW.

14.8 In determining the amount of such liabilities the Company shall take into account all expenses payable by the

Company and may accrue administrative and other expenses of a regular or recurring nature based on an estimated
amount rateably for yearly or other periods. In addition, the Company may accrue in its account as reserves any amounts
which, in the General Partner's absolute discretion, should be retained for the purposes of a reserve for expenses,

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underlying claims or other purposes in connection with investments or matters in respect of which the Company is
committed to investment including an appropriate provision for current taxes payable in the future based on the capital
and income to the Valuation Date, as determined from time to time by the General Partner or its delegate, as well as
such amount (if any) as the General Partner may consider to be an appropriate allowance in respect of any risks or
liabilities of the Company (ie, liabilities for past events which are definite as to their nature and are certain or probable
to occur and can be measured with reasonable accuracy, which might arise during the life of the Company and may include
potential liabilities arising from any disputes (such as with a buyer or a tax authority) or as a result of any warranty or
other similar arrangement arising as a result of a disposal of an investment), provided that for the avoidance of doubt, on
the basis that the assets are held for investment, it is not expected that such provision shall include any deferred taxation.

14.9 The assets and liabilities shall be allocated as follows:
(A) THE PROCEEDS TO BE RECEIVED FROM THE ISSUE OF SHARES OF ANY CLASS/SERIES SHALL BE APPLIED

IN THE BOOKS OF THE COMPANY TO THAT CLASS/SERIES AND SHALL INCREASE THE PROPORTION OF THE
NET ASSETS ATTRIBUTABLE TO THAT CLASS/SERIES;

(B) WHERE ANY ASSET IS DERIVED FROM ANOTHER ASSET, SUCH ASSET SHALL BE ATTRIBUTABLE IN THE

BOOKS OF THE COMPANY TO THE SAME CLASS/SERIES OR CLASSES/SERIES AS THE ASSET FROM WHICH IT IS
DERIVED AND ON EACH REVALUATION OF SUCH ASSET, THE INCREASE OR DECREASE IN VALUE SHALL BE
APPLIED TO THE RELEVANT CLASS/SERIES OR CLASSES/SERIES;

SERIES OR IN RELATION TO ANY ACTION TAKEN IN CONNECTION WITH AN ASSET OF A PARTICULAR
CLASS/SERIES, SUCH LIABILITY SHALL BE ALLOCATED TO THE RELEVANT CLASS/SERIES OR CLASSES/SERIES;

(D) IN THE CASE WHERE ANY ASSET OR LIABILITY OF THE COMPANY CANNOT BE CONSIDERED AS BEING

ATTRIBUTABLE TO A PARTICULAR CLASS/SERIES, SUCH ASSET OR LIABILITY SHALL BE ALLOCATED TO ALL
THE CLASSES/SERIES PRO RATA TO THEIR RESPECTIVE NET ASSET VALUES OR IN SUCH OTHER MANNER AS
DETERMINED BY THE COMPANY ACTING IN GOOD FAITH, PROVIDED THAT (I) WHERE ASSETS OF SEVERAL
CLASSES/SERIES ARE HELD IN ONE ACCOUNT AND/OR ARE CO-MANAGED AS A SEGREGATED POOL OF
ASSETS BY AN AGENT OF THE COMPANY, THE RESPECTIVE RIGHT OF EACH CLASS/SERIES SHALL CORRES-
POND TO THE PRORATED PORTION RESULTING FROM THE CONTRIBUTION OF THE RELEVANT CLASS/
SERIES TO THE RELEVANT ACCOUNT OR POOL, AND (II) SUCH RIGHT SHALL VARY IN ACCORDANCE WITH
THE CONTRIBUTIONS AND WITHDRAWALS MADE FOR THE ACCOUNT OF THE CLASS/SERIES, AS DESCRIBED
IN THE SALES MEMORANDUM;

(E) UPON THE PAYMENT OF DISTRIBUTIONS TO THE SHAREHOLDERS OF ANY CLASS/SERIES, THE NET

ASSET VALUE OF SUCH CLASS/SERIES SHALL BE REDUCED BY THE AMOUNT OF SUCH DISTRIBUTIONS.

14.10 For the purpose of this article:
(A) SHARES TO BE ISSUED BY THE COMPANY SHALL BE TREATED IN ISSUE AS FROM THE TIME SPECIFIED

BY THE GENERAL PARTNER ON THE VALUATION DATE WITH RESPECT TO WHICH SUCH VALUATION IS
MADE AND FROM SUCH TIME AND UNTIL RECEIVED BY THE COMPANY THE PRICE THEREFORE SHALL BE
DEEMED TO BE AN ASSET OF THE COMPANY;

(B) SHARES TO BE REDEEMED BY THE COMPANY (IF ANY) SHALL BE TREATED AS EXISTING AND TAKEN

INTO ACCOUNT UNTIL THE DATE FIXED FOR REDEMPTION, AND FROM SUCH TIME AND UNTIL PAID BY
THE COMPANY THE PRICE THEREFORE SHALL BE DEEMED TO BE A LIABILITY OF THE COMPANY;

THE REFERENCE CURRENCY SHALL BE VALUED AFTER TAKING INTO ACCOUNT THE MARKET RATE OR
RATES OF EXCHANGE IN FORCE AS OF THE VALUATION DATE; AND

(D) WHERE ON ANY VALUATION DATE THE COMPANY HAS CONTRACTED TO:
(I) PURCHASE ANY ASSET, THE VALUE OF THE CONSIDERATION TO BE PAID FOR SUCH ASSET SHALL BE

SHOWN AS A LIABILITY OF THE COMPANY AND THE VALUE OF THE ASSET TO BE ACQUIRED SHALL BE
SHOWN AS AN ASSET OF THE COMPANY;

(II) SELL ANY ASSET, THE VALUE OF THE CONSIDERATION TO BE RECEIVED FOR SUCH ASSET SHALL BE

SHOWN AS AN ASSET OF THE COMPANY AND THE ASSET TO BE DELIVERED BY THE COMPANY SHALL NOT
BE INCLUDED IN THE ASSETS OF THE COMPANY;

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 General Partner.

14.11 General rules
(A) ALL VALUATION REGULATIONS AND DETERMINATIONS SHALL BE INTERPRETED AND MADE IN AC-

CORDANCE WITH LUXEMBOURG LAW;

(B) WITHOUT PREJUDICE TO ARTICLES 14.6 AND 14.9 ALL ASSETS AND LIABILITIES OF THE COMPANY

SHALL BE VALUED BASED ON THE FAIR VALUE;

THE NET ASSET VALUE PER SHARE AND ARE NOT INTENDED TO AFFECT THE TREATMENT FOR ACCOUNT-

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U X E M B O U R G

ING OR LEGAL PURPOSES OF THE ASSETS AND LIABILITIES OF THE COMPANY OR ANY SHARES ISSUED BY
THE COMPANY;

(D) UNDRAWN COMMITMENT SHALL NOT BE CONSIDERED AS ASSETS OF THE COMPANY FOR THE PUR-

POSE OF THE CALCULATION OF THE NET ASSET VALUE;

(E) THE NET ASSET VALUE PER SHARE MAY BE ROUNDED UP OR DOWN TO THE NEAREST HUNDREDTH

(100

) SHARE OF THE CURRENCY IN WHICH THE NET ASSET VALUE OF THE RELEVANT SHARES IS CAL-

CULATED;

(F) THE NET ASSET VALUE PER SHARE WILL BE COMMUNICATED BY THE ADMINISTRATIVE AGENT TO THE

INVESTORS WITHOUT UNNECESSARY DELAY AND IS MADE AVAILABLE TO THE INVESTORS AT THE REGIS-
TERED OFFICE OF THE COMPANY AND AVAILABLE AT THE OFFICES OF THE ADMINISTRATIVE AGENT AS
SOON AS PRACTICABLE AFTER THE MOST RECENT VALUATION DATE.

14.12 The Company, 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 or liability of the Company under Lux GAAP. This method will then
be applied in a consistent way. The Administrative Agent can rely on such deviations as approved by the Company for
the purpose of the Net Asset Value calculation by

(A) VARIOUS PRICING SOURCES AVAILABLE ON THE MARKET SUCH AS PRICING AGENCIES (I.E., BLOOM-

BERG, REUTERS, ETC.) INDICATED BY THE GENERAL PARTNER;

(B) BROKERS, INTERMEDIARIES OR COUNTERPARTIES INDICATED BY THE GENERAL PARTNER; OR
(C) BY SPECIALISTS DULY AUTHORISED TO THAT EFFECT BY THE GENERAL PARTNER.
TO THIS END, THE COMPANY SHALL PROVIDE OR CAUSE ON A BEST EFFORT BASIS THE THIRD PARTY

PRICING SOURCES TO PROVIDE THE ADMINISTRATIVE AGENT WITH THE VALUATION OF ASSETS OF THE
COMPANY AND TO PROVIDE THE AUDITOR OF THE COMPANY WITH APPROPRIATE SUPPORTING EVIDENCE
REGARDING THE CORRECTNESS AND ACCURACY OF SUCH PRICING/VALUATION.

14.13 If one or more sources of quotation are not able to provide relevant valuations to the Administrative Agent or,

if for any reason, the value of any asset of the Company may not be determined as rapidly and accurately as required, the
General Partner may decide to suspend the Net Asset Value calculation and authorise the Administrative Agent not to
calculate the Net Asset Value and, consequently, not to determine subscription and redemption prices. The Administrative
Agent shall immediately inform the General Partner if such a situation arises. The General Partner shall be responsible
to notify or to instruct the Administrative Agent to notify the Shareholders of any such suspension as further described
in article 15 below.

14.14 All assets denominated in a currency other than the Reference Currency of the respective Class/Series shall be

converted at the rate determined in the Memorandum between the reference currency and the currency of denomination
as at each Valuation Date.

15. Art. 15. Temporary suspension of the calculation of the NAV.
15.1 The Company may at any time and from time to time suspend the determination of the Net Asset Value of Shares

and/or the issue of the Shares to subscribers in any of the following circumstances:

(A) WHEN, AS A RESULT OF POLITICAL, ECONOMIC, MILITARY OR MONETARY EVENTS OR ANY CIR-

CUMSTANCES OUTSIDE THE RESPONSIBILITY AND THE CONTROL OF THE COMPANY, DISPOSAL OF THE
ASSETS OF THE COMPANY IS NOT REASONABLY OR NORMALLY PRACTICABLE WITHOUT BEING SERIOUSLY
DETRIMENTAL TO THE INTERESTS OF THE SHAREHOLDERS; OR

(B) IN THE CASE OF A BREAKDOWN IN THE NORMAL MEANS OF COMMUNICATION USED FOR THE VA-

LUATION OF ANY INVESTMENT OF THE COMPANY OR IF, FOR ANY EXCEPTIONAL CIRCUMSTANCES, THE
VALUE OF ANY ASSET OF THE COMPANY MAY NOT BE DETERMINED AS RAPIDLY AND ACCURATELY AS
REQUIRED; OR

OF FUNDS, TRANSACTIONS ON BEHALF OF THE COMPANY ARE RENDERED IMPRACTICABLE OR IF PUR-
CHASES AND SALES OF THE COMPANY'S ASSETS CANNOT BE EFFECTED AT THE NORMAL RATES OF
EXCHANGE; OR

(D) WHEN THERE EXISTS IN THE OPINION OF THE GENERAL PARTNER A STATE OF AFFAIRS WHERE DIS-

POSAL OF THE COMPANY'S ASSETS, OR THE DETERMINATION OF THE NET ASSET VALUE OF THE SHARES,
WOULD NOT BE REASONABLY PRACTICABLE OR WOULD BE SERIOUSLY PREJUDICIAL TO THE NON-RE-
DEEMING SHAREHOLDERS; OR

(E) WHEN FOR ANY OTHER REASON, THE PRICES OF ANY INVESTMENTS OWNED BY THE COMPANY

CANNOT PROMPTLY OR ACCURATELY BE ASCERTAINED; OR

(F) IN ACCORDANCE WITH, AND IN THE CIRCUMSTANCES SET OUT UNDER ARTICLE 14.13; OR
(G) WHEN THE SUSPENSION IS REQUIRED BY LAW OR LEGAL PROCESS; OR
(H) UPON THE PUBLICATION OF A NOTICE CONVENING A GENERAL MEETING FOR THE PURPOSE OF

WINDING-UP THE COMPANY.

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U X E M B O U R G

15.2 Notification and effects of suspension
(A) ANY SUCH SUSPENSION MAY BE NOTIFIED BY THE COMPANY IN SUCH MANNER AS IT MAY DEEM

APPROPRIATE TO THE PERSONS LIKELY TO BE AFFECTED THEREBY. THE COMPANY SHALL NOTIFY ALL SHA-
REHOLDERS OF SUCH SUSPENSION.

(B) ANY REQUEST FOR SUBSCRIPTION OR CONVERSION WILL BE IRREVOCABLE EXCEPT IN THE EVENT

OF A SUSPENSION OF THE CALCULATION OF THE NET ASSET VALUE PER SHARE, IN WHICH CASE SHARE-
HOLDERS MAY GIVE NOTICE THAT THEY WISH TO WITHDRAW THEIR APPLICATION. IF NO SUCH NOTICE
IS RECEIVED BY THE COMPANY BEFORE THE END OF THE SUSPENSION PERIOD, SUCH APPLICATION WILL
BE DEALT WITH ON THE FIRST VALUATION DATE FOLLOWING THE END OF THE PERIOD OF SUSPENSION.

16. Art. 16. Management.
16.1 The Company shall be managed by BlueGem II Partners S.à r.l. (the General Partner). The General Partner shall

be the unlimited shareholder (actionnaire gérant commandité) and shall be personally, jointly and severally liable with the
Company for all liabilities which cannot be met out of the assets of the Company.

16.2 The General Partner is vested with the broadest powers to perform all acts of administration and disposition in

the Company's interest which are not expressly reserved by law or by these Articles to the meeting of Shareholders.

16.3 The General Partner shall namely have the power on behalf and in the name of the Company to carry out any

and all of the purposes of the Company and to perform all acts and enter into and perform all contracts and other
undertakings that it may deem necessary or advisable or incidental thereto. Except as otherwise expressly provided, the
General Partner shall have full authority in its discretion to exercise, on behalf of and in the name of the Company, all
rights and powers necessary or convenient to carry out the purposes of the Company.

17. Art. 17. Removal of the General Partner.
17.1 The General Meeting may require the removal of the General Partner with or without cause which will be effective

as of the date on which the notice of such decision is given to the General Partner and the substitution of another person
or entity in lieu thereof (the Succeeding General Partner) provided that:

(A) SUCH REMOVAL HAS BEEN APPROVED IN ADVANCE BY AN INVESTORS' SPECIAL CONSENT;
(B) AT LEAST ONE HALF OF THE CONTRIBUTED CAPITAL IS REPRESENTED AT THE GENERAL MEETING;
(C) AT LEAST 75% OF THE Capital PRESENTED OR REPRESENTED AT THE GENERAL MEETING VOTES IN

FAVOUR OF THE REVOCATION OF THE GENERAL PARTNER AND OF THE NOMINATION OF THE SUCCESSOR
GENERAL PARTNER WHICH MUST BE A LUXEMBOURG DOMICILED COMPANY;

(D) THE AGENDA OF THE GENERAL MEETING PROPOSING THE REMOVAL OF THE GENERAL PARTNER:
(I) PROVIDES A DESCRIPTION OF THE SUCCEEDING GENERAL PARTNER INCLUDING ITS CORPORATE

PURPOSE, TRACK RECORD, IF ANY, SHAREHOLDER STRUCTURE AND COMPOSITION OF ITS MANAGEMENT
BODY; AND

(II) CONFIRMS THE APPROVAL IN PRINCIPLE OF THE CSSF ON THE NOMINATION OF THE SUCCEEDING

GENERAL PARTNER;

(E) ANY SUCCEEDING GENERAL PARTNER IS SUBSTITUTED PRIOR TO, OR AT THE SAME TIME AS, THE

REMOVAL OF THE GENERAL PARTNER; AND

(F) A RESOLUTION TO REMOVE THE GENERAL PARTNER OR THOSE MEMBERS OF THE GOVERNING BODY

OF A PARALLEL FUND HAS BEEN PASSED WITHIN TEN (10) BUSINESS DAYS AFTER THE DAY OF THE GENERAL
MEETING RESOLVING THE REMOVAL OF THE GENERAL PARTNER.

17.2 In case of gross negligence or fraud of the General Partner or if an insolvency procedure has been opened against

the General Partner, the General Meeting can revoke the General Partner in accordance with Luxembourg Law.

17.3 The General Partner has no veto right on the resolution of the General Meeting's decision to revoke the General

Partner. The General Partner's or any of its Associate's (being a Limited Shareholder) vote will be taken into account of
the General Meeting's decision. The removal of the General Partner without cause or for any cause other than one of
them mentioned in article 17.4 shall be without prejudice to the right of the General Partner to receive a pro rata amount
of the Management Fee and other due payments in respect of the relevant Accounting Period.

17.4 The General Partner may be removed in accordance with the above procedure without compensation for ter-

mination of its office if the termination is the result of the General Partner's gross negligence, fraud, wilful misconduct,
bad faith or reckless disregard of its obligations and duties as the general partner of the Company.

18. Art. 18. Authorised signature. The Company shall be bound towards third parties in all matters by the corporate

signature of the General Partner or by the individual or joint signatures of any other persons to whom authority shall
have been delegated by the General Partner as the General Partner shall determine in its discretion, except that such
authority may not be conferred to a Limited Shareholder.

19. Art. 19. Investment policy and restrictions.
19.1 The General Partner, based upon the principle of risk spreading, has the power to determine the investment

policy of the Company and the course of conduct of the management and business affairs of the Company, all within the

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U X E M B O U R G

investment powers and restrictions as shall be set forth by the General Partner in the Memorandum in compliance with
applicable laws and regulations.

19.2 The General Partner shall also have power to determine any restrictions which shall from time to time be

applicable to the investment of the Company's assets including, without limitation, restrictions in respect of:

(A) THE BORROWINGS OF THE COMPANY AND THE PLEDGING OF ITS ASSETS; AND
(B) THE MAXIMUM PERCENTAGE (IF ANY) OF THE COMPANY'S ASSETS WHICH IT MAY INVEST IN ANY

SINGLE UNDERLYING ASSET AND THE MAXIMUM PERCENTAGE (IF ANY) OF ANY TYPE OF INVESTMENT
WHICH IT MAY ACQUIRE.

20. Art. 20. Committee.
20.1 The General Partner may establish any type of committees and determine the functions and the organisation of

such committees.

20.2 Any duly established committee (including its functions and organisation rules) will be described in the Memo-

randum.

21. Art. 21. Conflict of interests.
21.1 Any kind of conflict of interest is to be fully disclosed to the General Partner and any Investor undertakes to

notify the General Partner of any conflict of interest or potential conflict of interest that may arise out of its participation
in the Company.

21.2 The Company will enter into all transactions on an arm's length basis.
21.3 To the extent permitted by the Companies Act, a conflicted Limited Shareholder shall not vote in respect of a

matter subject to a conflict of interest in a General Meeting.

21.4 Except as otherwise decided by the General Partner, a conflicted Investor will be disregarded for the purpose of

a matter subject to any Investors' Ordinary Consent or Investors' Special Consent and the conflicted Investor will not
have the right to vote in respect of the matters relating to such conflict of interest.

22. Art. 22. Indemnification.
22.1 The General Partner (including each Manager), the members of any committee established under article 20, any

duly appointed agent and any Associate thereof (each referred to as Indemnified Person) are entitled to be indemnified,
out of the Company's assets against all claims and expenses incurred or threatened arising out of or in connection with
or relating to or resulting from the Indemnified Person being or having acted in respect of the Company, provided that:

(A) NO INDEMNIFIED PERSON SHALL BE ENTITLED TO SUCH INDEMNIFICATION FOR ANY ACTION OR

OMISSION RESULTING FROM ANY BEHAVIOUR WHICH QUALIFIES AS FRAUD, WILFUL MISCONDUCT, REC-
KLESS DISREGARD OR GROSS NEGLIGENCE; AND

(B) INDEMNITY AMOUNTS IN NO CASE WILL EXCEED THE AMOUNT OF TOTAL COMMITMENTS. WHERE

A PORTION OF TOTAL COMMITMENTS HAS ALREADY BEEN DRAWN DOWN, IN NO CASE INDEMNITY
AMOUNTS WILL EXCEED TOTAL UNDRAWN COMMITMENT PLUS ANY AMOUNTS THAT WILL BE REALISED
FROM THE COMPANY'S PORTFOLIO, UP TO AN AMOUNT NOT EXCEEDING TOTAL COMMITMENTS.

22.2 The Memorandum may provide for specific conditions under which the General Partner may require Limited

Shareholders (or former Limited Shareholders) to return all or a certain amount of their received Net Distributable Cash
distributed to the Company in relation with the Company's indemnification obligations or other liabilities.

23. Art. 23. Meetings of Shareholders.
23.1 The annual General Meeting will be held each year in Luxembourg on the last Thursday in June of each year at

14.00 (Luxembourg time). The annual General Meeting must be held within six months after the end of the Accounting
Year. If such day is not a Business Day, the General Meeting will be held on the previous day which is a Business Day.

23.2 The annual General Meeting may be held abroad if, in the absolute and final judgement of the General Partner,

exceptional circumstances so require.

23.3 Other General Meetings may be held at such place and time as may be specified in the respective convening

notices of the relevant General Meeting.

23.4 All General Meetings shall be chaired by the General Partner.
23.5 Any regularly constituted General Meeting of all Shareholders of the Company shall represent the entire body of

Shareholders of the Company.

23.6 Any regularly constituted General Meeting of all Shareholders of a relevant Class shall represent the entire body

of Shareholders of that Class.

24. Art. 24. Notice, quorum, convening notices, powers of attorney and vote.
24.1 The notice periods and quorum rules provided for by Luxembourg Law shall govern the notice for, and the

conduct of the General Meetings, unless otherwise provided herein.

24.2 The General Partner may convene a General Meeting. It shall be obliged to convene it so that it is held within a

period of one (1) month, if Shareholders representing one-tenth of the capital require it in writing, with an indication of

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U X E M B O U R G

the agenda. One or more Shareholders representing at least one tenth of the subscribed capital may require the entry
of one or more items on the agenda of any General Meeting. This request must be addressed to the Company at least
five (5) calendar days before the relevant General Meeting. In addition, the General Partner shall promptly convene a
General Meeting for the purpose of article 17 above.

24.3 All Shares being in registered form, the convening notices shall be made by registered letters only.
24.4 Each Share is entitled to one vote, subject to the provisions of articles 13.3(a) and 21.3 of these Articles.
24.5 Except as otherwise required by Luxembourg Law, by these Articles or by the Memorandum, resolutions at a

duly convened General Meeting will be passed by a simple majority of those present or represented and voting with the
consent of the General Partner. However, resolutions to amend these Articles may only be adopted in a General Meeting
properly convened and constituted in accordance with the Companies Act and any other applicable provision of Luxem-
bourg Law and subject to the prior approval of the CSSF.

24.6 The nationality of the Company may be changed and the commitments of its Shareholders may be increased only

with the unanimous consent of the Shareholders.

24.7 Any amendment affecting the rights of the holders of Shares of any Class of Shares vis-à-vis those of any other

Class of Shares shall only be valid if passed in accordance with article 68 of the Companies Act.

24.8 A Shareholder may act at any General Meeting by appointing another person who need not be a Shareholder as

its proxy in writing whether in original, by telefax, or e-mail to which an electronic signature (which is valid under
Luxembourg Law) is affixed.

24.9 If all the Shareholders are present or represented at a General Meeting, and consider themselves as being duly

convened and informed of the agenda of the General Meeting, the General Meeting may be held without prior notice.

24.10 The Shareholders may vote in writing (by way of voting bulletins) on resolutions submitted to the General

Meeting provided that the written voting bulletins include (a) the name, first name, address and the signature of the
relevant Shareholder, (b) the agenda as set forth in the convening notice and (c) the voting instructions (approval, refusal,
abstention) for each point of the agenda. In order to be taken into account, the original voting bulletins must be received
by the Company forty-eight (48) hours before the relevant General Meeting.

24.11 In any case, Shareholders may participate in a General Meeting by conference call, video conference or similar

means of communications equipment whereby (a) the Shareholders attending the meeting can be identified, (b) all persons
participating in the meeting can hear and speak to each other, (c) the transmission of the meeting is performed on an on-
going basis and (d) the Shareholders can properly deliberate, and participating in a meeting by such means shall constitute
presence in person at such meeting.

24.12 The General Partner may determine all other conditions that must be fulfilled by Shareholders for them to take

part in any General Meeting.

25. Art. 25. Auditors.
25.1 The accounting information contained in the annual report of the Company shall be examined by an auditor

(réviseur d'entreprises agréé) appointed by the General Meeting and remunerated by the Company.

25.2 The auditor shall fulfil all duties prescribed by the 2007 Act.

26. Art. 26. Depositary.
26.1 The Company shall appoint a Depositary which satisfies the requirements of the 2007 Act. The Depositary

assumes towards the Company and its Shareholders the responsibilities provided by the 2007 Act. The fees payable to
the Depositary will be determined in the depositary agreement to be entered between the Company and the Depositary.

26.2 If the Depositary desires to retire, the General Partner shall within two (2) months appoint another company to

act as a depositary and upon doing so the General Partner shall appoint such company to be the depositary in place of
the retiring Depositary subject to the prior consent of the CSSF. Although the General Partner has the power to terminate
the appointment of the Depositary, it shall not remove the Depositary unless and until a successor depositary has been
appointed in accordance with the 2007 Act.

27. Art. 27. Accounting year - Accounts.
27.1 The accounts of the Company begin on 1 January and terminate on 31 December of each year (the Accounting

Year).

27.2 The accounts of the Company shall be expressed in EUR.

28. Art. 28. Allocation of profits.
28.1 The General Meeting determines, upon proposal from the General Partner and within the limits provided by

Luxembourg Law and the Memorandum how the income from the Company will be applied with regard to each Class/
Series, and may declare, or authorise the General Partner to declare, distributions.

28.2 For any Class/Series, the General Partner may decide to pay interim dividends in accordance with Luxembourg

Law.

28.3 Payments of distributions will be made to Shareholders at their addresses in the Register.

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U X E M B O U R G

28.4 Distributions may be paid in such currency and at such a time and place as the General Partner determines from

time to time.

28.5 Any distribution that has not been claimed within five (5) years of its declaration will be forfeited and revert to

the relevant Class(es)/Series(s).

28.6 No interest will be paid on a dividend declared by the Company and kept by it at the disposal of its beneficiary.
DISTRIBUTION WATERFALL
28.7 Net Distributable Cash shall be distributed in the following order of priority - after payment of Expenses and

liabilities of the Company and as soon as reasonably practicable in the reasonable discretion of the General Partner after
the relevant amount becomes available for distribution unless the General Partner considers the amount to be de minimis
or decides to re-invest the amount in accordance with article 28.13:

(A) FIRSTLY, 100% TO ALL SHAREHOLDERS (EXCLUDING THE GENERAL PARTNER AND THE LIMITED SHA-

REHOLDERS OF CLASS A) IN REPAYMENT OF THEIR CAPITAL CONTRIBUTIONS PAID FIRST OUT OF THE
INCOME ACCOUNT AND THEN FROM THE OTHER ACCOUNTS AND 100% TO THE LIMITED SHAREHOLDERS
OF CLASS A IN REPAYMENT OF THEIR CAPITAL CONTRIBUTIONS EXCLUSIVELY PAID OUT OF THE OTHER
ACCOUNTS;

(B) SECONDLY, 100% TO ALL SHAREHOLDERS (EXCLUDING THE GENERAL PARTNER AND THE LIMITED

SHAREHOLDERS OF CLASS A) IN PROPORTION TO THEIR CAPITAL CONTRIBUTIONS UNTIL THEY HAVE RE-
CEIVED DISTRIBUTIONS EQUAL TO AN 8% PER ANNUM COMPOUNDED ANNUALLY (THE PREFERRED RE-
TURN) BASED ON THEIR CAPITAL CONTRIBUTIONS PAID FIRST OUT OF THE INCOME ACCOUNT AND THEN
FROM THE OTHER ACCOUNTS;

25% OF THE PREFERRED RETURN PAID OUT EXCLUSIVELY FROM THE OTHER ACCOUNTS; AND

(D) FOURTH, AS TO 80% TO ALL SHAREHOLDERS OTHER THAN THE LIMITED SHAREHOLDERS OF CLASS

A (PRO RATA TO THEIR RESPECTIVE COMMITMENTS) PAID FIRST OUT OF THE INCOME ACCOUNT AND THEN
FROM THE OTHER ACCOUNTS AND 20% TO THE LIMITED SHAREHOLDERS OF CLASS A (SUCH 20% PAYMENT
BEING REFERRED TO AS THE CARRIED INTEREST) PAID OUT EXCLUSIVELY FROM THE OTHER ACCOUNTS.

28.8 Defaulting Investors are excluded for the purpose of calculating the allocation of the proceeds attributable to

Investments.

LIMITATIONS ON DISTRIBUTIONS
28.9 The General Partner shall not be obliged to cause the Company to make any distribution pursuant to article 28.7:
(A) UNLESS THERE IS CASH AVAILABLE FOR THE DISTRIBUTION;
(B) WHICH WOULD RENDER THE COMPANY INSOLVENT;
(C) WHICH, IN THE REASONABLE OPINION OF THE GENERAL PARTNER, WOULD OR MIGHT LEAVE THE

COMPANY WITH A SUBSCRIBED Share capital OF LESS THAN ONE MILLION TWO HUNDRED AND FIFTY
THOUSAND EURO (EUR 1,250,000) OR WITH INSUFFICIENT FUNDS TO MEET ANY FUTURE CONTEMPLATED
OBLIGATIONS, EXPENSES, LIABILITIES OR CONTINGENCIES, INCLUDING OBLIGATIONS TO THE GENERAL
PARTNER (INCLUDING ANY UNDERLYING CLAIM, AS THE CASE MAY BE).

GIVEBACK OF CARRIED INTEREST
28.10 The Memorandum may provide for specific conditions under which the General Partner may require Limited

Shareholders of Class A to return all or a certain amount of their received Carried Interest.

DISTRIBUTIONS BEFORE TRANSFER REGISTERED
28.11 Distributions shall be made only to Shareholders who/which are recorded in the Register as at the date a

distribution is made as having made a Capital Contribution and no sums shall be treated as accruing due prior to actual
payment.

28.12 Neither the Company, nor the General Partner shall incur any liability for distributions made in good faith to

any Shareholder at the last address provided by it prior to the registration of any Transfer of all or any of its Shares.

RE-INVESTMENT OF NET DISTRIBUTABLE CASH
28.13 The General Partner is not obliged to cause the Company to distribute Net Distributable Cash where the

Company is entitled to re-invest as determined in the Memorandum.

DISTRIBUTION IN SPECIE
28.14 Distribution in specie may be done in accordance with the Memorandum and under the condition that the value

of the distribution in specie will be assessed in a report established in accordance with Luxembourg Law by an auditor
which qualifies as a réviseur d'entreprises agréé.

29. Art. 29. Dissolution and Liquidation.
29.1 Subject to article 4, the Company may be voluntarily dissolved by a resolution of a General Meeting with the

consent of the General Partner.

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U X E M B O U R G

29.2 In the event of a voluntary liquidation, the Company shall, upon its dissolution, be deemed to continue to exist

for the purposes of the liquidation. The operations of the Company shall be conducted by one or several liquidators,
who/which, after having been approved by the CSSF, shall be appointed by a General Meeting, which shall determine their
powers and compensation.

29.3 Should the Company be voluntarily liquidated, then its liquidation will be carried out in accordance with the

provisions of the 2007 Act and the Companies Act. The liquidation report of the liquidators will be audited by the Auditor
or by an ad hoc external auditor appointed by the General Meeting.

29.4 If the Company were to be compulsorily liquidated, the provision of the 2007 Act will be exclusively applicable.
29.5 The issue of new Shares by the Company shall cease as of the date of the notice to convene the General Meeting

to which the dissolution and liquidation of the Company will be proposed. The proceeds of the liquidation of the Company,
net of all liquidation expenses, shall be distributed by the liquidators among the holders of Shares in each Class in accor-
dance with their respective rights. The amounts not claimed by Investors at the end of the liquidation process shall be
deposited, in accordance with Luxembourg Law, with the Caisse de Consignation in Luxembourg until the statutory
limitation period has lapsed.

30. Art. 30. Applicable law. All matters not governed by these Articles shall be determined by application of the

provisions of Luxembourg Law, and, in particular, the Companies Act and the 2007 Act in accordance with article 2.2.

Transitional provision

The first Accounting Year begins on the date of incorporation and ends on 31 December 2013.

Subscription - Payment

The Articles having thus been established, the appearing parties hereby declare that they subscribe to thirty-one

thousand (31,000) Shares representing the total share capital of the Company as follows:

NNBlueGem II Partners, prenamed: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1 (one) GP Share;

1 (one) Ordinary Share of Class B; and

MEM II (Lux) LP, prenamed: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,998 (thirty thousand nine hundred

and ninety-eight) Ordinary Shares of

Class A

Total: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31,000 (thirty-one thousand) Shares

All these Shares have been fully paid up by the Shareholders by payment in cash, so that the sum of thirty-one thousand

Euro (EUR 31,000) paid by the Shareholders is from now on at the free disposal of the Company, evidence thereof having
been given to the officiating notary.

Statement

The notary executing this deed declares that the conditions prescribed by article 26, 26-3 and 26-5 of the Companies

Act have been fulfilled and expressly bears witness to their fulfilment. Further, the notary executing this deed confirms
that these Articles comply with the provisions of article 27 of the Companies Act.

Costs

The expenses, costs, remunerations and charges, in any form whatsoever, which shall be borne by the Company as a

result of the present deed are estimated to be approximately two thousand five hundred Euros (EUR 2,500.-).

Resolutions of the shareholders

The appearing parties, representing the entire subscribed share capital and considering themselves as having been duly

convened, immediately proceeded to the holding of a General Meeting.

Having first verified that the meeting was regularly constituted, the Shareholders passed with the consent of the General

Partner, the following resolutions by unanimous vote:

(a) acknowledgment and approval that the purpose of the Company has been determined and that the articles of

incorporation have been set;

(b) appointment of Deloitte Audit, with registered office at 560, rue de Neudorf, L-2220 Luxembourg (Grand Duchy

of Luxembourg) as external auditor (réviseur d'entreprises agréé) of the Company for a period of time ending on the
date of the annual General Meeting approving the accounts for the Accounting Year ending 31 December 2013;

L-1748 Findel, Grand Duchy of Luxembourg.

Statement

The undersigned notary who understands and speaks English, states herewith that at the request of the above appearing

parties, the present deed is worded in English.

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U X E M B O U R G

WHEREOF, the present notarial deed was drawn up in Luxembourg, on the day named at the beginning of this do-

cument.

The document having been read to the proxyholder of the appearing parties, known to the notary by his surname,

name, civil status and residence, the said proxyholder of the appearing parties signed the present deed together with the
notary.

Signé: C. DORTSCHY, C. WERSANDT.
Enregistré à Luxembourg, A.C., le 24 avril 2013. LAC/2013/18916. Reçu soixante-quinze euros (75,00 €).

Le Receveur (signé): Irène THILL.

POUR EXPEDITION CONFORME, délivrée.

Luxembourg, le 30 avril 2013.

Référence de publication: 2013057745/1038.
(130071411) Déposé au registre de commerce et des sociétés de Luxembourg, le 6 mai 2013.

H&A Lux Global Asset, Fonds Commun de Placement.

Für den Fonds, der als spezialisierter Investmentfonds nach Luxemburger Recht gegründet wurde, gilt das Verwal-

tungsreglement, welches am 15. April 2013 in Kraft trat.

Das Verwaltungsreglement wurde beim Handels- und Gesellschaftsregister von Luxemburg hinterlegt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.

Luxemburg, den 15. April 2013

Hauck & Aufhäuser Investment Gesellschaft S.A.
Unterschriften

Référence de publication: 2013053141/12.
(130064861) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2013.

RS Lighting s.à r.l., Société à responsabilité limitée,

(anc. Skano S.à r.l.).

Siège social: L-5670 Altwies, route de Luxembourg.

R.C.S. Luxembourg B 142.058.

L'an deux mille treize, le quatre mars.
Par-devant Maître Alex WEBER, notaire de résidence à Bascharage.

ONT COMPARU:

1.- Madame Fatéha AMANZOUGGARENE, employée privée, née à Thionville (France), le 12 février 1971, demeurant

à F-57100 Thionville, 11, rue Château Jeannot,

détentrice de cinquante (50) parts sociales.
2.- Monsieur Habib BENMESSAOUD, employé privé, né à Sidi Bel Abbes (Algérie), le 16 juin 1969, demeurant à F-57100

Thionville, 11, rue Château Jeannot,

détenteur de cinquante (50) parts sociales.
Les comparants préqualifiés, agissant en leur qualité de seuls associés de la société à responsabilité limitée "SKANO

S.à r.l." (numéro d'identité 2008 24 40 535), avec siège social à L-2610 Luxembourg, 160, route de Thionville, inscrite au
R.C.S.L. sous le numéro B 142.058, constituée suivant acte reçu par le notaire Carlo WERSANDT, de résidence à Lu-
xembourg, en date du 29 septembre 2008, publié au Mémorial C, numéro 2548 du 17 octobre 2008,

ont requis le notaire instrumentant d'acter ce qui suit:

I.- Cessions de parts sociales

A) Madame Fatéha AMANZOUGGARENE, comparante sub 1.-, cède et transporte, sous les garanties ordinaires de

fait et de droit, vingt-quatre (24) parts sociales qu'elle détient dans la prédite société "SKANO S.à r.l." à Monsieur Ralf
AMSINK, Quality Manager, né à Nordhora (Allemagne) le 17 novembre 1967, demeurant à D-76855 Annweiler am Trifels,
9, Am Dieterswoog, ici présent et qui accepte.

B) Madame Fatéha AMANZOUGGARENE, comparante sub 1.-, cède et transporte, sous les garanties ordinaires de

fait et de droit, vingt-six (26) parts sociales qu'elle détient dans la prédite société "SKANO S.à r.l." à Monsieur Sephiène
BENMESSAOUD, salarié, né à Thionville (France) le 3 juin 1979, demeurant à F-57480 Haute-Kontz, 12, rue de Gandren,
ici présent et qui accepte.

C) Monsieur Habib BENMESSAOUD, comparant sub 2.-, cède et transporte, sous les garanties ordinaires de fait et

de droit, les cinquante (50) parts sociales qu'il détient dans la prédite société "SKANO S.à r.l." à Monsieur Sephiène
BENMESSAOUD, préqualifié, ici présent et qui accepte.

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U X E M B O U R G

Madame Fatéha AMANZOUGGARENE et Monsieur Habib BENMESSAOUD, comparants, déclarent donner leur

agrément aux présentes cessions, conformément à l'article 7 des statuts.

Conformément à l'article 190 de la loi sur les sociétés commerciales, telle que modifiée et à l'article 1690 du Code

Civil, la société "SKANO S. à r.l.", ici représentée par sa gérante unique Madame Fatéha AMANZOUGGARENE, pré-
qualifiée, déclare accepter les présentes cessions.

Les cessionnaires se trouvent subrogés dans tous les droits et obligations attachés aux parts cédées à partir de ce jour.
Les cessionnaires participeront aux bénéfices et pertes à partir de ce jour.
Les cessionnaires déclarent parfaitement connaître les statuts et la situation financière de la société et renoncent à

toute garantie de la part des cédants respectifs.

Après les prédites cessions, les cent (100) parts sociales sont réparties comme suit:

1) Monsieur Ralf AMSINK, préqualifié, vingt-quatre parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2) Monsieur Sephiène BENMESSAOUD, préqualifié, soixante-seize parts sociales . . . . . . . . . . . . . . . . . . . . . . .

Total: cent parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100

II.- Assemblée Générale Extraordinaire

Ensuite Messieurs Ralf AMSINK et Sephiène BENMESSAOUD, seuls associés de la société "SKANO S.à r.l.", ont pris

les résolutions suivantes:

Première résolution

Les associés décident de changer la dénomination de la société en «RS LIGHTING s.à r.l.» et en conséquence de

modifier l'article 1

des statuts pour lui donner la teneur suivante:

« Art. 1

. Il existe une société à responsabilité limitée sous la dénomination de «RS LIGHTING s.à r.l.»

Deuxième résolution

Les associés décident de modifier l'article 3 des statuts, relatif à l'objet social, pour lui donner la teneur suivante:

« Art. 3. La société a pour objet toutes prestations de services en management de qualité et de production, en

assurance-qualité ainsi que toutes prestations de services s'y rapportant.

La société a également pour objet l'import-export en général, ainsi que l'achat et la vente de tous accessoires ou pièces

relevant du secteur automobile ou des secteurs des motos, poids lourds, engins agricoles ou autres véhicules et engins
de toutes sortes.

La société est autorisée à contracter des emprunts pour son propre compte et à accorder tous cautionnements ou

garanties.

La société pourra effectuer toutes activités et opérations commerciales, industrielles, financières, mobilières, immo-

bilières ou autres se rattachant directement ou indirectement à son objet social ou susceptibles d'en favoriser la
réalisation.»

Troisième résolution

Les associés décident de transférer le siège social de L-2610 Luxembourg, 160, route de Thionville à L-5670 Altwies,

route de Luxembourg (Le Moulin) et en conséquence de modifier l'article 2 des statuts pour lui donner la teneur suivante:

" Art. 2. Le siège social est établi à Altwies. Il pourra être transféré en toute autre localité du Grand-Duché de

Luxembourg par simple décision de l'assemblée générale des associés."

Quatrième résolution

Les associés décident d'accepter la démission de Madame Fatéha AMANZOUGGARENE comme gérante unique de

la société et de lui donner décharge de sa fonction.

Cinquième résolution

Les associés décident de nommer pour une durée indéterminée:
a) Monsieur Ralf AMSINK, préqualifié, en qualité de gérant technique;
b) Monsieur Sephiène BENMESSAOUD, préqualifié, en qualité de gérant administratif.
La société est valablement engagée en toutes circonstances par la signature conjointe du gérant technique et du gérant

administratif.

Déclaration

Messieurs Ralf AMSINK et Sephiène BENMESSAOUD, préqualifiés, déclarent, en application de la loi du 12 novembre

2004, telle qu'elle a été modifiée par la suite, être les bénéficiaires réels des cessions de parts ci-dessus et agir pour leur
propre compte et certifient que la société ne se livre pas et ne s'est pas livrée pas à des activités constituant une infraction
visée aux articles 506-1 du Code Pénal et 8-1 de la loi modifiée du 19 février 1973 concernant la vente de substances

52829

U X E M B O U R G

médicamenteuses et la lutte contre la toxicomanie (blanchiment) ou des actes de terrorisme tels que définis à l'article
135-1 du Code Pénal (financement du terrorisme).

Frais

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 mille cent euros (€ 1.100.-).

DONT ACTE, fait et passé à Bascharage, en l'étude, date qu'en tête des présentes.
Et après lecture faite aux comparants, ceux-ci ont signé avec Nous notaire le présent acte.
Signé: AMANZOUGGARENE, H. BENMESSAOUD, AMSINK, S. BENMESSAOUD, A. WEBER.
Enregistré à Capellen, le 11 mars 2013. Relation: CAP/2013/870 Reçu soixante-qinze euros 75,00 €.

Le Receveur

(signé): NEU.

Pour expédition conforme, délivrée à la société sur demande, aux fins de dépôt au Registre de Commerce et des

Sociétés.

Bascharage, le 21 mars 2013.

Référence de publication: 2013046552/98.
(130056301) Déposé au registre de commerce et des sociétés de Luxembourg, le 10 avril 2013.

VEREF I Invest Co 4 S.àr.l., Société à responsabilité limitée.

Siège social: L-2730 Luxembourg, 22, rue Michel Welter.

R.C.S. Luxembourg B 176.766.

STATUTES

In the year two thousand and thirteen, on the twenty-first of March,
Before Maître Francis Kesseler, notary residing in Esch-sur-Alzette (Grand-Duchy of Luxembourg).

There appeared:

VEREF I INVEST CO 1 S.À R.L., a private limited liability company governed by Luxembourg law, having its registered

office at 22, rue Michel Welter, L-2730 Luxembourg, registered with the Luxembourg Trade and Companies Register
under number B155.892, here represented by Me Marie-Claude Frank, attorney-at-law, with professional address in
Howald, by virtue of a proxy given under private seal,

Which proxy shall be signed "ne varietur" by the appearing person and the undersigned notary and shall be attached

to the present deed to be filed at the same time.

Such appearing person, acting in her above mentioned capacity, has requested the notary to draw up the following

articles of incorporation of a société à responsabilité limitée, which shall be formed:

Art. 1. The founding partner and all persons and entities who may become partners in the future (singularly the

"Partner" and jointly, the "Partners"), hereby form a private company with limited liability (the "Company") which will be
governed by the laws pertaining to such an entity as well as by these articles of association (the "Articles of Association").

Art. 2. The object of the Company is the holding of participations, in any form whatsoever, in Luxembourg companies

and foreign companies and the acquisition by purchase, subscription, or in any other manner as well as the transfer by
sale, exchange or otherwise of stock, bonds, warrants, debentures, notes and other securities of any kind, as well as the
management, control and development of such participations.

The Company may also invest in and develop real estate as well as carry out real estate management for its own

purposes.

The Company may render to its subsidiaries as well as any other member of the group every assistance whether by

way of loans, guarantees or otherwise.

The Company may borrow in any form, in particular it may proceed to the issuance of notes, certificates, bonds and

debentures (including convertible instruments) and any kind of convertible or non-convertible debt and/ or equity secu-
rities or instruments by way of private placement.

The Company may carry out any other financial, industrial or commercial activity, directly or indirectly connected with

its objects.

The Company may in general take any controlling and supervisory measures and carry out any operation which it may

deem useful in the accomplishment and development of its purposes.

Art. 3. The term of the Company shall be for an unlimited period.

Art. 4. The Company's denomination shall be "VEREF I Invest Co 4 S.àr.l.".

Art. 5. The registered office of the Company is established in the municipality of Luxembourg, Grand-Duchy of Lu-

xembourg. It may be transferred within the boundaries of the municipality by a resolution of the manager(s) of the

52830

U X E M B O U R G

Company. The registered office may further be transferred to any other place in the Grand-Duchy of Luxembourg by
means of a resolution of the general meeting of the Company adopted in the manner required for the amendment of the
Articles of Association. Branches, subsidiaries or other offices may be established either in the Grand-Duchy of Luxem-
bourg or abroad by a resolution of the manager(s) of the Company.

Where the manager(s) of the Company determine(s) that extraordinary political or military developments or events

have occurred or are imminent and that these developments or events would interfere with the normal activities of the
Company at its registered office, or with the ease of communication between such office and persons abroad, the regis-
tered office may be temporarily transferred abroad until the complete cessation of these extraordinary circumstances.
Such temporary measures shall have no effect on the nationality of the Company, which, notwithstanding the temporary
transfer of its registered office, will remain a Luxembourg incorporated company.

Art. 6. The Company's corporate capital is set at twelve thousand five hundred Euros (EUR 12,500.-), represented by

one hundred twenty five thousand (125,000) redeemable parts with a par value of ten Euro cents (EUR 0.10) each, fully
subscribed for and paid up.

The authorised capital of the Company is fixed at one hundred million Euros (EUR 100,000,000.-) represented by one

billion (1,000,000,000) redeemable parts with a par value of ten Euro cents (EUR 0.10) each.

All parts may be issued with a premium. The manager(s) may create such capital reserves from time to time as they

may determine is proper (in addition to those which are required by law) and shall create a paid in surplus from funds
received by the Company as issue premiums on the issue and subscription of its parts. The payment of any dividend or
other distribution out of a reserve fund to Partners may be decided by the manager(s).

During the period of five (5) years from the date of the publication of the Company's deed of incorporation dated 21

March 2013, the manager(s) is/are hereby authorised to issue additional parts and to grant options to subscribe for such
parts up to the amount of the authorised capital (without taking account of the capital already issued), to such persons
and on such terms as he/they shall see fit (and specifically to proceed to such issue without reserving for the existing
Partners a preferential right to subscribe for the parts to be issued).

Whenever the manager(s) effect(s) an increase of capital in whole or in part he/they shall be obliged to take steps to

amend this Article in order to record the change and the manager(s) is/are authorised to take or authorise the steps
required for the execution and publication of such amendment in accordance with legal requirements.

Within the five (5) years period referred to above and within the limit of the authorised capital, the manager(s) is/are

further authorised to issue convertible bonds or assimilated instruments or bonds with subscription rights or any debt
financial instruments on such other terms and conditions as the manager(s) shall consider from time to time to be in the
best interest of the Company and without reserving to existing Partners a preferential right to subscribe for such ins-
truments or the parts underlying such instruments.

The period or extent of such authority may be extended or increased by the Partners in general meeting from time

to time, in the manner required for amendment of these Articles of Association.

Art. 7. Subject to the prior written approval of the Partner(s), the manager(s) may redeem all or some of the parts.
If the manager(s) determine(s) to redeem any parts he/they shall give the holder(s) of the parts such reasonable notice

of the redemption as he/they shall determine.

Each holder of such parts shall execute and deliver such documents or instruments or otherwise take such actions as

may be required by the Company to give effect to these provisions. Each manager, from time to time, is hereby granted
a power of attorney by each holder of parts to execute and deliver any such documents or instruments or take any such
actions in the name of and on behalf of such holder of parts to the extent that such holder of parts fails to do so.

Once a part is redeemed the holder of the part shall cease to be entitled to any rights in respect of it (except the right

to receive a dividend which has been declared prior to such redemption).

The manager(s) shall either redeem the parts out of distributable reserves or re-issue such parts immediately to new

Partners. Alternatively, the manager(s) may at his/their discretion decide to cancel any redeemed parts and is/are then
authorized to take the necessary steps to record the modification of the Articles of Association and to publish the
modification in accordance with applicable Luxembourg laws.

Art. 8. The Company's parts are freely transferable between existing Partners.
They may only be disposed of to new Partners following the passing of a resolution of the Partners in general meeting,

approved by a majority amounting to three-quarters of the paid-up corporate capital.

Art. 9. The death, suspension of civil rights, insolvency or bankruptcy of one (1) of the Partners will not bring the

Company to an end.

Art. 10. Neither creditors nor heirs may for any reason create a charge over the assets or documents of the Company

in respect of their own indebtedness.

Art. 11. The Company is managed by one (1) or several managers, not necessarily Partners, appointed by the Partner

(s). If several managers are appointed, they form a board of managers (the "Board of Managers").

52831

U X E M B O U R G

The Partner(s) will have the power to appoint the manager(s) and to dismiss such manager(s) at any time in its/their

discretion without giving reasons.

In dealing with third parties, the manager(s) has/have the most extensive powers to act in the name of the Company

in all circumstances and to perform or authorise any acts or operations connected with its objects.

The managers may elect a chairman of their Board of Managers and determine the period for which he is to hold office;

but if no such chairman is elected, or if at any meeting the chairman is not present within five (5) minutes after the time
appointed for holding the same, the managers present may choose one (1) of their number to be chairman of the meeting.
The chairman shall always be required to be physically present in Luxembourg unless otherwise determined by the
managers.

A manager may participate in a meeting of the Board of Managers by conference telephone or other communications

equipment by means of which all the persons participating in the meeting can communicate with each other at the same
time. Participation by a manager in a meeting in this manner is treated as presence in person at that meeting. Unless
otherwise determined by the managers, the meeting shall be deemed to be held at the place where the chairman is at
the start of the meeting.

A manager may be represented at any meetings of the Board of Managers by a proxy appointed in writing by him. He

must appoint as proxy another manager in office of the Company. The vote of the proxy shall for all purposes be deemed
to be that of the appointing manager.

In order to be valid, resolutions of the Board of Managers must be passed by the vote of at least a simple majority of

managers in office at any time. In the event of an equality of votes, any chairman of the Board of Managers that may be
appointed by the Board of Managers, shall not have a casting vote.

Written resolutions signed by all the managers will be as valid and effective as if passed at a meeting duly convened

and held. Such signatures may appear on a single document or multiple copies thereof and may be evidenced by letter,
telefax or similar communication.

Subject to any matters that require approval by the Partner(s) in accordance with Article 14, any manager can bind

the Company by his sole signature for any transaction involving an amount of twenty five thousand Euros (EUR 25,000.-)
or less. The manager(s) may delegate signatory power to any manager or third party to bind the Company in the context
of a specific transaction.

Art. 12. The Company shall, to the fullest extent permitted by law, indemnify any person who is, or has been, a manager

or officer, against any liability and expenses reasonably incurred or paid by him in connection with any investigation, claim,
action, suit or proceeding in which he becomes involved as a party or otherwise by reason of him being or having been
a manager or officer of the Company or, at its request, of any other company of which the Company is a shareholder or
a creditor and from which he is not entitled to be indemnified, and against amounts paid or incurred by him in the
settlement thereof, except in relation to matters as to which he shall be finally adjudged in a court of competent jurisdiction
in such investigation, claim, action, suit or proceeding to be liable for gross negligence, or willful misconduct in the conduct
of his office; in the event of settlement, indemnification shall be provided only in connection with such matters covered
by the settlement as to which a tribunal of competent jurisdiction has approved the settlement or the Company is advised
by counsel that the person to be indemnified did not commit such a breach of duty.

Art. 13. The manager(s) assume(s), by reason of his/their position, no personal liability in relation to commitments

regularly made by him/them in the name of the Company. He/they is/are simple authorised agent(s) and is/are responsible
only for the execution of his/their mandate.

Art. 14. Each Partner may take part in collective decisions irrespective of the number of parts which it owns.
The following matters require prior written approval by the Partner(s):
- any expenditure or investment by the Company or any of its subsidiaries exceeding twenty five thousand Euros (EUR

25,000. ),

- any sale, transfer or disposal of (including for the avoidance of doubt the granting of security over) the whole or any

substantial part of the Company's assets or the assets of any subsidiary of the Company,

- formation of any subsidiary by the Company,
- amendments of the articles of association of any subsidiary,
- dissolution of any subsidiary,
- any issue or redemption of any kind of debt and/ or equity securities,
- redemption of parts.
Each Partner has voting rights commensurate with its holding of parts. Each Partner may appoint a proxy to represent

it at general meetings of the Company.

Art. 15. The Company's financial year commences on the 1

of January and ends on the 31

of December.

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U X E M B O U R G

Art. 16. Each year on the 31

of December, the books of the Company shall be closed and the manager(s) shall

prepare an inventory including an estimate of the value of the Company's assets and liabilities as well as the Company's
financial statements.

Art. 17. Each Partner may inspect the above inventory and the financial statements at the Company's registered office.

Art. 18. The amount stated in the annual inventory, after deduction of general expenses, amortisation and other

expenses represents the net profit of the Company.

Five percent (5%) of the net profit is set aside to be put into a statutory reserve, until this reserve amounts to ten

percent (10%) of the corporate capital. The balance may be used freely by the Partner(s).

Any dividend declared shall be distributed among the holder(s) of parts in proportion to the number of parts it/they

hold(s). The holder(s) of parts in respect of which issue premiums have been paid will be entitled to distributions not
only in respect of the corporate capital but also in respect of the amount of issue premiums paid by such holder(s) reduced
by any distributions of such issue premiums to the holder(s) of such parts or any amounts of such issue premium used
for the setting off of any realized or unrealized capital losses.

The manager(s) is/are authorised to proceed, as often as he/they deem(s) appropriate and at any moment in time

during the accounting year, to the payment of interim dividends, subject only to the two (2) following conditions: the
manager(s) may only take the decision to distribute interim dividends on the basis of interim accounts drawn up within
thirty (30) days before the date of the decision regarding a distribution of dividends; the interim accounts, which may be
un-audited, must show that sufficient distributable profits exist.

Art. 19. At the time of the winding up of the Company, the liquidation of the Company will be carried out by one (1)

or more liquidators, who may be Partners, and who are appointed by the general meeting of the Company.

Art. 20. Each of the Partners will refer to legal provisions on all matters for which no specific provision is made in

these Articles of Association.

Special provision

The first financial year shall begin on the date of the incorporation and shall end on 31 December 2013.

Subscription

The articles of incorporation of the Company having thus been established, the above named founding partner declares

to subscribe the capital as follows:

VEREF I INVEST CO 1 S.À R.L., pre-named . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125,000 parts
TOTAL: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125,000 parts

The parts have been fully paid up by payment in cash, so that the amount of twelve thousand five hundred Euros (EUR

12,500.-) is now available to the Company.

Costs

The aggregate amount of the costs, expenditures, remunerations or expenses, in any form whatsoever, which the

Company incurs or for which it is liable by reason of its organization, is approximately one thousand five hundred euro
(EUR 1,500.-).

Extraordinary general meeting

Immediately after the incorporation of the Company, the above-named partner took the following resolutions:
1) The number of manager(s) is fixed at one (1) person.
2) The following person is appointed as manager for an unlimited period:
- Mr Francesco Biscarini, director of companies, born in Perugia, Italy on 23 February 1971, professionally residing at

22, rue Michel Welter, L-2730, Luxembourg.

3) The Company shall have its registered office at 22, rue Michel Welter, L-2730 Luxembourg.
The undersigned notary, who understands and speaks English, states herewith that on request of the above appearing

person, the present deed is worded in English, followed by a French translation. On request of the same appearing person
and in case of divergences between the English and the French text, the English version will prevail.

WHEREOF, the present notarial deed was drawn up in Howald on the date mentioned at the beginning of this docu-

ment.

The deed having been read to the appearing person, which is known to the notary by first name, last name, civil status

and residence, the said person appearing signed together with the notary the present deed.

Follows the french version:

L'an deux mille treize, le vingt-et-un mars.
Par devant Maître Francis Kesseler, notaire de résidence à Esch-sur-Alzette (Grand-Duché de Luxembourg).

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A comparu

La société VEREF I INVEST Co 1 S.à r.l., une société à responsabilité limitée soumise au droit luxembourgeois, ayant

son siége social à 22, rue Michel Welter, L-2730 Luxembourg, immatriculée auprès du Registre de Commerce et des
Sociétés à Luxembourg sous le numéro B155.892, ici représentée par Me Marie-Claude Frank, avocat à la Cour, ayant
son adresse professionnelle à Howald, en vertu d'une procuration lui conférée sous seing privé,

Laquelle procuration, après avoir été signée "ne varietur" par la personne représentant le comparant susnommé et le

notaire soussigné, restera annexée au présent acte pour être enregistrée avec celui-ci.

Lequel comparant, représenté comme dit ci-avant, a déclaré vouloir constituer par le présent acte une société à

responsabilité limitée et a requis le notaire instrumentant d'arrêter ainsi qu'il suit les statuts:

Art. 1

. Il est formé par les présentes entre l'associé fondateur et tous ceux qui pourront devenir associés par la

suite (au singulier l'"Associé" et conjointement les "Associés"), une société à responsabilité limitée (la "Société") qui sera
régie par les lois y relatives, ainsi que par les présents statuts (les "Statuts").

Art. 2. L'objet de la Société est la prise de participations, sous quelque forme que ce soit, dans des sociétés luxem-

bourgeoises et étrangères et toute autre forme d'investissement, l'acquisition par achat, souscription, ou de toute autre
manière, ainsi que l'aliénation par vente, échange ou de toute autre manière d'actions, d'obligations, de bons de souscri-
ption, de dettes, de notes et d'autres valeurs mobilières de toutes espèces, ainsi que la gestion, le contrôle et le
développement de son portefeuille.

La Société peut fournir à ses succursales et tout autre membre du groupe toute assistance, que ce soit par voie de

prêts, garanties ou autres.

La Société peut aussi investir dans et développer de l'immobilier et faire de la gestion immobilière pour son propre

compte.

La Société peut emprunter sous toutes les formes, et en particulier elle peut procéder à l'émission de billets, certificats,

obligations et autres dettes (y compris des instruments convertibles) et toute forme de dette convertible ou non-con-
vertible et/ ou titres ou instruments de capital par placement privé.

La Société peut poursuivre toute autre activité de nature financière, industrielle ou commerciale qui se révèle utile

directement ou indirectement à l'accomplissement de ses objets.

La Société peut en général prendre toutes mesures de contrôle et de supervision et poursuivre toute activité utile à

l'accomplissement et au développement de ses objets.

Art. 3. La Société est constituée pour une durée indéterminée.

Art. 4. La Société prend la dénomination de "VEREF I Invest Co 4 S.à r.l.".

Art. 5. Le siège social de la Société est établi dans la municipalité de Luxembourg, Grand-Duché de Luxembourg. Il

pourra être transféré dans les limites de la municipalité par une résolution du/des gérant(s) de la Société. Le siège social
pourra être transféré ultérieurement à n'importe quel endroit au Grand-Duché de Luxembourg par une résolution de
l'assemblée générale de la Société adoptée selon la manière requise pour la modification des Statuts.

Des succursales, des filiales ou autres bureaux pourront être établis soit au Grand-Duché de Luxembourg ou ailleurs

par une résolution du/des gérant(s) de la Société.

Dans l'éventualité où le(s) gérant(s) de la Société détermine(nt) que des développements ou événements extraordi-

naires politiques ou militaires ont eu lieu ou sont imminents et que ces développements ou événements pourraient
entraver les activités normales de la Société à son siège social, ou avec la facilité de communication entre ce bureau et
les personnes ailleurs, le siège social pourra temporairement être transféré ailleurs jusqu'à la complète cessation de ces
circonstances extraordinaires. De telles mesures temporaires n'auront aucun effet sur la nationalité de la Société, qui,
nonobstant le transfert temporaire de son siège social, restera une société de droit luxembourgeois.

Art. 6. Le capital social de la Société est fixé à douze mille cinq cents Euro (EUR 12.500,-), représenté par cent vingt-

cinq mille (125.000) parts sociales rachetables, chacune d'une valeur nominale de dix centimes d'Euro (EUR 0,10),
entièrement souscrites et libérées.

Le capital autorisé de la Société est fixé à cent millions d'Euro (EUR 100.000.000,-) représenté par un milliard

(1.000.000.000) de parts sociales rachetables d'une valeur nominale de dix centimes d'Euro (EUR 0,10) chacune.

Toutes les parts sociales pourront être émises avec une prime d'émission. Le(s) gérant(s) pourra/ont créer ponctuel-

lement les réserves qu'il(s) jugera/ont appropriées (en plus des réserves légales) et créera/ont une réserve destinée à
recevoir les primes d'émission reçues par la Société lors de l'émission et de la souscription de ses parts sociales. Le
paiement de tout dividende ou de toute autre distribution résultant d'un fonds de réserve aux détenteurs de parts sociales
pourra être décidé par le(s) gérant(s).

Durant la période de cinq (5) ans à compter de la date de publication de l'acte constitutif du 21 mars 2013, le(s) gérant

(s) est/sont autorisé(s) par les présentes à émettre des parts sociales additionnelles et à accorder des options pour
souscrire des parts sociales additionnelles aux personnes et aux conditions qu'il(s) jugera/ont adéquates dans les limites

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U X E M B O U R G

du capital autorisé (sans prendre en compte le capital déjà émis) (et spécifiquement de procéder en la matière sans
réserver un droit préférentiel aux Associés existants en vue de la souscription des parts sociales à émettre).

Lorsque le(s) gérant(s) effectue(nt) une augmentation de capital, en entier ou en partie, il(s) sera/ont tenu(s) de prendre

les mesures nécessaires pour modifier cet Article afin d'enregistrer le changement, et le(s) gérant(s) est/sont autorisé(s)
à prendre ou autoriser les mesures requises en vue de l'exécution et de la publication de tels amendements conformément
aux exigences légales.

Dans le délai de cinq (5) ans prévu ci-dessus et le respect des limites relatives au capital autorisé, le(s) gérant(s) est/

sont autorisé(s) à émettre des obligations convertibles ou instruments assimilés ou obligations avec droits de souscription
ou tout autre instrument de dette aux telles autres conditions générales que le(s) gérant(s) jugera/ont servir au mieux
les intérêts de la Société et sans réserver aux Associés existants un droit préférentiel de souscrire de tels instruments
ou les parts sociales sous-jacentes à de tels instruments.

La période ou l'étendue de cette autorisation peut être prorogée ou accrue par les Associés en assemblée générale

de temps en temps de la manière requise pour la modification de ces Statuts.

Art. 7. Sous condition d'agrément écrit des Associé(s) le(s) gérant(s) peu(ven)t décider de racheter, intégralement ou

partiellement, les parts sociales.

Si le(s) gérant(s) décide(nt) du rachat de parts sociales, il(s) donnera/ont aux détenteurs de ces parts sociales un préavis

de rachat qu'il(s) jugera/ont raisonnable.

Chaque Associé signera ou remettra tout document ou instrument ou prendra toute mesure tels que requis par la

Société afin de permettre la prise d'effet de ces dispositions. Chaque gérant en fonction de temps à autre est par les
présentes investi d'une procuration par chacun des Associés afin d'exécuter ou de remettre tout document ou instrument
ou de prendre toute mesure au nom et pour le compte de cet Associé dans la mesure où ce dernier Associé néglige de
le faire.

Lorsqu'une part sociale est rachetée, le détenteur de cette part sociale perd tous les droits y afférents (à l'exception

du droit de percevoir un dividende qui a été déclaré avant ce rachat).

Le(s) gérant(s) procèdera/ont au rachat de parts sociales par l'utilisation des réserves distribuables ou par la réémission

immédiate de ces parts sociales à de nouveaux Associés. Sinon, le(s) gérant(s) peu(ven)t, à sa/leur discrétion, décider
l'annulation des parts sociales rachetées et il lui/leur est dès lors permis de prendre toute action afin d'enregistrer la
modification des Statuts de la Société et de publier cette modification conformément à la législation luxembourgeoise en
vigueur.

Art. 8. Les parts sociales de la Société sont librement cessibles entre Associés.
Elles ne peuvent être cédées entre vifs à des non-Associés que moyennant l'agrément donné par les Associés en

assemblée générale représentant au moins les trois quarts du capital social.

Art. 9. Le décès, l'interdiction, la faillite ou déconfiture de l'un des Associés ne mettent pas fin à la Société.

Art. 10. Ni les créanciers, ni les héritiers ne pourront pour quelque motif que ce soit, faire apposer des scellés sur les

biens et documents de la Société en raison de leurs dettes.

Art. 11. La Société est gérée par un (1) ou plusieurs gérants, Associés ou non, nommés par le(s) Associé(s). Si plusieurs

gérants sont nommés, ils forment un conseil de gérance (le "Conseil de Gérance").

Le(s) gérant(s) est/sont nommé(s) par le(s) Associé(s) et est/sont révocable(s) ad nutum par celui/ceux-ci.
Le(s) gérant(s) a/ont vis-à-vis des tiers les pouvoirs les plus étendus pour agir au nom de la Société dans toutes les

circonstances et pour faire ou autoriser les actes et opérations relatifs à ses objets.

Les gérants peuvent nommer un président du Conseil de Gérance et déterminer la durée pour laquelle il est nommé.

Si aucun président n'est nommé ou lorsque le président nommé n'est pas présent dans les cinq (5) minutes qui suivent
l'heure fixée pour la réunion, les gérants peuvent choisir parmi eux et nommer un nouveau président. Le président est
toujours requis d'être physiquement présent à Luxembourg sauf décision contraire des gérants.

Un gérant pourra participer à la réunion du Conseil de Gérance par conférence téléphonique ou tout autre moyen

de communication permettant aux personnes présentes de communiquer entre elles. Un gérant qui assiste à la réunion
de la façon décrite ci-dessus sera considéré comme ayant été présent en personne. Sauf décision contraire des gérants,
la réunion est considérée avoir été tenue au lieu où le président a initié la réunion.

Un gérant peut se faire représenter lors des réunions du Conseil de Gérance, à condition de remettre une procuration

écrite à la personne de son choix. Cette personne doit nécessairement être un autre membre du Conseil de Gérance.
Le vote du représentant sera traité comme si le gérant représenté avait voté en personne.

Pour être valides, les résolutions du Conseil de Gérance doivent être approuvées par le vote d'au moins une majorité

simple des gérants en fonction au moment de la résolution. En cas de partage de voix, un président du Conseil de Gérance,
qui pourra être nommé, n'aura pas de vote prépondérant.

Les résolutions écrites signées par les gérants auront la même validité et efficacité que si elles avaient été prises lors

d'une réunion dûment convoquée et tenue. Ces signatures pourront figurer sur un document unique ou sur plusieurs
copies d'une même résolution et pourront être prouvées par lettre, téléfax ou tous moyens similaires de communication.

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U X E M B O U R G

Sauf les matières pour lesquelles l'agrément du/des Associé(s) est requis en application de l'Article 14, chaque gérant

peut engager la Société par sa seule signature pour toute transaction d'une valeur de vingt-cinq mille Euro (EUR 25.000,-)
ou moins. Le(s) gérant(s) peu(ven)t déléguer le pouvoir de signature à tout gérant ou à tout tiers pour engager la Société
dans le contexte d'une transaction spécifique.

Art. 12. La Société indemnisera, dans le sens le plus large permis par la loi, toute personne qui est ou qui a été, un

gérant ou fondé de pouvoir de la Société, de toutes responsabilité et dépenses raisonnablement occasionnées ou payées
par cette personne en relation avec toutes enquêtes, demandes, actions ou tous procès dans lesquels elle a été impliquée
en tant que partie ou auxquels elle est ou aura été partie en sa qualité de gérant ou de fondé de pouvoir de la Société
ou pour avoir été à la demande de la Société, gérant ou fondé de pouvoir de toute autre société dont la société est
actionnaire ou créancière et par laquelle elle ne serait pas indemnisée ainsi que des montants payés ou occasionnés par
elle dans le cadre du règlement de ceux-ci, sauf le cas où dans pareils enquêtes, demandes, actions ou procès, elle sera
finalement condamnée pour négligence ou faute ou mauvaise administration dans l'exécution de son mandat; en cas
d'arrangement extrajudiciaire, une telle indemnité ne sera accordée que pour des matières couvertes par l'arrangement
dont un tribunal compétent a approuvé l'arrangement ou si la Société est informée par son avocat-conseil que la personne
en question n'a pas commis un tel manquement à ses devoirs.

Art. 13. Le(s) gérant(s) ne contracte(nt) à raison de sa/leur fonction aucune obligation personnelle relativement aux

engagements régulièrement pris par lui/eux au nom de la Société. Il(s) est/sont un/de simple(s) mandataire(s) et ne est/
sont responsable(s) que de l'exécution de son/leur mandat.

Art. 14. Chaque Associé peut participer aux décisions collectives quel que soit le nombre de parts qui lui appartient.
Les matières suivantes requièrent un agrément écrit préalable du/des Associé(s):
- les dépenses ou investissements par la Société ou ses filiales pour un montant qui excède vingt-cinq mille Euro (EUR

25.000,-);

- toute vente, transfert ou aliénation (y compris pour éviter toute confusion la mise en nantissement) de tout ou d'une

partie substantielle des actifs de la Société ou de chacune de ses filiales;

- la constitution d'une filiale par la Société;
- la modification des statuts d'une filiale;
- la dissolution d'une filiale;
- l'émission ou le rachat de tout instrument de dette ou de capital;
- le rachat de parts sociales.
Chaque Associé a un nombre de voix égal au nombre de parts sociales qu'il possède. Chaque Associé peut se faire

valablement représenter aux assemblées générales par un porteur de procuration spéciale.

Art. 15. L'année sociale de la Société commence le premier janvier et finit le trente et un décembre.

Art. 16. Chaque année, le trente et un décembre, les comptes de la Société sont arrêtés et le(s) gérant(s) dresse(nt)

un inventaire comprenant l'indication des valeurs actives et passives de la Société ainsi que les comptes sociaux.

Art. 17. Tout Associé peut prendre au siège social de la Société communication de l'inventaire et des comptes sociaux.

Art. 18. Les produits de la Société constatés dans l'inventaire annuel, déduction faite des frais généraux et amortisse-

ments et charges, constituent le bénéfice net de la Société.

Sur le bénéfice net, il est prélevé cinq pourcent (5%) pour la constitution d'un fonds de réserve jusqu'à ce que celui-

ci ait atteint dix pourcent (10%) du capital social. Le solde est à la libre disposition du/des Associé(s).

Un dividende déclaré sera distribué à/aux Associé(s) en proportion du nombre des parts sociales qu'il(s) détien(nen)

t. Le(s) détenteur(s) de parts sociales émises avec une prime d'émission pourra/ont recevoir des distributions non seu-
lement en rapport avec le capital social, mais également en rapport avec les primes d'émission payées, dont il y a lieu de
déduire toute distribution de ces primes d'émission au(x) détenteur(s) de ces parts sociales ou toute partie de ces primes
d'émission utilisée pour compenser les moins-values réalisées ou latentes.

Le(s) gérant(s) est/sont autorisé(s) à procéder autant de fois qu'il(s) le juge(nt) opportun et à tout moment de l'année

sociale, au paiement des dividendes intérimaires sous le respect seulement des deux (2) conditions suivantes: le(s) gérant
(s) ne peu(ven)t prendre la décision de distribuer des dividendes intérimaires que sur la base de comptes intérimaires
préparés dans les trente (30) jours avant la date desdites décisions de déclaration de dividendes; les comptes intérimaires,
qui ne doivent pas être audités, doivent attester qu'il existe un bénéfice distribuable suffisant.

Art. 19. Lors de la dissolution de la Société, la liquidation sera faite par un (1) ou plusieurs liquidateurs, Associés ou

non, et nommés par l'assemblée générale de la Société.

Art. 20. Pour tout ce qui n'est pas prévu dans les présents Statuts, chacun des Associés se réfère aux dispositions

légales.

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U X E M B O U R G

Disposition spéciale

Le premier exercice social commence le jour de la constitution et finit le 31 décembre 2013.

Souscription

Les statuts de la Société ayant ainsi été établis, l'associé fondateur susmentionné déclare vouloir souscrire le total du

capital de la manière suivante:

VEREF I INVEST CO 1 S.À R.L., prénommée . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

125.000 parts sociales

TOTAL: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

125.000 parts sociales

Toutes ces parts sociales ont été libérées intégralement en numéraire, de sorte que la somme de douze mille cinq

cent Euro (EUR 12.500,-) se trouve dès à présent à la libre disposition de la Société.

Frais

Le montant des frais, dépenses, rémunérations ou charges, sous quelque forme que ce soit, qui incombent à la société,

ou qui sont mis à sa charge à raison de sa constitution, s'élève approximativement à mille cinq cents euros (EUR 1.500,-).

Assemblée générale extraordinaire

Après la constitution de la Société, l'associé fondateur prénommé a pris les résolutions suivantes:
1) Le nombre des gérants est fixé à une (1) personne.
2) Est nommé gérant pour une période indéterminée:
- M. Francesco Biscarini, gérant de sociétés, né à Perugia (Italie) le 23 février 1971, avec résidence professionnelle au

22, rue Michel Welter, L-2730 Luxembourg.

3) Le siège social de la Société est établi au 22, rue Michel Welter, L-2730 Luxembourg.
Le notaire soussigné qui comprend et parle la langue anglaise, déclare que sur la demande de la personne représentant

le comparant, le présent acte de société est rédigé en langue anglaise suivi d'une traduction française. A la demande de
la même personne, il est spécifié qu'en cas de divergences entre la version anglaise et la version française, le texte anglais
fera foi.

DONT ACTE passé à Howald, date qu'en tête des présentes.
Lecture faite à la personne représentant le comparant, connue du notaire instrumentant par nom, prénom, état et

demeure, ladite personne a signé avec le notaire le présent acte.

Signé: Frank, Kesseler
Enregistré à Esch/Alzette Actes Civils, le 27 mars 2013. Relation: EAC/2013/4180. Reçu soixante-quinze euros 75,00

€

Le Receveur ff.

(signé): M. HALSDORF.

POUR EXPEDITION CONFORME.
Référence de publication: 2013053085/399.
(130064407) Déposé au registre de commerce et des sociétés de Luxembourg, le 24 avril 2013.

Eumi Tra Holdings S.à r.l., Société à responsabilité limitée,

(anc. Mikado Holdings S.à r.l.).

Capital social: EUR 13.620,00.

Siège social: L-1653 Luxembourg, 2-8, avenue Charles de Gaulle.

R.C.S. Luxembourg B 174.406.

In the year two thousand and thirteen, on the nineteenth day of April
Before Us, Maître Gerard LECUIT, notary residing in Luxembourg (Grand Duchy of Luxembourg), as undersigned,
Was held an extraordinary general meeting (the "Meeting") of the shareholders of Mikado Holdings S.à r.l., a Luxem-

bourg société à responsabilité limitée validly established and existing under the laws of the Grand-Duchy of Luxembourg,
with its registered office at Le Dôme, Entrée C, 2

étage, 2-8 Avenue Charles de Gaulle, L-1653 Luxembourg, Grand-

Duchy of Luxembourg, having a share capital of EUR 13,260 and registered with the Luxembourg Trade and Companies
Register (Registre de Commerce et des Sociétés, Luxembourg), under number B 174406 (the "Company"). The Company
has been incorporated under the laws of the former Netherlands Antilles and formerly existed under the laws of Curaçao
before having migrated its registered seat and central administration to Luxembourg on 20 December 2012, pursuant to
a deed of Maître Joëlle BADEN, notary residing in Luxembourg, Grand Duchy of Luxembourg, published in the Mémorial
C, Recueil des Sociétés et Associations n° 480 of 27 February 2013.

The Meeting is chaired by Ms. Catherine NOENS, private employee, professionally residing in Luxembourg (the

"Chairman").

The Chairman appoints Mr. Benoît CAILLAUD, lawyer, professionally residing in Luxembourg (the "Secretary").

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U X E M B O U R G

The Meeting elects Mr. Antoine REILLIER, jurist, professionally residing in Luxembourg (the "Scrutineer").
The Chairman, the Secretary and the Scrutineer are collectively referred to hereafter as the "Bureau".
The shareholders of the Company represented at the Meeting and the number of shares they hold are indicated on

an attendance list, which will remain attached to the present minutes after having been signed by the representatives of
the shareholders and the members of the Bureau.

The proxies from the shareholders of the Company represented at the Meeting, after having been signed ne varietur

by the proxy holder and the undersigned notary, shall also remain attached to the present deed to be filed with such
deed with the registration authorities.

The Bureau having thus been validly constituted, the Chairman requests the notary to record the following:

1. Regularity. It appears from the attendance list that all of the 30 (thirty) shares, having a par value of EUR 454 (four

hundred and fifty four Euros) each, representing the entire subscribed share capital of the Company are present or duly
represented at the Meeting, which is thus regularly constituted and can validly deliberate on the agenda hereinafter
reproduced, the shareholders represented at the Meeting having agreed to meet after examination of the agenda.

2. Preamble.
2.1 Factual background
The Company currently holds 100% of the corporate units in the share capital of "Eumi Tra" Holding Company B.V./

S.à r.l. ("Eumi"), a company incorporated in the Netherlands having transferred its central administration to Luxembourg
at Le Dôme, Entrée C, 2e étage, 2-8 Avenue Charles de Gaulle, L-1653 Luxembourg, Grand-Duchy of Luxembourg on
20 December 2012. Further to the said transfer, Eumi has adopted the form of a Luxembourg société à responsabilité
limitée and was registered with the Trade and Companies Register of Luxembourg (Registre de Commerce et des So-
ciétés, Luxembourg) under the number B174402. Its share capital is set at forty-five thousand three hundred and seventy-
eight Euros (EUR 45,378.-) and is represented by one hundred (100) shares of a nominal value of four hundred and fifty-
three Euros and seventy-eight Cents (EUR 453.78). Its registered office in Netherlands is located at Naritaweg 165,
Telestone 8, 1043 BW Amsterdam. Eumi is still registered with the Companies Register of Netherlands under number
33138091.

The Company and Eumi have decided to proceed with a simplified cross-border merger by absorption, the Company

being the absorbing company and Eumi being the absorbed Company (the "Merger").

Further to the Merger, it is planed to restate article 4 of the Articles of association of the Company (the "Articles")

and change the name of the Company.

2.2 Formalities accomplished prior to the Meeting
On the 18

February, in contemplation of the Merger and pursuant to article 265 (3) of the Luxembourg Company

Act of 10 August 1915 on commercial companies, as amended, (the "Law of 1915"), the shareholders of the Company
passed circular resolutions approving that the board of managers of the Company is not required to draw up the report
referred to in the article 265 of the Law of 1915.

On same day, the sole shareholder of Eumi, the Company, passed similar resolutions.
The common draft terms of merger, referred to in article 261 of the Law of 1915 and drawn up by the board of

managers of the Company and of Eumi in compliance with the above legal requirements and with Dutch law (the "Terms")
were executed in the form of a notarial deed before Maítre Gérard Lecuit, notary residing in Luxembourg (Grand Duchy
of Luxembourg), on 21 February 2013 and published in the Luxembourg Official Gazette Memorial C, Recueil des Sociétés
et Associations on 6th March 2013. The Terms were similarly published in the Dutch official gazette on 12 March 2013.

On 21 February 2013, the shareholders of the Company were notified that pursuant to article 267 of the Law of 1915,

they were entitled to inspect at the registered office of the Company the following documents:

- the Terms;
- the annual accounts and the annual reports of the Company and of Eumi for the last three financial years;
- an interim accounting statement referring to a maximum period of three months before the common draft terms of

merger of the Company and Eumi;

and that a full copy or, if so desired, a partial copy of these documents may be obtained upon request and free of

charge.

Now, according to article 263 (1) together with article 279 (2) of the Law of 1915, the Merger requires the approval

of the general meeting of the Company as the absorbing company in the conditions as to quorum and majority laid down
for the amendments of the Articles.

2.3 Legal
According to article 267 (1) of the Law of 1915, "every member shall be entitled to inspect the following documents

at the registered office at least one month before the date of the general meeting called to decide on the common draft
terms of merger:

- the common draft terms of merger;
- the annual accounts and the management reports of the merging companies for the last three financial years;

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- (...) an accounting statement drawn up as at a date which must not earlier than the first day of the third month

preceding the date of the common draft terms of merger, if the last annual accounts relate to a financial year which ended
more than six months before that date; [...]".

Furthermore, according to article 262 of the Law of 1915,"
1) The common draft terms shall be published in accordance with Article 9 and in the National Gazette of each Member

State concerned, for each of the merging companies at least one month before the date of the general meeting convened
to decide on the common draft terms of merger.

2) In case of a cross-border merger, the publication shall also include following particulars:
a) The type, name and registered office of the merging company,
b) The register of commerce and companies in which the documents referred to in Article 9 are filed by the acquiring

company and the number of the entry in that register, if it is a Luxembourg company; if the legislation of the State of the
foreign law governed company provides for a register, the register in which the documents referred to in Article 3(2) of
Directive 68/151/CEE of the Council of 9

March, 1968 on coordination of safeguards which, for the protection of the

interests of members and others are required by Member States of companies within the meaning of the second paragraph
of Article 58 of the Treaty, with a view to making such safeguards equivalent throughout the Community have been filed
by the foreign law governed company provides for a registration number in that registry, the registration number in that
register;

c) An indication, for each of the merging companies, of the arrangements made for the exercise of the rights of creditors

of such company and the address at which complete information on those arrangements may be obtained free of charge."

Besides, according to article 24 of the Articles, entitled "Amendment of the Articles of Association":
"At any general meeting ofshareholders convened for the purpose of amending these Articles of Association or voting

on resolutions whose adoption is subject to the quorum and majority requirements of an amendment to these Articles
of Association, the majority requirements shall be a majority of shareholders in number representing at leat three quarters
(3/4) of the capital of the Company."

Finally, pursuant to article 11 of the Law of 1915, "Any contractual amendment to the instrument of a company must,

on pain of nullity, be made in the form required for the constitutive instrument of the company."

3. Agenda. The agenda of the Meeting is as follows:
- Approving the Terms;
- Acknowledging that documents referred to in article 267 of the Law of 1915 have been made available to all the

shareholders of the Company at its registered office at least one month before the Meeting;

- Approving the amendment of the article 4 of the Articles so that its new wording shall be the following:

« Art. 4. Object. The object of the Company is all transactions pertaining directly or indirectly to the taking of parti-

cipating interests in Luxembourg or foreign companies, or in any companies or enterprises in any form whatsoever, as
well as the administration, the management, the control and the development of such participations, as well as the entry
into joint venture of a corporate or contractual form.

The Company may also do any other form of investment, including in particular, the acquisition of any type of securities,

whether negotiable or not, stock bonds, debentures, notes and other securities, including those issued by any government
or any other international, national or local authority, and of any rights attached thereto, either by way of purchase,
contribution, subscription, option or in any other manner, as well as the transfer by sale, exchange or in any other manner.
Moreover, the Company may proceed to the acquisition and development of connected patents and licences.

The Company may also invest in real estate or any other kind or form of immovable or movable property.
The Company may borrow in any kind or form and carry out the issuance of bonds, notes convertible bonds, deben-

tures and any other type of equity or debt securities. However no loan may be obtained by the public issue of bonds nor
may shares be subject of a public issue.

The Company may also grant any securities or guarantees in favour of third parties to secure its obligations. The

Company may further pledge, transfer, encumber or otherwise create securities over all or some of its assets.

The Company may further guarantee, grant loans or otherwise assist the companies (by way of loans, advances,

guarantees or securities or otherwise) in which it holds a direct or indirect participation.

The company has all powers necessary to the accomplishment or the development of its object, carry out any com-

mercial, industrial or financial activities which it may deem useful in the accomplishment of its object."

- Approving to change the name of the Company into "Eumi Tra Holdings S.à r.l." and the subsequent modification of

the Articles and specifically of article 1§2;

- Miscellaneous.

4. Documents provided to the shareholders of the company. The shareholders of the Company have been provided

with the following documents (the "Documents"):

- the Terms, as executed in the form of a notarial deed;

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- the extract of the Mémorial C, Recueil des Sociétés et Associations in which the Terms were published;
- the extract of the Dutch official gazette in which the Terms were published;
- the certificate issued by Maître Kjell Stelling, notary professionally residing in Amsterdam (Netherlands), attesting

the correct completion of the pre-merger acts and formalities for the part of the procedure relating to Eumi and attesting
of the compliance of the Terms to Dutch law;

- the draft of the Articles amended as proposed in the Meeting's agenda.

5. Resolutions. After a careful examination of the Documents, the Meeting after having unanimously waive the con-

vening notices - the shareholders of the Company represented considering themselves as duly convened and declaring
having perfect knowledge of the agenda which has been communicated to them in advance - has taken the following
resolutions:

First resolution

The Meeting unanimously and unconditionally approves the Terms.

Second resolution

The Meeting acknowledges that the documents referred to in article 267 of the Law of 1915 have been made available

to all the shareholders of the Company at its registered office at least one month before the Meeting.

Third resolution

The Meeting unanimously resolves to amend the article 4 of the Articles so that its new wording shall be the following: