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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° 2372

26 septembre 2013

SOMMAIRE

Eyre S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113856

Galeria Kaufhof Holding S.à r.l. . . . . . . . . . .

113819

Lux Pro Clean . . . . . . . . . . . . . . . . . . . . . . . . .

113853

Moringa S.C.A., SICAR . . . . . . . . . . . . . . . . .

113822

QGX Golden Hills S.àr.l. . . . . . . . . . . . . . . . .

113810

QGX Metals S.àr.l. . . . . . . . . . . . . . . . . . . . . .

113810

Racing & Competition Machines . . . . . . . . .

113811

Racing & Competition Machines . . . . . . . . .

113811

Rawstone Business Holding S.A. . . . . . . . . .

113813

Real Estate Asset Management S.A. . . . . .

113812

Réalisations Techniques et Commerciales

Internationales S.A. . . . . . . . . . . . . . . . . . . .

113811

Risk & Reinsurance Solutions S.A. en abré-

gé "2RS" . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113811

RM2 S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113812

Rock Ridge RE 14 . . . . . . . . . . . . . . . . . . . . . .

113810

ROMAKA, société à responsabilité limitée

& Cie . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113812

Rovari S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113813

Rovere Sicav . . . . . . . . . . . . . . . . . . . . . . . . . . .

113810

Sandalfin S.A. . . . . . . . . . . . . . . . . . . . . . . . . . .

113816

Sanibel Partecipations Ltd . . . . . . . . . . . . . .

113816

Sarafina S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .

113812

Sarnia S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . .

113817

Sasori . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113813

Schreinerei Gangolf S. à r.l. . . . . . . . . . . . . .

113814

SCM International Private Equity Select IV

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

113817

SDP Lux S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .

113817

Self Service Rocade Sàrl . . . . . . . . . . . . . . . .

113818

Semeraro Investments S.A. . . . . . . . . . . . . .

113817

Sems Internationale S.A. . . . . . . . . . . . . . . .

113818

Sentrylux S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .

113819

Serco Luxembourg S.A. . . . . . . . . . . . . . . . .

113818

Serrurerie Marc Bouchart s.à r.l. . . . . . . . .

113819

SGAM AI HDG Partners . . . . . . . . . . . . . . . .

113818

SGAM AI Hudson . . . . . . . . . . . . . . . . . . . . . .

113819

Shangri Finance S.A. . . . . . . . . . . . . . . . . . . .

113819

Shelley Bay Finance S.A. . . . . . . . . . . . . . . . .

113820

Shining Investments S.A. . . . . . . . . . . . . . . .

113820

SHR Grosvenor Square S. à r.l. . . . . . . . . . .

113820

Sielac S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . .

113856

SIGNA Prime Luxembourg Holding S.à r.l.

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

113819

Signet Luxembourg Finance S.à r.l. . . . . . .

113814

Signet Luxembourg Holdings S.à r.l. . . . . .

113814

Signet Luxembourg S.à r.l. . . . . . . . . . . . . . .

113815

Silvanus Property S.A. . . . . . . . . . . . . . . . . . .

113856

Silver Spring Funds . . . . . . . . . . . . . . . . . . . . .

113815

Sipar Immo S.A. . . . . . . . . . . . . . . . . . . . . . . .

113821

SIPF II B S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .

113813

Sixtine Capital . . . . . . . . . . . . . . . . . . . . . . . . .

113813

S.L.E.G. S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .

113811

Société Nationale de Circulation Automo-

bile S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113821

Société Nationale de Contrôle Technique

S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113812

Socomet S.A. . . . . . . . . . . . . . . . . . . . . . . . . . .

113822

SOLAR and RENEWABLE ENERGY IN-

VESTMENTS S.A. en abrégé SO.R.E.I.
S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113821

Solarex S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .

113815

Sonara S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113815

Springer Science + Business Media S.A. . .

113815

Stanton CDO I S.A. . . . . . . . . . . . . . . . . . . . .

113816

St Mark S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . .

113822

Stock Spirits Group Luxembourg Holdings

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

113820

Stroud Luxembourg Sàrl . . . . . . . . . . . . . . .

113816

SwissCaps Holding (Luxembourg) S.à r.l.

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

113814

Technology in Central and Eastern Europe

Lux S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

113820

Tropez International S.à r.l. . . . . . . . . . . . . .

113821

113809

U X E M B O U R G

QGX Golden Hills S.àr.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-2522 Luxembourg, 6, rue Guillaume Schneider.

R.C.S. Luxembourg B 138.489.

EXTRAIT

Il résulte des décisions prises par l'Associé Unique de la Société en date du 4 juillet 2013:
1. La démission de Madame Céline PIGNON gérant a été acceptée avec effet au 1

août 2013.

2. Monsieur Patrick MOINET, né le 6 juin 1975 à Bastogne (Belgique) et demeurant au 156, rue Albert Unden L-2652

Luxembourg a été nommé gérant avec effet au 1

août 2013 et ce pour une durée indéterminée.

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

Luxembourg, le 1

août 2013.

Référence de publication: 2013111561/16.
(130135250) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

QGX Metals S.àr.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-2522 Luxembourg, 6, rue Guillaume Schneider.

R.C.S. Luxembourg B 138.488.

EXTRAIT

II résulte des décisions prises par l'Associé Unique de la Société en date du 4 juillet 2013:
1. La démission de Madame Céline PIGNON gérant a été acceptée avec effet au 1

août 2013.

2. Monsieur Patrick MOINET, né le 6 juin 1975 à Bastogne (Belgique) et demeurant au 156, rue Albert Unden L-2652

Luxembourg a été nommé gérant avec effet au 1

août 2013 et ce pour une durée indéterminée.

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

Luxembourg, le 1

août 2013.

Référence de publication: 2013111562/16.
(130135251) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Rock Ridge RE 14, Société à responsabilité limitée.

Siège social: L-1660 Luxembourg, 22, Grand-rue.

R.C.S. Luxembourg B 129.244.

Der Jahresabschluss vom 31 Dezember 2012 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinter-

legt.

Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.

Nuno Aniceto.

Référence de publication: 2013111568/11.
(130134652) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Rovere Sicav, Société d'Investissement à Capital Variable.

Siège social: L-2212 Luxembourg, 6, place de Nancy.

R.C.S. Luxembourg B 144.972.

Pour la société
Signature

Référence de publication: 2013111596/11.
(130134476) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113810

U X E M B O U R G

R.T.C.I. S.A., Réalisations Techniques et Commerciales Internationales S.A., Société Anonyme.

Siège social: L-8011 Strassen, 281, route d'Arlon.

R.C.S. Luxembourg B 115.905.

Fait à Luxembourg, le 1

août 2013.

Référence de publication: 2013111563/10.
(130134463) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Risk & Reinsurance Solutions S.A. en abrégé "2RS", Société Anonyme.

Siège social: L-2163 Luxembourg, 23, avenue Monterey.

R.C.S. Luxembourg B 94.494.

Pour la Société

Référence de publication: 2013111566/10.
(130135099) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Racing & Competition Machines, Société à responsabilité limitée.

Siège social: L-6131 Junglinster, Z.I. Langwies.

R.C.S. Luxembourg B 14.064.

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.

Signature.

Référence de publication: 2013111571/10.
(130134948) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Racing & Competition Machines, Société à responsabilité limitée.

Siège social: L-6131 Junglinster, Z.I. Langwies.

R.C.S. Luxembourg B 14.064.

Les comptes annuels au 31 décembre 2009 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Signature.

Référence de publication: 2013111573/10.
(130134950) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

S.L.E.G. S.A., Société Anonyme.

Siège social: L-1931 Luxembourg, 13-15, avenue de la Liberté.

R.C.S. Luxembourg B 116.910.

Les comptes annuels rectifiés au 31 décembre 2012, ainsi que les informations et documents annexes ont été déposés

au registre de commerce et des sociétés de Luxembourg.

dépôt le 8 juillet 2013, numéro de dépôt L130112929.

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

Luxembourg, le 30 juillet 2013.

Signature
Un mandataire

Référence de publication: 2013111599/14.
(130134840) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113811

U X E M B O U R G

Real Estate Asset Management S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 15, boulevard Royal.

R.C.S. Luxembourg B 82.371.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Senningerberg, le 1

août 2013.

Référence de publication: 2013111584/10.
(130134553) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

RM2 S.A., Société Anonyme.

Siège social: L-1325 Luxembourg, 5, rue de la Chapelle.

R.C.S. Luxembourg B 143.964.

Le bilan et annexes pour la période du 1

janvier 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: 2013111593/10.
(130135481) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

ROMAKA, société à responsabilité limitée & Cie, Société en Commandite simple.

Siège social: L-1661 Luxembourg, 99, Grand-rue.

R.C.S. Luxembourg B 27.595.

Luxembourg, le 31 juillet 2013.

Référence de publication: 2013111594/10.
(130135211) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

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

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

R.C.S. Luxembourg B 132.877.

Les comptes annuels pour la période du 1

janvier 2012 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.

Signature.

Référence de publication: 2013111600/11.
(130134479) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Société Nationale de Contrôle Technique S.A., Société Anonyme.

Siège social: L-5230 Sandweiler, 11, rue de Luxembourg.

R.C.S. Luxembourg B 166.216.

EXTRAIT

L'Assemblée Générale Ordinaire du 14 juin 2013 a:
- décide, sur proposition du Conseil d'Administration, de renouveler le mandat comme réviseur d'entreprises IN-

TERAUDIT, n° RCS B29501 avec siège social à 119, avenue de la Faïencerie, L-1511 Luxembourg pour un an.

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

Luxembourg, le 29 juillet 2013.

Signature.

Référence de publication: 2013111654/13.
(130134895) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113812

U X E M B O U R G

Rawstone Business Holding S.A., Société Anonyme.

Siège social: L-1931 Luxembourg, 11, avenue de la Liberté.

R.C.S. Luxembourg B 164.314.

Extrait des résolutions prises lors de l'assemblée générale ordinaire tenue en date du 30 juillet 2013

En date du 30 juillet 2013, l'Assemblée accepte la démission de Monsieur Philippe Schmit en tant qu'administrateur

unique de la Société.

A cette même date, l'Assemblée décide de nommer Monsieur Abramczyk Emmanuel, Administrateur, résidant pro-

fessionnellement à L-1931 Luxembourg, 11, avenue de la Liberté en tant que nouvel administrateur unique de la Société
avec effet immédiat et pour une durée de six ans jusqu'à l'Assemblée Générale en 2019.

Pour extrait
Pour la Société

Référence de publication: 2013111577/15.
(130134369) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Rovari S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 8, boulevard Royal.

R.C.S. Luxembourg B 146.601.

Signature.

Référence de publication: 2013111595/10.
(130135538) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sasori, Société à responsabilité limitée unipersonnelle.

Siège social: L-1855 Luxembourg, 51, avenue J.F. Kennedy.

R.C.S. Luxembourg B 140.278.

Luxembourg, le 1

août 2013.

SANNE GROUP (Luxembourg) S.A.

Référence de publication: 2013111602/11.
(130135262) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SIPF II B S.à r.l., Société à responsabilité limitée.

Siège social: L-1736 Senningerberg, 5, Höhenhof.

R.C.S. Luxembourg B 142.050.

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: 2013111648/9.
(130134734) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sixtine Capital, Société à responsabilité limitée.

Siège social: L-8308 Capellen, 75, Parc d'Activités.

R.C.S. Luxembourg B 162.785.

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: 2013111649/9.
(130135258) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113813

U X E M B O U R G

Schreinerei Gangolf S. à r.l., Société à responsabilité limitée.

Siège social: L-9991 Weiswampach, 4, Am Hock.

R.C.S. Luxembourg B 134.305.

Signature.

Référence de publication: 2013111603/10.
(130135361) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Signet Luxembourg Finance S.à r.l., Société à responsabilité limitée.

Capital social: USD 2.450.000,00.

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

R.C.S. Luxembourg B 146.368.

EXTRAIT

L’Assemblée Générale des Associés tenue en date du 1

août 2013, a approuvé les résolutions suivantes:

- La démission de Ivo Hemelraad, en tant que gérant B de la Société, est acceptée avec effet immédiat.
- Jean Marc McLean, avec adresse professionnelle au 15 rue Edward Steichen, L-2540 Luxembourg, est élu nouveau

gérant B de la Société avec effet immédiat et pour une durée indéterminée.

Pour extrait conforme.

Luxembourg, le 2 août 2013.

Référence de publication: 2013111605/15.
(130135426) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Signet Luxembourg Holdings S.à r.l., Société à responsabilité limitée.

Capital social: USD 60.000,00.

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

R.C.S. Luxembourg B 146.366.

EXTRAIT

L’Assemblée Générale des Associés tenue en date du 1

août 2013, a approuvé les résolutions suivantes:

- La démission de Ivo Hemelraad, en tant que gérant de la Société, est acceptée avec effet immédiat.
- Virginia Strelen, avec adresse professionnelle au 15 rue Edward Steichen, L-2540 Luxembourg, est élu nouveau gérant

de la Société avec effet immédiat et pour une durée indéterminée.

Pour extrait conforme.

Luxembourg, le 2 août 2013.

Référence de publication: 2013111606/15.
(130135427) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SwissCaps Holding (Luxembourg) S.à r.l., Société à responsabilité limitée.

Siège social: L-2227 Luxembourg, 29, avenue de la Porte-Neuve.

R.C.S. Luxembourg B 110.638.

Extrait des résolutions prises par l'actionnaire unique en date du 2 juillet 2013

L'actionnaire unique décide de renouveler le mandat de la société PricewaterhouseCoopers, ayant son siège social au

400, route d'Esch, L-1471 Luxembourg, en tant que réviseur d'entreprises agréé.

Le mandat du réviseur d'entreprises agréé ainsi nommé viendra à échéance à l'issue de l'assemblée générale annuelle,

qui se tiendra en 2014, approuvant les comptes annuels au 31 décembre 2013.

Pour extrait conforme
SwissCaps Holding (Luxembourg) S.à r.l.

Référence de publication: 2013111617/14.
(130134879) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113814

U X E M B O U R G

Signet Luxembourg S.à r.l., Société à responsabilité limitée.

Capital social: USD 30.000,00.

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

R.C.S. Luxembourg B 146.367.

EXTRAIT

L’Assemblée Générale des Associés tenue en date du 1

août 2013, a approuvé les résolutions suivantes:

de la Société avec effet immédiat et pour une durée indéterminée.

Pour extrait conforme.

Luxembourg, le 2 août 2013.

Référence de publication: 2013111607/15.
(130135425) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Silver Spring Funds, Société d'Investissement à Capital Variable.

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

R.C.S. Luxembourg B 75.629.

Le Bilan au 31 mars 2013 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 1

août 2013.

Référence de publication: 2013111611/10.
(130135302) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Springer Science + Business Media S.A., Société Anonyme.

Siège social: L-1445 Strassen, 1A, rue Thomas Edison.

R.C.S. Luxembourg B 89.452.

Les comptes consolidés au 31 décembre 2012 ont été déposés au registre de commerce et des sociétés de Luxem-

bourg.

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

Luxembourg, le 26 juillet 2013.

Référence de publication: 2013111614/11.
(130135366) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

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

Siège social: L-6951 Olingen, 5, rue d'Eschweiler.

R.C.S. Luxembourg B 169.250.

Le bilan au 31 décembre 2012 et l'annexe 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: 2013111660/9.
(130135320) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sonara S.A., Société Anonyme - Société de Gestion de Patrimoine Familial.

Siège social: L-8325 Capellen, 98, rue de la Gare.

R.C.S. Luxembourg B 148.631.

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: 2013111661/9.
(130135311) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113815

U X E M B O U R G

Stanton CDO I S.A., Société Anonyme.

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

R.C.S. Luxembourg B 89.354.

Signature.

Référence de publication: 2013111615/10.
(130135029) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Stroud Luxembourg Sàrl, Société à responsabilité limitée.

Capital social: USD 20.000,00.

Siège social: L-2522 Luxembourg, 6, rue Guillaume Schneider.

R.C.S. Luxembourg B 150.666.

EXTRAIT

Il résulte des décisions écrites de l'associé unique de la Société du 10 juillet 2013 que
1. La démission de Madame Céline PIGNON gérant A, a été acceptée avec effet au 1

août 2013.

2. Monsieur Gérard McCaul, né le 2 décembre 1983 à Monaghan (Irlande) et demeurant professionnellement au 16,

avenue Pasteur L-2310 Luxembourg a été nommé gérant A avec effet au 1

août 2013 et ce pour une durée indéterminée.

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

Luxembourg, le 1

août 2013.

Référence de publication: 2013111616/16.
(130135145) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sandalfin S.A., Société Anonyme Soparfi.

Siège social: L-1219 Luxembourg, 17, rue Beaumont.

R.C.S. Luxembourg B 39.932.

Extrait des résolutions prises lors de l'assemblée générale ordinaire des actionnaires tenue au siège social à Luxembourg, le 25

juillet 2013

Monsieur DE BERNARDI Alexis, Monsieur SARTI Francesco et Monsieur REGGIORI Robert sont renommés admi-

nistrateurs.

Monsieur DE BERNARDI Alexis est renommé Président du Conseil d'administration.
Les nouveaux mandats viendront à échéance lors de l'Assemblée Générale Statutaire de l'an 2016.

Pour extrait sincère et conforme
SANDALFIN S.A.
Robert REGGIORI
Administrateur

Référence de publication: 2013111619/17.
(130135085) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sanibel Partecipations Ltd, Société Anonyme.

Siège social: L-2121 Luxembourg, 231, Val des Bons Malades.

R.C.S. Luxembourg B 143.453.

Luxembourg, le 2 mai 2013.

SG AUDIT SARL

Référence de publication: 2013111620/11.
(130135499) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113816

U X E M B O U R G

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

Siège social: L-8383 Koerich, 23, rue Principale.

R.C.S. Luxembourg B 33.623.

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.

La société
Signature

Référence de publication: 2013111622/11.
(130135490) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SCM International Private Equity Select IV, Société d'Investissement à Capital Variable - Fonds d'Inves-

tissement Spécialisé.

Siège social: L-1855 Luxembourg, 47, avenue J.F. Kennedy.

R.C.S. Luxembourg B 161.912.

Signature.

Référence de publication: 2013111627/11.
(130134928) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SDP Lux S.à r.l., Société à responsabilité limitée.

Capital social: EUR 68.421,79.

Siège social: L-2449 Luxembourg, 3, boulevard Royal.

R.C.S. Luxembourg B 153.496.

Extrait des résolutions prises à Luxembourg par le conseil de gérance de la société en date du 10 juillet 2013

Le conseil de gérance décide de transférer le siège social de la Société du 37, rue d'Anvers, L-1130 Luxembourg au 3,

boulevard Royal, L-2449 Luxembourg, avec effet au 10 juillet 2013.

- L'adresse professionnelle actuelle de Monsieur Jérémie BONNIN, gérant de la Société, est la suivante: 3, boulevard

Royal, L-2449 Luxembourg.

- L'adresse professionnelle actuelle de Monsieur Laurent GODINEAU, gérant de la Société, est la suivante: 3, boulevard

Royal, L-2449 Luxembourg,

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013111629/16.
(130135161) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Semeraro Investments S.A., Société Anonyme.

Siège social: L-1212 Luxembourg, 3, rue des Bains.

R.C.S. Luxembourg B 84.209.

Rectificatif du dépôt du 26/07/2013 numéro L130128783

Extrait du procès-verbal de l'assemblée générale extraordinaire de l'actionnaire unique tenue le 26 juin 2013

Personne chargée du contrôle des comptes:
L'assemblée accepte la démission de la société HRT Révision S.A. de sa fonction de réviseur d'entreprises de la Société

et décide de nommer en son remplacement la société A3T S.A., ayant son siège social au 44, Boulevard Grande-duchesse
Charlotte, L-1330 Luxembourg, en tant que commissaire aux comptes pour la révision des comptes annuels au 31 dé-
cembre 2011.

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

Luxembourg, le 1

août 2013.

Référence de publication: 2013111632/16.
(130134432) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113817

U X E M B O U R G

Self Service Rocade Sàrl, Société à responsabilité limitée.

Siège social: L-1260 Luxembourg, 28, rue de Bonnevoie.

R.C.S. Luxembourg B 70.434.

MORBIN Nathalie.

Référence de publication: 2013111631/10.
(130135144) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Sems Internationale S.A., Société Anonyme.

Siège social: L-1219 Luxembourg, 17, rue Beaumont.

R.C.S. Luxembourg B 30.428.

Extrait des résolutions prises lors de l'assemblée générale ordinaire tenue au siège social en date du 9 juillet 2013

Monsieur Georges DIEDERICH est révoqué de sa fonction d'administrateur.
Monsieur Alexis DE BERNARDI, licencié en sciences économiques, né le 13.02.1975 à Luxembourg, domicilié pro-

fessionnellement au 17, rue Beaumont, L-1219 Luxembourg, est nommé nouvel administrateur.

Son mandat viendra à échéance lors de l'Assemblée Générale Statutaire de l'an 2014.

Pour extrait sincère et conforme
SEMS INTERNATIONALE S.A.
Régis DONATI
Administrateur

Référence de publication: 2013111633/16.
(130135090) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Serco Luxembourg S.A., Société Anonyme Unipersonnelle.

Siège social: L-2449 Luxembourg, 17, boulevard Royal.

R.C.S. Luxembourg B 48.506.

Extrait rectificatif (dépot initial n° L120215984)

Par résolution écrite de l'actionnaire unique en date du 11 décembre 2012, l'actionnaire unique a décidé d'adopter la

résolution suivante:

1. Monsieur Christophe Gaul, né le 03 Avril 1977 à Messancy, Belgique, avec adresse professionnelle au 17, rue des

Jardiniers, L-1835 Luxembourg, a été nommé en tant qu'administrateur de la société avec effet au 19 novembre 2012 et
jusqu'au 19 novembre 2015.

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

Pour extrait sincère et conforme
Signature
Le mandataire

Référence de publication: 2013111635/17.
(130134850) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SGAM AI HDG Partners, Société d'Investissement à Capital Variable.

Siège social: L-1616 Luxembourg, 28-32, place de la Gare.

R.C.S. Luxembourg B 125.975.

Lyxor Asset Management, prend note en qualité de liquidateur du changement, en date du 15 juillet 2013, de l’adresse

du siège social de la Société et du transfert des activités du 16, Boulevard Royal, L-2449 Luxembourg au 28-32, Place de
la gare, L-1616 Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013111637/11.
(130135563) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113818

U X E M B O U R G

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

Siège social: L-9140 Bourscheid, 9, Groussgaass.

R.C.S. Luxembourg B 159.585.

Signature.

Référence de publication: 2013111634/10.
(130135465) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Serrurerie Marc Bouchart s.à r.l., Société à responsabilité limitée.

Siège social: L-8295 Keispelt, 15, rue de Kehlen.

R.C.S. Luxembourg B 74.083.

Luxembourg.

Référence de publication: 2013111636/10.
(130134761) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SGAM AI Hudson, Société d'Investissement à Capital Variable.

Siège social: L-1616 Luxembourg, 28-32, place de la Gare.

R.C.S. Luxembourg B 102.392.

Lyxor Asset Management, prend note en qualité de liquidateur du changement, en date du 15 juillet 2013, de l’adresse

du siège social de la Société et du transfert des activités du 16, Boulevard Royal, L-2449 Luxembourg au 28-32, Place de
la gare, L-1616 Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2013111638/11.
(130135562) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Shangri Finance S.A., Société Anonyme.

Siège social: L-1371 Luxembourg, 223, Val Sainte Croix.

R.C.S. Luxembourg B 100.309.

Luxembourg, le 1

août 2013.

FIDUCIAIRE FERNAND FABER
Signature

Référence de publication: 2013111639/12.
(130134498) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SIGNA Prime Luxembourg Holding S.à r.l., Société à responsabilité limitée,

(anc. Galeria Kaufhof Holding S.à r.l.).

Siège social: L-1736 Senningerberg, 5, Heienhaff.

R.C.S. Luxembourg B 165.801.

Der Jahresabschluss vom 31.12.2012 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinterlegt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.

Compliance Partners S.A.
Signature

Référence de publication: 2013111644/11.
(130135184) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113819

U X E M B O U R G

Shelley Bay Finance S.A., Société Anonyme.

Siège social: L-2450 Luxembourg, 15, boulevard Roosevelt.

R.C.S. Luxembourg B 143.135.

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.

Luxembourg, le 1

août 2013.

FIDUCIAIRE FERNAND FABER
Signature

Référence de publication: 2013111640/12.
(130134814) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Shining Investments S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 8, boulevard Royal.

R.C.S. Luxembourg B 112.947.

Signature.

Référence de publication: 2013111641/10.
(130134909) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SHR Grosvenor Square S. à r.l., Société à responsabilité limitée.

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

R.C.S. Luxembourg B 114.490.

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.

Signature.

Référence de publication: 2013111642/10.
(130135554) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Stock Spirits Group Luxembourg Holdings S.à r.l., Société à responsabilité limitée.

Siège social: L-1420 Luxembourg, 5-7, avenue Gaston Diderich.

R.C.S. Luxembourg B 127.874.

Pour STOCK SPIRITS GROUP LUXEMBOURG HOLDINGS S.à r.l.
United International Management S.A.

Référence de publication: 2013111670/11.
(130135101) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Technology in Central and Eastern Europe Lux S.à r.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

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

R.C.S. Luxembourg B 133.001.

Luxembourg, le 30 juillet 2013.

Anke Jager.

Référence de publication: 2013111677/11.
(130135223) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113820

U X E M B O U R G

Sipar Immo S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 5, boulevard Royal.

R.C.S. Luxembourg B 107.015.

Le bilan au 31.12.2012 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 5/7/2013.

Signature.

Référence de publication: 2013111647/10.
(130134810) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

SOLAR and RENEWABLE ENERGY INVESTMENTS S.A. en abrégé SO.R.E.I. S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 17, boulevard Royal.

R.C.S. Luxembourg B 131.392.

Extrait des résolutions prises lors de l'Assemblée Générale Ordinaire Statutaire du 3 juin 2013:

L'Assemblée Générale décide de renouveler les mandats des administrateurs Madame Luisella MORESCHI, Mme Fré-

dérique VIGNERON et Mme Patricia JUPILLE ainsi que celui du commissaire aux comptes Gordale Marketing Limited
ayant son siège social à Strovolou, 77, Strovolos center, Office 204 Strovolos, P.C. 2018 Nicosia, Chypre jusqu'à l'issue
de l'Assemblée Générale Ordinaire annuelle de 2019.

Luxembourg, le 3 juin 2013.

Pour SOLAR AND RENEWABLE ENERGY INVESTMENTS S.A. SO.R.E.I. S.A.
Signature

Référence de publication: 2013111659/15.
(130134703) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Société Nationale de Circulation Automobile S.à r.l., Société à responsabilité limitée.

Siège social: L-5230 Sandweiler, 11, rue de Luxembourg.

R.C.S. Luxembourg B 6.795.

EXTRAIT

L'Assemblée Générale Ordinaire du 14 juin 2013 a:
- pris acte de la démission de M. Guy AREND en tant qu'administrateur au sein du Conseil d'Administration;
- désigne Mme Viviane RISCHETTE. née le 31 mars 1962 à Luxembourg, demeurant à L-6850 Manternach, 8 um Eer,

comme nouvel administrateur au sein du Conseil d'Administration en remplacement de M. Guy AREND jusqu'à l'As-
semblée Générale de l'année 2015;

- décide, sur proposition du Conseil d'Administration, de renouveler le mandat comme réviseur d'entreprises IN-

TERAUDIT, n° RCS B29501 avec siège social à 119, avenue de la Faïencerie, L-1511 Luxembourg pour un an.

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

Luxembourg, le 29 juillet 2013.

Signature.

Référence de publication: 2013111653/17.
(130134896) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Tropez International S.à r.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-2134 Luxembourg, 56, rue Charles Martel.

R.C.S. Luxembourg B 149.658.

Pour la société
Un mandataire

Référence de publication: 2013111683/12.
(130134413) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

113821

U X E M B O U R G

St Mark S.à r.l., Société à responsabilité limitée.

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

R.C.S. Luxembourg B 133.713.

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: 2013111664/9.
(130135264) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Socomet S.A., Société Anonyme.

Siège social: L-2557 Luxembourg, 18, rue Robert Stümper.

R.C.S. Luxembourg B 55.490.

Luxembourg.

Référence de publication: 2013111657/10.
(130135270) Déposé au registre de commerce et des sociétés de Luxembourg, le 2 août 2013.

Moringa S.C.A., SICAR, Société en Commandite par Actions sous la forme d'une Société d'Investissement

en Capital à Risque.

Siège social: L-2520 Luxembourg, 5, allée Scheffer.

R.C.S. Luxembourg B 173.989.

In the year two thousand thirteen, on the thirteenth day of August.
Before us, Maître Henri Hellinckx, notary residing in Luxembourg, Grand Duchy of Luxembourg.
There was held an extraordinary general meeting of shareholders (hereinafter the "Meeting") of Moringa S.C.A., SICAR,

a société en commandite par actions, having its registered office at 5, allée Scheffer, L-2520 Luxembourg, incorporated
pursuant to a deed of Maître Henri Hellinckx, notary residing in Luxembourg, on 19 December 2012, registered with the
Luxembourg Registre du Commerce et des Sociétés under number B 173989 (hereinafter the "Company").

The Meeting is opened at 3.45 p.m., under the chair of Mr. Mickaël Labigne, professionally residing in Luxembourg.
The chairman appointed as secretary and the meeting elected as scrutineer Mr. Adrian Aldinger, professionally residing

in Luxembourg.

The board of the Meeting having thus been constituted, the chairman declared and requested the notary to state that:
A. The agenda of the Meeting is the following:
1. Amendment of the duration of the Company and consequent amendment of article 2 of the articles of incorporation

(the "Articles");

2. Amendment of article 14 of the Articles in relation to the procedure applicable to the compulsory redemption of

shares;

3. Amendment of the voting rights of shareholders at the general meetings of shareholders and consequent amendment

of articles 24, 25 and 26 of the Articles;

4. Subsequent full restatement of the Articles; and
5. Miscellaneous.
B. The shareholders present or represented, the proxies of the represented shareholders and the number of their

shares are shown on an attendance list; this attendance list and the proxies of the represented shareholders, being signed
by the shareholders, the board of the Meeting and by the public notary, will remain annexed to the present deed to be
filed at the same time for registration purpose;

C. According to the attendance list, out of thirty thousand nine hundred and ninety-nine (30,999) Ordinary Shares and

the one (1) General Partner Share in issue, thirty thousand nine hundred and ninety-nine (30,999) Ordinary Shares and
the one (1) General Partner Share are represented, i.e. 100 % of the issued shares;

D. All shareholders being present or represented and considering themselves as being duly convened and informed of

the agenda, the Meeting may take place without justifying the sending of any convening notice, in accordance with article
24 of the Articles;

E. The present Meeting is therefore regularly constituted and may validly deliberate on all items of the agenda;
Then the Meeting, after deliberation, took unanimously the following resolutions:

113822

U X E M B O U R G

First Resolution

The Meeting decides to amend the duration of the Company and to subsequently amend the article 2 of the Articles

as to read as follows:

« Art. 2. Duration. The Company is incorporated for a limited duration, the term of the Company being the twelfth

(12

) anniversary of its incorporation, being 19 December 2024 without prejudice to one (1) possible extension of two

(2) years followed by two (2) further possible extensions of one (1) year each at the proposal of the General Partner
with the approval of the general meeting of shareholders of the Company with a majority representing not less than two
thirds (2/3) of the votes validly cast by the shareholders present or represented at such meeting with a fifty percent (50%)
quorum requirement.

In any case, the Company may enter into liquidation at any time upon proposition of the General Partner by a resolution

of the general meeting of the shareholders subject to the quorum and majority requirements necessary for the amendment
of the Articles."

Second Resolution

The Meeting decides to amend the article 14 of the Articles in relation to the procedure applicable to the compulsory

redemption of shares as to read as follows:

« Art. 14. Limitations of the Ownership of Shares. The General Partner may restrict or block the ownership of shares

in the Company by any natural person or legal entity if the General Partner considers that this ownership violates the
laws of the Grand Duchy of Luxembourg or of any other country, or may subject the Company to taxation in a country
other than the Grand Duchy of Luxembourg.

In such instance, the General Partner may:
a) decline to issue any shares when it appears that such issue might or may have as a result the allocation of ownership

of the shares to a person who is not authorised to hold shares in the Company; and/or

b) proceed with the compulsory redemption of all the relevant shares if it appears that a person who is not authorised

to hold such shares in the Company, either alone or together with other persons, is the owner of shares in the Company,
or proceed with the compulsory redemption of any or a part of the shares, if it appears to the Company that one (1) or
several persons is or are an owner or owners of a proportion of the shares in the Company in such a manner that this
may be detrimental to the Company. The following procedure applicable to fully paid shares issued by each of the com-
partments registered in the name of a defaulting investor in accordance with the private placement memorandum of the
Company (the "Defaulted Redeemable Shares") shall be applied in accordance with the private placement memorandum
of the Company:

(i) the General Partner shall send a notice (hereinafter called the "Redemption Notice") to the defaulting investor

possessing the Defaulted Redeemable Shares; the Redemption Notice shall specify the Defaulted Redeemable Shares to
be redeemed, the price to be paid, and the place where this price shall be payable. The Redemption Notice may be sent
to the Defaulting Investor by recorded delivery letter to his last known address. The defaulting investor in question shall
be obliged without delay to deliver to the Company the certificate or certificates, if there are any, representing the
Defaulted Redeemable Shares specified in the Redemption Notice. From the close of business of that day specified in the
redemption notice, the defaulting investor shall cease to be the owner of the Defaulted Redeemable Shares specified in
the Redemption Notice and the certificates representing these Shares shall be rendered null and void in the financial and
legal records of the Company;

(ii) in such compulsory redemption, the redemption price per share will be equal to the lesser of:
- the amount already drawn down and paid by the defaulting investor, less (a) any default interest due, (b) any equali-

sation interest paid, if any and (c) any distributions made to the defaulting investor, and

- seventy-five percent (75%) of the net asset value of such Defaulted Redeemable Shares on the relevant redemption

date, less default interest on the unpaid part of the subscription amounts due, as well as administration and miscellaneous
costs and expenses borne by the Company in respect of such default.

The above-mentioned redemption price will be payable only at the close of the liquidation process of the relevant

Compartment(s).

The price at which the shares specified in the redemption notice shall be redeemed (the "Redemption Price") shall in

such instances be equal to the net asset value per share. Payment of the Redemption Price will be made to the owner of
such shares in the reference currency of the relevant Class, except during periods of exchange restrictions, and will be
deposited by the Company, within a period of time customary to the industry with a bank in Luxembourg or elsewhere
(as specified in the purchase notice) for payment to such owner upon surrender of the Share certificate or certificates,
if issued, representing the Shares specified in such notice. Upon deposit of such Redemption Price as aforesaid, no person
interested in the Shares specified in such purchase notice shall have any further interest in such Shares or any of them,
or any claim against the Company or its assets in respect thereof, except the right of the shareholders appearing as the
owner thereof to receive the price so deposited (without interest) from such bank upon effective surrender of the Share
certificate or certificates, if issued, as aforesaid. The exercise by the Company of this power shall not be questioned or

113823

U X E M B O U R G

invalidated in any case, on the grounds that there was insufficient evidence of ownership of Shares by any person or that
the true ownership of any Shares was otherwise than appeared to the Company at the date of any purchase notice,
provided that in such case said powers were exercised by the Company in good faith.

In particular, the General Partner may restrict or block the ownership of shares in the Company by any "US Person"

unless such ownership is in compliance with the relevant US laws and regulations. The term "US Person" means any
resident or person with the nationality of the United States of America or one of their territories or possessions or
regions under their jurisdiction, or any other company, association or entity incorporated under or governed by the laws
of the United States of America or any person falling within the definition of "US Person" under such laws.

Given the above, and for the avoidance of doubt, in the event the General Partner finds out that a potential investor

in any of the Compartments, or an already existing shareholder in any Compartment, is not, or is no longer a well-
informed investor within the meaning of article 2 of the Law of 15 June 2004, the above described procedures shall be
applied."

Third Resolution

The Meeting decides to amend the voting rights of the shareholders at the general meetings of shareholders and to

subsequently amend the articles 24, 25 and 26 of the Articles to read as follows:

« Art. 24. General meetings of the Company. The general meeting of shareholders of the Company shall represent all

the shareholders of the Company. It shall have the broadest powers to order, carry out or ratify acts relating to the
operations of the Company, provided that, any resolution of the general meeting of shareholders amending the articles
of incorporation or creating rights or obligations vis-a-vis third parties must be approved by the General Partner, unless
otherwise provided for in the private placement memorandum of the Company.

The annual general meeting of shareholders of the Company shall be held in Luxembourg, either at the Company's

registered office or at any other location in Luxembourg, to be specified in the notice of the meeting, at 4.00 p.m. on the
third Wednesday of the month of June. If this day is not a business day, the annual general meeting shall be held on the
next following business day. The annual general meeting may be held abroad if the General Partner, acting with sovereign
powers, decides that exceptional circumstances so require.

Other general meetings of shareholders may be held at the place and on the date specified in the notice of meeting.
General meetings of shareholders shall be convened by the General Partner pursuant to a notice setting forth the

agenda and sent by registered letter at least eight (8) calendar days prior to the meeting to each registered shareholder
at the shareholder's address recorded in the register of shareholders. The giving of such notice to registered shareholders
need not be justified to the meeting.

If all shareholders are present or represented and consider themselves as being duly convened and informed of the

agenda, the general meeting may take place without notice of meeting.

The General Partner may determine all other conditions that must be fulfilled by shareholders in order to attend any

meeting of shareholders.

Each share, whatever its value, shall provide entitlement to one vote. Fractions of shares do not give their holders any

voting right.

Shareholders may take part in meetings by designating in writing or by facsimile, telegram or telex, other persons to

act as their proxy.

The requirements for participation, the quorum and the majority at each general meeting are those outlined in articles

67 and 67-1 of the law of 10 August 1915 on commercial companies, as amended, unless otherwise adapted by the private
placement memorandum of the Company.

Any resolution of a meeting of shareholders to the effect of amending these articles of incorporation or any terms

contained in the private placement memorandum of the Company, as may be amended and supplemented from time to
time, that pertain to the other governance of the Company, the rights of shareholders, the rights to distributions and
others of similar importance to shareholders, must be passed with (i) a presence quorum of fifty (50) percent of the
shares issued by the Company at the first call and, if not achieved, with no quorum requirement for the second call and,
(ii) the approval of a majority of at least two-thirds (2/3) of the votes validly cast by the shareholders present or repre-
sented at the meeting and (iii) the consent of the General Partner. The consent of the General Partner shall not be
required for resolutions concerning the removal of the General Partner.

Notwithstanding the above provisions, any resolution of a meeting of shareholders to the effect of voluntarily repealing

the SICAR status pursuant to the Law of 15 June 2004 shall be passed with the unanimous vote of all shareholders of the
Company, subject to the prior approval of the Luxembourg supervisory commission in this respect.

In accordance with article 68 of the law of 10 August 1915 on commercial companies, as amended, any resolution of

the general meeting of shareholders of the Company, affecting the rights of the holders of shares of any Compartment,
class or type vis-à-vis the rights of the holders of shares of any other Compartment or Compartments, class or classes,
type or types shall be subject to a resolution of the general meeting of shareholders of such Compartment or Compart-
ments, class or classes, type or types. The resolutions, in order to be valid, must be adopted in compliance with the

113824

U X E M B O U R G

quorum and majority requirements referred herein, with respect to each Compartment or Compartments, class or
classes, type or types concerned.

Notwithstanding the above, the decisions specified below shall be taken by a general meeting of shareholders acting

with a majority representing not less than two thirds (2/3) of the votes validly cast by the shareholders present or
represented at the meeting with a fifty percent (50%) quorum requirement:

a) Extension of the duration of the Company pursuant to section III. "Structure of the Company", sub-section A.

"General Information" of the private placement memorandum of the Company;

b) Extension of the Last Closing date pursuant to section IX. "General Description of Shares of the Company", sub-

section C.2. "Subsequent Closings" of the private placement memorandum of the Company;

c) Removal of the General Partner; pursuant to section IV. "Management, Governance and Administration", sub-section

C. "Removal of the General Partner" of the private placement memorandum of the Company;

d) Approval of Transferee in case of transfer of Shares pursuant to section XII. "Transfer and Redemption of Shares"

of the private placement memorandum of the Company;

e) Cure/ Approval of a Change of Control Event pursuant to section IV. "Management, Governance and Administra-

tion", sub-section C. "Removal of the General Partner" of the private placement memorandum of the Company;

f) Replacement of a Key Person following a Key Person Event pursuant to section IV. "Management, Governance and

Administration", sub-section B. "Key Persons" of the private placement memorandum of the Company;

g) Waiver of Key Person Event and termination of Suspension Period pursuant to section IV. "Management, Governance

and Administration", sub¬section B. "Key Persons" of the private placement memorandum of the Company;

h) Amendment of the Articles pursuant to section XIX. "Financial year, general meetings of shareholders, documents

available for inspection and amendments to the placement memorandum", sub-section B. "General Meetings" of the private
placement memorandum of the Company.

However, none of the following decisions shall require the consent of the General Partner to be validly adopted:
a) Removal of the General Partner; pursuant to section IV. "Management, Governance and Administration", sub-section

C. "Removal of the General Partner" of the private placement memorandum of the Company;

b) Cure/ Approval of a Change of Control Event pursuant to section IV. "Management, Governance and Administra-

tion", sub-section C. "Removal of the General Partner" of the private placement memorandum of the Company;

c) Replacement of a Key Person following a Key Person Event pursuant to section IV. "Management, Governance and

Administration", sub-section B. "Key Persons" of the private placement memorandum of the Company;

d) Waiver of Key Person Event and termination of Suspension Period pursuant to section IV. "Management, Gover-

nance and Administration", sub¬section B. "Key Persons" of the private placement memorandum of the Company;

Notwithstanding the above, the decisions specified below shall be taken by a general meeting of shareholders acting

with a majority representing not less than seventy-five percent (75%) of the votes validly cast by the shareholders present
or represented at the meeting with a seventy five percent (75%) quorum requirement at the first meeting, or if such
quorum is not met at such first meeting, then with a fifty percent (50%) quorum requirement for any succeeding meeting:

a) Early termination of the Investment Period pursuant to section IX. "General Description of the Shares of the

Company", sub-section C.4. "Investment Period" of the private placement memorandum of the Company;

b) Decision to undertake or permit any merger, spin-off, consolidation, reorganization or sale of all or substantially all

of the Company's assets;

c) Appointment of a replacement general partner pursuant to section IV. "Management, Governance and Administra-

tion", sub-section C. "Removal of the General Partner" of the private placement memorandum of the Company;

d) Change of Control of the General Partner pursuant to section IV. "Management, Governance and Administration",

sub-section C. "Removal of the General Partner" of the private placement memorandum of the Company;

e) Removal of the General Partner pursuant to section IV. "Management, Governance and Administration", sub-section

C. "Removal of the General Partner" of the private placement memorandum of the Company;

f) Change of Control of the Investment Advisor pursuant to section IV. "Management, Governance and Administration",

sub-section C. "Removal of the General Partner" of the private placement memorandum of the Company;

g) Dissolution, liquidation and termination of the Company pursuant to section XX. "Liquidation of the Company" of

the private placement memorandum of the Company;

h) Extension of the duration of the Company pursuant to section III. "Structure of the Company" of the private

placement memorandum of the Company;

i) Material amendments to the private placement memorandum of the Company pursuant to XIX. "Financial year,

general meetings of shareholders, documents available for inspection and amendments to the placement memorandum",
sub-section D. "Amendments to the Placement Memorandum" of the private placement memorandum of the Company.

i) related party transactions not covered by the private placement memorandum of the Company in excess of USD

50,000; and

j) The change of the auditor.

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U X E M B O U R G

However, none of the following decisions shall require the consent of the General Partner to be validly adopted:
a) Early termination of the Investment Period pursuant to section IX. "General Description of the Shares of the

Company", sub-section C.4. "Investment Period" of the private placement memorandum of the Company;

b) Dissolution, liquidation and termination of the Company pursuant to section XX. "Liquidation of the Company" of

the private placement memorandum of the Company;

c) Extension of the duration of the Company pursuant to section III. "Structure of the Company" of the private

placement memorandum of the Company;

Notwithstanding the above, the decisions specified below shall require the unanimous approval of all shareholders,

other than the consent of the General Partner:

a) repealing of the SICAR status of the Company under the 2004 Law pursuant to section XIX. "Financial year, general

meetings of shareholders, documents available for inspection and amendments to the placement memorandum", sub-
section B. "General Meetings" of the private placement memorandum of the Company;

b) amendments of the investment objective pursuant to section XIX. "Financial year, general meetings of shareholders,

documents available for inspection and amendments to the placement memorandum", sub-section D. "Amendments to
the Placement Memorandum" of the private placement memorandum of the Company;

c) amendments imposing upon Investors an obligation to make any further payment to the Company beyond the

amount of their outstanding Commitments pursuant to section XIX. "Financial year, general meetings of shareholders,
documents available for inspection and amendments to the placement memorandum", sub-section D. "Amendments to
the Placement Memorandum" of the private placement memorandum of the Company;

d) amendments increasing the liabilities of or obligations of, or diminishes the rights of or protections of, a particular

Investor or a particular group of Investors (including any change in the distribution of proceeds as currently foreseen
under the placement memorandum) pursuant to section XIX. "Financial year, general meetings of shareholders, docu-
ments available for inspection and amendments to the placement memorandum", sub-section D. "Amendments to the
Placement Memorandum" of the private placement memorandum of the Company;

e) amendments affecting the limited liability of any Investor pursuant to section XIX. "Financial year, general meetings

of shareholders, documents available for inspection and amendments to the placement memorandum", sub-section D.
"Amendments to the Placement Memorandum" of the private placement memorandum of the Company."

« Art. 25. General meetings in Compartment(s) or in Class(es) of Shares. The provisions of article 24 shall apply,

mutatis mutandis, to such general meetings.

Unless otherwise provided for by law or herein, the resolutions of the general meeting of shareholders of a Com-

partment or of a class of shares are passed by a simple majority vote of the shareholders present or represented.

Decisions pertaining to the acceptance of commitments from new investors not having participated at the first closing

by the General Partner, not to be unreasonably withheld in case of eligible investors pursuant to section XII. "Restriction
on the Ownership and Subscription of Shares" of the private placement memorandum of the Company shall be taken by
the Investors with a majority representing not less than fifty percent (50%) plus one of the votes validly cast by the
shareholders of such compartment present or represented at the meeting with a fifty percent (50%) quorum requirement
with the consent of the General Partner unless otherwise stated in the private placement memorandum of the Company.

Decisions pertaining to the termination of a Compartment shall be taken by the shareholders with a majority repre-

senting not less than two-third (2/3) of the votes validly cast by the shareholders of such compartment present or
represented at such meeting with a fifty percent (50%) quorum requirement with the consent of the General Partner
unless otherwise stated in the private placement memorandum of the Company."

« Art. 26. Termination and Amalgamation of, and Transfer of Shares from Compartments or Classes of Shares. The

general meeting of shareholders of each Compartment may transfer all of the assets of such Compartment to, or amal-
gamate all of the shares of such Compartment with, another existing Compartment within the Company, or to another
investment company in risk capital under the provisions of the Law of 15 June 2004, or to another compartment thereof
(the "new compartment") in accordance with applicable law, and re-designate the shares of such Compartment as shares
of the new compartment (following a split or consolidation, if necessary, and the payment of the amount corresponding
to any fractional entitlement to the shareholders of such Compartment).

Such a transfer/amalgamation of a Compartment to another existing Compartment within the Company, or to a

another investment company in risk capital under the provisions of the Law of 15 June 2004 or to another compartment
thereof, may only be initiated by a decision of the general meeting of shareholders of the Compartment concerned taken
in relation to such transfer/amalgamation of a Compartment passed with unanimous consent.

In the event that, for any reason whatsoever, the value of the total net assets in any Compartment or the value of the

113826

U X E M B O U R G

realization expenses) calculated with reference to the Valuation Day in respect of which such decision shall be effective.
The Company shall serve a notice to the shareholders of the relevant class or classes prior to the effective date for the
compulsory redemption, which will indicate the reasons and the procedure for the redemption operations. "

Fourth Resolution

The Meeting subsequently resolves to fully restate the Articles which shall henceforth read as follows:

"Chapter I - Form, Term, Object, Registered office

Art. 1. Name and Form. There exists among the existing shareholders and those who may become owners of shares

in the future, a company in the form of a limited partnership by shares (société en commandite par actions) with variable
capital, qualifying as a société d'investissement en capital à risque under the name of "Moringa S.C.A., SICAR" (hereinafter
the "Company").

Art. 2. Duration. The Company is incorporated for a limited duration, the term of the Company being the twelfth

(12th) anniversary of its incorporation, being 19 December 2024 without prejudice to one (1) possible extension of two
(2) years followed by two (2) further possible extensions of one (1) year each at the proposal of the General Partner
with the approval of the general meeting of shareholders of the Company with a majority representing not less than two
thirds (2/3) of the votes validly cast by the shareholders present or represented at such meeting with a fifty percent (50%)
quorum requirement.

In any case, the Company may enter into liquidation at any time upon proposition of the General Partner by a resolution

of the general meeting of the shareholders subject to the quorum and majority requirements necessary for the amendment
of the Articles.

Art. 3. Purpose. The purpose of the Company is the investment of all the funds available to it in risk capital within the

widest meaning of article 1 of the law of 15 June 2004 relating to the investment company in risk capital, as such law may
be amended or supplemented from time to time (the "Law of 15 June 2004").

Furthermore, the Company may take any measures and conduct any operations it sees fit for the purpose of achieving

or developing its object in accordance with the Law of 15 June 2004.

Art. 4. Registered Office. The registered office of the Company shall be in Luxembourg, Grand Duchy of Luxembourg.

Branches, subsidiaries or other offices may be established, either in the Grand Duchy of Luxembourg or abroad by a
decision of the General Partner. Within the same borough, the registered office may be transferred through simple
resolution of the General Partner.

If the General Partner considers that extraordinary events of a political, economic or social nature, likely to compro-

mise the registered office's normal activity or easy communications between this office and abroad, have occurred or are
imminent, it may temporarily transfer the registered office abroad until such time as these abnormal circumstances have
ceased completely; this temporary measure shall not, however, have any effect on the Company's nationality, which,
notwithstanding a temporary transfer of its registered office, shall remain a Luxembourg company.

Chapter II - Capital

Art. 5. Share Capital. The capital of the Company shall be represented by shares of no nominal value and shall at any

time be equal to the total value of the net assets of the Company and its Compartments (as defined in article 7 hereof).
The minimum capital of the Company cannot be lower than the level provided for by the Law of 15 June 2004. Such
minimum capital must be reached within a period of twelve (12) months after the date on which the Company has been
authorized as an investment company in risk capital under Luxembourg law. Upon incorporation the initial share capital
of the Company is represented by thirty-one thousand Euro (EUR 31,000.-) fully paid-up represented by one (1) general
partner share subscribed by the General Partner in its capacity as unlimited shareholder (associé-gérant commandité) of
the Company and thirty thousand nine hundred and ninety-nine (30,999) ordinary shares.

Art. 6. Capital Variation. The Company's share capital shall vary, without any amendment to the articles of incorpo-

ration, as a result of the Company issuing new shares or redeeming its shares.

Art. 7. Compartments. The General Partner may, at any time, create different categories of shares, each one corres-

ponding to a distinct part or "compartment" of the Company's net assets (hereinafter referred to as a "Compartment").
In such event, it shall assign a particular name to them, which it may amend, and may limit or extend their duration if it
sees fit.

Each portfolio of assets shall be invested for the exclusive benefit of the relevant Compartment(s). The Company shall

be considered as one single legal entity. However, with regard to third parties, in particular towards the Company's
creditors, each Compartment shall be exclusively responsible for all liabilities attributable to it.

For the purpose of determining the capital of the Company, the net assets attributable to each Compartment shall, if

not expressed in Euro (EUR), be converted into Euro (EUR) and the capital shall be the total of the net assets of all
Compartments and classes of shares.

113827

U X E M B O U R G

Chapter III - Shares

Art. 8. Form of Shares. The shares of the Company may be issued in registered form only.
All shares of the Company issued in registered form shall be registered in the register of shareholders kept by the

Company or by one or more persons designated therefore by the Company, and such register shall contain the name of
each owner of registered shares, his residence or elected domicile as indicated to the Company, the number of registered
shares held by him and the amounts paid.

The inscription of the shareholder's name in the register of shareholders evidences his right of ownership on such

registered shares. The General Partner shall decide whether a certificate for such inscription shall be delivered to the
shareholder or whether the shareholder shall receive a written confirmation of his shareholding.

The share certificates, if any, shall be signed by the General Partner. Such signatures shall be either manual, or printed,

or in facsimile. The Company may issue temporary share certificates in such form as the General Partner may determine.

Shareholders entitled to receive registered shares shall provide the Company with an address to which all notices and

announcements may be sent. Such address will also be entered into the register of shareholders.

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 of shareholders and the shareholder's address will be deemed to be at the registered office of
the Company, or at such other address as may be so entered into the register of shareholders by the Company from
time to time, until another address shall be provided to the Company by such shareholder. A shareholder may, at any
time, change his address as entered into the register of shareholders by means of a written notification to the Company
at its registered office, or at such other address as may be set by the Company from time to time.

A duplicate share certificate may be issued under such conditions and guarantees as the Company may determine,

including but not restricted to a bond issued by an insurance company, if a shareholder so requests and proves to the
satisfaction of the Company that his share certificate has been lost, damaged or destroyed. The new share certificate shall
specify that it is a duplicate. Upon its issuance, the original share certificate shall become void.

Damaged share certificates may be cancelled by the Company and replaced by new certificates.
The Company may, at its election, charge to the shareholder the costs of a duplicate or of a new share certificate and

all reasonable expenses incurred by the Company in connection with the issue and registration thereof or in connection
with the annulment of the original share certificate.

The Company recognizes only one single owner per share. If one or more shares are jointly owned or if the ownership

of shares is disputed, all persons claiming a right to such share(s) have to appoint one single attorney to represent such
share(s) towards the Company. The failure to appoint such attorney implies a suspension of the exercise of all rights
attached to such shares.

The Company may decide to issue fractional shares. Such fractional shares shall not be entitled to vote but shall be

entitled to participate in the net assets attributable to the relevant Compartment or class of shares on a pro rata basis.

Art. 9. Classes of Shares. The shares of the Company are reserved to well-informed investors within the meaning of

article 2 of the Law of 15 June 2004 and the Company will refuse to issue shares to the extent the legal or beneficial
ownership thereof would belong to persons or companies which do not qualify as well-informed investors within the
meaning of the said law.

In addition to the one or several general partner shares subscribed by the General Partner as unlimited shareholder

(actionnaire gérant commandité) of the Company, the General Partner may decide to issue one or more classes of
ordinary shares, for the Company or for each Compartment, to be subscribed by limited shareholders (actionnaires
commanditaires).

Each class of shares may differ from the other classes with respect to its cost structure, the initial investment required,

its specific distribution rights or the currency in which the net asset value is expressed or any other feature. Within each
class, there may be capitalization share-type and distribution share-types.

Whenever dividends are distributed on distribution shares, the portion of net assets of the class of shares to be allotted

to all distribution shares shall subsequently be reduced by an amount equal to the amounts of the dividends distributed,
thus leading to a reduction in the percentage of net assets allotted to all distribution shares, whereas the portion of net
assets allotted to all capitalisation shares shall remain the same.

The General Partner may decide not to issue or to cease issuing classes, types or sub-types of shares in one or more

Compartments.

Any future reference to a Compartment shall include, if applicable, each class and type of share making up this Com-

partment and any reference to a type shall include, if applicable, each sub-type making up this type.

Art. 10. Issue of Shares. Subject to the provisions of the Law of 15 June 2004, the General Partner is authorized without

limitation to issue an unlimited number of shares at any time, without reserving to the existing shareholders a preferential
right to subscribe for the shares to be issued.

The General Partner may impose restrictions on the frequency at which shares shall be issued in any class of shares

and/or in any Compartment; the General Partner may, in particular, decide that shares of any class and/or of any Com-

113828

U X E M B O U R G

partment shall only be issued during one or more offering periods or at such other periodicity as provided for in the
private placement memorandum of the Company.

In addition to the restrictions concerning the eligibility of investors as foreseen by the Law of 15 June 2004, the General

Partner may determine any other subscription conditions such as the minimum amount of commitments/subscriptions,
the minimum amount of the aggregate net asset value of the shares of a Compartment to be initially subscribed, the
minimum amount of any additional shares to be issued, the application of default interest payments on shares subscribed
and unpaid when due, restrictions on the ownership of shares and the minimum amount of any holding of shares. Such
other conditions shall be disclosed and more fully described in the private placement memorandum of the Company.

Whenever the Company offers shares for subscription, the price per share at which such shares are offered shall be

determined in compliance with the rules and guidelines fixed by the General Partner and reflected in the private placement
memorandum of the Company. The price so determined shall be payable within a period as determined by the General
Partner and reflected in the private placement memorandum of the Company.

The General Partner may delegate to any director, manager, officer or other duly authorized agent the power to

accept subscriptions, to receive payment of the price of the new shares to be issued and to deliver them.

Art. 11. Redemption. The General Partner may redeem shares pursuant to the terms and procedures set forth in the

private placement memorandum of the Company and within the limits provided by law and these articles of incorporation.

The Company shall not proceed to redemption of shares in the event the net assets of the Company would fall below

the minimum capital foreseen in the Law of 15 June 2004 as a result of such redemption.

The redemption price shall be determined in accordance with the rules and guidelines fixed by the General Partner

and reflected in the private placement memorandum of the Company. The price so determined shall be payable within a
period as determined by the General Partner and reflected in the private placement memorandum of the Company.

The Company may redeem shares whenever the General Partner considers redemption to be in the best interests of

the Company or a Compartment.

In addition, the shares may be redeemed compulsorily in accordance with article 14 "Limitations of the ownership of

shares" herein.

The Company shall use its best commercial efforts to make all distributions in cash in the Reference Currency. From

year ten (10) onwards, the Company shall have the right, if the General Partner so determines that it is not commercially
practical to make such distributions in cash, to make distributions to any shareholder in specie by allocating to the
Shareholder investments from the portfolio of assets according to its pro rata ownership of the assets in question.

Art. 12. Transfer of Shares. When a shareholder has outstanding obligations vis-à-vis the Company, by virtue of his

subscription agreement or otherwise, ordinary shares held by such shareholder may only be transferred, pledged or
assigned with the written consent from the General Partner, which consent shall not be unreasonably withheld. In such
event, any transfer or assignment of ordinary shares is subject to the purchaser or assignee thereof fully and completely
assuming in writing prior to the transfer or assignment, all outstanding obligations of the seller under the subscription
agreement or any agreement, entered into by the seller and other shareholders from time to time or otherwise.

Art. 13. Conversion. Shareholders are not entitled to require the conversion of whole or part of their shares of any

class of a Compartment into shares of the same class in another Compartment or into shares of another existing class
of that or another Compartment.

Art. 14. Limitations of the Ownership of Shares. The General Partner may restrict or block the ownership of shares

In such instance, the General Partner may:
a) decline to issue any shares when it appears that such issue might or may have as a result the allocation of ownership

of the shares to a person who is not authorised to hold shares in the Company; and/or

b) proceed with the compulsory redemption of all the relevant shares if it appears that a person who is not authorised

(i) the General Partner shall send a notice (hereinafter called the "Redemption Notice") to the defaulting investor

113829

U X E M B O U R G

Defaulted Redeemable Shares specified in the Redemption Notice. From the close of business of that day specified in the
redemption notice, the defaulting investor shall cease to be the owner of the Defaulted Redeemable Shares specified in
the Redemption Notice and the certificates representing these Shares shall be rendered null and void in the financial and
legal records of the Company;

sation interest paid, if any and (c) any distributions made to the defaulting investor, and

- seventy-five percent (75%) of the net asset value of such Defaulted Redeemable Shares on the relevant redemption

date, less default interest on the unpaid part of the subscription amounts due, as well as administration and miscellaneous
costs and expenses borne by the Company in respect of such default.

The above-mentioned redemption price will be payable only at the close of the liquidation process of the relevant

Compartment(s).

The price at which the shares specified in the redemption notice shall be redeemed (the "Redemption Price") shall in

In particular, the General Partner may restrict or block the ownership of shares in the Company by any "US Person"

Given the above, and for the avoidance of doubt, in the event the General Partner finds out that a potential investor

Art. 15. Net Asset Value. The net asset value of the shares in every Compartment, class, type or sub-type of share of

the Company, shall be determined at least once a year and expressed in the currency(ies) decided upon by the General
Partner. The General Partner shall decide the days by reference to which the assets of the Company or Compartments
shall be valued (each a "Valuation Day") and the appropriate manner to communicate the net asset value per share, in
accordance with the legislation in force.

I. The Company's assets shall include:
- all cash in hand or on deposit, including any outstanding accrued interest;
- all bills and promissory notes and accounts receivable, including outstanding proceeds of any sale of securities;
- all securities, shares, bonds, time notes, debenture stocks, derivatives (to be used solely for hedging purposes as

further described in the placement memorandum) or subscription rights, warrants, money market instruments, and all
other investments and transferable securities belonging to the relevant Compartment;

- all dividends and distributions payable to the Compartment either in cash or in the form of stocks and shares (the

Company may, however, make adjustments to account for any fluctuations in the market value of transferable securities
resulting from practices such as ex-dividend or ex-claim negotiations);

- all outstanding accrued interest on any interest-bearing securities belonging to the Compartment, unless this interest

is included in the principal amount of such securities;

- the Company's or relevant Compartment's formation expenses, to the extent that such expenses have not been

written-off or fully amortized within five (5) years of the Company's or Compartment's formation;

- the Company's or relevant Compartment's other fixed assets, including office buildings, equipment and fixtures; and
- all other assets whatever their nature, including the proceeds of swap transactions and advance payments.
II. The Company's liabilities shall include:
- all borrowings, bills, promissory notes and accounts payable;

113830

U X E M B O U R G

- all known liabilities, whether or not already due, including all contractual obligations that have reached their term,

involving payments made either in cash or in the form of assets, including the amount of any dividends declared by the
Company regarding each Compartment but not yet paid;

- a provision for any capital tax and income tax accrued on the Valuation Day and any other provisions authorized or

approved by the General Partner; and

- all other liabilities of the Company of any kind with respect to each Compartment, except liabilities represented by

shares in the Company. In determining the amount of such liabilities, the Company shall take into account all expenses
payable by the Company including, but not limited to: formation expenses (provided they are fully amortized within five
(5) years from the incorporation of the Company); expenses in connection with and fees payable to the General Partner,
the investment manager(s), advisers(s), accountants, depositary and correspondents, registrar, transfer agents, paying
agents, brokers, distributors, permanent representatives in places of registration and auditors; administration, domiciliary
services, promotion, printing, reporting, publishing (including advertising or preparing and printing of private placement
memorandum of the Company, explanatory memoranda, registration statements and financial reports) and other ope-
rating expenses; the cost of buying and selling assets (transaction costs); interest and bank charges, as well as taxes and
other governmental charges.

The Company may calculate administrative and other expenses of a regular or recurring nature on an estimated basis

yearly or for other periods in advance and may accrue the same in equal proportions over any such period.

III. The value of the Company's assets shall be determined as follows:
- the value of any cash in hand or on deposit, discount notes, bills and demand notes and accounts receivable, prepaid

expenses, cash dividends and interest declared or accrued as aforesaid and not yet received, shall be equal to the entire
amount thereof, unless the same is unlikely to be paid or received in full, in which case the value thereof shall be determined
after making such discount as the General Partner may consider appropriate in such case to reflect the true value thereof;

- the value of all portfolio securities and money market instruments or derivatives that are listed on an official stock

exchange or traded on any other regulated market will be based on the last available price on the principal market on
which such securities, money market instruments or derivatives are traded, as supplied by a recognized pricing service
approved by the General Partner. If such prices are not representative of the fair value, such securities, money market
instruments or derivatives as well as other permitted assets may be appraised at a fair value at which it is expected that
they may be resold, as determined in good faith under the direction of the General Partner;

- the value of securities and money market instruments which are not quoted or traded on a regulated market will be

appraised at a fair value at which it is expected that they may be resold, as determined in good faith under the direction
of the General Partner;

- investments in private equity securities will be appraised at a fair value under the direction of the General Partner in

accordance with appropriate professional standards, such as the Valuation Guidelines published by the European Private
Equity and Venture Capital Association (EVCA), in effect as of the applicable date, as further specified in the private
placement memorandum of the Company;

- the valuation of swaps, which will be used solely for hedging purposes as further described in the placement memo-

randum, will be based on their market value, which itself depends on various factors (e.g. level and volatility of the
underlying asset, market interest rates, residual term of the swap). Any adjustments required as a result of issues and
redemptions are carried out by means of an increase or decrease in the nominal of the swaps, traded at their market
value;

- the valuation of derivatives traded over-the-counter (OTC), such as futures, forward or option contracts not traded

on exchanges or on other recognized markets, which will be used solely for hedging purposes as further described in the
placement memorandum, will be based on their net liquidating value determined, pursuant to the policies established by
the General Partner on the basis of recognized financial models in the market and in a consistent manner for each category
of contracts. The net liquidating value of a derivative position is to be understood as being equal to the net unrealized
profit/loss with respect to the relevant position;

- the value of other assets will be determined prudently and in good faith under the direction of the General Partner

in accordance with the relevant valuation principles and procedures.

The General Partner may authorize the use of other specific methods of valuation if it considers that such methods

would enable the fair value of any asset of the Company to be determined more accurately and consistently.

Where necessary, the fair value of an asset is determined by the General Partner, or by a committee appointed by the

General Partner, or by a designee of the General Partner.

All valuation regulations and determinations shall be interpreted and made in accordance with the valuation/accounting

principles specified in the private placement memorandum of the Company.

The General Partner's valuation procedures and/or valuations will generally be reviewed by the independent auditor

of the Company. On an exceptional basis and when the environment and conditions so require, the General Partner may
seek the assistance of an independent valuer to perform the valuation of specific investments. In the latter case, the costs
of such additional independent valuations shall be borne by the relevant Compartment.

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The Advisory Committee, acting by a decision adopted by at least two thirds (2/3) of the members present or repre-

sented, and with a fifty percent (50%) quorum requirement shall have the right to contest any valuation made by the
General Partner, in which case a third party appraiser shall conduct the valuation and such valuation shall be binding.

For each Compartment, adequate provisions will be made for expenses incurred and due account will be taken of any

off-balance sheet liabilities in accordance with fair and prudent criteria.

For each Compartment and for each class, the net asset value per share shall be calculated in the relevant reference

currency with respect to each Valuation Day by dividing the net assets attributable to such Compartment or class (which
shall be equal to the assets minus the liabilities attributable to such Compartment or class) by the number of shares issued
and in circulation in such Compartment or class; assets and liabilities expressed in foreign currencies shall be converted
into the relevant reference currency, based on the relevant exchange rates.

The Company's net assets shall be equal to the sum of the net assets of all its Compartments.
In the absence of bad faith, wilful default, gross negligence or manifest error, every decision to determine the net asset

value taken by the General Partner or by any bank, company or other organization which the General Partner may appoint
for such purpose, shall be final and binding on the Company and present, past or future shareholders.

Art. 16. Allocation of Assets and Liabilities among the Compartments. For the purpose of allocating the assets and

liabilities between the Compartments, the General Partner shall establish a portfolio of assets for each Compartment in
the following manner:

- the proceeds from the issue of each share of each Compartment are to be applied in the books of the Company to

the portfolio of assets established for that Compartment and the assets and liabilities and income and expenditure attri-
butable thereto are applied to such portfolio subject to the following provisions;

- where any asset is derived from another asset, such derivative asset is applied in the books of the Company to the

same portfolio as the asset from which it was derived and on each revaluation of an asset, the increase or diminution in
value is applied to the relevant portfolio;

- where the Company incurs a liability which relates to any asset of a particular portfolio or to any action taken in

connection with an asset of a particular portfolio, such liability is allocated to the relevant portfolio;

- in the case where any asset or liability of the Company cannot be considered as being attributable to a particular

portfolio, such asset or liability is as a rule allocated to all the portfolios pro rata to their net asset values or according
to the committed amounts to each Compartment as appropriate; provided, that if and when specific and unique cir-
cumstances so justify, the General Partner may otherwise allocate such asset or liability amongst portfolios in equal parts
if such allocation is equitable and in good faith; notwithstanding the foregoing, if and when specific circumstances so justify,
such asset or liability may be allocated to all portfolios in equal parts;

- upon the payment of dividends to the holders of shares in any Compartment, the net asset value of such Compartment

shall be reduced by the amount of such dividends.

Towards third parties, the assets of a given Compartment will be liable only for the debts, liabilities and obligations

concerning that Compartment. In relations between shareholders, each Compartment is treated as a separate entity.

Art. 17. Suspension of Calculation of the Net Asset Value. The General Partner may temporarily suspend the deter-

mination of the net asset value for one or more Compartments, in the following cases:

- when the stock exchange(s) or market(s) that supplies/supply prices for a significant part of the assets of one or

several Compartments are closed, or in the event that transactions on such a market are suspended, or are subject to
restrictions, or are impossible to execute in volumes allowing the determination of fair prices;

- when the information or calculation sources normally used to determine the value of a Compartment's assets are

unavailable, or if the value of a Compartment's investment cannot be determined with the required speed and accuracy
for any reason whatsoever;

- when exchange or capital transfer restrictions prevent the execution of transactions of a Compartment or if purchase

or sale transactions of a Compartment cannot be executed at normal rates;

- when the political, economic, military or monetary environment, or an event of force majeure, prevent the Company

from being able to manage normally its assets or its liabilities and prevent the determination of their value in a reasonable
manner;

- when, for any other reason, the prices of any significant investments owned by a Compartment cannot be promptly

or accurately ascertained;

- when the Company or any of the Compartments is/are in the process of establishing exchange parities in the context

of a merger, a contribution of assets, an asset or share split or any other restructuring transaction;

- when there is a suspension of redemption or withdrawal rights by several investment funds in which the Company

or the relevant Compartment is invested;

- in exceptional circumstances, whenever the General Partner considers it necessary in order to avoid irreversible

negative effects on one or more Compartments, in compliance with the principle of equal treatment of shareholders in
their best interests.

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The suspension of the calculation of the net asset value shall be notified to the relevant persons through all means

reasonably available to the Company, unless the General Partner is of the opinion that a publication is not necessary
considering the short period of the suspension.

The suspension measures provided for in this article may be limited to one or more Compartments.

Chapter IV - Administration and Management of the company

Art. 18. General Partner. The Company shall be managed by the General Partner.
The General Partner is jointly and severally liable for all liabilities which cannot be met out of the assets of the Company.
In the event of legal incapacity, liquidation or other permanent situation preventing the General Partner from acting

as general partner of the Company, the Company shall not be immediately dissolved and liquidated, provided that an
administrator, who needs not be a shareholder, is appointed to effect urgent or mere administrative acts, until a general
meeting of shareholders is held, which such administrator shall convene within fifteen (15) days of his appointment. At
such general meeting, the shareholders may appoint, in accordance with the quorum and majority requirements for
amending the articles of incorporation, a successor manager. Failing such appointment, the Company shall be dissolved
and liquidated.

Any such appointment of a successor manager shall not be subject to the approval of the General Partner.

Art. 19. Powers of the General Partner. The General Partner shall determine the investment policies and strategies

of the Company and of each Compartment and the course of conduct of the management and business affairs of the
Company, as set forth in the private placement memorandum of the Company, in compliance with applicable laws and
regulations.

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

the Company's purpose.

All powers not expressly reserved by law or by these articles of incorporation to the general meeting of shareholders

are in the competence of the General Partner.

The General Partner may appoint an investment advisor, as well as any other management or administrative agents.

The General Partner may enter into agreements with such persons or companies for the provision of their services, the
delegation of powers to them, and the determination of their remuneration to be borne by the Company.

Art. 20. Corporate Signature. Vis-à-vis third parties, the Company is validly bound by the sole signature of the General

Partner or by the signature(s) of any other person(s) to whom authority has been delegated by the General Partner.

Art. 21. Liability. The holders of ordinary shares shall refrain from acting on behalf of the Company in any manner or

capacity other than by exercising their rights as shareholders in general meetings and shall only be liable to the extent of
their contributions to the Company.

Art. 22. Conflict of Interest. No contract or other transaction between the Company and any other company or firm

shall be affected or invalidated by the fact that the General Partner or any one or more of the directors and/or managers
and/or officers of the General Partner is interested in, or is a director, associate, officer or employee of, such other
company or firm.

Any director, manager or officer of the General Partner who serves as a director, manager, officer or employee of

any company or firm with which the Company shall contract or otherwise engage in business shall not, by reason of such
affiliation with such other company or firm, be prevented from considering and voting or acting upon any matters with
respect to such contract or other business.

Art. 23. Indemnification. The General Partner and each member, manager, partner, shareholder, director, officer,

employee, agent or controlling person of the General Partner ("Indemnified Persons") may be exculpated and entitled to
indemnification to the fullest extent permitted by law out of the assets of the Company against any cost, expense (including
attorneys' fees), judgment and/or liability, reasonably incurred by, or imposed upon such person in connection with any
action, suit or proceeding (including any proceeding before any administrative or legislative body or agency) to which
such person may be made a party or otherwise involved or with which such person will be threatened by reason of its
activities and functions qualifying her as an Indemnified Person; provided, however, that any such person will not be so
exculpated with respect to any matter as to which such person is determined not to have acted in good faith in the best
interests of the Company and the relevant Compartments or with respect to any manner in which such person acted in
a grossly negligent manner or in material breach of the constitutive documents of the Company or any provisions of
relevant service agreement, has committed a fraud, wilful misconduct or a material violation of Luxembourg law or a
material violation of securities laws in a jurisdiction in which shares have been (or are being) offered and/ or sold. Not-
withstanding the foregoing, advances from funds of the Company to a person entitled to indemnification hereunder for
legal expenses and other costs incurred as a result of a legal action will be made only if the following three conditions
are satisfied: (1) the legal action relates to the performance of duties or services by such person on behalf of the Company;
(2) the legal action is initiated by a third party to the Company; and (3) such person undertakes to repay the advanced
funds in cases in which it is finally and conclusively determined that it would not be entitled to indemnification hereunder.

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The Company shall not indemnify the Indemnified Persons in the event of claim resulting from legal proceedings initiated

by another Indemnified Person.

Chapter V - General meetings

Art. 24. General meetings of the Company. The general meeting of shareholders of the Company shall represent all