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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° 2492

15 septembre 2015

SOMMAIRE

Alex Arendt S.A. . . . . . . . . . . . . . . . . . . . . . . . .

119577

Bureau International Maritime S.A. . . . . . . . .

119570

CCL Immo S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .

119573

C. Laumann Investments S.à r.l. . . . . . . . . . . .

119572

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

119593

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

119573

D.B. Zwirn Asia Pacific LP (Lux) S. à r.l. . . . .

119574

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

119571

ESB International Luxembourg S.A. . . . . . . .

119570

Fashion by Onix, s.à r.l. . . . . . . . . . . . . . . . . . .

119571

Ferlim S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119571

Ferlim S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119572

Ferlim S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119572

FinAcc Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119570

Foncière CG & Associés S.A. . . . . . . . . . . . . . .

119570

Ganda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119573

Garage Thommes Mersch Sàrl . . . . . . . . . . . . .

119573

Geyser S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119571

H2O Equipment S.à r.l. . . . . . . . . . . . . . . . . . . .

119572

H2O Products S.à r.l. . . . . . . . . . . . . . . . . . . . . .

119616

Hewlett-Packard Luxembourg S.C.A. . . . . . . .

119570

Hewlett-Packard Luxembourg S.C.A. . . . . . . .

119574

Hewlett-Packard Luxembourg S.C.A. . . . . . . .

119572

" H.I.G. Luxembourg Holdings 56 S.à r.l. . . .

119574

ING International Currency Management

Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119580

King Holding I S.à r.l. . . . . . . . . . . . . . . . . . . . .

119571

Lorraine Invest S.A. . . . . . . . . . . . . . . . . . . . . .

119574

LSREF3 Lagoon GP (Luxembourg) S.à r.l. . .

119578

LSREF3 Octopus Investments S.à r.l. . . . . . . .

119578

LSREF3 Octopus Reo S.à r.l. . . . . . . . . . . . . . .

119578

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

119578

Luxat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119575

Lux-Forêts du Nord S.à r.l. . . . . . . . . . . . . . . . .

119575

Maega S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119616

Master SIF SICAV-SIF . . . . . . . . . . . . . . . . . . .

119573

Mirta International S.A. . . . . . . . . . . . . . . . . . .

119616

NN (L) CMF . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119580

Olea Capital Invest S.A. . . . . . . . . . . . . . . . . . .

119577

Orox Capital Investment . . . . . . . . . . . . . . . . .

119577

Perinvest (Lux) Sicav . . . . . . . . . . . . . . . . . . . . .

119576

Private Lending General Partner S.à.r.l. . . . .

119577

Purple Grafton S.à r.l. . . . . . . . . . . . . . . . . . . . .

119576

Saran S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119575

Stoll Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

119575

Tracol Construction S.A. . . . . . . . . . . . . . . . . .

119579

Truffle Gourmet Russia Holding S.à r.l. . . . . .

119576

Tupi Nordeste S.à r.l. . . . . . . . . . . . . . . . . . . . . .

119576

119569

U X E M B O U R G

Bureau International Maritime S.A., Société Anonyme.

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

R.C.S. Luxembourg B 41.749.

Les comptes annuels au 31-12-2014 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: 2015079183/9.
(150091447) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

FinAcc Fund, Société en Commandite par Actions sous la forme d'une SICAV - Fonds d'Investissement Spécialisé.

Siège social: L-2180 Luxembourg, 5, rue Jean Monnet.

R.C.S. Luxembourg B 154.533.

Le bilan au 31 décembre 2014 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.

CREDIT SUISSE FUND SERVICES (LUXEMBOURG) S.A.

Référence de publication: 2015079387/10.
(150091413) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Foncière CG & Associés S.A., Société Anonyme.

Siège social: L-1118 Luxembourg, 23, rue Aldringen.

R.C.S. Luxembourg B 101.813.

Signature.

Référence de publication: 2015079389/10.
(150090544) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

ESB International Luxembourg S.A., Société Anonyme.

Siège social: L-2453 Luxembourg, 6, rue Eugène Ruppert.

R.C.S. Luxembourg B 54.449.

Pour ESB INTERNATIONAL LUXEMBOURG S.A.
Un mandataire

Référence de publication: 2015079365/11.
(150090439) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Hewlett-Packard Luxembourg S.C.A., Société en Commandite par Actions.

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

R.C.S. Luxembourg B 79.540.

La Société a été constituée suivant acte reçu par Maître Gérard Lecuit, notaire de résidence à Hesperange, en date du 5

décembre 2000 publié au Mémorial C, Recueil des Sociétés et Associations n° 538 du 17 juillet 2001.

Les comptes annuels au 31 octobre 2014 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 27 mai 2015.

Pour Hewlett-Packard Luxembourg S.C.A.
Liudmila Gorodnikova

Référence de publication: 2015079482/14.
(150091694) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

119570

U X E M B O U R G

Geyser S.A., Société Anonyme.

Siège social: L-1840 Luxembourg, 32, boulevard Joseph II.

R.C.S. Luxembourg B 16.041.

Les comptes annuels au 31 décembre 2014 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: 2015079440/9.
(150091527) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Fashion by Onix, s.à r.l., Société à responsabilité limitée.

Siège social: L-4940 Bascharage, 155, avenue de Luxembourg.

R.C.S. Luxembourg B 117.353.

Le bilan et l'annexe au bilan au 31/12/2014 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: 2015079396/10.
(150091744) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Ferlim S.A., Société Anonyme.

Siège social: L-1114 Luxembourg, 10, rue Nicolas Adames.

R.C.S. Luxembourg B 49.631.

Le Bilan au 31.12.2012 et les documents y annexés 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.
Référence de publication: 2015079397/10.
(150090464) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

King Holding I S.à r.l., Société à responsabilité limitée.

Capital social: EUR 627.475,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 117.857.

Le bilan de la société au 31 décembre 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.

Pour la société
Un mandataire

Référence de publication: 2015079588/12.
(150091408) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

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

Siège social: L-3474 Dudelange, 1, rue Auguste Liesch.

R.C.S. Luxembourg B 88.439.

FIDUCIAIRE ROLAND KOHN S.à.r.l.
259 ROUTE D'ESCH
L-1471 LUXEMBOURG
Signature

Référence de publication: 2015079307/13.
(150091469) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

119571

U X E M B O U R G

C. Laumann Investments S.à r.l., Société à responsabilité limitée.

Siège social: L-8017 Strassen, 18, rue de la Chapelle.

R.C.S. Luxembourg B 175.193.

Der Jahresabschluss vom 31. Dezember 2013 wurde beim Handels- und Gesellschaftsregister von Luxemburg hinterlegt.
Zwecks Veröffentlichung im Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2015079184/9.
(150091482) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Ferlim S.A., Société Anonyme.

Siège social: L-1114 Luxembourg, 10, rue Nicolas Adames.

R.C.S. Luxembourg B 49.631.

Le Bilan au 31.12.2013 et les documents y annexés 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.
Référence de publication: 2015079398/10.
(150090466) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Ferlim S.A., Société Anonyme.

Siège social: L-1114 Luxembourg, 10, rue Nicolas Adames.

R.C.S. Luxembourg B 49.631.

Le Bilan au 31.12.2014 et les documents y annexés 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.
Référence de publication: 2015079399/10.
(150090467) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

H2O Equipment S.à r.l., Société à responsabilité limitée.

Siège social: L-3960 Ehlange, 37, rue du Centre.

R.C.S. Luxembourg B 94.809.

Signature
Mandataire

Référence de publication: 2015079513/11.
(150091677) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Hewlett-Packard Luxembourg S.C.A., Société en Commandite par Actions.

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

R.C.S. Luxembourg B 79.540.

La Société a été constituée suivant acte reçu par Maître Gérard Lecuit, notaire de résidence à Hesperange, en date du 5

décembre 2000 publié au Mémorial C, Recueil des Sociétés et Associations n° 538 du 17 juillet 2001.

Les comptes annuels au 31 octobre 2013 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 27 mai 2015.

Pour Hewlett-Packard Luxembourg S.C.A.
Liudmila Gorodnikova

Référence de publication: 2015079483/14.
(150091695) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

119572

U X E M B O U R G

CCL Immo S.à r.l., Société à responsabilité limitée.

Siège social: L-8009 Strassen, 105, route d'Arlon.

R.C.S. Luxembourg B 163.569.

Les comptes annuels au 31/12/2014 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: 2015079243/9.
(150091537) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Garage Thommes Mersch Sàrl, Société à responsabilité limitée.

Siège social: L-7526 Mersch, 13, allée John W. Léonard.

R.C.S. Luxembourg B 133.249.

Les comptes annuels du 01/01/2014 au 31/12/2014 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.
Référence de publication: 2015079418/10.
(150091546) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Ganda, Société Anonyme.

Siège social: L-2227 Luxembourg, 11, avenue de la Porte Neuve.

R.C.S. Luxembourg B 78.263.

Les comptes annuels au 31 Décembre 2014 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: 2015079433/10.
(150091580) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Master SIF SICAV-SIF, Société d'Investissement à Capital Variable - Fonds d'Investissement Spécialisé.

Siège social: L-8070 Bertrange, 31, Z.A. Bourmicht.

R.C.S. Luxembourg B 159.968.

Le bilan au 31 décembre 2014 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.

Bertrange, le 29 mai 2015.

Pour le compte de MASTER SIF - SICAV-SIF
Citibank International Limited Luxembourg Branch

Référence de publication: 2015079649/12.
(150091505) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

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

Siège social: L-8833 Wolwelange, 44, rue de l'Ermitage.

R.C.S. Luxembourg B 169.643.

FIDUCIAIRE ROLAND KOHN S.à.r.l.
259 ROUTE D'ESCH
L-1471 LUXEMBOURG
Signature

Référence de publication: 2015079263/13.
(150091423) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

119573

U X E M B O U R G

D.B. Zwirn Asia Pacific LP (Lux) S. à r.l., Société à responsabilité limitée.

Siège social: L-1222 Luxembourg, 2-4, rue Beck.

R.C.S. Luxembourg B 124.953.

Les comptes annuels au 31.12.2014 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: 2015079268/9.
(150090533) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

" H.I.G. Luxembourg Holdings 56 S.à r.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-1882 Luxembourg, 5, rue Guillaume Kroll.

R.C.S. Luxembourg B 188.872.

Les comptes annuels pour la période du 11 juillet 2014 (date de constitution) au 31 décembre 2014 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 20 mai 2015.

Référence de publication: 2015079459/11.
(150091722) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Hewlett-Packard Luxembourg S.C.A., Société en Commandite par Actions.

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

R.C.S. Luxembourg B 79.540.

La Société a été constituée suivant acte reçu par Maître Gérard Lecuit, notaire de résidence à Hesperange, en date du 5

décembre 2000 publié au Mémorial C, Recueil des Sociétés et Associations n° 538 du 17 juillet 2001.

Les comptes annuels au 31 octobre 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 27 mai 2015.

Pour Hewlett-Packard Luxembourg S.C.A.
Liudmila Gorodnikova

Référence de publication: 2015079484/14.
(150091696) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Lorraine Invest S.A., Société Anonyme.

Siège social: L-4240 Esch-sur-Alzette, 36, rue Emile Mayrisch.

R.C.S. Luxembourg B 146.163.

Extrait du procès-verbal de l'assemblée générale ordinaire du 18 juin 2015

I. L'assemblée générale constate que le mandat d'administrateur de Monsieur Norbert MEISCH, né le 22 août 1950 à

Luxembourg, demeurant professionnellement 36, rue Emile Mayrisch à L-4240 Esch-sur-Alzette, arrive à échéance. L'as-
semblée générale décide à l'unanimité de renouveler son mandat pour une durée de 6 ans. Son mandat prendra fin à l'issue
de l'assemblée générale ordinaire qui se tiendra en 2021 sur les comptes clos au 31.12.2020.

II. L'assemblée générale des actionnaires constate que le mandat de commissaire aux comptes de la société COMMIS-

SAIRE AUX COMPTES S.A., établie et ayant son siège au 44, rue Pasteur à L-4276 Esch-sur-Alzette et immatriculée au
RCS de Luxembourg sous le numéro B131.410, arrive à échéance. L'assemblée générale décide à l'unanimité de renouveler
son mandat pour une durée de 6 ans. Son mandat prendra fin à l'issue de l'assemblée générale ordinaire qui se tiendra en
2021 sur les comptes clos au 31.12.2020.

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

Signature
Un mandataire

Référence de publication: 2015127530/20.
(150137379) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

119574

U X E M B O U R G

Lux-Forêts du Nord S.à r.l., Société à responsabilité limitée.

Siège social: L-9161 Ingeldorf, 3, rue du Prince Guillaume.

R.C.S. Luxembourg B 106.572.

Signature.

Référence de publication: 2015127546/10.
(150136659) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

Saran S.A., Société Anonyme.

Siège social: L-1855 Luxembourg, 44, avenue J.F. Kennedy.

R.C.S. Luxembourg B 17.623.

FIDUPAR
44, avenue J.F. Kennedy
L-1855 Luxembourg
Signatures

Référence de publication: 2015079904/13.
(150091531) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Stoll Safety, Société à responsabilité limitée.

Siège social: L-3364 Leudelange, 2, rue de la Poudrerie.

R.C.S. Luxembourg B 88.873.

Il résulte d'une annulation du contrat de cession de parts sociales de société du 19 décembre 2013 pour non-respect de

la clause suspensive singée en date du 20 juillet 2015, que la répartition du capital social est dorénavant la suivante:

STOLL GROUP SA avec siège social à L-3364 Leudelange, 2, rue de la Poudrerie, inscrite au RCSL sous le numéro

B8862 Total: 100 parts sociales

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

Luxembourg, le 27.07.2015.

G.T. Experts Comptables Sàrl
Luxembourg

Référence de publication: 2015127880/15.
(150136322) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

Luxat, Société Anonyme.

Siège social: L-2546 Luxembourg, 5, rue C.M. Spoo.

R.C.S. Luxembourg B 9.579.

EXTRAIT

L'Assemblée générale ordinaire annuelle du 16 juillet 2015 a accepté la démission présentée par Monsieur Nico BEC-

KER de son mandat d'administrateur.

L'Assemblée a nommé en qualité d'administrateur, Madame Nathalie THUNUS, administrateur de sociétés, demeurant

à B-6780 Messancy, 132, route d'Arlon, son mandat venant à échéance, ensemble avec le mandat des administrateurs en
fonction, à l'issue de l'Assemblée générale ordinaire annuelle de 2016.

Pour extrait conforme
LUXAT
Société anonyme

Référence de publication: 2015127547/16.
(150137061) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

119575

U X E M B O U R G

Purple Grafton S.à r.l., Société à responsabilité limitée.

Capital social: EUR 339.138.824,00.

Siège social: L-1882 Luxembourg, 5, rue Guillaume Kroll.

R.C.S. Luxembourg B 153.247.

Afin de bénéficier de l'exemption de l'obligation d'établir des comptes consolidés et un rapport consolidé de gestion,

prévue par l'article 314 de la loi sur les sociétés commerciales, les comptes consolidés au 31 décembre 2014 de sa société
mère, Unibail-Rodamco 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 12 mai 2015.

Référence de publication: 2015079801/12.
(150091515) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Perinvest (Lux) Sicav, Société d'Investissement à Capital Variable.

Siège social: L-2453 Luxembourg, 12, rue Eugène Ruppert.

R.C.S. Luxembourg B 134.860.

Luxembourg, le 28 mai 2015.

Pour PERINVEST (LUX) SICAV
BANQUE DEGROOF LUXEMBOURG S.A.
Agent Domiciliataire

Référence de publication: 2015079816/13.
(150091550) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 mai 2015.

Truffle Gourmet Russia Holding S.à r.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

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

R.C.S. Luxembourg B 186.980.

La Société prend note du changement de résidence de Monsieur Alberto Berdusco gérant de la Société.
Monsieur Alberto Berdusco réside depuis le 05.05.2015 au 20, rue Charles Bernhoeft, L-1240 Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

TRUFFLE GOURMET RUSSIA HOLDING S.à r.l.
Société à responsabilité limitée
Signatures

Référence de publication: 2015127907/14.
(150136373) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

Tupi Nordeste S.à r.l., Société à responsabilité limitée.

Capital social: USD 16.020.000,00.

Siège social: L-2453 Luxembourg, 19, rue Eugène Ruppert.

R.C.S. Luxembourg B 163.509.

Extrait des résolutions prises par les Associés le 14 mai 2014:

- Nomination de PricewaterhouseCoopers S.à r.l., Réviseur d’entreprises agréé, dont le siège social est situé au 400,

Route d’Esch à L-1014 Luxembourg pour une durée déterminée jusqu'à l'assemblée générale annuelle qui se tiendra en
l’année 2015.

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

Fait à Luxembourg, le 27 juillet 2015.

Le Mandataire

Référence de publication: 2015127908/15.
(150137005) Déposé au registre de commerce et des sociétés de Luxembourg, le 28 juillet 2015.

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U X E M B O U R G

Olea Capital Invest S.A., Société Anonyme.

Siège social: L-4123 Esch-sur-Alzette, 4, rue du Fossé.

R.C.S. Luxembourg B 77.619.

Rectificatif du dépôt N°L130197988 du 21/11/2013

Les comptes annuels au 31/12/2011 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.
Référence de publication: 2015126627/10.
(150138369) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

Alex Arendt S.A., Société Anonyme.

Siège social: L-7737 Colmar-Berg, Zone Industrielle Piret.

R.C.S. Luxembourg B 164.609.

Extrait du procès-verbal de l'assemblée générale ordinaire tenue au siège de la société extraordinairement en date du 20

juillet 2015 à 09.00 heures

L'assemblée constate le changement d'adresse de l'administrateur Charel ARENDT en L -9956 Hachiville, Maison 38.

Pour extrait sincère et conforme
Un administrateur

Référence de publication: 2015128979/12.
(150139169) Déposé au registre de commerce et des sociétés de Luxembourg, le 30 juillet 2015.

Private Lending General Partner S.à.r.l., Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-1219 Luxembourg, 24, rue Beaumont.

R.C.S. Luxembourg B 197.300.

Extrait des résolutions prises par l'associé unique le 14 juillet 2015

L'associé unique a décidé de prendre la résolution suivante:
- Nomination de Deloitte Audit S.à r.l., société anonyme de droit luxembourgeois située au 560, rue de Neudorf, L-2220

Luxembourg, R.C.S. Luxembourg B 67 895, en qualité de réviseurs d'entreprises de la Société avec effet au 22 mai 2015
et pour une durée illimitée.

Pour copie conforme
Signature

Référence de publication: 2015126655/15.
(150137535) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

Orox Capital Investment, Société Anonyme sous la forme d'une SICAV - Fonds d'Investissement Spécialisé.

Siège social: L-2535 Luxembourg, 20, boulevard Emmanuel Servais.

R.C.S. Luxembourg B 129.567.

Extrait des résolutions de l'Assemblée Générale Ordinaire des Actionnaires tenue à Luxembourg le 2 juillet 2015:

- L'Assemblée Générale décide de réélire Charles Spierer, Pierre Jacquot , Christoph Lanz et Guy Verhoustraeten en

tant qu'administrateurs pour une période d'un an prenant fin à l'issue de l'Assemblée Générale Ordinaire qui se tiendra en
2016

- L'Assemblée Générale décide de réélire le Réviseur d'Entreprises, KPMG Luxembourg pour une période d'un an

prenant fin à l'issue de l'Assemblée Générale Ordinaire qui se tiendra en 2016.

A l'issue de l'Assemblée Générale Ordinaire,
Le Réviseur d'Entreprises est:
KPMG Luxembourg, ayant son siège social au 39 Avenue John F. Kennedy; L-1855 Luxembourg

Luxembourg, le 28 juin 2015.

Référence de publication: 2015126633/17.
(150138023) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

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

Siège social: L-2359 Luxembourg, 43, rue Camille Polfer.

R.C.S. Luxembourg B 178.627.

Les comptes annuels au 31.12.2014 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: 2015126483/9.
(150137311) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

LSREF3 Lagoon GP (Luxembourg) S.à r.l., Société à responsabilité limitée.

Siège social: L-8070 Bertrange, 33, rue du Puits Romain.

R.C.S. Luxembourg B 181.719.

Le bilan au 31 décembre 2014 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.

Bertrange, Grand Duché de Luxembourg, le 28 juillet 2015.

Un mandataire

Référence de publication: 2015126475/11.
(150137825) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

LSREF3 Octopus Reo S.à r.l., Société à responsabilité limitée.

Siège social: L-8070 Bertrange, 33, rue du Puits Romain.

R.C.S. Luxembourg B 188.680.

Le bilan pour la période du 11 juillet 2014 (date de constitution) au 31 décembre 2014 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.

Bertrange, Grand-Duché de Luxembourg, le 28 juillet 2015.

Un mandataire

Référence de publication: 2015126481/12.
(150138557) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

LSREF3 Octopus Investments S.à r.l., Société à responsabilité limitée.

Capital social: EUR 4.637.000,00.

Siège social: L-8070 Bertrange, 33, rue du Puits Romain.

R.C.S. Luxembourg B 182.247.

EXTRAIT

Il résulte du procès-verbal des résolutions de l'associé de la Société prises en date du 30juin 2015 que:
- Ernst & Young S.A., une société anonyme, ayant son siège au 7, rue Gabriel Lippmann, L-5365 Münsbach et enregistrée

au Registre de Commerce et de Sociétés de Luxembourg sous le numéro n B 47771, a été nommé comme réviseur d'en-
treprise agréé de la Société pour la période du 1

janvier 2015 au 31 décembre 2015.

Conseil de gérance de la Société:

- M. Patrick Steinhauser, résidant professionnellement au Atrium Business Park-Vitrum, 33, rue du Puits Romain,

L-8070 Bertrange, Grand Duché de Luxembourg, Gérant.

- M. Philippe Detournay, résidant professionnellement au Atrium Business Park-Vitrum, 33, rue du Puits Romain,

L-8070 Bertrange, Grand Duché de Luxembourg, Gérant.

- M. Philippe Jusseau, résidant professionnellement au Atrium Business Park-Vitrum, 33, rue du Puits Romain, L-8070

Bertrange, Grand Duché de Luxembourg, Gérant.

Pour extrait conforme
Un mandataire

Référence de publication: 2015126479/22.
(150138553) Déposé au registre de commerce et des sociétés de Luxembourg, le 29 juillet 2015.

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Tracol Construction S.A., Société Anonyme.

Siège social: L-5326 Contern, 1, rue Goell, Z.I. Weiergewan.

R.C.S. Luxembourg B 132.670.

L'an deux mille quinze, le premier juillet;
Pardevant Nous Maître Carlo WERSANDT, notaire de résidence à Luxembourg (Grand-Duché de Luxembourg), sous-

signé;

S'est réunie

l'assemblée générale extraordinaire des actionnaires (l'“Assemblée”) de “Tracol Construction S.A.”, une société ano-

nyme régie par les lois du Grand-Duché de Luxembourg, établie et ayant son siège social à L-5326 Contern, 1, rue Goell,
inscrite au Registre de Commerce et des Sociétés de Luxembourg, section B, sous le numéro 132670, (la “Société”),
constituée suivant acte reçu par Maître Emile SCHLESSER, notaire de résidence à Luxembourg, le 8 octobre 2007, publié
au Mémorial C, Recueil des Sociétés et Associations, numéro 2624 du 16 novembre 2007,

et dont les statuts (les “Statuts”) ont été modifiés à plusieurs reprises et pour la dernière fois suivant acte reçu par le

notaire instrumentant, en date du 25 février 2014, publié au Mémorial C, Recueil des Sociétés et Associations, numéro
1283 du 20 mai 2014.

L’Assemblée est présidée par Monsieur Fernand CAIXINHA, employé privé, demeurant professionnellement à L-5326

Contern, 1, rue Goell.

Le Président désigne comme secrétaire et l'Assemblée choisit comme scrutatrice Madame Véronique REGENWETTER,

maître peintre-décorateur, demeurant à L-1280 Luxembourg, 1, rue Père Jacques Brocquart.

Le bureau ayant ainsi été constitué, le Président a déclaré et requis le notaire instrumentant d'acter:
A) Que l'ordre du jour de l'Assemblée est le suivant:

Ordre du jour:

1. Augmentation du capital social à concurrence de EUR 500.000,-(cinq cent mille euros) pour le porter de son montant

actuel de EUR 900.000,-(neuf cent mille euros) à EUR 1.400.000,- (un million quatre cent mille euros), par la création et
l’émission de 5.000 (cinq mille) actions nouvelles, toutes avec une valeur nominale de EUR 100,- (cent euros), bénéficiant
des mêmes droits et avantages que les actions existantes, toutes entièrement souscrites et libérées par l’actionnaire unique,
moyennant versement en numéraire.

2. Modification subséquente du premier alinéa de l’article 3 des statuts afin de lui donner la teneur suivante:
«Le capital social est fixé à un million quatre cent mille euros (EUR 1.400.000,-), divisé en quatorze mille (14.000)

actions de cent euros (EUR 100,-) chacune.»

B) Que les actionnaires, présents ou représentés, ainsi que le nombre d'actions possédées par chacun d'eux, sont portés

sur une liste de présence; cette liste de présence est signée par les actionnaires présents, les mandataires de ceux représentés,
les membres du bureau de l'Assemblée et le notaire instrumentant.

C) Que les procurations des actionnaires représentés, signées “ne varietur” par les membres du bureau de l'Assemblée

et le notaire instrumentant, resteront annexées au présent acte pour être formalisée avec lui.

D) Que l'intégralité du capital social étant présente ou représentée et que les actionnaires, présents ou représentés,

déclarent avoir été dûment notifiés et avoir eu connaissance de l'ordre du jour préalablement à cette Assemblée et renoncer
aux formalités de convocation d'usage, aucune autre convocation n'était nécessaire.

E) Que la présente Assemblée, réunissant l'intégralité du capital social, est régulièrement constituée et peut délibérer

valablement sur les objets portés à l'ordre du jour.

Ensuite l'Assemblée, après délibération, a pris à l'unanimité la résolution suivante:

Première résolution

L’Assemblée décide d’augmenter le capital social à concurrence de EUR 500.000,- (cinq cent mille euros) pour le porter

de son montant actuel de EUR 900.000,-(neuf cent mille euros) à EUR 1.400.000,- (un million quatre cent mille euros),
par la création et l’émission de 5.000 (cinq mille) actions nouvelles, toutes avec une valeur nominale de EUR 100,- (cent
euros), bénéficiant des mêmes droits et avantages que les actions existantes.

Souscription et libération

L’Assemblée constate que les 5.000 (cinq mille) actions nouvelles ont été souscrites et entièrement libérées par l’ac-

tionnaire unique de la Société moyennant un versement en numéraire, de sorte que la somme de cinq cent mille euros (EUR
500.000), se trouve dès à présent à la libre disposition de la société, ainsi qu'il en a été justifié au notaire par une attestation
bancaire, qui le constate expressément.

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Deuxième résolution

Afin de refléter ce qui précède, l'Assemblée décide de modifier le premier alinéa de l'article 3 des statuts et de lui donner

la teneur suivante:

«Le capital social est fixé à un million quatre cent mille euros (EUR 1.400.000,-), divisé en quatorze mille (14.000)

actions de cent euros (EUR 100,-) chacune.»

Aucun autre point n'étant porté à l'ordre du jour de l'Assemblée et aucun des actionnaires présents ou représentés ne

demandant la parole, le Président a ensuite clôturé l'Assemblée.

Frais

Le montant total des frais, dépenses, rémunérations ou charges, sous quelque forme que ce soit, qui incombent à la

Société, ou qui sont mis à sa charge à raison des présentes, est évalué approximativement à mille huit cents euros (EUR
1.800,-).

DONT ACTE, le présent acte a été passé à Luxembourg, à la date indiquée en tête des présentes.
Après lecture du présent acte aux comparants, connus du notaire par noms, prénoms, état civil et domiciles, lesdits

comparants ont signé avec Nous, notaire, le présent acte.

Signé: V. REGENWETTER, F. CAIXINHA, C. WERSANDT.
Enregistré à Luxembourg A.C. 2, le 7 juillet 2015. 2LAC/2015/15125. Reçu soixante-quinze euros 75,00 €.

Le Receveur (signé): André MULLER.

POUR EXPEDITION CONFORME, délivrée;

Luxembourg, le 22 juillet 2015.

Référence de publication: 2015129995/74.
(150139922) Déposé au registre de commerce et des sociétés de Luxembourg, le 30 juillet 2015.

NN (L) CMF, Société d'Investissement à Capital Variable,

(anc. ING International Currency Management Fund).

Siège social: L-2350 Luxembourg, 3, rue Jean Piret.

R.C.S. Luxembourg B 40.811.

In the year two thousand fifteen, on the twelfth day of August,
Before Maître Carlo WERSANDT, notary, residing in Luxembourg, acting in replacement of Maître Henri HEL-

LINCKX, notary, residing in Luxembourg, who will be the depositary of the present deed,

was held

an extraordinary general meeting of the shareholders of ING International Currency Management Fund, a société d’in-

vestissement à capital variable governed by the laws of the Grand Duchy of Luxembourg, with registered office at 3, rue
Jean Piret, L-2350 Luxembourg, Grand Duchy of Luxembourg, incorporated on 17 July 1992, published in the Mémorial
C, Recueil des Sociétés et Associations (the “Mémorial C”), number 358 and registered at the Luxembourg Trade and
Companies Registry under number B 40 811 (the "Company").

The meeting is presided by Daniela Arena, with professional address in Luxembourg, who appointed as secretary Laure

Gérard, with professional address in Luxembourg.

The meeting elected as scrutineer Mathieu Thiry, with professional address in Luxembourg.
The bureau of the meeting having thus been constituted, the chairman declared and requested the notary to record the

following statements and declarations:

(i) That the agenda of the meeting was the following:
1 As from 17 August 2015 (hereinafter the “Effective Date”), change of the name of the Company from “ING Interna-

tional Currency Management Fund” to “NN (L) CMF” in order to align with the rebranding of the other ING investment
entities and consequent amendments to the Articles so as to reflect the new name of the Company;

2 As from the Effective Date, amendment of the Articles so as to reflect the latest legal and regulatory changes following

the entry into force of the Luxembourg law of 17 December 2010 relating to undertakings for collective investment, and
of the Luxembourg law of 28 July 2014 concerning the compulsory deposit and immobilisation of shares and units in bearer
form, and at the same time to improve the efficiency of the Company;

3 As from the Effective Date, restatement for clarification purpose, of the articles 1, 5, 6, 16 (formerly article 13), 33

(formerly article 29), 35 (formerly article 31);

4 As from the Effective Date, addition of a new article 7 on Sub-Funds;
5 As from the effective date, amendment of articles 3, 8, (formerly article 7), 10, 11, 12 (all 3 formerly article 12), 13

(formerly article 10), 14, 15 (all 2 formerly article 11), 25, 28 (formerly article 16), 29 (formerly article 17), 30 (formerly
article 32); 31 (formerly article 33);

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U X E M B O U R G

6 As from the Effective Date, removal from the Articles of the following former articles 26 providing the possibility for

the Company to compensate its directors against expenses reasonably incurred reason of their functions, as adequate in-
surance at the Group level already covers such risks; article 27 providing for the Company the possibility to allocate to the
directors a fixed annual sum for their work; article 28 providing the possibility for the Company to enter into investment
advisory agreement; article 33b on the appointment of the management company; article 33c on the distributors and financial
service providers; article 34 on the costs charged to the Company; article 34a on the remuneration of the Board of Directors
and article 36 on the withdrawal of marketing authorisation;

7 As from the Effective Date, subsequent renumbering of the Articles and update of the relevant cross-references in the

Articles;

8 As from the Effective Date, simultaneous change of the language of the Articles, that shall be established in English

language only;

9 Miscellaneous.
(ii) Convening notices setting forth the agenda of the meeting were circulated and published as follows:
a) On 9 July 2015, the convening notice was sent via registered mail to all the shareholders listed in the shareholders

b) On 9 July 2015 and on 25 July 2015, the convening notice was published in the “Luxemburger Wort”; in the “Mémorial

C”; in “L’Echo”; in “De Tijd” and in “Het Financieele Dagblatt”.

(iii) The shareholders present or represented, the proxies of the represented shareholders and the number of shares held

by them are entered on an attendance list attached to these minutes and duly signed by the attending shareholders or their
representatives respectively.

The proxies of the represented shareholders are initialled by the members of the bureau of the meeting. The attendance

list as well as the proxies of the represented shareholders signed “ne varietur” will remain annexed to this deed and will be
registered with the deed.

(iv) It appears from the attendance list that out of the 3,033,171.66 issued shares representing the whole share capital

of the Company, one share is present or validly represented at the present extraordinary general meeting by proxy.

(v) On June 26

, 2015, a first extraordinary general meeting of shareholders was convened to vote on the above

mentioned agenda. However, such first extraordinary general meeting did not reach the necessary quorum requirements
under Luxembourg law, which is why today’s extraordinary general meeting, which is not subject to any quorum requi-
rements, was convened to resolve on the above mentioned agenda.

(vi) This meeting is therefore validly constituted and may validly deliberate and resolve on the points of the agenda.
After deliberation, the meeting took the following resolutions as provided below:

First resolution

As from 17 August 2015 (hereinafter the “Effective Date”), change of the name of the Company from “ING International

Currency Management Fund” to “ING (L) CMF” in order to align with the rebranding of the other ING investment entities
and consequent amendments to the Articles so as to reflect the new name of the Company.

This resolution has been unanimously adopted.

Second resolution

As from the Effective Date, amendment of the Articles so as to reflect the latest legal and regulatory changes following

This resolution has been unanimously adopted.

Third resolution

As from the Effective Date, restatement for clarification purpose, of the articles 1, 5, 6, 16 (formerly article 13), 33

(formerly article 29), 35 (formerly article 31);

This resolution has been unanimously adopted.

Fourth resolution

As from the Effective Date, addition of a new article 7 on Sub-Funds;
This resolution has been unanimously adopted.

Fifth resolution

As from the effective date, amendment of articles 3, 8, (formerly article 7), 10, 11, 12 (all 3 formerly article 12), 13

(formerly article 10), 14, 15 (all 2 formerly article 11), 25, 28 (formerly article 16), 29 (formerly article 17), 30 (formerly
article 32); 31 (formerly article 33);

This resolution has been unanimously adopted.

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U X E M B O U R G

Sixth resolution

As from the Effective Date, removal from the Articles of the following former article 26 providing the possibility for

This resolution has been unanimously adopted.

Seventh resolution

As from the Effective Date, subsequent renumbering of the Articles and update of the relevant cross-references in the

Articles;

This resolution has been unanimously adopted.

Eighth resolution

As from the Effective Date, simultaneous change of the language of the Articles, that shall be established in English

language only;

This resolution has been unanimously adopted.
As a consequence, the Articles of the Company shall be read as follows as from 17 August 2015:

Chapter I. - Name, 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 public limited company ("société anonyme") qualifying as an investment company with variable share capital
("société d'investissement à capital variable") under the name of NN (L) CMF (hereinafter the "Company"). The Company
shall be governed by the Law of 17 December 2010 relating to undertakings for collective investments, (the “2010 Law”)
and by these articles of association. The Company qualifies as alternative investment fund (“AIF”) in accordance with the
law of 12 July 2013 on alternative investment fund managers (the “2013 Law”).

Art. 2. Term. The Company has been established for an indefinite term.

Art. 3. Object. The Company's sole object is to manage investments on behalf of its Shareholders with a view to enabling

Shareholders to benefit from the results generated as a result of its portfolio management.

The Company may take any measures and carry out any operations that it deems useful for the accomplishment and

development of its object in the broadest sense within the limits of Part II of the 2010 Law. The Company’s investment
policy allows for the investment of 20% or more of the net assets in securities other than transferable securities and/or other
liquid financial assets referred to in article 41(1) of the 2010 Law.

Art. 4. Registered office. The registered office is established in Luxembourg. By simple decision of the Board of Di-

rectors, branches or offices may be established both in Luxembourg and in other countries.

If the Board of Directors considers that extraordinary events of a political or military nature are occurring or appear

imminent and are liable to compromise normal business at its registered office or this registered office’s normal commu-
nication with other countries, it may temporarily transfer the registered office to another country until complete cessation
of such abnormal circumstances; however, such temporary measure shall have no effect on the nationality of the Company,
which, notwithstanding such temporary transfer, shall remain of Luxembourg nationality.

Chapter II. - Capital

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

be equal to the total value of the net assets of the Company and its Sub-Funds. The minimum capital of the Company cannot
be lower than the level provided for in Article 94 of 2010 Law.

In case where one or several Sub-Funds of the Company hold shares that have been issued by one or several other Sub-

Funds of the Company, their value will not be taken into account for the calculation of the net assets of the Company for
the purpose of the determination of the above mentioned minimum capital. Such minimum capital must be reached within
a period of six months after the date on which the Company has been authorised as an undertaking for collective investment
under Luxembourg law.

For the purposes of the consolidation of the accounts the base currency of the Company shall be Euro (EUR).

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

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

Art. 7. Sub-Funds. The board of directors may, at any time, create different categories of shares, each one corresponding

to a distinct part or “sub-fund” of the Company's net assets (hereinafter referred to as a “Sub-Fund”). It shall assign a
particular name to them, which it may amend, and may limit or extend their lifespan if it sees fit.

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U X E M B O U R G

As between shareholders, each portfolio of assets shall be invested for the exclusive benefit of the relevant Sub-Fund

or Sub-Funds. The Company shall be considered as one single legal entity. However, with regard to third parties, in
particular towards the Company’s creditors, each Sub-Fund shall be exclusively responsible for all liabilities attributable
to it.

The Board of Directors, acting in the best interest of the Company, may decide, in the manner described in the sales

documents of the shares of the Company, that all or part of the assets of two or more Sub-Funds be co-managed amongst
themselves on a segregated or on a pooled basis.

For the purpose of determining the capital of the Company, the net assets attributable to each Sub-Fund shall, if not

expressed in Euro, be converted into Euro and the capital shall be the total of the net assets of all Sub-Funds and shares
classes.

Chapter III. - Shares

Art. 8. Share classes. The Board of Directors may decide to issue one or more share classes for each sub-fund. These

may be reserved to a particular group of investors, e.g. investors from a specific country, or institutional investors.

The share classes may differ from one another with regard to their cost structure, minimum initial investment or any

other feature.

There may be one or more capitalisation share-types and one or more distribution share-type for each share class.

Distribution shares entitle their holders to dividends or interim dividends in accordance with Art. 35 below. Any payment
of dividends or interim dividends will increase the ratio between the value of capitalisation shares and the value of distri-
bution shares concerned. This ratio is referred to as the “parity” in these articles of association. The Board of Directors sets
the initial parity for each sub-fund or share type.

If there are both capitalisation shares and distribution shares, the shares may be converted on the basis of the parity at

that moment.

Each share-type - capitalisation and/or distribution - may be subdivided into 'Hedged' or 'Unhedged' sub-types. Shares

shall be described as 'Hedged' if their assets denominated in currencies other than the reference currency are covered against
the exchange rate risk. Conversely, shares shall be described as 'Unhedged' if there is no currency cover.

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

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

The Board of Directors may decide not to or to no longer issue a particular type of shares in one or more sub-funds.

Art. 9. Form of shares. The Board of Directors shall determine whether the Company shall issue bearer and/or registered

shares, whether in dematerialised form or not, to the extent permitted by law and under the conditions specified in the sales
documents of the Company.

The Board of Directors may decide, at its entire discretion, whether or not to issue certificates in respect of registered

shares, as specified in the sales documents of the Company. In case the Board of Directors has elected to issue no certificates,
a shareholder shall receive, upon his request, a written confirmation of his shareholding.

The share certificates, if issued, shall comply with the requirements set out under the law of 10 August 1915 on com-

mercial companies, as amended.

In case share certificates are issued, the Board of Directors may decide, at its entire discretion, to replace a share certificate

which has been mislaid, mutilated or destroyed, as specified in the sales documents of the Company.

All issued registered shares of the Company shall be registered in the register of shareholders, which shall be kept in

compliance with applicable laws.

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

registered shares.

Shareholders entitled to receive registered shares shall provide the Company with all the information requested under

applicable laws, including an address to which all notices and announcements may be sent. Such address will also be entered
into the register of shareholders.

At the entire discretion of the Board of Directors, bearer shares may be issued in book entry bearer form or immobilised

form, as specified in the sales documents of the Company.

All bearer shares of the Company shall be registered in the bearer share register which shall be kept by the bearer shares

depositary in compliance with applicable laws, as further specified in the sales documents of the Company.

Ownership of bearer shares will be evidenced by the registration in the bearer share register. Upon written request by

the shareholder concerned, the bearer shares depositary may issue a written confirmation of the shares registered for such
shareholder in the bearer share register.

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

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

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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 Sub-Fund or class of shares on a pro rata basis.

Art. 10. Issue of shares. The Board of Directors is authorised to issue new fully paid-up shares at any time, the price

being the respective net asset value per sub-fund and share category, determined in accordance with article 14 of the articles
of association, plus issuance fees shown in sales documents, without giving preferential subscription rights to existing
shareholders.

Any compensation owed to agents involved in placing these shares will be taken from these fees. The price calculated

in this manner will be payable within a period as determined by the Board of Directors and shall not exceed ten business
days from the relevant Valuation day.

The Board of Directors may impose restrictions on the frequency at which shares shall be issued in any shares class and/

or in any Sub-Fund; the Board of Directors may, in particular, decide that shares of any class and/or of any Sub-Fund shall
only be issued during one or more offering periods or at such other periodicity as provided for in the sales documents for
the shares of the Company.

Furthermore, the Board of Directors may impose specific requirements in relation to the minimum amount of the ag-

gregate net asset value of shares to be initially subscribed, the minimum amount of any additional investments and the
minimum of any holding of shares.

The Board of Directors may decide not to issue or to cease issuing classes, types or sub-types of shares (i.e. bearer

shares) in one or more compartments.

The Board of Directors may appoint any duly authorised director or manager of the Company, or any other duly au-

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

At the risk of being declared null and void, any subscription to new shares must be fully paid up and shares issued shall

carry the same rights as shares already existing on the issue date.

The Board of Directors may allow subscriptions to be made in cash or in kind. The nature and type of assets to be

accepted in any such case shall be determined by the Board of Directors and must correspond to the investment policy and
restrictions of the Sub-Fund being invested in. In this case, non-cash subscriptions will be subject to a report drawn up by
the Company’s independent auditor. Subscriptions in kind may only be made provided that equal treatment is afforded to
shareholders. Any cost resulting from such a subscription in kind is supported by the shareholder who has requested the
subscription in kind.

Art. 11. Redemption. Each shareholder has the right to ask the Company to buy back some or all of their shares, under

the terms and procedures set forth by the Board of Directors in the sales documents for the shares and within the limits
provided by the laws and these Articles. The redemption price will be paid within a period as determined by the Board of
Directors which shall not exceed ten business days from the relevant Valuation Day, as is determined in accordance with
such policy as the Board of Directors may from time to time determine, and will be equal to the net value of shares as
calculated in accordance with the provisions of article 14 below, minus any redemption fee as shown in the SICAV’s sales
documents. The relevant redemption price may be rounded up or down to the nearest unit of the relevant currency as the
Board of Directors shall determine. Shareholders must send all redemption requests in writing to the Company’s registered
office or to any other person who the Company has legally authorised to buy back shares. Any share certificate(s) together
with all unmatured coupons must be attached to the request.

If as a result of any request for redemption, the number or the aggregate net asset value of the shares held by any

shareholder in any shares class would fall below such number or such net asset value as determined by the Board of
Directors, then the Company may decide that this request be treated as a request for redemption for the full balance of such
shareholder's holding of shares in such class.

Further, the Board of Directors may decide the compulsory redemption of all the shares held by a shareholder in any,

several or all classes of shares, if the aggregate net asset value of shares held by the relevant shareholder falls below such
value as determined by the Board of Directors. If on any given date redemption requests pursuant to this Article and
conversion requests pursuant to Article 12 hereof exceed a certain level determined by the Board of Directors in relation
to the number of shares in issue of a specific Sub-Fund or class, the Board of Directors may decide that part or all of such
requests for redemption or conversion will be deferred for a period and in a manner that the board considers to be in the
best interests of the Company. On the next Valuation Day following that period, these redemption and conversion requests
will be met in priority to later requests.

The Company may, following a decision taken by the Board of Directors of the Company, make redemption payments

in kind by allocating investments from the pool of assets with respect to the Share-Class or classes concerned up to the
limit of the value calculated on the Valuation Day on which the redemption price is calculated. Redemptions other than in
cash will be the subject of a report drawn up by the Company’s independent auditor. A redemption in kind is only possible
provided that (i) equal treatment is afforded to Shareholders, that (ii) the Shareholders concerned have so agreed and that
(iii) the nature and type of assets to be transferred are determined on a fair and reasonable basis and without harming the
interests of the other Shareholders of the relevant Share-Class or Classes. Any costs resulting from such a redemption in
kind are supported by the redeeming shareholders.

Shares redeemed by the Company will be cancelled in the Company accounts.

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Art. 12. Conversion of shares. Shareholders may ask to convert some or all of their shares into shares of another sub-

fund and/or share class, provided that the Board of Directors may (i) set restrictions, terms and conditions as to the right
for and frequency of conversions between certain Sub-Funds and/or shares class and (ii) subject them to the payment of
such charges and commissions as it shall determine and specify in the sales documents of the Company. The price for the
conversion of shares shall be computed by reference to the respective net asset values per share concerned, calculated on
the same Valuation Day. If there is no common Valuation Day for any two classes, the conversion will be made on the
basis of the net asset value calculated on the next following Valuation Day of each of the two classes concerned.

If distribution and capitalisation shares are both issued and outstanding for one or more Sub-Funds, the holders of

distribution shares may convert some or all of their shares into capitalisation shares and vice-versa. The conversion will
be made at a price equal to the respective net asset values, calculated in accordance with article 14 of these articles of
association.

If as a result of any request for conversion the number or the aggregate net asset value of the shares held by any

shareholder in any Sub-Fund and/or shares class would fall below such number or such value as determined by the Board
of Directors, then the Company may decide that this request be treated as a request for conversion for the full balance of
such shareholder's holding of shares in such Sub-Fund and/or class.

The Company may also issue, redeem and convert fractions of shares in each sub-fund.
Subscription, redemption and conversion requests are received at the offices of companies appointed for this purpose

by the Board of Directors.

Art. 13. Limitations on share ownership. The Board of Directors may restrict or impede the ownership of Company’s

shares by any natural person or legal entity if the Company believes that such ownership would breach Luxembourg law
or any other law, or means that the Company is taxable in a country other than Luxembourg, or may be detrimental to the
Company in any other way.

To this end, the Company may:
a) refuse to issue shares if it appears that such issue or transfer would or could result in the ownership of these shares

being attributed to a person who is not authorised to hold the Company’s shares.

b) order the compulsory purchase of all shares if it appears that a person who is not authorised to hold the Company’s

shares, either alone or with other persons, owns shares in the Company, or order the compulsory purchase of some or all
of the shares if the Company believes that one or more persons own a percentage of the Company’s shares such that the
Company becomes subject to tax or other laws in jurisdictions outside Luxembourg. In this case, the following procedure
shall apply:

1. the Company shall send a notice (hereinafter the “redemption notice”) to the shareholder in possession of the shares;

the redemption notice shall state which shares are to be redeemed, the redemption price payable and the place where such
price shall be paid. The redemption notice may be sent by registered letter to the shareholder’s last known address.

The shareholder in question shall be required to immediately return any certificate(s) representing the shares specified

in the redemption notice to the Company, together with all unmatured coupons, if any. The shareholder in question shall
cease to be the owner of the shares specified in the redemption notice with effect from the close of business on the day
specified in the redemption notice, and the certificate(s) representing these shares shall be cancelled in the Company
accounts;

2. the price at which the shares specified in the redemption notice are to be redeemed (the “redemption price”) will be

equal to the net asset value of the Company’s shares, calculated in accordance with article 14 of these articles of association
on the day of the redemption notice;

3. the redemption price will be paid to the holder of these shares, the Company will deposit the price as specified on the

redemption notice for payment to such owner, upon delivery, where applicable, of any certificate(s) representing the shares
referred to on the redemption notice together with the unmatured coupons. Once the price has been deposited on these
terms, no person concerned by the shares mentioned in the redemption notice may exercise any right attached to such shares
or take any action against the Company and its assets, except the right of the shareholder who appears to own the shares
to receive the price deposited at the bank (without interest) in exchange for, where applicable any certificate(s) and the
unmatured coupons issued;

4. the exercise by the Company of the powers conferred in this article shall under no circumstances be challenged or

invalidated on the grounds that the Company had insufficient proof of ownership of the shares by a certain person when it
sent the redemption notice, provided that the Company has exercised its powers in good faith; and

c) may refuse to grant voting rights at any general meeting of shareholders to any person who is not authorised to hold

the Company’s shares.

In particular, the SICAV may limit or ban the ownership of the Company’s shares by any “US person” as defined in

Rule 902 of Regulation S under the Securities Act. Applicants may be required to declare that they are not US Persons and
that they are neither acquiring Shares on behalf of US Persons nor acquiring Shares with the intent to sell to US Persons.

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

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or governed by the law of the United States of America or any person falling within a definition of US Person under relevant
applicable US law.

The Shares of the Company may, however, be offered to investors that qualify as US Persons as defined under the

Foreign Account Tax Compliance Act (“FATCA”), under the condition that such investors do not qualify as US Persons
according to Rule 902 of Regulation S under the Securities Act.

Art. 14. Net Asset Value. The Company will calculate the net asset value of shares in each Sub-Fund of the Company

periodically as the Board of Directors decides, the minimum frequency being set at twice a month (the day on which the
shares’ net value is calculated is referred to as the “Valuation Day” in these articles of association). If the Valuation Day
is a public or bank holiday in Luxembourg, the valuation day will by the next business day.

The net asset value is expressed in the currency in which each sub-fund is denominated; the Board of Directors may

decide to change the currency. The net asset value is calculated, where appropriate, for each share category of the Sub-
Fund concerned by dividing the net assets attributed to this category by the total number of shares in this category in
circulation on the valuation day.

The net assets of the SICAV’s different sub-funds will be valued as follows:
I. The SICAV’s assets notably include:
1. all cash at hand or on deposit, including interest due but not yet received and interest accrued on these deposits up to

the valuation day;

2. all bills and demand notes and accounts receivable, including proceeds of securities sold where the price has not yet

been received;

3. all certificates, units, shares, bonds, options or subscription rights and other investments and transferable securities

owned by the SICAV;

4. all dividends and payouts to be received by the SICAV in cash or securities, insofar as the SICAV was aware of them;
5. all interest due but not yet received and all interest generated by shares owned by the SICAV up to the valuation day

unless this interest is included in the principal of these securities;

6. the SICAV’s start-up costs insofar as these have not been amortised;
7. all other assets of any kind, including income from swaps as well as pre-paid expenses.
II. The SICAV’s liabilities notably include:
1. all borrowings, bills due and accounts payable;
2. all known obligations, whether due or not, including all contractual obligations due and covering payments in cash

or in kind, including the amount of dividends announced by the SICAV but not yet paid;

3. all reserves, authorised or approved by the Board of Directors, in particular those set aside to cover a potential capital

loss on some of the SICAV’s investments;

4. all other SICAV liabilities of any kind. To value the amount of these other liabilities, the SICAV will take into account

all spending for which it is responsible, including but not limited to: start-up costs and the subsequent cost of amending
the articles of association; fees and commissions payable to investment advisers, investment managers, accountants, cus-
todians and corresponding agents, domiciliary agents, administrative agents, transfer agents, paying agents or other agents
and employees of the SICAV, as well as permanent representatives of the SICAV in countries where it is registered; legal
and annual audit fees for the SICAV; advertising costs; the cost of printing and publishing share sale documents; the cost
of printing annual and interim reports; the cost of holding shareholders’ meetings and meetings of the Board of Directors;
reasonable travel expenses incurred by directors and managers; directors’ fees; registration declaration expenses; all taxes
and duties levied by government authorities and securities exchanges; expenses incurred in the publication of issue and
redemption prices as well as all other operating expenses including financial, banking and brokerage expenses incurred
during the purchase or sale of assets or otherwise; and all other business expenses incurred by the SICAV.

To value the amount of these liabilities, the SICAV will take into account regular or irregular administrative and other

spending on a pro-rata basis.

III. The value of assets shall be determined as follows:
1. 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 deemed the full amount
thereof, unless in any case the same is unlikely to be paid or received in full, in which case the value thereof shall be arrived
at after making such discount as the Board of Directors may consider appropriate in such case to reflect the true value
thereof;

2. 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 furnished by a recognised pricing service approved
by the board of directors. 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 valued at a fair value at which it is expected that they may be resold,
as determined in good faith by and under the direction of the Board of Directors;

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3. the value of securities and money market instruments which are not quoted or dealt in on any regulated market will

be based on the last available price, unless such price is not representative of their true value; in this case, they may be
valued at a fair value at which it is expected that they may be resold, as determined in good faith by and under the direction
of the Board of Directors;

4. the amortised cost method of valuation for short-term transferable debt securities in certain Sub-Funds of the Company

may be used. This method involves valuing a security at its cost and thereafter assuming a constant amortization to maturity
of any discount or premium regardless of the impact of fluctuating interest rates on the market value of the security. While
this method provides certainty in valuation, it may result in periods during which value as determined by amortised cost,
is higher or lower than the price the Sub-Fund would receive if it sold the securities. For certain short term transferable
debt securities, the yield to a shareholder may differ somewhat from that which could be obtained from a similar sub-fund
which marks its portfolio securities to market each day.

5. the value of the participations in investment funds shall be based on the last available valuation. Generally, partici-

pations in investment funds will be valued in accordance with the methods described in the instruments governing such
investment funds. These valuations shall normally be provided by the fund administrator or valuation agent of an investment
fund. To ensure consistency within the valuation of each Sub-Fund, if the time at which the valuation of an investment
fund was calculated does not coincide with the valuation time of any Sub-Fund, and such valuation is determined to have
changed materially since it was calculated, then the Net Asset Value may be adjusted to reflect these changes as determined
in good faith by and under the direction of the Board of Directors.

6. the valuation of swaps 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.

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

on exchanges or on other regulated markets, will be based on their net liquidating value determined, pursuant to the policies
established by the board of directors, on a basis consistently applied for each variety of contract. The net liquidating value
of a derivative position is to be understood as the net unrealised profit/loss with respect to the relevant position. The valuation
applied is based on or controlled by the use of a model recognised and of common practice on the market.

8. the value of other assets will be determined prudently and in good faith by and under the direction of the board of

directors in accordance with generally accepted valuation principles and procedures.

The Board of Directors, in its discretion, may permit some other method of valuation to be used if it considers that such

valuation better reflects the fair value of any asset of the Company.

The valuation of the Company's assets and liabilities expressed in foreign currencies shall be converted into the currency

of the Sub-Fund concerned, based on the latest known exchange rates.

All valuation regulations and determinations shall be interpreted and made in accordance with generally accepted ac-

counting principles.

Adequate provisions will be made, Sub-Fund by Sub-Fund, for the expenses incurred by each of the Sub-Funds of the

Company and due account will be taken of any off-balance sheet liabilities in accordance with fair and prudent criteria.

In each Sub-Fund, and for each class of shares, the net asset value per share shall be calculated in the calculation currency

of the net asset value of the relevant class, by a figure obtained by dividing, on the Valuation Day, the net assets of the
class of shares concerned, constituted by the assets of this class of shares minus the liabilities attributable to it, by the
number of shares issued and in circulation for the class of shares concerned.

If in a class of share there are both distribution and capitalisation shares, the net asset value of a distribution share in a

given class of share will at all times be equal to the amount obtained by dividing the portion of net assets of this class of
share then attributable to all of the distribution shares by the total number of distribution shares in this class then issued
and in circulation.

Similarly, the net asset value of a capitalisation share in a given class of share will at all times be equal to the amount

obtained by dividing the portion of net assets of this class of share then attributable to all the capitalisation shares by the
total number of capitalisation shares in this class then issued and in circulation.

If in a given type of share there are both hedged and unhedged sub-types of share, the net asset value of a hedged share

in a given type of share will at all times be equal to the amount obtained by dividing the portion of net assets of this type
of share then attributable to all of the sub-types of hedged share, taking account of the result of the specific currency hedging
operation and any other factor attributable to this sub-type of share, by the total number of shares of the hedged sub-types
of this type of share then issued and in circulation.

Similarly, the net asset value of an unhedged share sub-type of a given type of share will at all times be equal to the

amount obtained by dividing the portion of net assets of this type of share then attributable to all the unhedged share subtypes
by the total number of unhedged share sub-types of this type of share then issued and in circulation.

Any share that is in the process of being redeemed pursuant to Art. 11 hereof shall be regarded as a share that has been

issued and is in existence until after the close of the Valuation Day applicable to the redemption of this share and, thereafter
and until such time as it is paid for, it shall be deemed a Company liability. Any shares to be issued by the Company, in

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accordance with subscription applications received, shall be treated as being issued with effect from the close of the
Valuation Day on which their issue price is determined, and this price shall be treated as an amount payable to the Company
until such time as it is received by the latter.

Effect shall be given on the Valuation Day to any purchase or sale of transferable securities entered into by the Company,

as far as possible.

The Company's net assets shall be equal to the sum of the net assets of all Sub-Funds, converted into EUR on the basis

of the latest known exchange rates.

In the absence of bad faith, gross negligence or manifest error, every decision in calculating the net asset value taken

by the board of directors or by any bank, company or other organization which the Board of Directors may appoint for the
purpose of calculating the net asset value, shall be final and binding on the Company and present, past or future shareholders.

If on a Valuation Day the consolidated issues and redemptions of all the categories of shares of a Sub-Fund result in an

increase or decrease of the Sub-Funds capital the Board of Directors may decide to adjust the net asset value. Such ad-
justment will have as a result an increase of the net asset value in case of an increase of capital and a decrease of the net
asset value in case of a decrease of capital

Art. 15. Allocation of assets and liabilities within sud-funds. The assets and liabilities of each Sub-Fund will be itemised

in the Company’s accounts. The proceeds of an issue of shares in a sub-fund will be allocated to the corresponding unit,
as will all assets, liabilities, income and expenditure relating to this sub-fund. Assets derived from other assets will be
allocated to the same unit as these other assets. All Company liabilities that can be assigned to a specific sub-fund will be
charged to the corresponding entry.

All share redemptions and dividend payments to shareholders of a Sub-Fund will be charged to the unit of this sub-

Fund.

Assets and liabilities that cannot be allocated to a specific sub-fund will be charged to the units of all Sub-Funds in

proportion to the net asset value of each Sub-Fund.

The assets of a specific Sub-Fund shall only be liable for the debts, liabilities and commitments of that Sub-Fund. Each

sub-fund is treated as a separate entity in relations between shareholders.

Art. 16. Suspension of the Calculation of the Net Asset Value. The Board of Directors may suspend the determination

of the net asset value of shares and/or the issue, redemption and conversion of shares, for one or more Sub-Funds, in the
following cases:

1. in the event of the closure, for periods other than normal holidays, of a stock exchange or other regulated market that

operates regularly, is recognised and open to the public and provides the listings for a significant portion of the assets of
one or more Sub-Funds are closed, or in the event that transactions on such markets are suspended, subject to restrictions
or impossible to execute in the required quantities;

2. where there is a breakdown in the methods of communication normally used to determine the value of investments

of the Company or the current value on any investment exchange or when, for any reason whatsoever, the value of invest-
ments cannot be promptly and accurately ascertained;

3. where exchange or capital transfer restrictions prevent the execution of transactions on behalf of one or more Sub-

Funds or where purchases and sales made on its behalf cannot be executed at normal exchange rates;

4. where factors relating inter alia to the political, economic, military or monetary situation, and which are beyond the

control, responsibility and operational ability of the Company, prevent it from disposing of its assets and determining their
Net Asset Value in a normal or reasonable way;

5. following any decision to dissolve one, several or all Sub-Funds of the Company;
6. where the market of a currency in which a significant portion of the assets of one or more Sub-Funds is expressed is

closed for periods other than normal holidays, or where trading on such a market is either suspended or subject to restrictions;

7. to establish exchange parities in the context of a contribution of assets, split or any restructuring operation, within or

by one or more Sub-Funds;

8. In case of a merger of a Sub-Funds with another Sub-Fund of the Company or another UCITS (or a Sub-Fund thereof),

provided such suspension is in the interest of the shareholders;

9. In case of a feeder Sub-Fund of the Company, if the net asset calculation of the master Sub-Fund or the master UCITS

is suspended.

In addition, in order to prevent market timing opportunities arising when a net asset value is calculated on the basis of

market prices which are no longer up to date, the board of directors is authorised to suspend temporarily issues, redemptions
and conversions of shares of one or several Sub-Fund(s) when the stock exchange(s) or market(s) that supplies/supply
prices for a significant part of the assets of one or several Sub-Fund(s) are closed.

In all the above cases, the requests received will be executed at the first Net Asset Value applicable upon the expiry of

the suspension period.

In exceptional circumstances that may adversely affect shareholders' interests, or in the event of significant issue, re-

demption or conversion requests or insufficient market liquidity, the board of directors reserves the right to set the net asset
value of shares in a Sub-Fund only after it has effected the necessary purchases and the sales of securities, financial

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instruments or other assets on a Sub-Fund's behalf. In this case, any subscriptions, redemptions and conversions simulta-
neously pending shall be executed on the basis of one single net asset value per class of shares within the relevant Sub-
Fund.

The suspension of the calculation of the net asset value, of the issue, redemption or of the conversion of shares, shall be

notified through all possible means and more specifically by a publication in the press, unless the board of directors is of
the opinion that a publication is not useful in view of the short period of the suspension.

Such a suspension decision shall be notified to any shareholders requesting subscription, redemption or conversion of

their shares.

The suspension measures provided for in this article may be limited to one or more Sub-Funds.
Subscriptions and redemption requests pending may be withdrawn with written notification, provided that the SICAV

receives this before the suspension is lifted.

Subscriptions and redemptions pending will be considered on the first valuation day after the suspension is lifted.

Chapter IV. - Administration and Management of the Company

Art. 17. Administration. The Company will be administered by a Board of Directors made up of at least three members,

who need not be shareholders of the Company.

Art. 18. Term of office, reappointment of the Board. The annual general meeting will appoint directors for a term of up

to six years; however, a director may be dismissed with or without cause and/or may be replaced if the shareholders so
decide. Directors shall be elected by the majority of the votes of the shares present or represented.

Should a seat on the board be vacated as a result of a director’s death, resignation or for any other reason, the remaining

directors may meet and undertake a majority vote for a director who will temporarily carry out the duties assigned to the
vacated seat until the next shareholders’ meeting.

Art. 19. Advisory Office. The Board of Directors may choose one of its members to act as chairman and may elect one

or more vice-chairmen. It may also appoint a secretary, who need not be a director, and who will be responsible for producing
minutes of any Board and shareholders’ meetings.

Art. 20. Board meetings and deliberations. The Board of Directors will meet at the place indicated on the notice to attend

when called by the chairman or two directors. The chairman of the Board of Directors will chair all general meetings of
shareholders and Board meetings but in his/her absence the general meeting or Board of Directors may undertake a majority
vote to appoint another director, or if no director is present any other person, to chair these meetings.

If necessary, the Board of Directors will appoint managers and authorised representatives of the Company, including a

managing director and any deputy managing directors, deputy secretaries or other managers and authorised representatives
whose role is deemed necessary for the Company to conduct its business. The Board of Directors may reverse these
appointments at any time. There shall be no requirement for managers and authorised representatives to be directors or
shareholders of the Company. Unless the articles of association stipulate otherwise, managers and authorised representatives
shall have the powers and responsibilities granted to them by the Board of Directors.

Written notice of all Board of Directors’ meetings shall be given to all directors at least three days in advance of the

scheduled time of the meeting, except in the event of an emergency, in which case the nature and the reason for this
emergency shall be mentioned in the notice to attend. This notice to attend may be disregarded if all the directors agree
thereto in writing or by wire, telegram, telex or fax. An exceptional notice to attend shall not be required for a meeting of
the Board of Directors that takes place at the time and place specified in a resolution previously adopted by the Board of
Directors.

Any director may take part in any Board of Directors’ meeting by appointing another director as a proxy, in writing or

by wire, telegram, telex or fax. A director may represent several of his colleagues.

Any director may attend a Board of Directors’ meeting by conference call or any other similar means of communication

where all those participating in the meeting can hear and be heard by the other persons attending the meeting. Participation
in a meeting via such means shall be tantamount to being present in person at the meeting.

The Company shall not be bound by a director’s lone signature unless this has been expressly authorised by way of a

resolution from the Board of Directors.

The Board of Directors may only validly deliberate and act if at least half of the directors are present or represented at

the meeting. Resolutions shall be passed by a majority of votes of the directors present or represented. If an equal number
of votes are cast for and against a decision at a board meeting, the chairman shall have the casting vote.

Resolutions signed by all Board members will be just as valid and enforceable as those taken during a meeting held after

being duly convened. These signatures may be placed on a single document or on several copies of the same resolution
and may be made by letter, wire, telegram, telex, fax or in writing.

Art. 21. Minutes. The minutes of the meetings of the Board of Directors shall be signed by the chairman or, in his/her

absence, by the chair of the meeting.

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Copies of or extracts from the minutes intended for use in court or elsewhere shall be signed by the chairman, or by the

secretary, or by two directors, or by any other person nominated by the Board of Directors.

Art. 22. Powers of the Board of Directors. The Board of Directors, applying the principle of risk spreading, shall

determine the general investment strategy and the investment policy, as well as the guidelines to be followed in the admi-
nistration of the Company.

The SICAV shall not invest more than 10% of its net assets in shares or units of UCITS or other investment funds unless

provisions state otherwise in the prospectus.

Art. 23. Company commitments to third parties. The Company shall be bound by the signature of two directors or of a

duly authorised representative or manager, or by the signature of any other person to whom the Board of Directors has
specifically granted such authority. Subject to the approval of the shareholders meeting, the Board may delegate the day-
to-day management of the Company’s business to one of its members.

Art. 24. Delegation of power. The Board of Directors may delegate its day-to-day management and order execution

powers to individuals or legal entities who need not be members of the Board of Directors, with a view to meeting the
corporate object and pursuing the general direction of its management. These individuals or legal entities may, if the Board
of Directors so authorizes, sub-delegate their powers.

Art. 25. Conflict of Interest. No contract or transaction that the Company may enter into with other companies or firms

shall be affected or invalidated because one or more directors, managers or authorised representatives of the Company have
any kind of interest in another company or firm or because they are directors, partners, managers, authorised representatives
or employees thereof. Any director, manager or authorised representative of the Company who is a director, manager,
authorised representative or employee of any company or firm with which the Company has concluded contracts, or with
which the Company has other business dealings, shall not be prevented from deliberating, voting or acting in connection
with such contracts or business matters.

In the event of a director, manager or authorised representative having a personal interest in any business of the Company

or is in a situation which leads or may lead to a conflict of interest entailing a material risk of damage to the interests of
the Company and/or its shareholders, this director, manager or authorised representative of the Company will have to inform
the Board of Directors of this personal interest and may not discuss or vote on the matter; a report on this matter and the
personal interest of said director, manager or authorised representative must be presented at the next shareholders’ meeting.

Chapter V. - General Meetings

Art. 26. General information. The duly convened general meeting of the Company’s shareholders represents all Company

shareholders. It has the broadest powers to order, carry out or ratify all action relating to the Company’s business.

Art. 27. Annual General Meeting. The annual general meeting of shareholders will be held in accordance with Luxem-

bourg law either at the Company’s registered office or at any other location in Luxembourg specified in the notice to attend,
on the third Wednesday of January at 15:00 CET, taking place for the first time in 1994. If this day is a bank holiday, the
annual general meeting shall be held on the next bank business day. The annual general meeting may be held abroad if the
Board of Directors considers that exceptional circumstances require it.

Other shareholders’ meetings may be held at the time and place specified in the notice of meeting.
Shareholders may contact the registered office to obtain the annual report containing all the financial information relating

to each of the company Sub-Funds, the composition of and changes in their assets and the consolidated situation of all the
Sub-Funds, as well as the management report intended to provide further information to shareholders, and the auditors’
report.

Majority voting rules apply at general meetings when deciding whether to approve financial statements and discharge

the directors of their duties.

Art. 28. Meeting procedures. Unless otherwise provided for in these articles of association, the quorums and deadlines

laid down by the law shall govern the notices to attend and the proceedings of the Company’s shareholders’ meetings.

If all shares are in registered form and if no publications are made, notices to shareholders may be mailed by registered

mail only.

If bearer shares are issued the notice of meeting shall in addition be published as provided by law in the "Mémorial C,

Recueil des Sociétés et Associations", in one or more Luxembourg newspapers, and in such other newspapers as the Board
of Directors may decide.

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.

Each share confers the right to one vote, regardless of the category to which it belongs, subject to the limits imposed by

these articles of association. Fractions of shares do not carry voting rights but are factored in to the allocation of net assets
and payment of dividends in proportion to the shares in a given category of a sub-fund.

Each shareholder may participate in the shareholders’ meetings by appointing another person as their proxy, in writing,

by wire, by telegram, by telex or by fax.

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U X E M B O U R G

Unless otherwise stipulated by law or by these articles of association, resolutions of the duly convened general meeting

of shareholders shall be adopted by a simple majority of the shareholders present and voting.

The Board of Directors may decide on any other conditions that shareholders must meet to take part in shareholders’

meetings.

Meetings of the shareholders of a particular Sub-Fund may also be held. Decisions relating to a given Sub-Fund shall

be taken, insofar as the law or these articles of association do not stipulate otherwise, by simple majority vote of the
shareholders of the Sub-Fund present and voting.

In addition, the shareholders of any shares class may hold, at any time, general meetings for any matters which are

specific to such shares class. Unless otherwise provided for by law or herein, the resolutions of the general meeting of
shareholders of a shares class are passed by a simple majority vote of the shareholders present or represented.

Art. 29. Notice to attend the General Meeting. The shareholders shall meet when convened by the Board of Directors.
The shareholders meeting shall also be called upon the request of shareholders representing at least one tenth of the

share capital.

The notice to attend the General Meeting will be published in accordance with procedures set in law and in these articles

of association.

Chapter VI. - Dissolution; Withdrawal, Merger, Subscription; Liquidation

Art. 30. Dissolution; Withdrawal, Merger, Subscription. The Board of Directors may ask an extraordinary general

meeting to wind up and liquidate the Company at any time and for any reason.

The Company will stop issuing new shares and buying back shares from shareholders who had asked it to do so on the

publication date of the general meeting at which a proposal is made to wind up and liquidate the Company.

The Board of Directors is entitled to ask a sub-fund’s shareholders meeting to wind up this sub-fund, retaining the option

of offering shareholders of this Sub-Fund the opportunity to convert their shares into another Sub-Fund on terms and within
a time frame determined by the Board. The relevant decision will be published in the same way as financial notices. Amounts
not claimed by shareholders when the dissolution of this Sub-Fund is complete will be deposited with the Caisse de
Consignation in Luxembourg.

Apart from the conversion right mentioned above, all subscription, redemption and conversion requests will be sus-

pended as soon as the decision to wind up the Sub-Fund has been announced.

Following a decision reached by a majority of its members, or at least one third of a Sub-Fund’s shareholders following

a request sent to the Board of Directors, which will promptly convene a general meeting for the shareholders of this Sub-
Fund if the total net asset value of a sub-fund or class of a sub-fund has decreased to, or has not reached, an amount
determined by the Board of Directors to be the minimum level needed for such a Sub-Fund or class to operate in an
economically efficient manner, or in the event of a substantial change in the political, economic or monetary situation, or
within the framework of an economic restructuring, The Board of Directors may:

1. reduce the Company’s share capital by withdrawing all shares issued in a Sub-Fund and repaying shareholders the

net asset value of their shares (taking into account the current sale value of investments and costs relating to this withdrawal),
calculated on the valuation day on which such a decision will become effective, and/or;

2. pay shares issued in a Sub-Fund into, or allocate shares to be issued to, another undertaking for collective investment

under the provisions of Council Directive 2009/65/EC, as amended, or to another of the Company’s Sub-Funds, provided
that the Board of Directors or general meeting of shareholders of the other company or Sub-Fund approves this, and/or:

3. merge one or more Sub-Funds of the Company together or with one or more other undertakings for collective in-

vestment, provided that:

a. for a period in accordance with applicable laws and regulation shareholders of the sub-funds concerned may ask to

redeem their shares at the applicable net asset value per share, applying the procedures described in article 12 of the articles
of association, without incurring any redemption or conversion costs. Shareholders who have not requested the redemption
of their Shares will be legally transferred to the new Sub-Fund.

b. the assets of the Sub-Funds whose shares will be withdrawn shall be allocated to the portfolio of the other company

or Sub-Fund at the end of the period mentioned above under point a), provided that this allocation does not contravene the
investment policy of this other company or Sub-Fund.

Shares not redeemed or converted will be exchanged on the basis of the net asset value per share of the Sub-Fund or

category concerned on the valuation date on which the decision takes effect.

In the event of a general meeting of shareholders of the Sub-Funds concerned, no quorum shall be required and reso-

lutions may be passed on a simple majority of votes cast on shares present or represented at these meetings.

In the event of shares being withdrawn from a given share category, the net asset value of liquidated Sub-Funds shall

be paid out to eligible parties in proportion to the shares held in the Sub-Funds concerned. Assets that have not been paid
out on the liquidation completion date will be deposited with the Caisse de Dépôts et de Consignation for as long as required
by law.

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U X E M B O U R G

In these three cases, holders of shares in Sub-Funds subject to the proposed withdrawal will be notified of the decisions

taken at general meetings of shareholders one month before the decisions are executed, with registered shareholders re-
ceiving written notice and, where appropriate, announcements being published in the the newspapers of the Board of
Directors’ choice.

If the decision to withdraw a Sub-Fund is taken at a general meeting, this general meeting shall be validly convened and

deemed representative of the shareholders of this Sub-Fund with votes passed on a simple majority of voting shareholders
present or represented.

A merger that has a result that the Company ceases to exist needs to be decided at a general meeting of shareholders.

There shall be no quorum requirements for such general meeting of shareholders which shall decide by resolution taken
by simple majority of those present or represented and voting at such meeting.

Art. 31. Liquidation. The Company may at any time be dissolved by a resolution of the general meeting of shareholders

subject to the quorum and majority requirements referred to in Article 32 hereof.

Whenever the share capital would fall below two-thirds of the minimum capital indicated in Article 5 hereof, the question

of the dissolution of the Company should be referred to the general meeting by the Board of Directors. The general meeting,
for which no quorum shall be required, shall decide by simple majority of the votes of the shares represented at the meeting.

The question of the dissolution of the Company shall further be referred to the general meeting whenever the share

capital falls below one-fourth of the minimum capital set by Article 5 hereof; in such an event, the general meeting shall
be held without any quorum requirements and the dissolution may be decided by shareholders holding one-fourth of the
votes of the shares represented at the meeting.

The meeting must be convened so that it is held within a period of forty days from ascertainment that the net assets of

the Company have fallen below two-thirds or one-fourth of the legal minimum, as the case may be.

The liquidation shall be carried out by one or more liquidators, who may be natural persons or legal entities and who

shall be appointed by the general meeting of shareholders, which will determine their powers and compensation.

The net proceeds of the liquidation of each sub-fund will be paid out to shareholders in proportion to the number of

shares that they hold in this sub-fund. Amounts not claimed by the shareholders when the liquidation is complete will be
deposited with the Caisse de Consignation in Luxembourg.

Art. 32. Restructuring. The general meeting of shareholders will decide whether to restructure the Company or one or

more sub-funds. If this decision relates to a sub-fund of the Company, the general meeting of the shareholders of the sub-
fund concerned is authorised to decide on its restructuring.

Chapter VII. - Auditors

Art. 33. Approved independent auditor. The Company shall have the accounting data contained in the annual report

inspected by an auditor. The auditor's report issued subsequent to this inspection shall at least testify that this accounting
data provides a true and accurate reflection of the state of the Company's assets and liabilities. The auditor shall be appointed
and replaced by the shareholders' general meeting, which shall fix his remuneration. The auditor shall fulfil all duties
prescribed by law.

Chapter VIII. - Annual Accounts

Art. 34. Financial year. The Company’s financial year begins on 1 October and ends on 30 September, except in the

case of the first financial year, which starts on the incorporation date and ends on 30 September 1993.

The Company shall publish an annual report and a half-yearly report in accordance with the legislation in force. These

reports shall include financial information relative to each of the Company's Sub-Funds, the composition and progress of
their assets, and the consolidated situation of all Sub-Funds.

Art. 35. Distributions. The general meeting of shareholders of the class or classes issued in respect of any Sub-Fund

shall, upon proposal from the Board of Directors and within the limits provided by law, determine how the results of such
Sub-Fund shall be disposed of, and may from time to time declare, or authorise the Board of Directors to declare, distri-
butions of dividends.

For any class of shares entitled to distributions, the Board of Directors may decide to pay interim dividends in compliance

with the conditions set forth by law.

Payments of distributions to holders of registered shares shall be made to such shareholders at their addresses in the

register of shareholders. Payments of distributions to holders of immobilised bearer shares shall be made to the bearer
shares depositary for the benefit of the shareholder as further specified in the sales documents of the Company.

Distributions may be paid in such currency and at such time and place that the Board of Directors shall determine.
The Board of Directors may decide to distribute stock dividends instead of cash dividends upon such terms and conditions

as may be set forth by the Board of Directors.

Any distribution that has not been claimed within five years of its declaration shall be forfeited and revert to the share

class or shares classes issued in respect of the relevant Sub-Fund.

No interest shall be paid on a dividend declared by the Company and kept by it at the disposal of its beneficiary.

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Chapter IX. - General provisions

Art. 36. Amendments to the Articles of Association. These articles of association may be amended as and when a general

meeting of shareholders, subject to the quorum and voting requirements of Luxembourg law, decides.

Art. 37. Applicable law. For any matters not covered in these articles of association, the parties concerned shall refer to

the provisions of the law of 10 August 1915 on commercial companies, as amended, and the law of 17 December 2010 on
undertakings for collective investment.

The above-named persons declare that the expenses, costs, fees and charges of any kind whatsoever which fall to be

paid by the Company as a result of this deed, amount to approximately EUR 2,500.- and shall be borne by the Company.

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

parties, the present deed is worded in English.

WHEREOF, the present notarial deed was drawn up in Luxembourg on the day named at the beginning of this document.
The document having been read to the members of the bureau of the meeting, known to the notary by their surnames,

Christian names, civil status and residences, the said persons signed together with the notary the present deed.

Signé: D. ARENA, L. GERARD, M. THIRY et C. WERSANDT.
Enregistré à Luxembourg A.C.1, le 13 août 2015. Relation: 1LAC/2015/25987. Reçu soixante-quinze euros (75.- EUR).

Le Receveur (signé): P. MOLLING.

- POUR EXPEDITION CONFORME - délivrée à la société sur demande.

Luxembourg, le 26 août 2015.

Référence de publication: 2015144898/732.
(150158060) Déposé au registre de commerce et des sociétés de Luxembourg, le 26 août 2015.

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

Capital social: EUR 12.600,00.

Siège social: L-1511 Luxembourg, 121, avenue de la Faïencerie.

R.C.S. Luxembourg B 134.365.

Dépôt rectificatif

Il est à noter que le dépôt L150152757 en date du 17/08/2015 était incomplet dans la mesure où le projet de scission de

la Société ne contenait pas l’annexe précisant notamment l’affectation de l’actif et le passif de la Société entre les Nouvelles
Sociétés (l’ «Annexe»).

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

Luxembourg, le 10 septembre 2015.

Pour la Société
Un mandataire

DIVISION PROPOSAL

THE UNDERSIGNED:
Colony Luxembourg S.à r.l., a private limited liability company (société à responsabilité limitée) governed by the laws

of the Grand Duchy of Luxembourg, having its registered office at 121, Avenue de la Faiencerie, L-1511 Luxembourg,
Grand Duchy of Luxembourg, having a share capital of EUR 12,500 and registered with the Luxembourg Trade and
Companies Register under number B 88.540, sole manager (gérant unique) (the “Sole Manager”) of Colday S.à r.l., a private
limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg,
having its registered office at 121, Avenue de la Faiencerie, L-1511 Luxembourg, Grand Duchy of Luxembourg, having
a share capital of EUR 12,600 and registered with the Luxembourg Trade and Companies Register under number B 134.365
(the “Company”), has established the following division proposal (the “Division Proposal”) pursuant to Article 307 of the
law of 10 August 1915 on commercial companies, as amended (the “Law”):

Preamble

The Sole Manager proposes to implement the division of the Company by the incorporation of three (3) new companies

(the “New Companies” and each a “New Company”), whereby the Company shall transfer, following its dissolution without
liquidation, all of its assets and liabilities to the New Companies in the proportions set forth in section 3 below, in accordance
with the provision of Article 307 of the Law (the “Division”).

In exchange for the transfer to the New Companies of all the assets and liabilities of the Company, the shareholders of

the Company shall receive shares in the New Companies in proportion to their respective current shareholding in the
Company.

As a result of the Division:

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- all of the assets and liabilities of the Company shall be divided and transferred, following its dissolution without

liquidation, to the New Companies in the proportions set forth in section 3 below;

- the Company, by virtue of law, will cease to exist;
- all of the shares in the issued and paid up share capital of the Company will, by virtue of law, be cancelled.
The Division is subject to the approval by the general meeting of shareholders of the Company, in conformity with

Article 291 of the Law and shall be effective as of the date of such meeting (the “Effective Date”). However, the Division
shall be effective towards third parties as from the date of publication of such meeting in the Mémorial C, Recueil des
Sociétés et Associations.

The Division Proposal will be published in the Mémorial C, Recueil des Sociétés et Associations at least one month

before the Effective Date.

1. Form, corporate denomination, share capital and registered office of the Company. The Company is a private limited

liability company (société à responsabilité limitée) existing under the corporate denomination of Colday S.à r.l.

The share capital of the Company amounts to twelve thousand six hundred Euros (EUR 12,600) represented by twelve

thousand six hundred (12,600) shares having a nominal value of one Euro (EUR 1) each, all fully subscribed and entirely
paid up. The share capital of the Company is held as follows:

Shareholders

Number

of shares

C-VIII Day Investor, L.L.C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6,930

Cz2 Day S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5,670

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12,600

The registered office of the Company is established at 121, Avenue de la Faiencerie, L-1511 Luxembourg.

2. Form, corporate denomination and registered office of the New Companies. Each New Company will be incorporated

under the corporate form of a private limited liability company (société à responsabilité limitée) and under the corporate
denomination of respectively Colday A S.à r.l., Colday C S.à r.l. and Colday E S.à r.l.

The registered office of the New Companies will be established at 121, Avenue de la Faiencerie, L-1511 Luxembourg.

3. Share exchange ratio. In exchange for the transfer to the New Companies of all the assets and liabilities of the Company,

each New Company shall issue shares to the existing shareholders of the Company, in proportion to their respective current
shareholding in the Company.

The valuation of the assets and liabilities of the Company has been determined based on their fair market value as of 30

June 2015, resulting in a total agreed net assets contribution value of EUR 61,856 and a balance sheet contribution value
of EUR 1,181,718,115, allocated between the New Companies as indicated in the table below:

New Companies

Allocated

net assets

contribution

value

Allocated balance
sheet contribution

value

Colday A S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 22,982

EUR 437,123,822

Colday C S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 13,669

EUR 262,591,043

Colday E S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 25,205

EUR 482,003,250

TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR 61,856 EUR 1,181,718,115

The existing shareholders of the Company shall receive the following shares in each New Company:

New Companies

C-VIII Day Investor, L.L.C Cz2 Day S.à r.l. TOTAL

Colday A S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6,875

5,625

12,500

Colday C S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6,875

5,625

12,500

Colday E S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6,875

5,625

12,500

The difference (if any) between the value of the assets and liabilities contributed to each of the New Companies as a

result of the Division and the nominal value of the shares issued by the relevant New Company shall be allocated to a share
premium account of the relevant New Company.

Changes in the value and composition of the assets and liabilities of the Company between the date of this Division

Proposal and the Effective Date shall have no influence on the share exchange ratio and the agreed contribution value set
by this Division Proposal, provided that there should be no dividend distribution, no redemption of shares and no capital
reduction or increase decided by the Company during such period.

For the avoidance of doubt, there will be no payment in cash (soulte).
The shares of the Company shall be cancelled and the Company shall be dissolved without liquidation as a result of the

Division.

4. Terms for the delivery of shares in the New Companies. The shares issued by the New Companies on the Effective

Date shall be registered in the respective share register of each of the New Companies.

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U X E M B O U R G

5. Date from which the shares in the New Companies shall carry the right to participate in the profits and any special

conditions relating to that right. The shares in the New Companies to be issued pursuant to the Division shall participate
in the profits of the respective New Company as of the Effective Date.

6. Date from which the operations of the Company shall be treated for accounting purposes as being carried out on

behalf of the New Companies. For accounting purposes, the operations of the Company shall be treated as being carried
out on behalf of the New Companies as of 30 June 2015.

7. Rights conferred by the New Companies to shareholders having special rights and to holders of securities other than

shares, or the measures proposed concerning them. The Company has no shareholders having special rights.

The Company has issued tracking preferred equity certificates (the “TPECs”). The rights of their holders (being the

existing shareholders of the Company) will not be affected by the Division as the New Companies will take over all the
TPECs from the Company so that no special rights will be granted to them.

8. Special advantages granted to the experts referred to in Article 294 of the Law, the members of the board of managers

and to the supervisory auditors of the Company. Given that the New Companies shall issue shares to the existing share-
holders of the Company in proportion to their respective current shareholding in the Company, the provisions of Article
294 are not applicable to the Division and therefore, no experts have been appointed by the Company.

No supervisory auditor has been appointed by the Company.
No special advantages will be granted to the Sole Manager.

9. Description and allocation of the assets and liabilities to be transferred to the New Companies. The assets and liabilities

to be transferred to the New Companies are stated in the interim accounts of the Company as of 30 June 2015 as attached
to this division proposal as Schedule A and shall be allocated between the New Companies as mentioned therein.

Where an asset of the Company is not assigned to any of the New Companies and where the interpretation of this Division

Proposal does not make a decision on its assignment possible, the asset or the amount corresponding to the value thereof
shall be assigned to all the New Companies in proportion to the assets contributed and assigned to each of them in this
Division Proposal.

Where a liability of the Company is not assigned to any of the New Companies and where the interpretation of this

Division Proposal does not make a decision on its assignment possible, each of the New Companies shall be jointly and
severally liable therefor.

The joint and several liability of the New Companies shall however be limited to the net assets assigned to each of them

in this Division Proposal.

10. Allocation amongst the shareholders of the Company of shares in the New Company and criterion upon which such

allocation is based. The New Companies shall issue shares to the existing shareholders of the Company, in proportion to
their respective current shareholding in the Company.

11. Draft articles of association of the New Companies.

A. ColDay C S.à r.l.

1. Name. These are the articles of association (the “Articles”) of a private limited liability company (société à respon-

sabilité limitée) whose name is "Colday A S.à r.l." (hereafter the “Company”).

2. Corporate object. The purpose of the Company is (i) the acquisition, holding and disposal, in any form, by any means,

whether directly or indirectly, of participations, rights and interests (in whatsoever form or other) in Luxembourg and
foreign companies, (ii) the acquisition by purchase, subscription, or in any other manner, as well as the transfer by sale,
exchange or in any other manner of stock, shares, bonds, debentures, notes and other securities or financial or debt instru-
ments of any kind and (iii) the ownership, development, management and disposal of a portfolio of any assets (including,
apart from the assets referred to in (i) and (ii) above, patents or other intellectual property rights of any nature or origin).

The Company may borrow in any form, except by way of public offer. It may enter into any type of loan agreement and

it may issue, by way of private placement only, notes, bonds and any kind of debt and equity securities. It may lend funds
(with or without security) including, without limitation, the proceeds of any borrowings and/or issues of securities, to its
subsidiaries, affiliated companies and any other companies. The Company may also give guarantees and pledge, transfer,
encumber or otherwise create and grant security over all or some of its assets to guarantee its own obligations and those of
any other company, and, generally, for its own benefit and that of any other company or person. For the avoidance of doubt,
the Company may not carry out any regulated activities of the financial sector without having obtained the required au-
thorisation.

The Company may enter into, execute and deliver and perform any swaps, futures, forwards, derivatives, options,

repurchase, stock lending and similar transactions. The Company may generally use any techniques and instruments relating
to investments for the purpose of their efficient management, including, but not limited to, techniques and instruments
designed to protect it against credit, currency exchange, interest rate risks and other risks.

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U X E M B O U R G

The descriptions above are to be construed broadly and their enumeration is not limiting. The Company's purpose shall

include any transaction or agreement which is entered into by the Company, provided it is not inconsistent with the foregoing
matters.

In general, the Company may take any controlling and supervisory measures and carry out any operation or transaction

which it considers necessary or useful in the accomplishment and development of its purpose.

The Company may carry out any commercial, industrial, and financial operations, which are directly or indirectly

connected with its purpose or which may favour its development. In addition, the Company may acquire and sell real estate
properties, for its own account, either in the Grand Duchy of Luxembourg or abroad and it may carry out all operations
relating to real estate properties.

3. Duration. The Company is established for an unlimited period.

4. Registered office. The registered office is established in the municipality of Luxembourg.
It may be transferred to any other place in the Grand Duchy of Luxembourg by means of a resolution of an extraordinary

general meeting of its shareholders. It may be transferred within the boundaries of the municipality by a resolution of the
manager/board of managers of the Company. The Company may have offices and branches, both in the Grand Duchy of
Luxembourg and abroad.

5. Share capital. The Company's share capital is set at EUR 12,500 (twelve thousand five hundred euros), represented

by 12,500 (twelve thousand five hundred) shares having a nominal value of EUR 1 (one euro) each.

The Company may establish a share premium account (the "Share Premium Account") into which any premium paid

on any Share is to be transferred. Decisions as to the use of the Share Premium Account are to be taken by the manager(s)
subject to the Luxembourg law dated 10 August 1915 on commercial companies, as amended (the "Companies Act") and
these Articles.

6. Amendments to the share capital. The share capital may be increased or reduced at any time by a decision of the sole

shareholder or of the general meeting of the shareholders, in accordance with article 15 of these Articles.

7. Profit sharing. Each share entitles to dividend distributions in direct proportion to the number of shares in existence.

8. Indivisible shares. Towards the Company, the Company's shares are indivisible, and only one owner is admitted per

share. Joint co-owners have to appoint a sole person as their representative towards the Company.

9. Transfer of shares. In case of a sole shareholder, the Company's shares held by the sole shareholder are freely trans-

ferable.

In case of plurality of shareholders, the transfer of shares inter vivos to third parties must be authorised by the general

meeting of the shareholders who represent at least three-quarters of the paid-in capital of the Company. No such authori-
sation is required for a transfer of shares among shareholders.

The transfer of shares mortis causa to third parties must be accepted by the shareholders who represent three-quarters

of the rights belonging to the surviving shareholders.

The requirements of articles 189 and 190 of the Companies Act apply to the Company.

10. Redemption of shares. The Company shall have power to acquire shares in its own capital provided that the Company

has sufficient distributable réserves and profits to that effect.

The acquisition and disposal by the Company of shares held by it in its own share capital shall take place by virtue of

a resolution of and on the terms and conditions to be decided upon by the sole shareholder or the general meeting of the
shareholders. The quorum and majority requirements applicable for amendments to these Articles shall apply in accordance
with article 15 of these Articles.

11. Death, Suspension of civil rights, Insolvency or bankruptcy of the shareholders. The death, suspension of civil rights,

insolvency or bankruptcy of the sole shareholder or of one of the shareholders will not terminate the Company.

12. Management. The Company is managed by one or more managers. If several managers have been appointed, they

will constitute a board of managers. The manager(s) need not to be shareholders. The manager(s) are appointed, revoked
and replaced by a decision of the general meeting of the shareholders, adopted by shareholders owning more than half of
the share capital.

The board of managers shall appoint a chairman from among its members. The chairman will chair all meetings of the

board of managers. In his/her absence, the other members of the board of managers may appoint a chairman pro tempore
who will chair the relevant meeting by simple majority vote of the managers present or represented at such meeting. In the
case of a tied vote, the chairman or the chairman pro tempore, as the case may be, shall have a casting vote.

In dealing with third parties, the sole manager, or in case of plurality of managers, the board of managers will have all

powers to act in the name and on behalf of the Company in all circumstances and to carry out and approve all acts and
operations consistent with the Company's objects.

All powers not expressly reserved by the law or the present Articles to the general meeting of shareholders fall within

the power of the sole manager, or in case of plurality of managers, of the board of managers.

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The Company shall be bound by the sole signature of its sole manager, and, in case of plurality of managers, by the joint

signature of any two (2) managers.

The manager, or in case of plurality of managers, the board of managers may delegate their powers for specific tasks

(including the delegation of the performance of specific day-to-day management powers pertaining to transactions effec-
tuated in the normal course of business) to one or several ad hoc agents. The manager, or in case of plurality of managers,
the board of managers will determine each agent's responsibilities and remuneration (if any), the duration of the period of
representation and any other relevant conditions of his/her/its agency.

In case of plurality of managers, the resolutions of the board of managers shall be adopted by the majority of the managers

present or represented. The board of managers may deliberate or act validly only if at least the majority of its members is
present or represented at a meeting of the board of managers.

In case of plurality of managers, written notice of any meeting of the board of managers will be given to all managers,

in writing or by telefax or electronic mail (e-mail), at least 24 (twenty-four) hours in advance of the hour set for such
meeting, except in circumstances of emergency. A meeting of the board of managers may be convened by any manager.
This notice may be waived if all the managers are present or represented, and if they state that they have been informed on
the agenda of the meeting. Separate notice shall not be required for individual meetings held at times and places prescribed
in a schedule previously adopted by a resolution of the board of managers.

A manager may act at a meeting of the board of managers by appointing in writing or by telefax or electronic mail (e-

mail) another manager as his/her/its proxy. A manager may also participate in a meeting of the board of managers by
conference call, videoconference or by other similar means of communication allowing all the managers taking part in the
meeting to be identified and to deliberate. The participation by a manager in a meeting by conference call, videoconference
or by other similar means of communication mentioned above shall be deemed to be a participation in person at such
meeting and the meeting shall be deemed to be held at the registered office of the Company. The decisions of the board of
managers will be recorded in minutes to be held at the registered office of the Company and to be signed by the managers
attending, or by the chairman of the board of managers or the chairman pro tempore, as the case may be. Proxies, if any,
will remain attached to the minutes of the relevant meeting.

Notwithstanding the foregoing, resolutions of the board of managers may also be passed in writing in which case such

circular resolutions shall consist of one or several documents containing the resolutions and signed by each and every
manager. The date of such circular resolutions shall be the date of the last signature. Such circular resolutions are deemed
to be taken in Luxembourg.

13. Liability of the manager(s). The manager or the managers (as the case may be) assume, by reason of their position,

no personal liability in relation to any commitment validly made by them in the name of the Company.

14. General meetings of the shareholders. An annual general meeting of the shareholder(s) shall be held at the registered

office of the Company, or at such other place in the municipality of its registered office as may be specified in the notice
of meeting.

Other general meetings of the shareholder(s) may be held at such place and time as may be specified in the respective

notices of meeting.

The shareholder(s) of the Company shall be convened by written notice, including the agenda of the meeting, to all

general meetings of the shareholder(s). Written meeting notices shall be sent by registered mail to all the shareholders at
least eight days in advance of the general meetings of the shareholder(s)..

If all the shareholders of the Company are present or represented at a general meetings of the shareholder(s), and consider

themselves as being duly convened and informed of the agenda of the general meeting of the shareholder(s), the general
meeting of the shareholder(s) may be held without prior notice.

As long as the Company has no more than twenty-five (25) shareholders, resolutions of shareholder(s) can, instead of

being passed at general meetings, be passed in writing by all the shareholders. In this case, each shareholder shall be sent
an explicit draft of the resolution(s) to be passed, and shall vote in writing (such vote to be evidenced by letter or telefax
or electronic mail (e-mail) transmission).

15. Shareholders' voting rights, Quorum and majority. The sole shareholder assumes all powers conferred to the general

meeting of the shareholders.

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

of shares, which he/she/it owns. Each shareholder has voting rights commensurate with his/her/its shareholding.

Collective decisions are only validly taken insofar as they are adopted by shareholders owning more than half of the

share capital. If that figure is not reached at the first meeting or first written consultation, the shareholders shall be convened
or consulted a second time, by registered letter, and decisions shall be adopted by a majority of the votes cast, regardless
of the portion of capital represented.

However, resolutions to alter the Articlesof the Company may only be adopted by the majority in number of the sha-

reholders owning at least three quarters of the Company's share capital and the nationality of the Company can only be
changed by unanimous vote, subject to the provisions of the Companies Act.

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U X E M B O U R G

16. Financial year. The Company's financial year starts on 1

of January and ends on 31

of December of each year,

provided that, as a transitional provision, the first financial year of the Company starts on the date of its incorporation and
ends on 31

December 2015.

17. Financial statements. The sole manager or the board of managers, as the case may be, shall draw up the annual

accounts of the Company that shall be submitted to the approval of the general meeting of the shareholder(s).

18. Appropriation of profits, Réserves. From the annual net profits of the Company (if any), 5% (five per cent.) shall

be allocated to the reserve required by law. This allocation shall cease to be required as soon as such legal reserve amounts
to 10% (ten per cent.) of the share capital of the Company, but shall again be compulsory if the legal reserve falls below
10% (ten per cent.) of the share capital of the Company.

The annual general meeting of shareholders shall decide on the allocation of the annual results and the declaration and

payments of dividends, as the case may be, in accordance with this article.

The shareholder(s) or the manager, or in case of plurality of managers, the board of managers may, subject to applicable

law, decide to pay interim dividends out of the profits and réserves available for distribution, including share premium.

19. Liquidation. At the time of winding up of the company the liquidation will be carried out by one or several liquidators,

shareholders or not, appointed by the shareholders who shall determine their powers and remuneration.

Under the liquidation of the Company, the surplus assets of the Company available for distribution among shareholders

shall be distributed to the shareholders, by way of advance payments or after payment (or provisions, as the case may be)
of the Company's liabilities.

20. Statutory auditor - External auditor. In accordance with article 200 of the Companies Act, the Company needs only

to be audited by a statutory auditor if it has more than 25 (twenty-five) shareholders. An external auditor needs to be
appointed whenever the exemption provided by article 69 (2) of the Luxembourg act dated 19 December 2002 on the trade
and companies register and on the accounting and financial accounts of companies does not apply.

21. Référence to legal provisions. Référence is made to the provisions of the Companies Act for all matters for which

no specific provision is made in these Articles.

B. ColDay C S.à r.l.

1. Name. These are the articles of association (the “Articles”) of a private limited liability company (société à respon-

sabilité limitée) whose name is "Colday C S.à r.l." (hereafter the “Company”).