A FRANGU & FILS SA

any general building trade business activity; purchase, sale, rental, management, brokerage, promotion of all real estate, as well as all advice and services in the field of real estate, excluding all operations prohibited by the LFAIE; the company may, either on its own account or on behalf of third parties, carry out all financial, commercial, industrial, movable and immovable transactions in Switzerland and abroad, directly or indirectly related to the main purpose, create branches and subsidiaries in Switzerland and abroad, participate in all companies having a direct or indirect relationship with its purpose, grant loans or guarantees to subsidiaries, shareholders or third parties.