to carry out in Switzerland and abroad all financial operations, mainly those related to the purchase, sale and management of securities and real estate; the administration of participations in other companies, as well as all other operations in direct or indirect relation with the company's purpose, either on its own account, in participation, or on behalf of third parties. The company may also hold participations in companies of all kinds in Switzerland and abroad, establish such companies, acquire or merge with them. It may acquire, manage, encumber and dispose of real estate or intellectual property rights in Switzerland and abroad. The company may establish branches or agencies in Switzerland and abroad by decision of the board of directors. The company may engage in any commercial or financial activity related to its purpose. Furthermore, it may grant loans or other financing to its direct or indirect shareholders as well as to all other companies of the group and may provide guarantees of any kind for the obligations of said companies and shareholders, notably by way of pledges, assignments or transfers of assets for security purposes or other guarantees of any kind, for consideration or not.