acquisition, purchase, sale, administration and management of participations in all companies in Switzerland and abroad, specifying that the company may hold a participation in a real estate company in Switzerland if (i) the shares of the latter are listed on a stock exchange in Switzerland or if (ii) the real estate company has the purpose of acquiring buildings for exclusively commercial use. The company may also carry out, either on its own account or on behalf of third parties, all financial, commercial, industrial, movable and immovable transactions in Switzerland and abroad, directly or indirectly related to the main purpose. It may also participate in other companies and establish branches and subsidiaries in Switzerland and abroad. It may grant loans to its shareholders or third parties, guarantee loans subscribed by its directors or third parties, secure these loans by issuing or pledging mortgage securities, or by subscribing to any other financial commitment, pledge its assets to secure any claim. The company may also carry out all operations that are directly or indirectly related to its corporate purpose and that promote or facilitate its development.