GLOBAL PAY WORLD AG

Acquisition, financing, holding and disposal of participations in companies both domestically and abroad as well as management, consulting and related services within the framework of a conglomerate holding; provision of services and coordination tasks, in particular for subsidiary companies, taking out loans and financing of subsidiary companies as well as administration of securities of all kinds. The company may establish branches both domestically and abroad, invest in other companies, acquire, manage and dispose of real estate abroad, take over representations as well as enter into all transactions and conclude contracts that may be suitable to promote the purpose of the company or that are directly or indirectly related thereto.