PHB Holding SA

The acquisition and disposal of participations in all financial, industrial, commercial or other companies, as well as the management and administration of these participations. The company may, either on its own account or on behalf of third parties, carry out all operations directly or indirectly related to its purpose, establish branches or subsidiaries in Switzerland and abroad, participate in all companies in Switzerland or abroad having a direct or indirect connection with its purpose, and grant loans or guarantees to associates or third parties if it serves its interests.