San Bao SA

all activities involving the acquisition of direct and indirect participations in any companies or enterprises in the sense of a holding company; the company may, either on its own account or on behalf of third parties, carry out all commercial, securities and financial transactions, directly or indirectly related to its purpose, in any form, including in the form of participations; the company may open branches in Switzerland and abroad, establish or acquire any enterprise pursuing a similar or complementary purpose; the company may grant loans or guarantees to its shareholders or to third parties.