WALID SA

The purchase and sale of all types of works of art and luxury and collector's items; the company may also carry out, on its own account or on behalf of third parties, all commercial, movable and financial transactions, in direct or indirect relation to its purpose, in any form whatsoever, in particular in the form of participations; the company may open branches in Switzerland and abroad, found or acquire any company pursuing an analogous or complementary purpose; the company may grant loans or guarantees to its shareholders or to third parties.