YAC GROUP SA

Management of real estate and any commercial activity in the field of distribution; the company may carry out any financial, commercial, movable or immovable operation related to its purpose or likely to promote it; it may also create branches in Switzerland and abroad, take participations, found or finance companies having a direct or indirect connection with its purpose; it may, with or without remuneration, grant loans to its shareholders or third parties, or provide guarantees of all kinds to cover the commitments of its shareholders or third parties.