FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

• granting any security interest (‘‘sûreté réelle’’) or guarantee (‘‘sûreté personnelle’’) or entering into
any agreement whose effect or object is to guarantee the performance of the obligations (such as
the mortgages, liens, pledges, assignment of receivables) and in particular granting such security
interest or guarantee (or entering into such acts) in order to guarantee the performance by a third
party of its obligations;
– and generally all transactions (whether financial, commercial, industrial, non-commercial, real estate
or other) directly or indirectly attached to the above-mentioned object or any similar or related
objects and pursuing, in any case, the achievement of such transactions.
PPMPP has not engaged, since its incorporation, in any activities other than those described in its
corporate purpose and those incidental thereto and registration as a private limited company under the
laws of France, the authorisation of the documents and matters referred to or contemplated in this
document to which it is or will be a party (including but not limited to the Commercial Mortgage Loan
Agreement and the granting of security for repayment of the Commercial Mortgage Loan Agreement)
and matters which are incidental or ancillary to the foregoing. Other than as described in the foregoing
sentence, PPMPP has not, since its incorporation, engaged in any activities.
Manager (‘‘Gérant’’)
The manager of PPMPP and its business address and other principal activities are:
Name Business Address Other Principal Activities
Mr. Jean-Pierre Raynal
36 avenue Hoche
Manager of PPMPP
75008 Paris
PPMPP has no employees.
Capitalisation and Indebtedness Statement
It is estimated that the capitalisation of PPMPP on or about the Closing Date will be as follows:
Share Capital:
Authorised and issued:
3,007,500 ordinary shares of u1 each, 3,007,499 of which are fully paid up and are held by SARL Paris
Properties and 1 of which is fully paid up and is held by SAS SPCR.
Loan Capital:
Commercial Mortgage Loan Agreement (to be advanced on or about the Closing Date)
u75,887,000
Save for the foregoing, at the date of this document, PPMPP has no borrowings or indebtedness in the
nature of borrowings (including loan capital issued, or created but unissued), term loans, liabilities under
acceptances or acceptance credits, mortgages, charges or guarantees or other contingent liabilities.
Auditors’ Report
The following is the text of a report dated 14 June 2005 received by the manager of PPMPP from Mazars
& Guerard, the registered auditors to PPMPP. The financial information contained therein comprises
PPMPP’s statutory accounts. Statutory accounts were delivered each year to the companies’ registrar
(‘‘greffe du tribunal de commerce’’) since incorporation. PPMPP’s accounting year end is 31 December
with the first statutory accounts being drawn up to 31 December 2002.
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