FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

THE PROPERTY MANAGER
French Investment Portfolio Asset Management (‘‘FIPAM’’), was incorporated on 27 June 2001
(registered number B 438 302 044) as a limited company (société à responsibilité limitée) under the laws
of France. The registered office of FIPAM is at 36, avenue Hoche, 75008 Paris, France. FIPAM will be
appointed as Property Manager pursuant to the terms of the Property Management Agreements (as to
which see the section entitled ‘‘Summary of Principal Documents – The Property Management Agreements’’
above).
Principal Activity
The Property Manager provides property management services in relation to the Secured Properties
including, inter alia, monitoring and inspecting the Secured Properties to ensure they are in good repair,
negotiating any rent reviews under any lease, conducting negotiations with Occupational Tenants
including surrenders of leases, the granting of new leases and renewals of existing leases, collection of
rental income and other monies due under the Occupational Leases, including, without limitation, any
taxes, insurance proceeds and service charges.
Management
The Manager (gérant) of the Property Manager is Mr. Jean-Pierre Raynal.
Appointment as Property Manager
The Property Manager will be appointed by the Borrowers on or around the Closing Date, in each case
pursuant to a Property Management Agreement between the Property Manager and the relevant
Borrower, to be the property manager of the relevant Borrower with full power and authority to act as
property manager for the relevant Borrower and exercise all the powers expressed to be granted to the
Property Manager pursuant to the relevant Property Management Agreement.
Share Capital
As at the date of this Offering Circular the Property Manager has an authorised share capital of u10,000
divided into 10,000 shares of u1 each, of which 3,750 shares are held by Ringmerit Limited, 3,750 shares
are held by Proudreed Limited and 2,500 shares are held by Mr Jean-Pierre Raynal.
209