PF Finans / Clarinova

Business of Clarinova This chapter presents an overview of Clarinova including the Company’s main activities, products and strategies. Company background The Company is a SPV with purpose of issuing a Bond for investing in a portfolio SLS and secondary in other financial assets. The Company is governed under the laws of the Republic of Ireland. Legal and arbitration proceedings There have been no governmental, legal or arbitration proceedings (including any such proceedings which are pending or threatened of which the issuer is aware), during a period covering at least the previous 12 months which may have, or have had in the recent past, significant effects on the Company ´financial position or profitability. Business activity Clarinova’s business concept is to acquire, develop and manage a portfolio of SLS and other financial assets. The financing of the operations is via a Bond issue that has the form of structured financial instruments such as this Bond. The Company seeks to leverage off its unique skill set and first-mover advantage, rapidly developing a critical asset mass and generating robust profitability in one of the major financial markets, the market for SLS. The long term vision of developing into one of the leading vertically integrated investment companies in the SLS market, thus creating substantial wealth for its Bondholder shareholders, over time by forming a subsidiary och sister company for new opportunities in the SLS market. Economies of scale To create logistic efficiencies and synergies, the Company has formed several clusters for search and management of SLS assets. . Due to this structure the Company will be able to coordinate investments and management and to benefit from scale discounts. The cluster model optimizes the utilisation of management resources since the key factor is specialist labour. Best practice/technology An important part of the best practice approach is to perform the acitivites in selecting, structuring, developing a manging portfoilios at the optimal size. Clarinova seeks to significantly increase productivity by introducing a higher degree of computerised control and monitoring of portfolios an market opportunities. Hence, to increase yields the Company plans to hire internationally- experienced expertise developing methods and technologies in the SLS asset management. In a further step the Company is considering forming a strategic alliance with a retail financial actor or invest partners via a listing of the shares in the Company.

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