The principal object of the Issuer is to purchase or otherwise acquire, under any title whatsoever, to hold and manage, by any title, movable and immovable property or other assets, including but not limited to securities and other financial interests. The issue of bonds falls within the objects of the Issuer. The Issuer is not intended to undertake any trading activities itself apart from the raising of capital and the advancing thereof to members of the Endo Tankers Sub-Group. Accordingly, the Issuer is economically dependent principally on the financial and operating performance of the businesses of Endo Tankers Sub-Group entities, comprising the business of acquiring, financing, managing and chartering commercial vessels (further details of said entities and their respective businesses are set out in sub-section 5.3 of this Registration Document). The Issuer does not have any substantial assets and is essentially a special purpose vehicle set up to act as a financing company. The Issuer is, therefore, intended to serve as a vehicle through which the Endo Tankers Sub-Group will continue to finance its future projects, principally and in the immediate future the projects set out in detail in sub-section 5.3.2.2 of this Registration Document, as well as other projects that may be undertaken by its subsidiary companies; and/or enabling the Endo Tankers Sub-Group to seize new opportunities arising in the market. There are no recent events particular to the Issuer which are, to a material extent, relevant to the evaluation of the Issuer’s solvency. The Issuer operates exclusively in and from Malta.