annual report grupo security - Banco Security

f a c t o r i n g s e c u r i t y s . a .t y p e o f c o m p a n yClosely-held corporation.i n s c r i p t i o n i n t h e s e c u r i t i e s r e g i s t e rFactoring Security S.A. is not inscribed in the Securities Register.o b j e c t sThe company’s objects are to buy, sell and invest in all kinds of incorporeal assets such as shares, share commitments, bonds, billsof exchange, promissory notes, savings plans, quotas or rights in all kinds of civil, commercial or mining companies, communities orassociations, and all kinds of documents or securities; carry out factoring operations including the acquisition from any company orperson of accounts receivable documented with invoices, bills of exchange, promissory notes or other documents, with or withoutrecourse to the assignor and advance or not the value of such documents; grant financing with the guarantee of such documents andalso the simple administration of accounts receivable; provide administration services, market surveys, research and classification ofcustomers and advice in general; manage investments and receive their returns; and other activities that are complementary to suchobjects.g e n e r a l i n f o r m a t i o nThe company was constituted on November 26, 1992 before the notary Enrique Morgan Torres. An extract of the deed was published inthe Official Gazette on December 12, 1992 and the company was inscribed in the Santiago Trade Register. By public deed dated October20, 1997, the company changed its name to Factoring Security S.A.p a i d c a p i t a l a n d e q u i t yThe paid capital as of December 31, 2007 was Ch$14,303 million and the equity Ch$21,474 million.i n v e s t m e n t a s p r o p o r t i o n o f t h e a s s e t s o f g r u p o s e c u r i t y s . a .Factoring Security S.A. represents 6.38% of the assets of Grupo Security.t r a d i n g r e l a t i o n s w i t h s u b s i d i a r y a n d a s s o c i a t e c o m p a n i e s a n d t h e p a r e n tNo factoring business was carried out during 2007 with the parent company’s subsidiaries or associates. In the future, there is thepossibility of extending the offer of these services to customers of the parent’s subsidiaries and associate companies.b o a r d o f d i r e c t o r sCHAIRMAN · Francisco Silva S. TAX Nº: 4.103.061-5Directors · Francisco Ramón Juanicotena S. TAX Nº: 5.201.352-6· Renato Peñafiel M. TAX Nº: 6.350.390-8· Gonzalo Ruiz U. TAX Nº: 5.321.309-K· Mario Weiffenbach O. TAX Nº: 4.868.153-0PRESIDENT · Alan Lolic Z. TAX Nº: 7.037.931-7