Audited Financial Statements
Edam Funding One Limited (“the Company”) was incorporated on April 30, 1999
as an exempted company with limited liability under the laws of the
Cayman Islands with its principal
office at Boundary Hall, Cricket Square, George Town, Grand Cayman,
Cayman Islands. The Ordinary
Shares were issued to MaplesFS Limited (formerly Maples Finance Limited) under the terms of a Declaration of
on June 3, 1999.
The objectives for which the Company has been established are unlimited as
set out in its Memorandum of Association. At December 31, 2008 and 2007
the principal activity of the Company is limited to the issuance of
limited recourse instruments and the investment of the proceeds thereof
as described below.
The Company issues various types of limited recourse notes (the “Notes”) in
accordance with the terms of a US$10,000,000,000 Limited Recourse
Secured Note Programme (the “Programme”).
The Programme involves substantial risks and is suitable only for
sophisticated investors who have the knowledge and experience in
financial and business matters necessary to enable them to evaluate the
risks and the merits of an investment in the Notes.
The Programme permits the Company and any other company which
accedes to the Programme as an “Additional Issuer” to issue Notes
denominated in any currency subject to a maximum aggregate principal
amount of all Notes outstanding to the value of US$10,000,000,000 (or
its equivalent in other currencies at the time of agreement to issue).