Thanks a lot for your help. The new RAM has just arrived. I've managed to borrow two HP 1GB DDR3 1333MHz (p/n 500208-061) modules. Tonight I will try them all. If this is not getting anywhere, with the graphic card not being installed, I can only conclude that either the mainboard is defective either the processor.
The mainboard behaviour is inconsistent. Yesterday after a while, the system was able to get over the q-code 99 just to end up at D7. After going through all kind of states, it stays for 1-2 seconds at 99 and switches to D7 and stays there.
PS: Extro, I'm sorry to say this, but a board which is not able to function according to specifications, the same specification which were the selling point, that board is not great at all. Really. Actually is kind of crap. I know it may be smart at some points and it ticks a lot of checkboxes, but in the end a company which sells products not being able to work accord to their own official specifications deserves the bankruptcy.