Rasoir Réglable à Cliquet

This traveller set is called a Rasoir Réglable à Cliquet. (Translated means "Rachet Adjustable Razor").
It's a three piece, but the "shim" for want of a better doesn't fit between the blade and the base plate and has tabs that push through the lather holes. It sits on the underneath of the base plate and does double duty:

(a) - The tabs push/clamp up the blade against the top cap and
(b) - It serves as the adjustment notches. There are two raised pieces which correspond with notches in the top of the handle.

As the handle is tightened, it pulls the top cap down and the tabs pushing through the lather holes keep the the blade clamped up against the underside of the top cap. The last image in the second row below shows both sides of the base plate. The Tin is all pressed aluminium and the handle looks like it was sourced from the same place as Famex.

Loosely translated the "advertising" in the lid says: This razor allows you to shave all beards from the hardest to the softest through five different settings

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How does it shave?
Its light and nimble and the head is low profile so it's very easy to get into those tight spots. On the lowest setting it is very mild.
Dialing it to three clicks, its reasonably effecient with minimal blade feel. Dialing it a further three clicks it has blade feel and is pretty effecient. On the higher settings it's a BBS shaver.

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