LEGAL

The Fund is a multi-class company incorporated under the laws of Mauritius in 2011 as a private company limited by shares, authorised by the Financial Services Commission of Mauritius (FSC) as a global class 1 licence company under the Financial Services Act 2007 and authorised as a collective investment undertaking under the Securities Act 2005. The Fund is authorized by the FSC to be an Expert Fund under the Securities 2008 regulations (Undertakings for Collective Investment and closed-end funds), issued under the Securities Act 2005 of Mauritius.
The licences are renewable on June 30 of each year, provided that the Fund complies with the conditions attached to the licences.

MANAGEMENT SHARES
Management shares are offered to the Fund Manager. These shares are held by Mr. Bornet and Mr. Marchand

PARTICIPATING SHARES
Participating Shares will be offered to investors.

LEGAL

The Fund is a multi-class company incorporated under the laws of Mauritius in 2011 as a private company limited by shares, authorised by the Financial Services Commission of Mauritius (FSC) as a global class 1 licence company under the Financial Services Act 2007 and authorised as a collective investment undertaking under the Securities Act 2005. The Fund is authorized by the FSC to be an Expert Fund under the Securities 2008 regulations (Undertakings for Collective Investment and closed-end funds), issued under the Securities Act 2005 of Mauritius.
The licences are renewable on June 30 of each year, provided that the Fund complies with the conditions attached to the licences.

MANAGEMENT SHARES
Management shares are offered to the Fund Manager. These shares are held by Mr. Bornet and Mr. Marchand

PARTICIPATING SHARES
Participating Shares will be offered to investors.