Regulatory

Shareholder Rights Directive II Disclosure

“Under rule 2.2B.5R of the Financial Conduct Authority’s (“FCA”) Conduct of Business Sourcebook (“COBS”), Mayfair Equity Partners LLP (“Mayfair”) is required to either develop and publicly disclose an engagement policy that meets the requirements of the Shareholder Rights Directive II (“SRD II”) or to publicly disclose a clear and reasoned explanation of why it has chosen not to develop an engagement policy that meets the SRD II requirements. For the purpose of the SRD II, an engagement policy should include a description of how an asset manager integrates shareholder engagement, relating to companies that are listed on regulated markets, in its investment strategy.

Mayfair has chosen not to develop an engagement policy as it considers its investment strategy, which does not include trading securities on regulated markets, as not in keeping with the outcomes sought under the SRD II. Shares in listed securities are expected only to be held as an investment ancillary to, as a precursor to, or as a result of an investment in unlisted securities. Moreover, Mayfair ensures that the investors in its managed funds are regularly and routinely informed of the funds’ investment strategies. As such, Mayfair believes the investors would not expect it to comply with the core requirements of the SRD II and hence the Mayfair makes this disclosure in accordance with COBS 2.2B.5 R (2).”

Regulatory Warnings

Nothing on the Mayfair Website is intended to constitute an offer, solicitation or inducement to buy or sell investments of any description in any jurisdiction or to engage in any other investment activity.  You acknowledge that your requests for information in connection with the Mayfair Website are unsolicited.  Furthermore, nothing on the Mayfair Website shall constitute financial, investment, tax or any other type of advice or recommendation and should not be relied upon as such.  You should not rely on any statements set out in the Mayfair Website in making an investment or other decision but instead seek your own independent legal, regulatory, investment and tax advice.  The Mayfair Website is directed only at persons who are (i) persons falling within any of the categories of ‘investment professionals’ as defined in Article 14(5) of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001, as amended (the ‘CIS Order’) and Articles 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “FPO”);  (ii) persons falling within any of the categories of ‘high-net-worth entities’ as described in Article 22(2) of the CIS Order and Article 49(2) of the FPO; or (iii) any other person to whom it may otherwise lawfully be communicated (all such persons together being referred to as “Exempt Persons”) and to any person who meets one of the exemptions in COBS 4.12.4 of the FCA Handbook.  Any investment or investment activity to which the Mayfair Website relates is available only to Exempt Persons and will be engaged in only with Exempt Persons.  Accordingly, persons who are not Exempt Persons (in particular, persons who would be classified as “retail clients” under the FCA rules) must not rely on the Mayfair Website.