Following the Company's statement in its December 2014 monthly report that it expected to be admitted to trading on the London Stock Exchange ("LSE") by mid-February 2015, the Company has suffered a delay due to an unforeseen technicality relating to the eligibility criteria for listing on the Official List of the UK Listing Authority ("Official List").

The Company's existing investment policy allows for Board discretion on investment limits in different asset classes and individual assets. The Company has now been informed that such discretion is not permissible for companies seeking admission to the Official List.

Although the Board's preference would be to deal with this technicality at the next annual general meeting of the Company, admission to the Official List of the UK Listing Authority prior to resolving this issue is not possible. With this in mind, the Board intends to convene an extraordinary general meeting of the Company as soon as possible to seek shareholder approval to make the required changes to the Company's investment policy. It is not anticipated that such changes will have any effect on the current investment portfolio or future intended investment strategy, as the Board did not intend to use its discretion. Therefore, the required changes to the Company's investment policy will only codify certain limits within which the Company's investment manager already operates.

The Board remains committed to seeking admission to trading on the LSE and listing on the Official List of the UK Listing Authority and, subject to obtaining shareholder approval for the changes to the investment policy, the Company anticipates becoming admitted to trading on the LSE during May 2015.

*****