Each investment manager has been appointed under an investment management agreement with the management company and the company, which can be modified from time to time to ensure the day-to-day management of the company`s investments, subject to overall supervision and responsibility of the management company. The investment management agreement expired on February 28, 2014 and KBR no longer has an investment manager of the company on the same date. The investment management agreement between the management company, the management company and Edgewood Management LLC came into effect on August 9, 2013. Neither the memorandum and the status of the company nor the investment management agreement were audited by a lawyer on behalf of the shareholders. As of the date of this prospectus, the investment manager should be considered a representative of an independent entity acting in connection with the ordinary transaction, taking into account, among other things, the nature of his activities and the terms of his appointment and his role in the investment management agreement.