DISCLAIMER

Information for investors

This website is provided by Phoenix Legal Financing Fund I (the "Sub-Fund") and is for information purposes only. No guarantee, representation, undertaking or warranty, express or implied, is given by the Centaur Asset Management Ltd (the “Investment Adviser”), Emerging Asset Management Ltd (the “Investment Manager”), Emerging Manager Platform Ltd (the “Company”), the Sub-Fund, Apex Fund Services Ltd (the “Administrator”) or their respective directors, officers, partners, shareholders or members as to the accuracy or completeness of the information or opinions contained on this website and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions.

The Sub-Fund is a a Segregated Account constituted as a distinct class of shares in the Company, an exempted company incorporated with limited liability under the laws of Bermuda as a mutual fund and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 of Bermuda, as amended.

This website does not constitute or form any part of a prospectus, offer, invitation or solicitation for the sale of shares in the Company or the Sub-Fund, nor should it be construed to constitute any investment, legal or tax advice. It should not be used or considered for the purpose of any offer to sell or solicitation to buy shares in the Company or the Sub-Fund in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorised. This website is not aimed at persons who are residents of any country in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make any offer to sell or solicitation to buy shares in the Company or the Sub-Fund.

Users of this website who intend to subscribe for shares in the Company or the Sub-Fund are reminded that any subscription for any class of shares in the Company or the Sub-Fund can only be made by completing the subscription agreement for the relevant shares and shall be made solely on the basis of the information contained in the private placement memorandum of the Company and the supplement thereto of the Sub-Fund. Persons interested in making a subscription into the shares of the Company or the Sub-Fund should contact the Investment Advisor for the necessary documentation.

In making an investment decision, investors must rely on their own examination of the Company and the Sub-Fund and the terms of the offering, including the merits and risks involved. No assurance can be given that the Company’s or the Sub-Fund’s investment objectives will be achieved.

The shares of the Company or the Sub-Fund have not been filed with or approved or disapproved by any regulatory authority of any country or other jurisdiction, nor has any such regulatory authority passed upon or endorsed the merits of the Company or the Sub-Fund.

The directors of the Company (the "Directors") do not expect that an active secondary market will develop in the Company’s or the Sub-Fund’s shares. No listing or other dealing facility is at present being sought for any part of the Company’s or the Sub-Fund’s shares, although the Directors may reserve the right to seek a listing in the future.

Information for investors in the United Arab Emirates

Users of this website are reminded that no approval has been sought in relation to the Company or the Sub-Fund from any regulatory body in the UAE In the UAE, the shares of the Company or the Sub-Fund can only be sold after obtaining the approval of the Emirates Securities and Commodities Authority, which has not been obtained, and then only subject to requirements provided in law.

Information for investors in the United Kingdom

Users of this website are reminded that the Company or the Sub-Fund is not authorised or regulated under the provisions of the Financial Services and Market Act 2000. Accordingly, the shares of the Company or the Sub-Fund cannot be promoted or sold in the United Kingdom, other than under the exemptions permitted by the Act, in particular, the Financial Services and Market Act 2000 (Participation of Collective Investment Schemes) (Exemptions) Order 2001. In the UK, the shares of the Company or the Sub-Fund can only be sold to professional clients and/or self certified sophisticated high net worth individuals by an FSA Regulated Investment Advisor who has carried out a suitability test, as this is classified as an Unregulated Collective Investment Scheme ("UCIS") and is not regulated or recognised by the FSA in the United Kingdom.

Information for investors in the United States of America

Users of this website are reminded that the shares of the Company or the Sub-Fund may not be offered or sold in the United States or to U.S. persons at any time (as defined in Regulation S under the U.S. Securities Act of 1933 or the U.S. Internal Revenue Code). The shares of the Company or the Sub-Fund have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state in the United States, and is subject to U.S. tax requirements. The shares of the Company or the Sub-Fund may not be offered, sold, transferred or delivered without compliance with all applicable securities laws and regulations.

Information for investors in Bermuda

Users of this website are reminded that the Company or the Sub-Fund may not make an invitation to the public in Bermuda to subscribe for the shares of the Company or the Sub-Fund.

No investment, legal or tax advice

Nothing contained in this website constitutes investment, legal, tax or other advice, nor is it to be relied upon when making investment or other decisions. The information on this website is available for information purposes only. You should obtain relevant and specific professional and legal advice before making any decision to enter into an investment transaction.

Liability for use of this website

Access to this website is permitted on a temporary basis and the Sub-Fund reserves the right to withdraw or amend the service it provides on this website without notice. The material and information displayed on this website are provided without any guarantees, conditions or warranties as to accuracy or completeness and are not intended to amount to advice on which reliance should be placed. The Investment Advisor, the Investment Manager, the Administrator, the Company and the Sub-Fund disclaim all liability and responsibility arising from any reliance placed on such materials and information contained on this website, or by anyone informed of any of this website's contents.

The internet is not a completely reliable transmission medium and none of the Investment Advisor, the Investment Manager, the Administrator, the Company and the Sub-Fund accept any liability for any data transmission errors such as data loss or damage or alteration of any kind or for the security or confidentiality of information transmitted across the internet to or from the Investment Advisor, the Investment Manager, the Administrator, the Company, the Sub-Fund or their respective directors, officers, partners, shareholders or members. Any such transmission of information is entirely at the website user's own risk.

Intellectual property rights

The Sub-Fund is the owner or the licensee of all intellectual property rights in this website, and in the materials published on it. Those works are protected by laws and treaties around the world. All such rights are reserved. Information found on this website may not be reproduced, distributed, stored in a data retrieval system, linked to modified or transmitted, in any forms or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written consent of the Sub-Fund. Nothing on this website can be construed as granting any licence or right in relation to any of the Sub-Fund trademarks or those of a third party.

Law and variation

The terms and use of this website are governed by and shall be construed in accordance with the laws of Bermuda. The courts of Bermuda will have jurisdiction over any dispute arising from, or related to this website and by using this website each user agrees that the courts of Bermuda are the most appropriate and convenient courts to settle disputes. Accordingly, each user agrees not to argue to the contrary or object to proceedings in such courts on the grounds of venue or that the proceedings have been brought in an inconvenient forum. The Investment Advisor retains the right to bring, in its sole discretion, proceedings against any user for any breach of these terms in the user's country of residence or any other relevant country.