Pipeline Project

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Disclaimer

Barak Fund Management will not be liable for any special, indirect, incidental, consequential or punitive damages or any damages whatsoever, whether in an action of contract, statute, delict (including, without limitation, negligence) or otherwise that relate to the use of this website. All information contained in this website pertaining to products and services and their terms and conditions, is subject to change without notice.

Although care has been taken as to what is contained in this website, no attempt has been made to give definitive or exhaustive statements of law or any opinions on specific legal issues and no representation is made or warranty given that the information is complete or accurate. This website does not constitute or offer legal or other advice and you should not rely on it as such advice.

Past performance is no guarantee of future returns and the fact sheets provided are for illustrative purposes only. The value of investments and income that are dependent on the performance of underlying assets or other variable market factors may vary from time to time. Investors must take cognisance of the fact that all the information provided are of historic nature.

Use of the website is entirely at the users own risk. Anyone requiring advice on any of the matters referred to herein should consult lawyers or other professionals familiar with the appropriate jurisdiction and legislation.

This Site contains information from Barak Fund Management and about the investment Funds it advisers. The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy. The distribution of information contained on this Site and the sale of shares in the Funds may be subject to legal or regulatory restrictions in certain countries in which users are resident or of which they are citizens.

This Site and its contents are being made available for the convenience of the present Investors of the Funds and such other persons expressly authorized by Barak Fund Management (“Authorized Persons”) for information purposes only, provided such Investors and Authorized Persons are not prohibited by any applicable law of any jurisdiction from receiving such information. Persons accessing this Site are therefore required to inform themselves about and observe such restrictions.

Barak Fund is an authorised financial services provider.

Disclaimer

Barak Fund Management will not be liable for any special, indirect, incidental, consequential or punitive damages or any damages whatsoever, whether in an action of contract, statute, delict (including, without limitation, negligence) or otherwise that relate to the use of this website. All information contained in this website pertaining to products and services and their terms and conditions, is subject to change without notice.

Although care has been taken as to what is contained in this website, no attempt has been made to give definitive or exhaustive statements of law or any opinions on specific legal issues and no representation is made or warranty given that the information is complete or accurate. This website does not constitute or offer legal or other advice and you should not rely on it as such advice.

Past performance is no guarantee of future returns and the fact sheets provided are for illustrative purposes only. The value of investments and income that are dependent on the performance of underlying assets or other variable market factors may vary from time to time. Investors must take cognisance of the fact that all the information provided are of historic nature.

Use of the website is entirely at the users own risk. Anyone requiring advice on any of the matters referred to herein should consult lawyers or other professionals familiar with the appropriate jurisdiction and legislation.

This Site contains information from Barak Fund Management and about the investment Funds it advisers. The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy. The distribution of information contained on this Site and the sale of shares in the Funds may be subject to legal or regulatory restrictions in certain countries in which users are resident or of which they are citizens.

This Site and its contents are being made available for the convenience of the present Investors of the Funds and such other persons expressly authorized by Barak Fund Management (“Authorized Persons”) for information purposes only, provided such Investors and Authorized Persons are not prohibited by any applicable law of any jurisdiction from receiving such information. Persons accessing this Site are therefore required to inform themselves about and observe such restrictions.

Barak Fund is an authorised financial services provider.

Data Room

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Barak Fund Management Limited -Investor Update

Following our communication to investors in March, Barak Fund Management Limited (BFML) wishes to provide the following update to investors on the ongoing restructuring process, which is nearing completion.


Posted: 23 April 2021

The focus on protecting value throughout the restructuring process, and the incorporation of feedback from our investor base has resulted in minor delays to the distribution of the pack to investors. We now expect to be able to deliver, with a high degree of certainty, the full restructuring pack by Friday 30 April.

Once this pack is distributed, investors will have 30 calendar days prior to the shareholders meeting to consider their options regarding approval of the amendments to the articles and modernisation of the Company, alternatively appointing a proxy to attend that meeting. Following completion of the 2019 audit in early April, we are also pleased to note substantial progress with the 2020 audit.

The field work for the 2020 audit has commenced, and we expect the audits for all funds to be completed by June 2021. We look forward to communicating further progress with the restructuring process over the coming weeks. BFML looks forward to implementing a restructuring process that is fair, timely and which will strategically position the Funds to capitalise on opportunities in the post Covid environment.

We thank all our investors for their patience and support during this period.

Amendments to the Board of Barak Fund SPC’s letter of 14 April

With reference to the Board of Barak Fund SPC’s letter to investors of 14 April, in which the Board reiterated its support for BFML, the Board wishes to provide clarification regarding two key areas covered in this note: • The accounting standard GAAP no longer applies to the accounts of Barak STF and its related entities.

The relevant accounting standard for the funds is IFRS. • The date of the targeted completion of the 2019 audit should have been articulated as June 2020, rather than June 2019 as mentioned in the note to investors.

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