LEGAL INFORMATION

Important Information

It is important that you read this page before proceeding, as the distribution of the information contained in this website in certain countries may be restricted by law and persons who access it are required to inform themselves of and to comply with any such restrictions. Please read all of this page and scroll to the bottom to accept before continuing.

Alpha Value Management (UK) LLP

This website is issued by Alpha Value Management (UK) LLP, which is Authorised and Regulated by the Financial Services Authority (FSA). Alpha Value Management (UK) LLP is a limited liability partnership incorporated in England & Wales (Partnership number OC306592) and has its registered address at Prince Consort House, Albert Embankment, London SE1 7TJ.

Avalon Absolute Return Funds Plc

Avalon Absolute Return Funds Plc is an open-ended umbrella fund incorporated as a variable capital investment company in the Republic of Ireland, under registration number 394457, and authorised by the Irish Financial Services Regulatory Authority pursuant to Part XIII of the Companies Act, 1990. Alpha Value Management (UK) LLP acts as Investment Manager to the company. Applications for shares of the Fund can only be made on the basis of the current prospectus of the Fund. Investing in the shares of the Fund (“Shares”) involves certain risks, as more fully described in the prospectus. There can be no assurance that the investment objective of the Fund will be met or that its investment program will be successful. Shares have not been and will not be registered under any securities laws of the United States of America or any of its territories or possessions or areas subject to its jurisdiction, and may not be offered for sale or sold to nationals or residents thereof.

Distribution and selling restrictions

a) General

The information below is for general guidance only. Further information is available in the Fund Prospectus. This website does not constitute or form any part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase any shares in the Fund. Subscriptions for shares in the Fund should only be made on the terms of the Prospectus and no reliance should be placed on any information herein. Money laundering regulations are likely to require you to provide additional documentation for identification purposes if you make an investment. Further details are contained in the Prospectus and Application Form.

b) United Kingdom

The Fund is not an authorised or recognised collective investment scheme for the purposes of the Financial Services and Markets Act (2000) and the promotion of the Fund is accordingly restricted by law. The Fund’s Prospectus may only be issued to categories of persons permitted under the Financial Services and Markets Act (2000) (promotion of Collective investment Schemes) (Exemptions) Order 2001. This document is being issued inside and outside the United Kingdom to and/or is directed at persons who are both (a) intermediate customers or market counterparties for the purposes of the FSA Conduct of Business Sourcebook (“COBS”) and (b) of a kind to whom the Fund may lawfully be promoted by a person authorised under the Act by virtue of Section 238(5) of the Act and Annex 5 to Chapter 3 of COBS. The investments and investment services to which this document relates are only available to the persons referred to above and other persons should not act or rely on it. This document is exempt from the scheme promotion restriction in Section 238 of the Act on the communication of invitations or inducements to participate in unregulated collective investment schemes on the grounds that it is being issued only to the types of person referred to above.

The Fund's investment program is speculative and entails substantial risks. The Shares discussed may be subject to sudden and large falls in price or value and there could be a large loss on realisation which could equal the amount invested. As there is no recognised market for the Shares, it may be difficult for an investor to sell or realise the Shares or to obtain reliable information about their value or the extent of the risks to which they are exposed. Changes in rates of exchange may have an adverse effect on the value, price or income of the Shares. References to future returns are not promises or even estimates of actual returns an investor may achieve.

The forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The information herein reflects prevailing conditions and the Investment Manager’s judgement as of this date, all of which are subject to change. Past performance or experience does not necessarily give a guide for the future.

The information and opinions contained in this document are for background purposes only and do not purport to be full or complete. No reliance may be placed for any purpose on the information or opinions contained in this document or their accuracy or completeness. No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in this document by the Investment Manager and no liability is accepted by the Investment Manager for the accuracy or completeness of any such information or opinions.

Investors in the Fund will not benefit from the rules and regulations made under the Act for the protections of investors, or from the UK Financial Services Compensation Scheme.

c) United States

The Shares in the Fund have not been and will not be registered under the Securities Act of the United States (as amended) (“the 1933 Act”) or the securities laws of any of the States of the United States. The Shares may not be offered, sold or delivered directly or indirectly in the United States or to or for the account or benefit of any “US Person” as defined in Regulation S under the 1933 Act except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act and any applicable State laws.

Risk Warnings

Investment in the Fund carries with it a high degree of risk and should not constitute the sole or main investment of any investor’s portfolio. Past performance is no guarantee of future performance. The value of investments in the Fund can go down as well as increase and may be affected by changes in rates of exchange. Investors may not get back the entire amount originally invested.

Prospective investors should review the Prospectus carefully and in its entirety and consult with their legal, tax and financial advisers in relation to the legal, tax, financial or other tax consequences of an investment in the Fund.

Liability

The information contained on this website has been taken from sources considered by Alpha Value Management (UK) LLP to be reliable but no representation, warrant or undertaking is given as to its accuracy or completeness. Views and opinions expressed on this website are provided by Alpha Value Management (UK) LLP in good faith but are subject to change without notice. In no event will Alpha Value Management (UK) LLP or any of its associated companies be liable for any loss or damage arising out of the use of or reliance on the information or opinions provided.

Copyright

This website is subject to copyright with all rights reserved. You may download the information on this website and reproduce it in hard copy for your personal use only. The information contained on this website may not be reproduced, copied or redistributed in whole or in part without the prior written consent of Alpha Value Management (UK) LLP.

Data Protection

If you apply for a password to log-in to the password-protected areas of the website, you will be required to provide certain personal information. This information is voluntarily submitted, and it will be held by Alpha Value Management (UK) LLP on a database to ensure compliance with regulatory requirements and for its own internal purposes. By submitting personal information in this way, you are consenting to its use for these purposes.

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