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The Investment Manager
Dolmen Securities Limited is the appointed Investment
Manager of the Dolmen Active Fund. It is the
responsibility of the Investment Manager to manage the
assets of the Company and to promote the sale of the
Shares. The Investment Manager is a member of the
London Stock Exchange, and is regulated by IFSRA under
the Investment Intermediaries Act, 1995 (as amended).
Mr. Reid and Mr. McGowan formed the Investment Manager
in 1995. The ERGO Group acquired a 50 per cent
interest in the Investment Manager in 1999. The ERGO
Group is the second largest German insurance group and
has recently formed the Munich ERGO Asset Management
Company with assets under management in excess of €100
billion.
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The Investment Manager’s stock broking
interests were merged with those of Butler & Briscoe to
create a wholly owned stock broking subsidiary Dolmen Butler
Briscoe. The management of the Investment Manager has
collectively over 30 years experience in stock broking and
fund management to a range of institutional and individual
clients. As of 30 November, 2003 the amount of assets under
the management of the Investment Manager totalled
approximately €2 billion. The Investment Manager will have
responsibility for the investment decisions, trade execution
and the supervision of the management of the investments of
the Company and also the promotion of the Shares to the
public.
The Administrator
Trinity Fund Administration Limited has been appointed to
act as administrator, company secretary and registrar of the
Dolmen Active Fund PLC . The Administrator is responsible
for maintaining the accounting records and calculating the
Net Asset Value per Share of the Dolmen Active Fund PLC. The
Administrator will not have any responsibility or authority
to make any investment decisions for the Company.
The Administrator was incorporated on 23 December 1993 as a
private limited company and commenced operations in June
1994. The Administrator provides management and
administration services to numerous funds, managed accounts
and investment companies. The Administrator is a
participating member of the Dublin Funds Industry
Association.
The Custodian
Barings (Ireland) Limited has been appointed Custodian of
the Dolmen Active Fund PLC. Barings (Ireland) Limited is a
private limited liability company incorporated in Ireland on
5 July 1990. Its main activity is the provision of custodial
services to collective investment schemes. Barings (Ireland)
Limited forms part of the Baring Asset Management group of
companies and as such is an indirect wholly-owned subsidiary
of ING Group NV. As at 31 August 2003 Barings (Ireland)
Limited had approximately $11,307 million in assets under
custody. The primary responsibilities of the Custodian are
to act as custodian and trustee of the assets of the Company
in accordance with the Memorandum and Articles of
Association.
The Custodian will be obliged, inter alia, to ensure that
the issue and repurchase of Shares by the Company is
effected in accordance with the Articles of Association and
will be responsible for the safe-keeping of all of the
Company’s assets. The liability of the Custodian will not be
affected by the fact that it has entrusted to a third party
some or all of the assets in its safe-keeping. In order to
discharge its responsibility in respect of third parties the
Custodian must exercise care and diligence in choosing and
appointing a third party as safe-keeping agent so as to
ensure that the third party has and maintains the expertise,
competence and standing appropriate to discharge the
responsibilities concerned. The Custodian must maintain an
appropriate level of supervision over the safe-keeping agent
and make appropriate inquiries from time to time to confirm
that the obligations of the agent continue to be competently
discharged. In addition, the Custodian will be obliged to
enquire into the conduct of the Company in each financial
year and report thereon to the Shareholders.
Auditors KPMG
Sponsoring Broker McCann Fitzgerald
Legal Advisors Arthur Cox
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