Dr. Iyad Farah has announced that as of today, Per4m Asset management (PAM) LLP, has received from the UK Financial Conduct Authority (“FCA”) under reference # 715428 the authorization to operate as a Collective Portfolio Management Investment firm (CPMI) or Collective Portfolio Management firm (CPM, IPRU (INV) 11 and GENPRU / BIPRU or IPRU (INV) 11. Dr Iyad Farah went on to say that “this authorization is a reward for us and also a confirmation of the robustness of the various elements of our operational plan. It will allow PAM to operate a European Union license within the constraints of Article 18 of the European UCITS IV directive 2009/65/EC”.