On 12 December 2017, the Malta Financial Services Authority (“the Authority”) suspended the Category 2 Investment Services Licence granted to Malta Capital Management Limited (“the Company”), the Investment Manager of MCM Global Opportunities Fund SICAV plc. The suspension will be applicable with immediate effect and will remain in force until such time as may be otherwise directed or decided by the Authority.

The Company was found to be in breach of:

(a) Standard Licence Condition (“SLC”) 8(a) in Section 1 of Part BIII of the Investment Services Rules for Investment Services Providers (“the Rules”), whereby the Company should notify the MFSA in writing and at least one month in advance, of a change in its business name;

(b) SLC 29 in Section 1 of Part BIII of the Rules, which requires the Company to act professionally in accordance with the best interests of its clients;

(c) SLC 35 in Section 1 of Part BIII of the Rules, which requires the Company to maintain financial resources sufficient for the proper performance of its functions. The Company should have sufficient financial resources at its disposal to enable it to conduct its business effectively and to meet its liabilities. SLC 35 then defines the applicable capital requirements regime;

(d) SLC 22 in Section 1 of Part BIII of the Rules, which requires the Company to have an appointed Compliance Officer;

(e) SLC 38 in Section 1 of Part BIII of the Rules which requires the Company to have an appointed Auditor; and

(f) SLC 40 in Section 1 of Part BIII of the Rules as the Company failed to submit the audited financial statements for the years ending 31 December 2015 and 31 December 2016 and the accompanying documentation required.

This regulatory action has been enforced in terms of Article 7(2)(b) of the Investment Services Act whilst this notice is being published in terms of the powers vested in the Authority under Article 16(8) of the Malta Financial Services Authority Act.