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Under the investment agreement entered into with Majedie Asset Management, the Company intends to invest in the Tortoise Fund, in the UK Income Fund and in a segregated portfolio to be managed by MAM. The UK Income Fund and the segregated portfolio have annual management charges of 0.75%; the Tortoise Fund is subject to an annual management fee of 1.5% and a 20% performance fee (over a hurdle of 5%). The investment agreement is terminable on 6 months' notice by Majedie or Majedie Asset Management, expiring at any time on or after 31 December 2015.