on 27 January 2021, the directors resolved that it is in the best interests of the the Company and of the shareholders to de-register the fund as an Experienced Investor Fund (‘EIF’) and convert into a private scheme pursuant to Section 293(4)(b) of Financial Services Act 2.
the rationale for the proposed de-registration as an EIF and conversion of the Company to a private scheme is ultimately to reduce the operating costs of the Company. the directors consider that it is in the best interests of the Company to de-register as an EIF and convert into a private scheme;
in view of the proposed de-registration of the Company as an EIF and conversion into a private scheme, by way of special resolution dated 23 March 2021 the Company changed its name from "El Faro Fund Limited" to "El Faro Private Fund Limited" and amended its Memorandum and Articles of Association accordingly;
the activities of the Fund shall be in compliance with the relevant provisions of Financial Services Act to meet the definition of a private scheme;
incorporated 26 October 2005
with registration number 95400