ELEVATION CAPITAL GLOBAL SHARES FUND BIDS FAREWELL TO TIFFANY & CO.

The Elevation Capital Global Shares Fund divested its investment in Tiffany & Co. after Moët Hennessy – Louis Vuitton (LVMH) increased its bid to US$135.00 per share for the Company and the Directors recommended the offer. The fund held an investment in Tiffany for 7.61 years and generated a per annum (pa) return over the period of +18.4% p.a.