2011 Report - Fortress Mutual Fund Ltd

Fortress Mutual Fund LimitedNotes to Consolidated Financial StatementsSeptember 30, 2011(expressed in Barbados dollars)12 Redeemable mutual fund sharesClass ‘A’ Redeemable Mutual Fund Shares (Fund shares)Each Fund share is entitled to an equal share in the distribution of net income and net capital gains of the Fundand participates equally in all other respects. Fund shareholders shall not be entitled to vote at meetings ofshareholders of the Fund save and except as permitted under the Companies Act, CAP 308, for the following:i) Disposal of the assets of the Fund.ii) Any change or abrogation of the rights of the shares or any variation affecting the rights of the shares.iii) Any proposed amalgamation of the Fund or any amalgamation of the Fund13 Share capital2011 2010Numberof shares $Numberof shares $Common sharesAn unlimited number ofcommon shares of no parvaluesIssued 1,000 40,000 1,000 40,000Common sharesThe 1,000 common shares, held by the Fund Manager, carry full voting rights, but do not share in the profits ofthe Fund. On winding up of the Fund, the shares would be repaid at issued value.(24)