Dr. Iyad Farah has announced that as of May 23,2016, Per4m Asset management (PAM) LLP, has received from the French AMF (“Autorité sur les Marches Financiers”) the license to operate in France under the constraints of Article 18 of the European UCITS IV directive 2009/65/EC. Dr. Farah stressed further that in the course of June 2016, the license to operate in Ireland, Italy and other EU countries should be received”.