Replacement Annual Financial Report -8-

+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                        89,056  | Dividend income                                                                                                          |                |                |                        997,618  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                     5,837,155  | Interest income                                                                                                          |                |                |                     17,530,707  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                      (267,895) | Net unrealised gain/(loss) on derivative financial instruments                                                           |      10        |                |                        209,992  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (3,293,088) | Net realised gain/(loss) on derivative financial instruments                                                             |      10        |                |                     (1,558,980) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (990,322)   | Net unrealised gain/(loss) on foreign currency                                                                           |                |                |                      1,169,467  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                   (10,578,179) | Net unrealised gain/(loss) on financial assets and financial liabilities designated at fair value through profit or loss |                |                |                      9,120,855  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                       119,580  | Net realised gain/(loss) on financial assets and financial liabilities designated at fair value through profit or loss   |                |                |                    (18,730,423) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (9,083,693) |  Total operating (loss)/income                                                                                           |                |                |                       8,739,236 | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                                |                                                                                                                          |                |                |                                 | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                                | Expenses                                                                                                                 |                |                |                                 | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                      (400,971) | Investment management fee                                                                                                |      4,9       |                |                     (2,473,602) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                      (569,213) | Operating expenses                                                                                                       |       4        |                |                       (874,769) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                      (164,949) | Directors' fees                                                                                                          |       4        |                |                       (193,421) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                       (60,701) | Administration fee                                                                                                       |       4        |                |                       (134,301) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                      (188,325) | Audit fee                                                                                                                |       4        |                |                       (228,550) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                       (25,379) | Custodian fee                                                                                                            |       4        |                |                       (151,820) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (576,681)   | Coupon note interest expense                                                                                             |                |                |                     (6,738,430) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (406,160)   | Write-off of goodwill                                                                                                    |                |                |                              -  | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                    (2,392,379) |  Total operating expenses                                                                                                |                |                |                    (10,794,893) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                                |                                                                                                                          |                |                |                                 | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
|                   (11,476,072) | Operating loss                                                                                                           |                |                |                     (2,055,657) | 
+--------------------------------+--------------------------------------------------------------------------------------------------------------------------+----------------+----------------+---------------------------------+ 
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