Page 36 - ASCOT GROUP COMPLETE DOCUMENT (2)

Key Dates

A number of key dates for the launch of Ascot Life that have been identified. All dates work from the
date of receipt of funding.

1. 2 months after receipt of funding – submission of application to IoMFSA
2. 6 months after receipt of funding – Receive licence
3. 6 months after receipt of funding – Launch
4. 12 months after receipt of funding – start producing profit.

Staffing & Administrator/Insurance

Manager/Fund Manager

Historically, successful new launch financial services companies have had problems in the area of
administration, particularly in outgrowing their staff capabilities, systems and office space. To avoid
these pitfalls, it has been decided to outsource the client administration (new business take on,
surrender and claims) to a regulated entity who holds the appropriate authorisations, and who will
also provide the technological software necessary for the operation. The preferred provider in this
area is a leader in the administration of similar products, and already has both the administration staff
capacity to provide the human resource required and software developers to ensure as much as
possible is automated. The Administrator is also willing to provide interfaces with our own portal
through their client interface gateway.

By outsourcing the basic administration, we have been able to concentrate on recruiting a team of
experienced industry professionals, with proven track records in the international finance sector. This
also allows the operation to be ‘sales and service’ dedicated, not tied up with basic administration.

The Isle of Man staff are, on average, significantly more senior than would be expected in a start-up
operation, and it is believed that this will be instrumental in being able to provide better service to
both clients and introducers. Ascot Group are also ‘compliance and governance heavy’, to ensure all
areas of the operation are able to meet regulatory requirements in active jurisdictions, monitor new
and existing business, and to deliver a regular stream of approved updates and teasers to the portal,
existing clients and social media feeds. Our aim is to transact business in all of our active locations in
a regulatorily compliant manner from outset, and to have legal advice to back up each step of our
business plan.

A high-level schematic showing the staff structure at launch is given included in the Appendices.