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NOTICE TO SHAREHOLDERS AND BROKER-DEALERS:

The Emerald Mutual Funds will make any capital gains or income dividend payments for calendar year 2017 in December.

Important dates for any distributions are as follows:

Record Date: Friday, December 15, 2017

Ex-Date: Monday, December 18, 2017

Payable Date: Tuesday, December 19, 2017

Please check back to this website for updated information as it becomes available.

Emerald Small Cap Value Fund - Class A

Historical Distributions

Ex-DateRecord DatePayable DateIncome Per ShareDistribution Type
12/18/201512/17/201512/21/2015$0.05029Ordinary Income
12/18/201512/17/201512/21/2015-Long Term Capital Gains
12/18/201512/17/201512/21/2015-Short Term Capital Gains
08/14/201508/13/201508/17/2015-Ordinary Income
08/14/201508/13/201508/17/2015$0.30640Long Term Capital Gains
08/14/201508/13/201508/17/2015$0.07471Short Term Capital Gains

Emerald Small Cap Value Fund - Class C

Historical Distributions

Ex-DateRecord DatePayable DateIncome Per ShareDistribution Type
12/18/201512/17/201512/21/2015$0.02848Ordinary Income
12/18/201512/17/201512/21/2015-Long Term Capital Gains
12/18/201512/17/201512/21/2015-Short Term Capital Gains
08/14/201508/13/201508/17/2015-Ordinary Income
08/14/201508/13/201508/17/2015$0.30640Long Term Capital Gains
08/14/201508/13/201508/17/2015$0.07471Short Term Capital Gains

Emerald Small Cap Value Fund - Class Institutional

Historical Distributions

Ex-DateRecord DatePayable DateIncome Per ShareDistribution Type
12/18/201512/17/201512/21/2015$0.06181Ordinary Income
12/18/201512/17/201512/21/2015-Long Term Capital Gains
12/18/201512/17/201512/21/2015-Short Term Capital Gains
08/14/201508/13/201508/17/2015-Ordinary Income
08/14/201508/13/201508/17/2015$0.30640Long Term Capital Gains
08/14/201508/13/201508/17/2015$0.07471Short Term Capital Gains
12/29/201412/29/201412/29/2014$0.06459Ordinary Income
12/27/201312/27/201312/27/2013$0.01386Ordinary Income
12/27/201312/27/201312/27/2013$0.64170Short Term Capital Gains
12/24/201212/24/201212/24/2012$0.03130Ordinary Income

Emerald Small Cap Value Fund - Class Investor

Historical Distributions

Ex-DateRecord DatePayable DateIncome Per ShareDistribution Type
12/18/201512/17/201512/21/2015$0.05294Ordinary Income
12/18/201512/17/201512/21/2015-Long Term Capital Gains
12/18/201512/17/201512/21/2015-Short Term Capital Gains
08/14/201508/13/201508/17/2015-Ordinary Income
08/14/201508/13/201508/17/2015$0.30640Long Term Capital Gains
08/14/201508/13/201508/17/2015$0.07471Short Term Capital Gains
12/29/201412/29/201412/29/2014$0.04830Ordinary Income
12/27/201312/27/201312/27/2013$0.64170Short Term Capital Gains
12/24/201212/24/201212/24/2012$0.02370Ordinary Income