Milestones Capital is a systematic, directional program, trading a diversified portfolio of global commodity futures, bonds, stock market indices, and selected currency pairs. Trading algorithms determine a complete set of entry and exit conditions, and the implementation is fully automated.The Company's trading philosophy is to only enter into longer term directional positions on a carefully selective and concentrated basis with a focus on "tail events"​.Historically, the strategy will lead to a limited number of transactions each year with typical holding period of 2 - 8 weeks.Our algorithm-based investment strategy exploits the empirical fact that price formation in periods of "large"​ price movements (typically more than 2x-3x standard deviation) do not follow a "random walk", but instead with a statistical probability that can be determined a priori, follow certain regular statistical patterns. The patterns, which contain both trend following and mean reversion traits, have been unveiled using non-linear categorization methods, including k-means clustering, and complex financial price modeling. Certain qualitative aspects of this process are based on non-linear mathematical models described in chaos theory, including the use of log-linear equations. Among other things, these models suggest that markets are fractal and exhibit scale invariance, and that markets should intermittently exhibit predictable trending behavior over multiple time scales.

Michael worked as partner in Accunia Fondsmæglerselskab A/S and in that capacity built a portfolio of 700 million DKK, which he was directly responsible for. Accunia in the period grew from 6 to 23 employees and today has more than 5.3 billion DKK in AUM. Accunia’s performance since the conception in 2008 has been a rate of return of 97.7 % up until February 2014. Michael is a trained economist (Cand. Oecon/M.Sc) from Århus University, from where he graduated in 1987. Mr. Hemicke left Accunia in June 2014 to take on the position as Chairman of the Board and Managing Director at Milestones Capital.

Director (business development) in Fortis (branch Copenhagen). Fortis consists of Mees Pierson which is 100% owned. Fortis is an international financial services provider active in the fields of banking and insurance. Fortis ranks among the twenty largest financial institutions in Europe with 85.000 employees, net equity EUR 15 billion and a market capitalisation of EUR 27(ultimo 2007) billion. In the coming years Fortis will build up its Scandinavian position with branches in Copenhagen and Stockholm. Fortis intends to increase via organic growth within commercial banking and acquisitions in private banking and asset management. My job task is to build this position (asset management) up in Scandinavia. Service to the scandic-HNWI segment, portfolio management and asset allocation through our Mees Pierson funds. Representation in fundcommities

Director in Capitalis Private Equity / Corporate Finance. Capitalis were owned by some of Denmark’s largest financial institutions: Jyske Bank, Nykredit, Spar Nord Bank and Fionia Bank Capitalis owners have a consolidated balance sheet of approximately 110.1 billion Euros and 5.9 billion Euros in equity.Capitalis ownership structure secures the direct link to the capital markets ad the optimal solution - regardless of the transaction size. This ensures considerable funds, distribution and placement power. Transaction size is typically between EUR 7-70 million and includes cross boarder. Small and mid cap companies is core business but also listed companies. In 2004 Capitalis were involved in two capital issues on the Copenhagen stock exchange and one buy out between a Danish and Latvian/Estonian company.My work in Capitalis primary consists of: 1. Evaluation and assessment of investments projects and business cases. 2. Advising companies in strategic and financial issues. Financial planning and control. 3. Carrying through transactions until final completion. In 2005 the assets was sold and Capitalis closed down.

Senior Manager in Gudme Raaschou Investment Bank:Job assignments• Strategic and financial advice to the completion of transactions. Undertaking the overall project management and supply the necessary decision-making data such as market assessment analysis, information memorandums, valuations and the participation in negotiations.• Completed transactions: Secondary placement Lundbeck capital issue, de- listening of Cubic Modulsystem A/S. Share transfer: Enemærke & Petersen A/S a construction company bought by Højgaard and Schultz A/S.• Financial adviser for Veidekke ASA, Peab AB, Albani, Monberg & Thorsen, Højgaard & Schultz, NKT Holding and Ejendomsselskabet Norden.

1995-99 Head of equity research • The department consisted of 9 analyst and 15 employees covering Scandinavian listed companies.• Asset allocation, strategy and presentations towards institutional clients. • Part of management in Nykredit Equity Department• Analytical sector responsible for real estate, retail and financials.• 1999 the department was closed down due to a new strategy in the Bank.

Equity analyst. Bjørnskov had 40 employees. The clients were institutional investors and I was covering capital goods and financial services. Other important tasks: • Merger of Chr. Oplagspladser, Hafnia Erhvervsejendomme and Ejendomsselskabet Norden.• Capital issue in Hafnia Holding. • Deputy manager in 1992 .