CMA LAW: Resolution No. (161) of 2024 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to KFH Capital Investment Company to Market the Units of UK Real Estate Fund V LP

Having Perused:

- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and
- The Memorandum and Articles of Association of KFH Capital Investment Company, and the agreement between the representative of the collective investment scheme which is UK Real Estate V GP Limited and the marketing manager KFH Capital Investment Company; and
- The application of KFH Capital Investment Company to conduct a private marketing for the units of UK Real Estate Fund V LP; and
- Based on Resolution No. (24) of 2023 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 12/02/2023.

The Following Was Resolved

Article (1)
KFH Capital Investment Company is hereby licensed to market 125,000 units (one hundred and twenty-five thousand units only) of UK Real Estate Fund V LP as a private subscription in the State of Kuwait. It is incorporated in the Island of Guernsey.

The offering price shall be determined at the time of the offering based on the net asset value at that time, in addition to the subscription fee of 2% paid once upon subscription. The maximum total value of the units offered in the State of Kuwait shall not exceed KWD 50 million (fifty million Kuwaiti dinars only).

Article (2)

The marketed units shall be offered only for professional clients in the State of Kuwait according to Module One (Glossary) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments.

The party receiving the subscription applications is the following:
- KFH Capital Investment Company.
- Kuwait Finance House (KFH).

Article (3)
The objectives of the Collective Investment Scheme are as mentioned in the prospectus.

Article (4)
The marketing license term is one year renewable annually from the issuance date of the CMA’s license, and after paying the prescribed fees.

Article (5)
The prescribed fees shall be paid within one month from the date of issuance of this Resolution. In case of default, this Resolution shall be considered null and void.
Article (6)

The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.

Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 05/12/2024.

Copy of the Official Document

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