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Title: Resolution No. (57) of 2020 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 IV LP
Date Publish
22 July 2020
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 Real Estate Fund IV GP Limited UK and the marketing manager KFH Capital Investment Company; and
- Based on the request of KFH Capital Investment Company to conduct a private marketing for UK Real Estate Fund IV LP; and
- Resolution No. (149) of 2018 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 25/11/2018.
The Following Was Resolved
Article (1)
KFH Capital Investment Company is hereby licensed to market 200,000 units (two hundred thousand units only) of UK Real Estate Fund IV 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 per unit in addition to the subscription fee of 2% of the total capital contribution.
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 its Executive Bylaws, and their amendments.
The parties receiving the subscription applications are as follows:
· KFH Capital Investment Company
Article (2)
The objectives of the Collective Investment Scheme are as mentioned in the prospectus.
Article (3)
The marketing license term is one year renewable annually from the issuance date of CMA’s license, and after paying the prescribed fees.
Article (4)
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 (5)
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: 22/07/2020
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