CMA LAW: CMA Resolution No. (7) of 2013 Regarding Granting a Private Marketing License of a Collective Investment Scheme to Al-Muthanna Investment Company K.S.C (Closed) for American Government Lease Portfolio

Having Perused:
- Law No. (7) of 2010 of the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws; and

- Based on the request of Al-Muthanna Investment Company K.S.C (Closed) to conduct a private marketing for the American Government Lease Portfolio in the State of Kuwait; and 

- The Articles and Memorandum of Association of Al-Muthanna Investment Company K.S.C (Closed) and the agreement between the investment manager – MIC Government Lease Investment Manager Limited and the marketing manager of Al-Muthanna Investment Company K.S.C (Closed); and

- Based on CMA Board of Commissioners Resolution No. (6) of 2013 passed in its meeting No. (4) of 2013 held on 13/3/2013 on delegating some competences of the Market Regulation Sector;

The Following Was Resolved

Article (1)
Al-Muthanna Investment Company K.S.C (Closed) is hereby licensed to market American Government Lease Portfolio as a private marketing in the State of Kuwait, which is established in the Cayman Islands in a capital of $ 100,000,000/- with a par value of $102/- per share, including $2 for marketing expenses. The maximum limit to be marketed in the State of Kuwait shall be as follows: 
1. Total of 980,000 shares of the company’s shares with no voting rights distributed as follows: 
• 245,000 shares for MGL NV Equity Company (Ltd.)
• 735,000 shares for MGL NV Finance Company (Ltd.)

2. Total of 20,000 shares of companies with voting rights distributed as follows:
• 5,000 shares for MGL Equity Company (Ltd.)
• 15,000 for MGL NV Finance Company (Ltd.) 

The total of the subscription amount shall not be less than KD 100,000 or the equivalent for each investor.

Article (2)
Objectives of the Collective Investment Scheme shall be as mentioned in the prospectus.

Article (3)
The marketing license is for a year renewable annually after paying the specified fees.

Article (4)
The concerned bodies shall execute this Resolution, each within its jurisdiction. It shall come into force from the date of publication in the Official Gazette.

Mishaal M. Al-Usaimi
Board of Commissioners Member

Issued on: 7/7/2013
     

نسخة pdf

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.