CmaBoardReleases
Title: Resolution No. (134) of 2016 Regarding Granting a Marketing License for a Collective Investment Scheme to KFH Capital Investment for the Incorporation of UK Real Estate Fund LP Outside the State of Kuwait
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, and the agreement between the representative of the collective investment scheme of UK Real Estate GP Limited and the marketing manager "KFH Capital Investment"; and
- Based on the request of KFH Capital Investment to conduct a private marketing for UK Real Estate Fund LP inside the State Of Kuwait;
The Following Was Resolved
Article (1)
KFH Capital Investment is hereby licensed to market a total of 61,750 units (sixty one thousand and seven hundred and fifty units only) of UK Real Estate Fund LP as a private marketing in the State of Kuwait. It is incorporated in the Guernsey Islands. The offering price shall be 1,000 Pounds (one thousand Great British Pounds only) per unit or the equivalent in Kuwaiti Dinars, in addition to 2% subscription fee of total capital of the investor's share. The minimum subscription limit is 30,000 Pounds (Thirty thousand Great British Pounds only) or the equivalent in Kuwaiti Dinars.
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
· Kuwait Finance House
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 assigned fees.
Article (4)
The assigned fees shall be paid within one month of the issuance of this Resolution. In case of default within the specified period, 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.
Dr. Nayef Falah Al-Hajraf
Issued on: 26/12/2016