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Title: Resolution No. (114) of 2016 Regarding Private Marketing License of a Foreign Collective Investment Scheme Granted to KFH Capital Investment Company for KFHC U.S. Real Estate Fund II
Date Publish
29 November 2016
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 foreign collective investment scheme representative (KFH Investment Advisory Ltd II) and the marketing manager (KFH Capital Investment Company); and
- Based on the request of KFH Capital Investment Company on 12/05/2016 to conduct a private marketing for KFHC U.S. Real Estate Fund II;
The Following Was Resolved
Article (1)
KFH Capital Investment Company is hereby licensed to market a total of 100,000 units of KFHC U.S. Real Estate Fund II as a private marketing in the State of Kuwait. It is incorporated in the Cayman Islands. The minimum subscription limit is 250,000 Units divided as follows:
1- Total of 245,000 Units without voting rights.
2- Total of 5,000 Units with voting rights.
The offering price per unit shall be according to the Net Asset Value upon subscription, in addition to 2% subscription fee of offering price. The minimum subscription limit is USD 30,000 or 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 subscription applications receiving parties are as follows:
- Kuwait Finance House Bank
- KFH Capital Investment Company
Article (2)
The objectives of the Collective Investment Scheme are as mentioned in the prospectus.
Article (3)
The 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 a month of the 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.
Mishaal M. Al-Usaimi
Issued on: 28/11/2016
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