CMA LAW: Resolution No. (1) of 2016 Regarding Private Marketing License of a Foreign Collective Investment Scheme Granted to KFH Capital Investment Company for KFH U.S. Health Care Fund 1

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 investment manager (KFH Investment Services Limited) and the marketing manager (KFH Capital Investment Company); and

- Based on the request of KFH Capital Investment Company on 7/10/2015 to conduct a private marketing for KFH U.S. Health Care Fund 1 in the State of Kuwait;

The Following Was Resolved 

Article (1) KFH Capital Investment Company is hereby licensed to market the units of KFH U.S. Health Care Fund 1 as a private marketing inside the State of Kuwait. It is established in the Cayman Islands. The maximum limit per unit which will be marketed in the State of Kuwait shall be as follows:

1. A total of 58,800 units with no voting right.

2. A total of 300 units with a voting right.

The offering price per unit shall be according to the assets' net value of the Investment Company's shares at the time of subscription, in addition to 2% subscription fee of the purchase price of the Investment Company's shares.

The minimum subscription limit is KD 10,000.

Units offered in the State of Kuwait shall be for professional clients only, as provided for in the provisions of Module 1 (Glossary) of the Executive Bylaws of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating ecurities Activities and their amendments.

The subscription applications receiving parties are as follows: - KFH Capital Investment Company - Kuwait Finance House (KFH)

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 the CMA's license, and after paying the assigned fees.

Article (4) 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

Chairman of the Board of Commissioners

Issued on: 6/1/2016

Copy of the Official Document

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.