Title: Resolution No. (121) of 2019 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Dimah Capital Investment Company to market the units of US CORE VENTURE VIII FUND

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 Dimah Capital Investment Company, and the agreement between the representative of the collective investment scheme which is Blue Dimah Advisory Services Limited and the marketing manager of Dimah Capital Investment Company; and

- Based on the application submitted by Dimah Capital Investment Company to conduct a private marketing of US CORE VENTURE VIII FUND; 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)
Dimah Capital Investment Company is hereby licensed to market 32,000 ordinary shares (Thirty-Two Thousand shares only) of US CORE VENTURE VIII FUND as a private subscription in the State of Kuwait. It is incorporated in the Cayman Islands. Each are as follows:

1. 30,000 shares (Thirty Thousand shares only) whose holder does not have a voting right. Each share consists of:

1. 0.26 ordinary share of USV Eighth Company’s shares – 1 Real Estate Ltd.
2. 0.74 ordinary share of USV Eighth Company’s shares – 2 Finance Ltd.

2. 2,000 Shares (Two Thousands shares only) whose holder have a voting right. Each share consists of:

1. 0.26 ordinary share of USV Eighth Company’s shares – 3 Investment Ltd.
2. 0.74 ordinary share of USV Eighth Company’s shares – 2 Finance Ltd.

The offering price shall be USD 1,000 (One thousand US dollars only) per unit, in addition to a 1% subscription fee for each investment share.

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 party receiving the subscription applications is as follows:

- Dimah 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: 25/07/2019

Copy of the Official Document