Title: Resolution No. (142) of 2019 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Gatehouse Capital to market the units of OAP Real Estate 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 Gatehouse Capital, and the agreement between the representative of the collective investment scheme which is Blue Pillar Advisor Ltd. and the marketing manager of Gatehouse Capital; and

- Based on the application submitted by Gatehouse Capital to conduct a private marketing of OAP Real Estate 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)
Gatehouse Capital is hereby licensed to market 37,500 ordinary shares (thirty seven thousand and five hundred shares only), of OAP Real estate Fund as a private subscription in the State of Kuwait. It is incorporated in the Cayman Islands. Each are as follows:

1. One share whose holder does not have a voting right in OEP Real Estate Ltd.
2. Three shares whose holder does not have a voting right in OEP Finance Ltd.

The offering price shall be USD 4,000 (Four 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:
- Gatehouse Capital

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: 10/09/2019

Copy of the Official Document