Title: Resolution No. (31) of 2019 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to KFH Capital Investment Company for the UK RE FUND III LP
Date Publish 20 February 2019
- 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 representative of the collective investment scheme which is UK RE lll GP Limited and the marketing manager KFH Capital Investment Company; and
- Based on the application submitted by KFH Capital Investment Company to conduct a private marketing of the UK RE FUND III LP in the State of Kuwait on 14/01/2019; 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
KFH Capital Investment Company is hereby licensed to market 150,000 units (one hundred and fifty thousand units only) of UK RE FUND III LP as a private subscription in the State of Kuwait. It is incorporated in the Island of Guernsey. The offering price shall be determined at the time of the offering based on the net asset value at that time in addition to the subscription fee of 2% of the total capital contribution.
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 Company
The objectives of the Collective Investment Scheme are as mentioned in the prospectus.
The marketing license term is one year renewable annually from the issuance date of CMA’s license, and after paying the prescribed fees.
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.
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.
Head of Supervision Sector
Issued on: 19/02/2019
Copy of the Official Document
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