CmaBoardReleases
Title: Resolution No. (13) of 2015 Regarding A Private Marketing License of a Foreign Collective Investment Scheme Granted to KFH Capital Investment Company (Kuwaiti Closed Shareholding Company) for KFH Capital Hospitality FUND- 1
Resolution No. (13) of 2015
Regarding
A Private Marketing License of a Foreign Collective Investment Scheme Granted to KFH Capital Investment Company (Kuwaiti Closed Shareholding Company) for KFH Capital Hospitality 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
- The Memorandum and the Articles of Association of KFH Capital Investment Company (Closed Kuwaiti Shareholding Company), and the agreement between the investment manager of KFHC Hospitality Advisor Company and the marketing manager KFH Capital Investment Company (Closed Kuwaiti Shareholding Company); and
- Based on the request of KFH Capital Investment Company (Kuwaiti Shareholding Company) on 02/12/2014 to conduct the private marketing for KFH Capital Hospitality Fund- 1 in the State of Kuwait; and
- Based on the Capital Markets Authority Board of Commissioners' Resolution No. (60) of 2014 regarding delegating some jurisdictions of the Supervision Sector;
The Following Was Resolved
Article (1):
KFH Capital Investment Company (Kuwaiti Shareholding Company) is hereby licensed to conduct in the State of Kuwait the private marketing of KFH Capital Hospitality Fund-1established in Cayman Islands, with a fixed capital of USD 61.282.936/- (Sixty One Million and Two Hundred Eighty Two Thousand and Nine Hundred Thirty Six American Dollars) with a nominal value of USD 0.01 for each individual unit, and the maximum units to be marketed inside the State of Kuwait are as follows:
- Total of 123.460 units do not hold a voting right of offer price of USD 411 per unit (Four Hundred and Eleven American Dollars per unit).
- Total of 10.736 units hold voting right of offer price of USD 411 per unit (Four Hundred and Eleven American Dollars per unit).
The minimum subscription amount is USD 359.625 (only Three Hundred Fifty Nine Thousand and Six Hundred Twenty Five American Dollars), and those to receive the subscription requests are as follows:
- KFH Capital Investment Company (Kuwaiti Shareholding Company)
- Kuwait Finance House (Kuwaiti Shareholding Company).
Article (2)
The objectives of the Collective Investment Scheme are as mentioned in the Subscription Prospectus.
Article (3)
The license term is one year renewable annually after paying the required 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.
Mishaal M. Al-Usaimi
Issued on 22/02/2015