CmaBoardReleases
Title: Resolution No. (87) of 2021 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Boubyan Capital Investment Company to Market the Shares of 120 Raleigh Syndication Cayman Company Ltd
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 Boubyan Capital Investment Company, and the agreement between the representative of the collective investment scheme which is Ceres Fund Management (Cayman) Limited and the marketing manager of Boubyan Capital Investment Company; and
- The application submitted by Boubyan Capital Investment Company to conduct a private marketing of 120 Raleigh Syndication Cayman Company Ltd; and
- Based on Resolution No. (63) of 2021 regarding amending the authorizations for the Supervision Sector’s procedures issued on 14/06/2021.
The Following Was Resolved
Article (1)
Boubyan Capital Investment Company is hereby licensed to market 40,000,000 shares (forty million shares only) of 120 Raleigh Syndication Cayman Company Ltd as a private subscription in the State of Kuwait. It is incorporated in the Cayman Islands. The offering price shall be 100 US Dollars (one hundred US Dollars only) per share, in addition to a 2% subscription fee and a restructuring fee of a maximum of 0.5% of the subscription amount.
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 their amendments.
The parties receiving the subscription applications are as follows:
- Boubyan Capital Investment Company.
- Boubyan Bank.
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: 05/08/2021