CmaBoardReleases
Title: Resolution No. (125) of 2016 Regarding Granting a Marketing License for a Collective Investment Scheme to Dimah Capital Investment for the Incorporation of CUK VI LIMITED Fund Outside the State of Kuwait
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, and the agreement between the representative of the collective investment scheme of Dimah Consulting Company Ltd. and the marketing manager "Dimah Capital Investment"; and
- Based on the request of Dimah Capital Investment on 08/08/2016 to conduct a private marketing for CUK VI LIMITED fund
The Following Was Resolved
Article (1)
Dimah Capital Investment is hereby licensed to market a total of 23,970 units (twenty-three thousand, nine hundred and seventy units only) of CUK VI LIMITED as a private marketing in the State of Kuwait. It is incorporated in the Cayman Islands. The offering price shall be 1,000 Pounds (one thousand Great British Pounds only) per unit or the equivalent in Kuwaiti Dinars, in addition to 1% subscription fee of total capital of the investor's share. The minimum subscription limit is 100,000 Pounds (one hundred thousand Great British Pounds only) or the equivalent in Kuwaiti Dinars for individuals and 500,000 Pounds (five hundred thousand Great British Pounds only) or the equivalent in Kuwaiti Dinars for entities.
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:
- Dimah Capital Investment
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 assigned fees.
Article (4)
The assigned fees shall be paid within one month of the issuance of this Resolution. In case of default within the specified period, 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.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 19/12/2016