CmaBoardReleases
Back to Search
Title: Resolution No. (93) of 2024 Regarding Granting a Private Marketing License of a Collective Investment Scheme Incorporated outside the State of Kuwait to Kuwait Financial Centre ‘Markaz’ Company to Market the Shares of MKZ UKJ 1 Limited Company
Date Publish
25 July 2024
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 Kuwait Financial Centre ‘Markaz’ Company, and the agreement between the representative of the collective investment scheme which is Markaz Investment Advisers UKJ Limited and the marketing manager Kuwait Financial Centre ‘Markaz’ Company; and
- The application of Kuwait Financial Centre ‘Markaz’ Company to conduct a private marketing for the shares of MKZ UKJ 1 Limited Company; and
- Based on Resolution No. (24) of 2023 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 12/02/2023.
The Following Was Resolved
Article (1)
Kuwait Financial Centre ‘Markaz’ Company is hereby licensed to market 12,000 shares (twelve thousand shares only) of MKZ UKJ 1 Limited Company as a private subscription in the State of Kuwait. It is incorporated in Jersy. The offering price shall be GBP 1000 (one thousand GB Pounds only) per share.
The shares to be marketed in the State of Kuwait shall be offered only for professional clients 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 party receiving the subscription application is the following:
- Kuwait Financial Centre ‘Markaz’ Company
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 the 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: 25/07/2024.
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
We use cookies to ensure you get the best experience on our website.