TNPF - The Stock Exchange of Thailand
TNPF - The Stock Exchange of Thailand
TNPF - The Stock Exchange of Thailand
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Dissolution <strong>of</strong> the Fund Management Project<br />
<strong>The</strong> Fund shall be dissolved in any <strong>of</strong> the following cases:<br />
1. When the number <strong>of</strong> unitholders <strong>of</strong> the Fund decrease to less than 35, within the next business<br />
day <strong>of</strong> the date the situation became known.<br />
2. <strong>The</strong> amount <strong>of</strong> registered capital decreases to be less than five hundred million Baht based on the<br />
par value <strong>of</strong> Investment Units where the Fund shall be dissolved on the next business day except<br />
for a property fund which exclusively invests in leasehold.<br />
3. When the Management Company is unable to invest in the property or leasehold right as<br />
specified under the Fund Scheme, except where the Management Company has increased<br />
registered capital to make additional investment in property or leasehold right <strong>of</strong> property and is<br />
unable to the additional investment.<br />
4. When there is a resolution passed by the majority votes <strong>of</strong> Untiholders based upon the total<br />
number <strong>of</strong> Investment Units <strong>of</strong> the Fund sold.<br />
5. When the term <strong>of</strong> the Project (if any) expires<br />
Additional Conditions for Dissolution <strong>of</strong> the Project<br />
- In various situations causing the Fund Manager to deem that the Fund should be terminated such<br />
as the Fund lacks <strong>of</strong> liquidity and cannot increase capital by the relevant amount, the Fund cannot<br />
maintain its investment ratio in immovable property or leasehold rights <strong>of</strong> immovable property<br />
specified by the SEC or the Office <strong>of</strong> the SEC or Capital Market Supervisory Board, etc.<br />
- When the Management Company inform <strong>of</strong> its resignation as the Management Company<br />
according to (2) and (3) in the clause Condition to Change the Fund Manager but the Fund and/or<br />
the unitholders cannot appoint any Management Company within 90 days from the resignation<br />
date.<br />
Fund Liquidation Process<br />
Upon the dissolution <strong>of</strong> the Fund, the Management Company shall appoint a liquidator approved by the<br />
Office <strong>of</strong> the SEC to dispose <strong>of</strong> the assets <strong>of</strong> the Fund, pay the debts <strong>of</strong> the Fund, collect and distribute<br />
money or assets to Unitholders in proportion to their respective Unitholding according to the register <strong>of</strong><br />
Unitholders, as well as do any other necessary acts to complete the liquidation in accordance with the<br />
rules, conditions and procedures prescribed by the SEC. After the completion <strong>of</strong> liquidation, the liquidator<br />
shall apply for registration <strong>of</strong> dissolution <strong>of</strong> the Fund with the Office <strong>of</strong> the SEC. <strong>The</strong> remaining assets, if<br />
any shall be vested in the Office <strong>of</strong> the SEC.<br />
Information Memorandum <strong>of</strong> Trinity Property Fund 32