TNPF - The Stock Exchange of Thailand
TNPF - The Stock Exchange of Thailand
TNPF - The Stock Exchange of Thailand
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Rules and Restrictions in Holding <strong>of</strong> Investment Units<br />
1. <strong>The</strong> rules and restrictions in holding <strong>of</strong> the investment units will be as the regulations<br />
prescribed by the Office <strong>of</strong> the SEC as follows:<br />
1.1 Any person or group <strong>of</strong> same persons cannot hold the investment units more<br />
than one-third <strong>of</strong> the total number <strong>of</strong> investment units sold except in the<br />
following cases:<br />
(1) It is a distribution <strong>of</strong> the investment units to the following persons not<br />
more than 50 percent <strong>of</strong> the total investment units sold:<br />
(a) Government Pension Fund, Social Security Fund, Provident Fund<br />
or Mutual Fund for general investors.<br />
(b) Any Jurisitc person set up under Thai law and do not need to pay<br />
juristic person income tax.<br />
() Other persons waived by the Office <strong>of</strong> the SEC as deemed<br />
necessary and appropriate.<br />
(2) It is a distribution <strong>of</strong> the investment units to the underwriter who is<br />
deposited with the investment units in accordance with an underwriting<br />
agreement. <strong>The</strong> underwriter will hold such deposited investment units<br />
that are exceeding one-third <strong>of</strong> the investment units sold for not more<br />
than 1 year after the date <strong>of</strong> deposit.<br />
1.2 Owner, lessor, transferor <strong>of</strong> leasehold rights or person giving the rights <strong>of</strong><br />
immovable property which the Fund will invest in or any group <strong>of</strong> same persons<br />
holding the investment units in aggregate not exceeding one-third <strong>of</strong> the total<br />
number <strong>of</strong> investment units sold.<br />
1.3 Since the Fund invests in immovable property in the following manners, the<br />
Fund cannot have the foreign unitholders hold the investment units more than<br />
49 percent <strong>of</strong> the total investment units sold :<br />
(1) Invest in the right <strong>of</strong> land in accordance with the Land Code Act or<br />
(2) Invest in ownership in a condominium when the total areas <strong>of</strong> the<br />
condominium that the Fund invested in and the areas <strong>of</strong> the<br />
condominium already owned by foreigner investor is more than 49<br />
percent <strong>of</strong> the total areas <strong>of</strong> all condominium units in such condominium.<br />
2. Under 3 and 4, in case it appears as a fact to the Manangement Company that any<br />
person or group <strong>of</strong> same persons hold investment units <strong>of</strong> the Fund in aggregate more<br />
Information Memorandum <strong>of</strong> Trinity Property Fund 40
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