KTH Capital Limited
Mr. Du Wang
Mrs. Vivian Ding Li
The Directors
KTH Capital Limited
C/o Estera
Clifton House
75 Fort Street, PO Box 1350
Grand Cayman
KY1-1108
Dear Sir and Madame,
Re: Decision Notice — KTH Capital Limited (Reg. #4142) ("the Fund")
The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as Directors of the Fund. We refer to the Warning Notice dated 13 November 2019.
The Fund remains in breach of the Mutual Funds Law (2019 Revision) ("the Law") as follows:
- Section 8(1) and 8(2) for failure to prepare and submit audited accounts for the years ended December 2002 to December 2018.
TAKE NOTICE:
The Cayman Islands Monetary Authority of SIX, Cricket Square, P.O. Box 10052, Grand Cayman KY1-1001, Cayman Islands, has taken the following action.
ACTION:
The Authority has cancelled the Fund's mutual fund registration pursuant to section 30(16) of the Law.
REASONS:
The Authority is satisfied that the Fund has ceased to carry on, or attempt to carry on, business as a mutual fund. Despite repeated requests to resolve the regulatory breaches, the Fund has been unable to become compliant with the Law.
EFFECTIVE DATE OF DECISION:
The Authority's decision regarding the above action is effective 27 December 2019.
Yours faithfully,
Patrick Bodden
Deputy Managing Director - Operations
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