Luxembourg Regulated Investment Vehicles - Alfi

11SIF SICAR Securitization vehicle – regulatedFCPThe unit price will be determinedbased on the principles laid down inthe Management Regulations.Existing unitholders do not havea pre-emption right when new unitsare issued, unless specifically providedfor in the Management Regulations.SICAVThe issue of shares does not require anamendment of the Articles.The share price will be determinedbased on the principles laid down inthe Articles.Existing shareholders do not havea pre-emption right when new sharesare issued, unless specifically providedfor in the Articles.SICAFThe issue of shares requires anamendment of the Articles.The share price will be determinedbased on the principles laid down inthe Articles.When the SICAF is organized as aSA or SCA, existing shareholdershave a pre-emption right when newshares are issued, unless this right waswaived by the Shareholders’ Meeting.The distribution of dividends must beforeseen in the prospectus of the fund.For SICAV and FCP, distributions(interim or final) can be madeirrespective of the realized resultswithin the period, to the extent theminimum share capital is maintained.For SICAF, final dividend distributionsmay not result in a decrease in assets toan amount less than one-and-a- half timesthe fund’s total liabilities to its creditors.Interim dividend distributions aresubject to statutory requirements perArticle 72-2 of the Commercial Law.The issue of new shares requires anamendment of the Articles unless theSICAR is set-up with variable sharecapital.The share price will be determinedbased on the principles laid down inthe Articles.The issue of new shares will beconducted as provided for in theArticles. The existing shareholders willhave a pre-emption right if specificallyprovided for in the Articles.The distribution of dividends mustbe foreseen in the prospectus of theSICAR.Dividend distributions, interimand final, are not subject to specificregulatory requirements, except forcompliance with minimum capitalrequirements.Securitization fundThe unit price will be determinedbased on the principles laid down inthe Management Regulations.Existing unitholders do not havea pre-emption right when new unitsare issued, unless specifically providedfor in the Management Regulations.Securitization companyThe issue of new shares requires anamendment of the Articles.The share price will be determinedbased on the principles laid down inthe Articles.When the securitization company isorganized as a SA or SCA, existingshareholders have a pre-emption rightwhen new shares are issued, unlessthis right was waived by the Shareholders’Meeting.Securitization fundThere are no restrictions ondistributions (interim or final).Securitization companyFinal dividend distribution may notresult in a decrease in assets to anamount less than the subscribedcapital plus non-distributable reserves.Interim dividend distributions aresubject to statutory requirements perArticle 72-2 of the Commercial Law.