المادة 77: Meetings of Unitholders

Article 77: Meetings of Unitholders

a. The fund manager may call for a meeting of unitholders on its own initiative, provided that the subject of the invitation does not conflict with the duties and responsibilities of the fund manager in accordance with the provisions of these Regulations.

b. The fund manager must call for a meeting of unitholders within (10) days of receiving a written request from the custodian.

c. The fund manager must call for a meeting of unitholders within (10) days of receiving a written request from the unitholder or unitholders own collectively or individually at least (25%) in value of the units in the fund, and the fund manager must state it in the Fund’s Terms and Conditions.

d. The fund manager shall call for a meeting of unitholders by announcing it on its website and any other website available to the public according to the controls set out by the Authority, and by sending a notice in writing to all unitholders and the custodian giving not less than (10) days’ prior notice of the meeting and not more than (21) days’ notice before the meeting. The announcement and notice must specify the date, place, time and agenda of the meeting and the resolutions proposed. The fund manager must at the same time as sending a notice to unitholders convening any meeting of unitholders also send a copy of any such notice to the Authority.

e. Unitholders must be provided access, through the Fund Manager 's website and any other publicly accessible website in accordance with the controls set out by the Authority, to the necessary information and documents related to the agenda items when the call to the unitholders’ meeting is published, to enable them to make an informed decision.

f. When preparing the unitholders meeting's agenda, the fund manager must take into consideration the matters that unitholders wish to list; unitholders holding no less than )10%( of the value of the public fund units are entitled to add one or more items to the unitholders meeting's agenda, provided that the proposed items does not overlap with the duties and responsibilities of the fund manager in accordance with the provisions of these Regulations.

g. The fund manager may amend the unitholders meeting's agenda during the announcement period referred to in Paragraph (d) of this Article, provided that it is announced on the fund manager’s website and on any other website available to the public according to the controls set out by the Authority and by sending a written notice to all the unitholders and the custodian at least (10) days prior to the meeting and not more than (21) days’ notice before the meeting.

h. If the unitholders approve to any of the proposed decisions at the unitholders meeting, which necessitated amending the Fund’s Terms and Conditions, the fund manager must amend such Terms and Conditions in accordance with the approved decision.

i. The quorum required to conduct a meeting of the unitholders shall be a such number of unitholders own collectively at least (25%) in value of the units in the public fund, unless the Terms and Conditions of the fund specified a greater percentage.

j. If the quorum requirements set out in Paragraph (i) of this Article are not met, the fund manager must call for a second meeting by announcing it on its website and any other website available to the public according to the controls set out by the Authority and shall send a notice in writing to all unitholders and the custodian giving not less than (5) days' notice of the second meeting (excluding the day on which the notice is sent and the day of the meeting). The second meeting is considered valid regardless of the percentage of units represented in the meeting.

k. Every unitholder may be entitled to appoint a proxy to represent such unitholder at a meeting of the unitholders.

l. Every unitholder may be entitled to exercise one vote at the meeting of the unitholders for each unit which the unitholder holds as at the time of the meeting.

m. The unitholders meetings and its deliberations and voting on decisions may be conducted through modern technology in accordance with requirements set by the Authority.

n. The traded funds shall be exempted from the requirement to notify unitholders in writing, stipulated in Paragraphs (d), (g) and (j) of this Article. Provided that the announcement of such shall be made on the fund manager’s website and the Exchange's website.