Information on the termination of the existence of the closed mutual fund "Growth Shares"

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2024-02-06

February 6, 2024

Dear holders of shares of the closed mutual investment fund Growth Shares (hereinafter referred to as the Fund), Joint Stock Company "VSS Invest" - a subsidiary of JSC CenterCredit Bank (hereinafter referred to as the Company) expresses its respect to you and wishes you success in your professional activities.


The Company hereby notifies of the occurrence of circumstances leading to the termination of the Fund, namely the termination of the Fund on the grounds provided for in subparagraph 3) of paragraph 1 of Article 33 of the Law of the Republic of Kazakhstan “On Investment and Venture Funds” and subparagraph 3) of paragraph 133 of Section XIII of the Rules of the Fund, in view of discrepancies between the value of the net assets of a mutual investment fund as a result of the execution of applications for redemption of shares and the requirement for the minimum size of assets of a mutual investment fund and failure to eliminate this discrepancy within two months from the date of its occurrence.


At the same time, the Company brings to your attention the conditions and procedure for the procedure for terminating the existence of the Fund:


1) Within 3 (three) days from the date of occurrence of the grounds for termination of the Fund’s existence, this information, as well as information about the conditions and procedure for the termination of the Fund’s existence, will be brought to the attention of the authorized body, and organizations ensuring the existence of the Fund, creditors of the Fund and parties to unfulfilled transactions with the Fund's assets. Information will be provided in the manner and under the conditions provided for by the Rules of the Fund.


2) Within 3 (three) days from the date of occurrence of the grounds for termination of the Fund’s existence, a request will be sent to the fund’s registrar (central depository) to terminate transactions on personal accounts in the register of fund unit holders, indicating the date of termination of registration of transactions in the register of unit holders, and exactly from 02/05/2024.


3) The deadline for submitting claims of creditors, which must be satisfied at the expense of the Fund’s assets, is 1 (one) month from the date of their notification of the termination of the Fund’s existence, namely from 02/06/2024. At the end of the period for submitting creditors’ claims, which must be satisfied at the expense of the Fund’s assets, and before the start of settlements with these creditors, the Company will compile and send to the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan information on the composition and value of the Fund’s assets, on the claims presented by creditors, on paid but undelivered fund assets, as well as a report on the results of consideration of this information and further actions.


4) Fulfillment of obligations upon termination of the Fund in the form of distribution of money will be carried out in accordance with the priority provided for in paragraph 148 of the Rules. Within fourteen calendar days after completion of settlements, the Company will provide to the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan information on the termination of the Fund with the attachment of: 1) notification of the Fund custodian on the distribution of all assets of the Fund; 2) notifications to the Fund’s registrar (central depository) about the closure of the system of registers of holders of the Fund’s shares.