A new LTD is incorporated, the principal is involved neither legally nor operationally, depending on jurisdiction costs are EUR 30.000 in the first Year, 0.5% of the time-weighted NAV with a yearly minimum of EUR 25.000 in subsequent years.
Opening of new business and commercial accounts in the name of the new LTD as well as issuing and listing securities on the Third Market of Wiener Börse in 3-6 weeks.
There will be delivery versus payment to the custodian or a direct transaction through the stock exchange.
Proceeds from bond issuance will be transferred to the investment account of the designated Bank/Broker according to the bond memorandum to make the funds available for investment according to the investment strategy defined in the bond memorandum.
The designated investment manager of the investment account receives a limited power of attorney to invest according to investment strategy of the bond memorandum. The NAV of the investments in regards to the Listed Bonds is calculated and published weekly on the website of the Vienna Stock Exchange.