Information on the decision to suspend the payment of unit certificates of the KD RUSSIA mutual fund
Dear investors,
we kindly inform you, that by decision of June 2, 2022, adopted at 24:00 pm in the interest of the unitholders, the IAD Investments (hereinafter referred to as “IAD”) decided to suspend the payment of the Mutual Fund of the KD RUSSIA Mutual Fund for a suspension period of three (3) months on the grounds that the Mutual Fund invests its assets primarily into securities, which are shares and units of ETFs focused on Russian shares, which cannot be traded at the moment and whose value cannot currently be determined in the manner prescribed by the measure of the National Bank of Slovakia No. 13/2011. In the context of the escalating military conflict between the Russian Federation and Ukraine and the economic sanctions imposed on the Russian Federation, selected legal entities established in the Russian Federation and natural persons who are citizens of or related to the Russian Federation, trading on the securities market and other financial instruments related to the Russian Federation is severely disrupted.
The Russian Capital Market The Moscow Stock Exchange (MOEX) closed on February 28, 2022, and the Russian National Clearing Depository (NSD) blocked all securities registered in foreign nominated holders’ (FNH) accounts held by the Clearstream Banking S.A. based in Luxembourg, following which the International Central Securities Depository Clearstream Banking S.A. suspended the settlement of trades in Russian securities, including in foreign currencies. The Russian ruble currency has ceased to be an accepted currency for settlement of securities transactions and Russian securities and yield payments will be collected and paid to the extent permitted by sanctions and paid to the International Central Securities Depository Clearstream Banking SA, as a result of which it is not it is possible to carry out trades in securities and other financial instruments related to the Russian Federation traded on a regulated market and it is not possible to determine their value.
From the date of suspension of the payment of units of the KD RUSSIA mutual fund, IAD may not pay out or issue units of the KD RUSSIA mutual fund.
IAD hereby informs investors that it does not record any pending request for the issue of the Mutual Fund and no pending request for the redemption of the Units of the Mutual Fund and kindly asks investors NOT to request further applications for the issue of the Unit until the resumption of the issue and redemption of the Units of the Mutual Fund and NOT make any further payments to invest in the Mutual Fund, as the Company will be forced to refuse to issue the Mutual Fund’s Units at this time. IAD will inform unitholders about the resumption of the payment of unit certificates at the registered office of IAD and at the website www.iad.sk. Upon resumption of the issue and redemption of KD RUSSIA Mutual Fund Units, IAD will issue or redeem Units whose issue or redemption has been suspended at the current price of the KD RUSSIA Mutual Fund Unit on the date of resumption of unit redemption.
IAD will inform unitholders about the resumption of the payment of unit certificates at the registered office of IAD and at the website www.iad.sk. Upon resumption of the issue and redemption of KD RUSSIA Mutual Fund Units, IAD will issue or redeem Units whose issue or redemption has been suspended at the current price of the KD RUSSIA Mutual Fund Unit on the date of resumption of unit redemption.
