CIMA Cancels Registration of Kingsend Capital Partners, Ltd. for Mutual Funds Law Breaches

CAYMAN ISLANDS MONETARY AUTHORITY 23 May 2017 Messrs. Avery Dalip and Jeffrey Nutting Directors KINGSEND CAPITAL PARTNERS, LTD. c/o CAYMAN International Corporate & Marine Services Ltd. P.O. Box 822 KYl-1103 Grand Cayman, Cayman Islands By Mail & E-mail Dear Sirs, Re: Decision Notice - KINGSEND CAPITAL PARTNERS. LTD. fRea. #17606^ rthe Fund"l We write to you in your capacity as directors of the Fund. We refer to the Warning Notice dated 30 March 2017. The Fund remains in breach of Sections 8(1), 8(2) and 9 of the Mutual Funds Law (2015 Revision) ("the Law") for failing to prepare and submit audited accounts to the Cayman Islands Monetary Authority ("the Authority") for the years ended 31 December 2010 to 2015, and for failing to pay its annual fees and penalties for the years 2011 to 2017. TAKE NOTICE: The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KYl-1001, Cayman Islands, has taken the following action: ACTION: The Authority has cancelled the Fund's mutual fund registration pursuant to Section 30(16) of the Law. REASONS: The Authority is satisfied that the Fund has ceased to carry on, or attempt to carry on, business as a mutual fund. Despite repeated requests, the Fund has been unable to become compliant with the Law and satisfy the Authority's termination requirements. EFFECTIVE DATE OF DECISION: The Authority's decision regarding the above action is effective 23 May 2017. Yours faithfully. Cindy Scotland (Mrs.) Managing Director 80 Shedden Road, Elizabethan Square, P.O. Box 10052, Grand Cayman KYI -1001, Cayman Islands Tel: 345-244-1639, Fax: 345-946-4651, Email: ContactCompliance@cimoney.com.ky, Web: http://www.cimoney.com.ky/