Trust Deed

clause 5.1

Creation, Issuance and Vesting of Units

Upon transfer of shares to the trustees, the Trustees shall create Units of one class to the effect that each share in KWFT shall be represented by one Unit.

Distribution to Unit Holders

The Trustees may determine the date on which income of the Trust Fund shall  be distributed to Unit Holders provided that Distribution Proceeds shall be paid as far as is possible within 60 days but in any event not later than 120 days following receipt by the trustees of income on shares whether in terms of interim dividends or final dividends or in any other manner received by them. Provided that the Trustees shall withhold payment to Unit Holders who are not in Good Standing with Company.

clause 6.1
Clause 7.1.4

Power and Authority of Trustees

Power to determine conclusively the allocation of the Trust Fund or the allocation of Units between the Unit Holders.

Register of Unit Holders and Records of Trust Fund Charges and Commission

There shall be a register of Unit Holders which shall be in custody or joint custody of the Trustees or such of their number  as they shall resolve shall be maintained at a convenient place which shall be notified to the Company and the Unit Holders.

Clause 14.1
Clause 14.2

Register of Unit Holders and Records of Trust Fund Charges and Commission

The aforesaid register may be electronic and may be made available to the Unit Holders on the World Wide Web on a site whose address shall be notified to the Company and the Unit Holders.

Register of Unit Holders and Records of Trust Fund Charges and Commission

Such an electronic register shall be maintained by such persons as will be appointed by the Trustees. 

Clause 14.3
Clause 14.4

Register of Unit Holders and Records of Trust Fund Charges and Commission

Upon the issue of Units ( as the case may be) to Eligible Member the Trustees shall enter that person's name in the register as a Unit Holder. The register shall contain separate entries for each Unit Holder and shall include the Unit Holder's account. 

Register of Unit Holders and Records of Trust Fund Charges and Commission

The Register shall contain details of such matters as the Trustees shall consider necessary for the proper administration of the trusts hereof and, inter alia, in particular shall specify:-

  • The full name and address of a Unit Holder;
  • The number of Units to which each Unit Holder is entitled under the KWFT CSOP Trust Rules and the number of Units actually issued to each Unit Holder;
  • The date on which each Unit Holder was entered in the Register;
  • The amount paid up or treated as having been paid by each Unit Holder  on each Unit as shown in the Unit Holder's account;
Clause 14.5
Clause 14.6

Register of Unit Holders and Records of Trust Fund Charges and Commission

The register shall be open to inspection by any member of the Board and any Unit Holder during the Company's office hours. 

Register of Unit Holders and Records of Trust Fund Charges and Commission

14.7 In addition to the Register and the Unit Holder's Account the Trustees shall keep records showing the total number of shares held by the Trust Fund, the amount of commissions fees and charges incurred  in dealing  with the shares and all other assets, sums, investments held by them under this Deed and a record of such other mattersas are relevant to the management and administration of the Trust Fund. Unit Holders and members of the Board shall be entitled upon  reasonable notice to the Trustees to inspect but not to take copies of such records are kept by the Trustees hereunder.

Clause 14
clause15

Audits and Reports

The Auditor shall review and audit annual financial statements of the Trust Fund and shall prepare a report thereon copies of which shall be forwarded to the Unit Holders, the Trustees and the Company within sixty (60) days of adoption of KWFT's audited accounts by the shareholders of KWFT in every year provided that the obligation to forward copies of the audited financial statements to the Unit Holders shall be fulfilled by making the audited financial statements available whether electronically  or otherwise.