Page 21 - Kavka Proposal Web

1. Incorporation Information 5. The Board
The Company was incorporated and registered in The names of the Directors of the Company are set out in
England and Wales on 15th September 2015 under the Part 2.
Companies Act as a private company limited by shares
with registration number 09777338. 6. Company Accounts and Reporting
2. Management of the Company The Company will send the annual accounts to
Shareholders following the accounting year end. In
The Directors have ultimate responsibility for the addition, the Company will provide an annual statement
management of the Company. to Shareholders commenting on its performance and
activities over the Expected Minimum Period of Trade.
The day-to-day operation of the Company’s commercial
activities will be handled by its appointed Directors, 7. On-going Operational Expenses
employees and advisers to the Board.
The Directors will be responsible for overseeing the
3. Dividend Policy on-going administration of the Company including legal,
accounting, transactional and due diligence costs.
The Directors do not intend to pay dividends until at least The Company will use revenues generated from its EIS
the end of the three years following the commencement Qualifying Trade. The Company will meet all additional
of the Qualifying Trade, as the Company does not expect third party costs arising in the course of its trade out of
to make a profit within this period. At the end of the three cash flow realised from its Qualifying Trade.
years, any distributions will be made subject to applicable
company law and the Company’s Articles of Association.
4. EIS

The Company has received advance assurance from
HMRC that it should be a qualifying company for the
purposes of the EIS legislation. It is envisaged that
individual investors subscribing for EIS Qualifying Shares
in the capital of the Company will be entitled to Income
Tax Relief, CGT Exemption and CGT Deferral relief under
the EIS, providing certain conditions are met, which are
discussed further in Part 4 of this Brochure.

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