Category Archives: Assets

DIGI COMMUNICATIONS N.V. reports to the regulated market the shares buy-back transactions which occurred under the DIGI symbol between 6 and 10 August 2018

BUCHAREST, Romania, 13-Aug-2018 — /EPR Financial News/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 6-10 Aug 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

Digi Communications N.V. will host a conference call to discuss the H1 2018 financial results on August 14, 2018

BUCHAREST, Romania, 07-Aug-2018 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that on August 14, 2018 (at 17:00 UK time) it will host a conference call to discuss the H1 2018 financial results.

To participate in the conference please follow the instructions from our website:
www.digi-communications.ro

A webcast of the call and the presentation materials will be available on our websites and the webcast will be archived for 30 days: www.digi-communications.ro.

SOURCE: EuropaWire

DIGI COMMUNICATIONS N.V. reports to the regulated market the shares buy-back transactions which occurred under the #DIGI symbol between 30 July and 3 August 2018

BUCHAREST, Romania, 06-Aug-2018 — /EPR Financial News/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 30 July-3 Aug 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

DIGI COMMUNICATIONS N.V.: SHARES BUY-BACK TRANSACTIONS FOR THE 23-27 JULY 2018 PERIOD

BUCHAREST, Romania, 30-Jul-2018 — /EPR Financial News/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 23-27 July 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

Digi Communications N.V. submitted the Independent Limited Assurance Report on the information included in the current reports for H1 2018 to the Romanian Stock Exchange

BUCHAREST, Romania, 26-Jul-2018 — /EPR Financial News — Digi Communications N.V. (“Digi” or the “Company”) announces that on July 26, 2018 the Company submitted the Independent Limited Assurance Report on the information included in the current reports issued by the Company in accordance with requirements of Law 24/2017 (Article 82) and FSA Regulation no. 5/2018 for H1 2018to the Romanian Stock Exchange (“BVB”). The Report is also available on the Company’s website.

For details regarding the reports, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section).

SOURCE: EuropaWire

DIGI COMMUNICATIONS N.V.: SHARES BUY-BACK TRANSACTIONS FOR THE 16-20 JULY 2018 PERIOD

BUCHAREST, Romania, 23-Jul-2018 — /EPR Financial News/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 16-20 July 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

DIGI COMMUNICATIONS N.V.: SHARES BUY-BACK TRANSACTIONS FOR THE 9-13 JULY 2018 PERIOD

BUCHAREST, Romania, 16-Jul-2018 — /EPR Financial News/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 9-13 July 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: Europawire

DIGI COMMUNICATIONS N.V. reports to the regulated market the shares buy-back transactions which occurred under the DIGI symbol between 2-6 July 2018

BUCHAREST, Romania, 09-Jul-2018 — /EPR FINANCIAL NEWS/ — In accordance with the FSA Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 2-6 July 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

ANCOM authorized RCS&RDS’ request to apply a surcharge for certain roaming services supplied to its own customers traveling in the EEA

BUCHAREST, Romania, 04-Jul-2018 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. announces the publishing of ANCOM approval for RCS & RDS S.A. to continue to apply a surcharge for certain roaming services provided in the EEA for a renewed period of 12 months.

We would like to inform the market and our investors that the National Authority for Management and Regulation of Communications in Romania (ANCOM) has authorized RCS & RDS S.A., the Company’s subsidiary in Romania (“RCS&RDS”) to continue to apply a surcharge for certain mobile telephony roaming services supplied to its customers traveling in the European Economic Area (EEA), therefore including the European Union.

By decision issued on 29 June 2018, for allowing RCS&RDS to continue to recoup the costs incurred for the supply of roaming services and to continue to apply the national tariffs in Romania, ANCOM has authorized RCS&RDS’ request to apply a surcharge, on top of the national tariffs, for certain roaming services supplied to its own customers traveling in the EEA, but without going above the maximal following values:

  • 0208 Euro/minute (excluding VAT), for the calls made by its clients,
  • 0091 Euro/minute (excluding VAT), for the calls received by its clients (this value might vary in accordance with the changes brought by the European legislation),
  • 97 Euro/GB (0.00297 Euro/MB), excluding VAT.

RCS&RDS will apply the roaming surcharges starting from the first unit of consumption supplied to its own customers traveling in the EEA.

The renewed authorization issued by ANCOM will apply for 12 months starting 1 July 2018.

For information regarding the initial approval in this respect granted to RCS&RDS in 2017, we invite the market and our investors to refer to the current report issued by the Company on 30 June 2017 (http://www.digi-communications.ro/en/investor-relations/shares/current-reports/digi-current-report-30-06-2017).

SOURCE: EuropaWire

DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol between 25-29 June 2018

BUCHAREST, Romania, 04-Jul-2018 — /EPR FINANCIAL NEWS/ — In accordance with the Romanian National Securities Commission Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 25-29 June 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

DIGI COMMUNICATIONS shares buy-back transactions for the week 18-22 June 2018

BUCHAREST, Romania, Jun-25-2018 — /EuropaWire/ — Digi Communications N.V. announces the publishing of Notification shares buy-back: DIGI COMMUNICATIONS N.V. reports to the regulated market the transactions which occurred under the DIGI symbol between 18-22 June 2018.

In accordance with the Romanian National Securities Commission Regulation no. 5/2018 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority“ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 18-22 June 2018.

For details regarding the Notification of shares buy-back, please access the official website designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

DIGI COMMUNICATIONS: SHARES BUY-BACK TRANSACTIONS FOR THE WEEK JUNE 11-15, 2018

BUCHAREST, Romania, 18-Jun-2018 — /EPR Network News/ — In accordance with art. 150 of the Romanian National Securities Commission Regulation no. 1/2006 and art. 2 of the Commission Delegated Report (EU) 1052/2016, DIGI COMMUNICATIONS N.V. reports to the regulated market (Bucharest Stock Exchange “BVB”, Romanian Financial Supervisory Authority “ASF”, the Dutch Authority for the Financial Markets “AFM”) the transactions which occurred under the DIGI symbol between 11-15 June 2018.

For details regarding the Notification of shares buy-back, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section/Current Reports).

SOURCE: EuropaWire

Digi Communications B.V.: legal acts in accordance with Romanian Law no. 24/2017 and Rule no. 1/2006 of CNVM made publicly available on the Romanian Stock Exchange (“BVB”)

BUCHAREST, Romania, 17-Jun-2018 — /EPR Financial News/ — Digi Communications B.V. (“Digi” or the “Company”) announces that on June 15, 2018 the Report regarding legal acts concluded by DIGI Communications N.V. in accordance with Romanian Law no. 24/2017 and Rule no. 1/2006 of CNVM for May 2018 was made publicly available on the Romanian Stock Exchange (“BVB”) and the Company’s website, while also being available with the Romanian Financial Supervisory Authority (“ASF”) and the Dutch Authority for Financial Markets (“AFM”).

For details regarding the reports, please access the official websites designated of Digi: www.digi-communications.ro (Investor Relations Section).

SOURCE: EuropaWire

THE BOARD OF DIRECTORS OF DIGI COMMUNICATIONS NV DECIDED UPON THE INITIATION OF THE CLASS B SHARES BUY-BACK PROGRAM

BUCHAREST, Romania, 16-Jun-2018 — /EPR Financial News/ — Digi Communications NV (The Company) would like to inform its shareholders and the market that, by decision from 7 June 2018, the Board of Directors of the Company decided upon the initiation of the class B shares buy-back program in accordance with the resolutions of the general shareholders meeting of the Company from 2 May 2018 (the GSM), through which the Board of Directors was authorized to acquire, for a 12 months period starting with the date of the GSM and until, including, 1 May 2019, a maximum of up to 10% of the issued class B share capital at the close of trading on the Regulated Spot Market of the Bucharest Stock Exchange on the date of the AGM, subject to a maximum price per class B share equal to the average of the highest price on each of the five trading days prior to the date of acquisition, as shown in the Official Price  List of the Regulated  Spot  Market of the Bucharest Stock Exchange plus 5% (maximum price) and to a minimum price per common share equal to the average of the  lowest  price on each of the five trading days prior to the date of acquisition, as  shown in the Official Price List of the Regulated Spot Market of the Bucharest Stock Exchange minus 5% (minimum price) – the Program.

The Program will be performed and implemented in line with the applicable legal rules and regulations relating to the buy-back programs, specifically article 5 from the European Parliament and the EU Council’s Regulation no 596/2014 regarding the market abuse and the Commission Delegated Regulation (EU) 2016/1052, as well, in compliance with the applicable volume and price thresholds.

It is intended that the class B shares to be repurchased under the Program to be used for the purpose of the several stock option programs as already or to be further approved by the Company.

The Board of Directors of the Company has chosen BRD Groupe Société Générale S.A. as the broker handling the Program.

At the initiation of the Program, it is intended starting as of 11 June 2018 to acquire a total volume of 500,000 class B shares of the Company that can be further adjusted within the above mentioned limits by decision of the Company. During the buy-back process, the Company will comply with the volume and price thresholds as set out by the Delegated Regulation (EU) 2016/1052.

For additional information, please contact us at ipo.relations@digi-communications.ro.

SOURCE: EuropaWire

Digi Communications NV approved the implementation of stock option plan to the benefit of the officers and employees of Digi Spain S.L.U.

BUCHAREST, Romania, May-28-2018 — /EPR Financial News/ — Digi Communications NV (The Company) would like to inform the market and its investors that it approved the implementation of a stock option plan to the benefit of the officers and employees of Digi Spain S.L.U., the Company’s subsidiary in Spain. The maximum number of options of class B shares allocated to this plan amounts to 35,000. The grant of the stock options under this plan will be determined based on performance criteria and the vesting will be conditional upon the passage of a minimum duration of 1 year.

Also, in addition to the stock option plan for the Romanian officers and employees with respect to which the Company informed the market and its investors in December 2017, the Company also granted on 24 May 2017 conditional stock options to a limited number of Romanian directors and employees. The number of options of class B shares granted to such directors and employees amounts to a total of 250,000 stock options. The further vesting of all option shares granted will be conditional upon several performance criteria and the passage of a minimum duration of 1 year.

SOURCE: EuropaWire

The parent holding company of RCS & RDS Digi Communications NV granted conditional stock options to several of its Directors

 

BUCHAREST, Romania, 20-May-2018 — /EPR Financial News/ — The Company would like to inform the market and its investors that, on 18 May 2018, Mr. Serghei Bulgac (Chief Executive Officer and Executive Director of the Company), Mr. Valentin Popoviciu (Executive Director of the Company), Mr. Marius Vărzaru (Non-executive Director) and Mr. Bogdan Ciobotaru (Non-executive Director) have been granted by the Company conditional stock options pursuant to the decision of the Company’s general meeting of shareholders dated 2 May 2018. The number of options of class B shares granted as part of this stock option plan (applicable for the years 2018 and 2019) amounts to a total of 686,090 stock options. The further vesting of all option shares granted will be conditional upon several performance criteria and the passage of a minimum duration of 1 year.

More details regarding the stock options granted to each of the above-mentioned Directors are available on the Company’s website at http://www.digi-communications.ro/en/see-file/DIGI-_-AGM-2018-_-Agenda-and-explanatory-notes-21-03-2018.pdf (the Agenda and Explanatory notes published by the Company on 21 March 2018, Annex I and Annex II).

In accordance with the applicable regulations, on 18 May 2018, Mr. Serghei Bulgac, Mr. Valentin Popoviciu, Mr. Marius Vărzaru and Mr. Bogdan Ciobotaru, as persons discharging managerial responsibilities in connection with the Company, have notified the Company and the Romanian Financial Supervisory Authority in connection with the grant of the above-mentioned stock options and the execution between each of them and the Company of corresponding stock option agreements.

For additional information, please contact us at ipo.relations@digi-communications.ro.

SOURCE

Digi Communications NV CEO Serghei Bulgac and Executive Director Valentin Popoviciu exercised their stock options

BUCHAREST, Romania, 20-May-2018 — /EPR Financial News/ — The Company (Digi Communications NV) would like to inform the market and its investors that on 15 May 2018 Mr. Serghei Bulgac, Chief Executive Officer and Executive Director of the Company and Mr. Valentin Popoviciu, Executive Director of the Company, have exercised their stock options, which have vested in accordance with the provisions of the Company’s stock option plan and which were granted pursuant to the decision of the Company’s general meeting of shareholders dated 21 April 2017 and in relation to which the above mentioned persons and the Company have concluded stock option agreements on 14 May 2017. In accordance with this stock option plan, Mr. Serghei Bulgac was granted 220,000 shares, while Mr. Valentin Popoviciu was granted 60,000 shares.

In accordance with the provisions of article 19 para. (1) of the Market Abuse Regulation, on 17 May 2018, Mr. Serghei Bulgac and Mr. Valentin Popoviciu, as persons discharging managerial responsibilities in connection with the Company, have notified the Company and the Romanian Financial Supervisory Authority in connection with the exercise of the stock options.

For additional information, please contact us at ipo.relations@digi-communications.ro.

SOURCE

Fast Invest will allow users to use their bitcoin or ethereum as collateral for loans in traditional currencies

Essex, UK, 13-Dec-2017 — /EuropaWire/ — Fast Invest is excited to announce the launch of its native cryptocurrency token (FIT) during their upcoming ICO launched on December 4th. The FinTech company has been operating since 2015 in the investment loan space, connecting funders with loan-seekers in a peer-to-peer exchange. With more than 8,500 daily users from 36 countries, Fast Invest is expanding into the largely unoccupied cryptocurrency lending sector.

Blockchain-based cryptocurrencies have been rapidly in 2017, racking up a seventeen times (at the time of this press release) increase in market capitalization since the beginning of 2017.  As these financial technologies mature new opportunities arise, especially for unbanked and underbanked populations. This is because digital currencies allow for the exchange of value without the need for central banks or other intermediaries. Fast Invest aims to leverage these developments to democratize investment by allowing people to invest as little as one dollar on their loan platform. This enables users to band together to crowdfund a loan that gets paid back with interest, which can then generate returns for the loan suppliers.

In what may be a first for the industry, Fast Invest will allow users to use their bitcoin or ethereum as collateral for loans in traditional currencies. Due to the nature of smart contracts, loans like this can be executed with very little human input and all parties can be sure that the terms of the loan will be carried out. This is because smart contracts utilize code and mathematics to enforce agreements without the need for human intervention.

By expanding to cryptocurrency-based investment instruments the company aims to reduce friction in the world of P2P investment and loan services. These offerings include a cryptocurrency exchange, digital wallet for holding tokens, cryptocurrency investment services, decentralized lending, and a payment card that can be funded by cryptocurrencies but used like a credit card.

SOURCE: EuropaWire

Research: 53% of HNWIs relocating or intending to relocate would expect online banking to be part of an international wealth management proposition

LUXEMBOURG, Nov-16-2017 — /EuropaWire/ — New research from The OneLife Company reveals that ensuring investments are tax efficient and managing international tax commitments are among the top financial priorities for internationally mobile HNWIs. In spite of this, fewer than 40% of relocators feel that their investments are as tax efficient as they need them to be.

The insight points to the growing urgency for wealth managers to tailor solutions and services to international clients. One in four European HNWIs surveyed has previously moved countries to live or work, with a further 13% intending to relocate for the first time in the future. The appetite for international living is rising further among the millennial segment, with the number of relocators and future relocators under the age of 35 rising to 43% and 20% respectively.

The research, carried out in conjunction with wealth insights firm Scorpio Partnership, considered the views of 770 HNWIs from Belgium, Denmark, Finland, France, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The average wealth of participants was EUR2.76 million.

Responses revealed that 46% of individuals relocating or intending to relocate would expect tax advice to be part of an international wealth management proposition. Notably, 27% would also require life assurance to be included within the product suite, with this figure rising to 39% among those under 35.

“Younger generations of clients are more likely to relocate and are clearly more cognizant of the range of benefits – such as portability – which life assurance can provide,” commented Marc Stevens, Chief Executive Officer at OneLife.

The findings also point to the significance of technology for the relocator segment. Online banking was the top requirement in an international wealth management proposition, with 53% of relocators saying this was necessary to manage wealth.

This was affirmed by the fact that individuals who continued to work with their primary wealth manager following relocation referenced quality of tools as the primary reason to stay with the firm. By contrast, a quarter of individuals changing wealth management provider following relocation cited lack of suitable digital services as a motivator to pursue a different relationship.

SOURCE: EuropaWire

Top Performing Investment Manager, Chetan Kapur of ThinkStrategy Capital, Went Way Above and Beyond for Investors which Enjoyed Leading Returns for a Decade

New York, NY, 2017-Oct-12 — /EPR FINANCIAL NEWS/ — Top Performing Investment Manager, Chetan Kapur of ThinkStrategy Capital, Went Way Above and Beyond for Investors which Enjoyed Leading Returns for a Decade. Chetan Kapur Gets Unjustly, Unjustifiably and Repeatedly Attacked by Corrupt Element at the SEC.  Top Performing Investment Manager, Chetan Kapur of ThinkStrategy Capital, Went Way Above and Beyond for Investors which Enjoyed Leading Returns for a Decade. Chetan Kapur Gets Unjustly, Unjustifiably and Repeatedly Attacked by Corrupt Element at the SEC.

  • Extremely Honest, Selfless & Diligent Chetan Kapur Sacrificed All His and ThinkStrategy’s Resources for the Benefit of Investors During the Great Recession and Thereafter. Chetan Kapur Even Gave Up His Investment and Creditor Claim in the ThinkStrategy Funds for the Benefit of Investors.
  • Corrupt, Deceitful Contingent at SEC Engaged in a Campaign of Harassment, Defamation and False Imprisonment Against Chetan Kapur. The SEC Attack Began One Year After ThinkStrategy Closed Operations, With the Worst Banking Crisis in US History, Having Depleted All Resources for Investors Benefit.  SEC Attempted to Extort Third Parties Including Chetan Kapur’s Family Out of Assets That Legally Belonged to Them But Failure Was Inevitable.
  • All SEC Claims Against Chetan Kapur were Clearly Defamatory, Slanderous, Fictional and Egregiously False. SEC’s Fabricated and Fake Claims were Based on Stale, Partial, Out of Context, Contorted or Erroneous Information.
  • Numerous Independent Third Parties Provide Testimony and Testimonials Which Highlight Chetan Kapur’s Excellent Reputation, Impeccable Character and Outstanding Contribution to the Community.

ThinkStrategy Capital Management managed and advised two leading hedge funds – ThinkStrategy Capital Fund, an equity market-neutral fund and TS Multi-Strategy Fund, a leveraged multi-strategy fund of hedge funds and had a comprehensive managed account program. The funds and managed accounts provided investors excellent annual returns with low relative volatility for the majority of a decade. All investors received the reported returns that were based on the net asset values generated from the funds trading or allocations. With the financial and banking crisis, the leveraged TS Multi-Strategy Fund, a top performer, was put into liquidation by its lender and custodian, KBC Financial, in 2008 (which put all their leveraged clients into liquidation). ThinkStrategy Capital eventually put the TS Multi-Strategy Fund into the hands of PriceWaterhouse Coopers. The TS Multi-Strategy Fund conducted due diligence on or evaluated approximately 8000 investment opportunities and had over 150 different investments.

ThinkStrategy Capital had quality independent service providers that audited and administered the Company’s funds and returns. The Funds’ custody, leverage, brokerage, liquidation, legal, tax and other service providers were also quality independent firms. The service providers included PriceWaterhouse Coopers, KBC Financial, O’Connor Davies Munns and Dobbins, Eisner, Folio Administrators and Kirkpatrick & Lockhart.

ThinkStrategy Capital always had a Director of Business Development that fully managed and spearheaded the firm’s capital raising, sales and investor relations effort. The Director of Business Development created all offering materials and was responsible for all investor needs as it related to the Funds’ performance, assets under management, longevity, strategy, due diligence and management team. In addition, other senior members spearheaded portfolio management, research and due diligence, trading and other functional areas of the firm (such as operations and archiving). ThinkStrategy Capital was a sophisticated growing firm managed in a similar fashion to many growing hedge funds of its size.

Any inadvertent omission or inaccuracy made by ThinkStrategy’s Director of Business Development or his investor relations team in the normal course of business in one-off documents was not only corrected immediately when identified and re-issued but also accurately noted in many other offering and marketing materials including the fund’s foundational offering documents (i.e. the Offering Memorandum, Limited Partnership Agreement and Investment Management Agreement).  The Funds’ sophisticated, qualified, experienced, accredited investors carefully reviewed all documents and spoke to and met the ThinkStrategy team and their independent service providers – all of which accurately answered all questions prior to investment. Not one ThinkStrategy investor was ever misled in any way, shape or form as to the investment products and the risks associated with them. Not one investor ever redeemed as a result of an inadvertent inaccuracy being corrected by the Director of Business Development or his investor relations team.

ThinkStrategy Capital Management conducted comprehensive research and due diligence in all its investment products. ThinkStrategy Capital’s fund of hedge fund product, TS Multi-Strategy Fund, had an extensive, multi-faceted program of diligence that included operational, strategy, risk, stress and scenario due diligence processes (that were applied to all sub-funds being evaluated). Each due diligence process had several qualitative and quantitative aspects and checks not noted to investors but to their benefit. Other leading fund of funds also had similar processes that were above or at industry standard for the time.  The TS Multi-Strategy Fund investments oftentimes were recommended by highly regarded institutional advisors or consultants, or came from respected investment databases. All TS Multi-Strategy Fund sub-fund managers always had strong knowledge and experience with their strategy, very solid business and investing experience, and used quality service providers. Many sub-funds were eliminated from consideration as a result of the stringent and multi-faceted due diligence performed by ThinkStrategy Capital. TS Multi-Strategy Fund continually improved its above or at industry standard due diligence processes eventually adopting a ‘No Stone Should Be Left Unturned’ policy even if there were no red flags. Furthermore, the TS Multi-Strategy Fund could not invest in any sub-fund unless it passed KBC Financial’s (TS Multi-Strategy Fund’s lender and custodian) independent due diligence processes and standards.

The TS Multi-Strategy Fund, a leading performer, was one of KBC Financial’s last clients to be put into liquidation as it was a top performer and well diversified. The leveraged fund of hedge funds had no choice in having to submit full control over to KBC Financial’s liquidation process, the worst banking crisis in US history and the worst economic and financial crisis since 1929. Nonetheless, the fund outperformed a vast majority of its peers locked in a similar position in spite of coming to discover and fully writing off a couple of issue or fraudulent sub-investments. Further, had the SEC done their jobs properly, being the only ones with access to third-party fund bank and brokerage statements, the TS Multi-Strategy Fund of Funds and thousands of other sophisticated investors would not have been a victim of any fraud losses. The TS Multi-Strategy Fund and the ThinkStrategy Capital Fund enjoyed investment success and outperformance significantly higher than its peers in all periods.

Chetan Kapur and ThinkStrategy Capital worked very diligently for investors of the leveraged funds even while receiving no compensation or fees for approximately 3 years as KBC Financial (lender and custodian that put all their clients into liquidation with the US banking crisis) halted all required fees payable to their investment managers during the liquidation period. ThinkStrategy Capital and its founder, Chetan Kapur, thereafter went out-of-pocket during these 3 years to pay for the entire infrastructure and operating expenses of these funds until their resources were fully depleted leaving Chetan Kapur with very significant debts. Most other investment managers would have forced their funds into court receivership or the hands of a liquidator immediately whereby all these expenses and costs would be charged to the fund – thereby hurting investor returns (and would not have worked 16+ hour days in selfless sacrifice as Chetan Kapur did). Chetan Kapur did not abandon investors, which he was legally entitled to do as he was working gratis. Investors benefitted at the very substantial cost and expense of Chetan Kapur.

ThinkStrategy Capital and Chetan Kapur during this liquidation period devoted a lot of hard work and effort in providing detailed reports to investors, in making prudent decisions on sub-funds that were restructuring or liquidating, in procuring the sub-funds to payout as soon as feasible (including participating in investor committees and appointing advisors to oversee payouts), in obtaining risk, liquidity, outlook and other updates from the sub-funds, as well as maintained coordination with all service providers to the fund (the independent auditors, the independent administrators, the independent accountants and tax preparers, and independent legal) while the Company and Kapur received no compensation for their diligence. Further, the fund’s investors were provided substantial fee discounts in the normal course of business prior to the economic and banking crisis too – once again benefitting investors at the cost of ThinkStrategy Capital and Chetan Kapur.

ThinkStrategy Capital eventually put the Multi-Strategy Fund of Hedge Funds into the hands of PriceWaterhouse Coopers after 3 long years of managing all aspects and costs of the funds without pay, having done all it could for investors, depleting resources fully and leaving founder, Chetan Kapur, in a very substantial debt position. Further, ThinkStrategy Capital and Chetan Kapur suffered the exact same percentage loss during the economic, banking and private lending crisis being an investor in the fund that was put into liquidation. ThinkStrategy Capital and Chetan Kapur wrote off their fund investment and a very considerable creditor claim towards the fund for the major benefit of investors.

Continue at (http://investigativecoverage.com/investigativereport-on-thinkstrategy-and-chetan-kapur/)

Cases: SEC v. ThinkStrategy Capital Mgmt. LLC et al., 11CV8094, 17-691CV, 12CR00535, US District Court, Southern District of New York

SOURCE: Investigative Coverage

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Investigative Coverage
73 Watling Street
London EC4M 9BJ
Shalene@investigativecoverage.com

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