Stimulus now a Special Purpose Vehicle
Private equity firm, Stimulus Investments earlier this month informed the market and holders of listed preference shares in Stimulus Investments Limited of its successful registration as a Special Purpose Vehicle (SPV).
Stimulus was notified by the Namibia Financial Institutions Supervisory Authority in a letter dated 6 February , that its application to be registered as a Special Purpose Vehicle (SPV) in terms of Regulation 29(11) under the Pension Funds Act, 1956, was successful and that it has been registered as such.
Earlier on, Stimulus Private Equity, the appointed manager of Stimulus Investments Limited, had previously been approved as an Unlisted Investments Manager in terms of the same Regulation.
The SPV is usually a subsidiary company with an asset/liability structure and legal status that makes its obligations secure even if the parent company goes bankrupt. Meanwhile last year was another successful year for Stimulus’s portfolio of investments having grown by 18.27% in the year ended February 28, 2014.