Oberon Investments Limited

Limits on what they may do

• Restriction on new wealth management clients, and assets restrictions

  1. The Firm, must not, without the prior written consent of the Authority on board any new wealth management clients. 2. The Firm, must not, without the prior written consent of the Authority, initiate or complete any new acquisitions, mergers, or purchases of businesses or client books. 3. The Firm, must not, without the prior written consent of the Authority, onboard, certify, or engage any new Investment Managers, whether directly or through associated entities. 4. The Firm must not, without the prior written consent of the Authority, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets (whether in the United Kingdom or elsewhere), whether held by the Firm as at the date of the imposition of the Requirements or acquired thereafter. 5. The Firm may continue dealing with or disposing of any of its own assets in the ordinary and proper course of business provided that the dealing or disposal is of a reoccurring nature that has previously been incurred (such as rent, insurance) or any new sum or value of such dealings or disposals, whether as a single transaction or a combination of related transactions, does not exceed £15,000. 6. For the avoidance of doubt, for the purposes of sub-paragraph (5) above, the following would be in the ordinary and proper course of business: a. Any fees incurred or paid in exchange for legal or professional advisory services provided to the Firm; or b. Any salaries of the Firm’s staff, including to its directors, contractors, or any other employees, where such salaries have been agreed prior to the imposition of the Requirements; c. Any liabilities incurred prior to, but not paid by, today’s date. 7. For the avoidance of doubt, for the purposes of sub-paragraph (6) above, the following would not be in the ordinary and proper course of business: a. The making of any distribution to the Firm’s shareholders whether by way of capital distribution or dividends; b. Subject to sub-paragraph (6)(b) above, any payment to the Firm’s shareholders, directors, officers, employees, any connected entities, or persons; c. The making of any gift or loan by the Firm to any party; or the entry into any financial reconstruction, sale of any part of the Firm (whether share or asset based) or reorganisation. 8. Sub-paragraphs (4) to (7) constitute an assets requirement within the meaning of section 55P(4)(a) of the Act.