iv.
Staggered Redemption & Suspension If on any Dealing Day, the volume of redemptions from any Fund is 10% or more of the issued Shares in such Fund then the Directors in their discretion, may limit redemptions on such date to 10% of the net asset value of the Fund and all redemptions which would have had a Redemption Record Date on such Dealing date shall be reduced on a pro rata basis so that the aggregate redemption does not exceed 10% or such other higher percentage as maybe determined by the Directors. In such a case, the unsatisfied redemptions shall be carried forward to the next Dealing Date and shall have priority for redemption over redemption requests received subsequently. Redemption of Shares in a Fund may be temporarily suspended during any period of market disruption or other exceptional circumstances which makes it impossible or impractical to determine the value of a substantial portion of the assets of the relevant Fund. (See Part 8 for additional details). Notice of any suspension will be promptly published on the JN Mutual Funds website (www.jnfunds.com); given in writing to the FSC and published in the daily newspaper in circulation in Jamaica.
F.
Transfer of Shares Shareholders are entitled to transfer Shares to another person provided that the transferor shall:(i) make a request in such form as the Manager may from time to time prescribe; (ii) comply with any transfer directions given by the Manager, the Custodian or the Registrar and Transfer Agent; (iii) pay any fees, imposts, duties or taxes associated with such transfer. Notwithstanding that an Investor has fulfilled the foregoing conditions, the Manager shall not be obliged to effect any transfer if as a result of the transfer either the transferor or the transferee will have a shareholding which values less than the Minimum Holding stipulated by the relevant Fund (See Part 6 for Minimum Holding in each Fund). A corporate body may be registered as a Shareholder or as a joint Shareholder. When encashing or redeeming Shares, the corporate body shall on all documents include its seal and signatures of persons duly authorised to bind the company in respect of the encashment or redemption of Shares. The Manager shall upon transferring Shares inform the Share Registrar of such transfers and the Share Registrar shall update the corresponding Register. The Manager shall provide the Share Registrar with such evidence as the Share Registrar may require to prove title of the transferor or his right to transfer Shares.
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