The Cyprus Securities and Exchange Commission (CySEC) announces that it has decided to withdraw the authorization of Corinth Fund Management Ltd as an Alternative Investment Fund Manager (AIFM) pursuant to Section 12(2)(a) of the Alternative Investment Fund Managers Act 2013, No. AIFM48/56/2013.

CySEC took the above decision because Corinth Fund Management Ltd no longer met the conditions for the grant of authorization and the entity breached section 6(2)(a) of the Alternative Investment Fund Management Bodies Act, in particular:

(a) Article 8(2)(b) of the Act, regarding the obligation to have sufficient initial capital and sufficient own funds, namely EUR 125,000;

(b) Section 8(2)(c) of the Act, concerning the duty to have at least two persons determine the conduct of business.