KexCoin (KEX) ICO

updated 01 January 2018

A Blockchain Enabled Property Project

Whitepaper
Token sale info
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Status: ended
Start: 15 September 2017
End: 15 October 2017
Cap: 0 ETH
Goal: 0 ETH
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KexCoin

About KexCoin

KexCoin is supported by an existing infrastructure, an award winning UK student property company, with over £120m in assets and 39 year history in the student market (see www.kexgillgroup.com). In short, our team, is experienced, long standing with leading figures in the student accommodation industry.

Our planned purchases will make use of infrastructure that is already in place and available immediately. This means that there is little or no development time or cost to this infrastructure. What we are offering has never been offered before and we are excited about the opportunity to pioneer this project. KexCoin, set up as a UK registered company, makes us trustworthy, transparent and here for the long-term. Very few other ICOs can offer such security.

This is an exciting and lucrative opportunity for those that join the movement. Our investment formula includes strict benchmarking parameters to be met in all investments. Gross yields on the properties we purchase are expected to be around 8-15%.

The Shareholders are bound by the Articles of Association of this UK domiciled company and need to act in accordance with them in conjunction with a robust corporate governance structure. This will be a well-run corporate entity having full disclosure. We are acting in the interests of the participants with a view to driving an increase in value of the coinage.

The Articles of Association include:

  1. There is an absolute prohibition on the declaration of dividends. The value for the Shareholders is within our initial coin holding and we are quite clear that funds within the Company should be ring-fenced for the purchase of student investment property. These properties to be  held until 2047.
  2. There is a prohibition put on the transfer of Shares without the consent of all other Shareholders. This does not and cannot preclude the sale of all of the Share capital of the Company if all Shareholders  agree, but it does mitigate the possibility of that happening to the best extent that we can.
  3. The provisions in the Articles of Association are entrenched. Entrenchment means that a provision cannot simply be amended by the passing of a Special Resolution of the Company, which requires 75% of the Shareholders to approve it, but by all of the Shareholders.
  4. The Directors cannot authorise the purchase of an asset without the approval of the Investment Committee which will include an independent Chartered Surveyor with appropriate experience of the type of asset being purchased.

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