Professional Investor Notice

We refer to the account opened or to be opened with Altive Limited (“Altive”, “We”, “Us”).

The Securities and Futures Commission (“SFC”), Monetary Authority of Singapore (“MAS”) and Australian Securities and Investments Commission (“ASIC”) have imposed certain rules and restrictions in dealing with investors in Hong Kong, Singapore and Australia respectively. Generally, an investor will be covered by certain requirements and protections under the Securities and Futures Ordinance (CAP 571D) (“SFO”), Corporations Act 2001 of Australia (“Corporations Act”) and Securities and Futures Act of Singapore (“SFA”) which, however, will be relaxed if a customer is categorized as a Professional Investor, Wholesale Client or Qualified Investor as defined by the SFO, Corporations Act and SFA respectively.

For the purposes of this Notice, the term “Professional Investor” shall carry the meaning including “Professional Investor” as defined under the SFO, “Qualified Investor” as defined under the SFA, and “Wholesale Clients” as defined under the Corporations Act.

Hong Kong

You are regarded as a Professional Investor in Hong Kong if you are:-

  1. an individual having a portfolio of liquid assets (including but not limited to cash, deposits, securities) more than HKD 8 million at the date of registration. The portfolio provided may be in the form of: -
  1. a portfolio of your own account;
  2. a portfolio on a joint account with the your spouse or child(ren);
  3. your share of a portfolio on a joint account with one or more persons other than the your spouse or child(ren) where a written agreement is provided;
  4. a portfolio of a corporation which, on the registration date, has its principal business the holding of investments and is wholly owned by the individual;
  1. a trust corporation having been entrusted under one or more trusts with total assets of not less than HKD 40 million at the date of registration;
  2. a corporation having a portfolio of not less than HKD 8 million or total assets of not less than HKD 40 million at the relevant date;
  3. a corporation which, at the date of registration, has as its principal business the holding of investments and is wholly owned by any one or more of the persons falling within the definition of professional investors mentioned above, or wholly owns a corporation referred to above; or
  4. a partnership having a portfolio of not less than HKD 8 million or total asset of not less than HKD 40 million at the date of registration.

Australia

You are qualified as a Wholesale Client in Australia if you are:-

  1. a person purchasing a financial product, or a financial service related to a financial product, where the value of the product is above the prescribed threshold (currently set by the Corporations Regulations at AUD 500,000);
  2. a person with certified net assets of at least AUD 2.5 million or a person who had a gross income for each of the past two financial years of at least AUD 250,000; or
  3. a ‘professional investor’. This category includes AFS licensees, listed entities, banks and friendly societies, and other entities that may be presumed to have the expertise or access to professional advice to justify their being treated as wholesale.

Singapore

You are qualified as a Qualified Investor if you are either an Accredited Investor or an Institution Investor.

In order to qualify as an Accredited Investor, you have to be:

  1. an individual with net personal assets exceeding SGD 2 million in value, of which the net value of the individual's primary place of residence can only contribute up to SGD 1 million;
  2. an individual with an income of not less than SGD 300,000 in the past 12 months;
  3. an individual with net financial assets (including but not limited to any deposit in a financial institution, capital market product, life policy) exceeding SGD 1 million in value;
  4. a corporation with net assets exceeding SGD 10 million in value in their most recent balance sheet or their balance-sheet certified by the corporation as giving a true and fair view of its state of affairs as of the date of the balance-sheet.

The stated requirements above are subject to change, and we may also offer you investment opportunities if you are trustee of such trust as MAS may prescribe, when acting in that capacity; or such other person as MAS may prescribe.

We may require additional information from you if the need arises. If your portfolio does hold assets that are not in the required type of currency under the respective jurisdiction, we will assess its equivalent value at the date of registration.

We may also be required to verify your position as a Professional Investor by requesting any one or more of the following documents, including but not limited to: -

  1. Your most recent audited financial statement prepared within 16 months before the registration date in respect of your individual portfolio or corporation;
  2. Any one or more of the following documents issued or submitted within 12 months before the registration date:
  1. a statement of account or a certificate issued by a bank/custodian;
  2. a certificate issued by an auditor or a certified public accountant;
  3. a public filing submitted by or on behalf of your corporation;

As a result of this Professional Investor categorization, we may offer you certain investment opportunities which are only available to a Professional Investor. However, we are not required to fulfill certain requirements under the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission and certain other regulations implemented in Hong Kong.

Altive will not be required to:-

(a) provide you with information about our business or the identity and status of our employees or others acting on our behalf with whom you may have contact.

(b) confirm to you promptly the essential features of a transaction after effecting a transaction for you.

(c) provide you with any contract notes, statements of account or receipts under the Hong Kong Securities and Futures (Contract Notes, Statements of Account and Receipts) Rules where such would otherwise be required, unless you instruct us to do so.

(d) if Altive deal through the Stock Exchange of Hong Kong in securities admitted to trading on the Exchange under the NASDAQ – Anex Pilot Program, Altive is not required to provide you with documentation about the Program.

Although we have no regulatory duty to provide you with the above-mentioned information (a) to (d), we may continue to send you the contract notes and statements of account until further notice, and to provide you with other information upon request to the best of our capabilities.

If you have any doubt about any aspect of this notice or have other questions, please do not hesitate to contact us by the following means: -

(I) Email at privacy@altivecapital.com;

(II) Writing using this address:

Altive Head of Legal & Compliance

Unit 4612-13, 46/F, The Center,

99 Queen's Road Central,

Central, Hong Kong.

You have the right to withdraw from being treated as a Professional Investor, Qualified Investor or Wholesale Client at any time in respect of any investment products or markets or any part thereof by giving written notice to us not less than fourteen (14) business days prior to the proposed effective date of the withdrawal. Please inform us in writing immediately if you find yourself no longer within the definition of Professional Investor, Qualified Investor or Wholesale Client within the meaning of Section 3 of the Securities and Futures (Professional Investor) Rules, Section 761G of the Corporations Act of Australia and Section 4A of the SFA of Singapore respectively.

Please note that you will be deemed to have confirmed, acknowledged and agreed to these terms by your continuing operation of your account(s) with us after the date of this letter and our acceptance of your continuing operation of your account(s) and your placing of orders with us and/ or subscribing in any of funds managed by or advised by us, hereafter shall be subject to and on these terms.

This notice and any dispute arising from this notice shall be interpreted and governed by the laws of Hong Kong Special Administrative Region of the People's Republic of China (“Hong Kong”).

THIS PROFESSIONAL INVESTOR NOTICE WAS LAST UPDATED IN SEPTEMBER 2021.

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