CHEMVEST

Empowering Chemists to Bond through Group Investment DRAFT CONSTITUTION What is Chemvest? Chemvest is an investment group formed by Chemistry staff (University of Nairobi). What is Chemvest motivated by? The group was formed based on the understanding that when ideas and resources are pooled together, a group can muster the financial leverage to pursue investment options that may appear out of reach to a single individual. The income arising from these group investments are to be shared equitably among the constituent members. When was Chemvest formed? Chemvest was formed on 23rd July 2009 through a meeting at Chiromo Club, University of Nairobi. Meetings The investment group meetings are to be held on a monthly basis on the first Friday of each month at 1 pm at Chiromo club. The investment group activities will be managed according to the resolutions of the monthly meetings. Group Management The administrative affairs of the investment group will be through a management group of four members comprising the Chairman, Secretary, Treasurer and another ordinary member (How about calling this the organizing secretary?). Election of Office Bearers Who is eligible for membership of Chemvest? Membership of Chemvest is open to staff of the Department of Chemistry, University of Nairobi. Membership is assumed on purchasing shares in the group through monthly member contributions. 1

Group Account The Chemvest group operates a current account at the Kenyatta Avenue branch of K-Rep bank located in the Standard building opposite ICEA building. The account details are: Bank Branch Account Name Account Number Group Account Operations The four officials of the management team are the authorized signatories to the group current account at K-Rep bank. Any two of these officials can endorse cheques or sanction withdrawals from the group account. This authority must however be preceded by resolutions of the investment group. Share Purchase and Asset Management Each member is to contribute a minimum of KShs 5000 per month (The equivalent of 1 share). A member is, however, free to contribute in multiples of KShs 5000 and be assigned the equivalent number of shares commensurate with the total contribution made. Investment Targets The group contributions will be invested prudently in various assets. These include, but are not limited to: (a) Setting up a quality school (b) Real estate investments (c) Investing in Stock exchange or treasury bonds (d) Investing in Mutual trust / Unit trusts (e) Engaging in Paint, Adhesive or Fertilizer manufacture (f) Supply of chemicals to high schools (g) Dealing with chemicals that can be used in detergent manufacture Signed by _______________________ Date_________________ (Secretary) Approved for issue by_______________________ Date_________________ (Chairman) K-Rep bank Kenyatta Avenue Albert, Godfrey, Martin & Solomon 003040002635