From: Karyna Shuliak Sent: Monday, April 1, 2019 4:51 PM To: Marc.Kensington Cc: Mark Lloyd; Alex Peto Subject: Re: Bin Ennakhil Dear =arc, I sincerely appreciate your kind =esponse. 1. The authorities in Rabat told me the =ame thing and said they would reserve the right to charge me the =apital gains as well as the transfer tax. They said that the vendor is =rying to avoid tax and as it was I that was helping him I should pay =hat he owes. They said that many purchases happen as you suggest but =ot of such a substantial property. 2 The directors do not own the co the shareholder does, =o a change in directors is meaningless. 3. AML can be done at the last moment not the first. That is =illy. I have bought other properties and am intimately familiar with =he regulations. Your vendor transferred shares from a BVI co to a =tiftung with no paperwork shown to us. The values were obviously =ncorrect. I don't know what the cost basis of the house was so it was =ifficult to gauge capital gains on profits. I could buy the property =nd loan the owner the balance on day one to be repaid over four years =s the government allows. Thanks for =ou kindness. Sincerely, Karyna On Apr 1, 2019, at 5:18 AM, =arc.Kensington < mailto wrote: <=pan lang="EN-US" class="">Dear Karyna <=pan style="font-size:llpt" class="">Please read this but my goal is not to change your decision. I hate to leave a sale process with =uch a bad feeling of the potential buyer. You are an extraordinary wise young =oman. I could be your grandfather and the owner is ten years older. This might =ave had an effect on our discussions which started about 6 weeks ago. I flew numerous times to Italy to negotiate different =oints. Agreeing the price reduction from 29 (with an additional building permit for =ospitality, still pending) to 23 (for a very quick deal). <=pan style="font-size:llpt" class="">Following, the vendors full point of view <=pan style="font-size:11pt" class="">The pro