The Blueprint

A holding prepared through The Blueprint carries a report on its position against the international standard, with the evidence behind every finding. The report answers the questions an international investor asks of any holding:

• Who takes the decisions in the company?
• Can the shares be transferred, and with which approvals?
• How do the fund's rules apply to the holding?
• Can the figures be verified?
• How are conflicts of interest and reporting to investors managed?

Assess (READ). Saint Clair's Practice assesses each holding and each fund you select against the international standard. The assessment report states the evidence for every finding. Korean counsel examines the same position under Korean law and confirms the assessment's legal findings.

Build (BUILD). You and the Practice draw up a written plan together. The plan sets out the work, names who carries out each part, and states the test that shows each part is complete. The Practice leads the work with your team, your auditors and your lawyers. Korean counsel carries out the Korean legal work: consents, amendments to agreements and fund terms, and filings.

Hold (HOLD). The Practice keeps each prepared holding at the standard for as long as you choose. Together with you, the Practice also answers investors' questions on the holding.

Shareholder consents follow the order that the shareholders' agreement sets, and the accounts are restated on a basis that an international investor accepts. A fund's term and a buyer's due diligence do not wait for that work. Start the preparation while the fund still has years to run, so that each holding is ready when the term or the buyer arrives.

• For each holding, you hold its position against the international standard, the evidence behind that position, and a route with the reasons for it. The route is to prepare the holding for a buyer, to offer it as it stands, to keep it, or to close it.
• For each fund, you decide on the basis of that evidence. You can extend the fund with a written plan, sell holdings singly or together, move them into a continuation fund, or wind the fund up.
• For your firm, you hold a dated plan that sets the order of work across your funds. You also hold a track record that your next investors can verify.

A holding at the international standard can take each route to an exit open to it:

• An international buyer can examine the holding, price it and make an offer.
• A Korean buyer can buy the holding on the same international terms.
• A continuation fund built on Saint Clair's Continuity Vehicle can buy the holding, alone or with other holdings. You keep the holding beyond the fund's term, and your firm manages the new fund.
• An extension with a written plan tells your investors what the added years are for.

Because the holding stays at the standard, each of these routes remains open to it in the future. You decide every sale.