IssuerAnnouncementDetailsV2Portlet
ActionsCorrective Announcement from the fund manager of Alinma Retail REIT Fund Regarding the Addendum announcement related the occurrence of a specific event of Alinma Retail REIT.
Element List | Explanation |
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Introduction | A corrective announcement for Alinma Investment company announcement published on 27/04/1446H, corresponding to 30/10/2024G. the fund manager wishes to clarify: |
Date of the Previous Announcement | 2024-10-30 Corresponding to 1446-04-27 |
Hyperlink to the Previous Announcement | Click Here |
The Misstatement in the Previous Announcement | 1- Missing some information in the “Additional Information” item in the Arabic Announcement |
The Correction of the Misstatement | We are pleased to announce the completion of the transfer of ownership of Al Makan Mall in Riyadh in exchange for the transfer of ownership of office buildings in the Al-Yasmeen district of Riyadh (the 'new property'). The transaction resulted in a cash amount owed to the fund of SAR 25 million, representing the difference between the price of Al Makan Mall in Riyadh and the price of the new property (SAR 368 million). It is worth noting that the new property is leased to a government entity for a period of three years, and the fund has received the rent for the first year. Additionally, the fund has received an amount of SAR 20.15 million, representing compensations, part of which relates to the grace period granted to the tenant of the new property, that ends in mid-January 2025. The fund bore the Real Estate Transaction Tax “RETT” for the new property, while the other party bore the Real Estate Transaction Tax “RETT” for Al Makan Mall in Riyadh. |
The Resulted Impact From The Misstatement | There is no impact. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.