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Derayah REIT Fund announces an Addendum Announcement regarding the Announcement Published on January 20, 2025, Concerning the Lawsuit Filed by the Current Tenant of the Smart Tower Property Against Derayah REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Derayah REIT Fund announces an Addendum Announcement regarding the Announcement Published on January 20, 2025, Concerning the Lawsuit Filed by the Current Tenant of the Smart Tower Property Against Derayah REIT Fund |
| Date of the Previous Announcement | 2025-01-20 Corresponding to 1446-07-20 |
| Hyperlink to the Previous Announcement | Click Here |
| Change Details | Derayah Financial Company, in its capacity as the manager of Derayah REIT Fund, announces that it has received a notice from the Fund’s legal counsel, Naif bin Mohammed Al-Salem Law Firm, stating the following: A final and binding court ruling has been issued in favor of the Fund by the Fifteenth Civil Circuit of the Court of Appeals in the Riyadh region. The ruling upholds the initial judgment No. (4630667999) issued by the First Major Claims Circuit of the General Court in Riyadh, which dismissed the lawsuit filed against the Fund by the primary tenant of the Smart Tower property, Al Thimara Al Haditha for Operation and Maintenance Company (Commercial Registration No. 1010161292). The lawsuit sought to nullify the real estate purchase agreement dated August 7, 2017. |
| The Impact Caused by the Change | 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.
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