Jadwa Investment Company Announces the Occurrence of Specific Event to Jadwa REIT Saudi Fund
|Introduction||Jadwa Investment Company (“Fund Manager”), in its capacity as the manager of Jadwa REIT Saudi Fund (the “Fund”), announces the approval of the Fund’s Board of Directors on 19/07/1442H corresponding to 03/03/2021G, of a suggested change in the Fund’s total asset value which the Fund Manager intends to submit to the Capital Market Authority and the Saudi Stock Exchange Company "Tadawul" for approval for the acquisition of a new targeted real estate asset (retail and offices complex) by the Fund.|
|Description of the Event||The targeted acquisition comprises of a new real estate asset in the city of Riyadh, which will be announced upon signing the Sale and Purchase Agreement for the asset. |
The total value of the Fund’s assets will be increased by SAR 370 million through accepting in-kind and cash subscriptions, after obtaining the necessary approvals for the acquisition of the targeted new real estate asset.
|The Impact Caused by the Event||Accordingly, the Fund Manager expects that the impact resulting from this development will be positive in general on the performance and results of the Fund.|
|Additional Information||The Fund Manager will disclose any developments in this regard, noting that the increase in the Fund’s total assets value is subject to the approval of the Capital Market Authority and the Saudi Stock Exchange Company "Tadawul” as well as the approval of the Fund's unitholders.|
The Capital Market Authority and the Saudi Stock 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.