An addendum announcement for Swicorp’s announcement on Tadawul website on 17/11/2021 AD, regarding the letter it received from Alinma Investment Company declaring its approval of appointing it as an alternative fund manager for the Swicorp Wabel REIT Fund and to start the regulatory procedures.
Swicorp announces that it has received a notification from the CMA (“the Authority”) on 30/11/2021 AD about the issuance of the Authority’s Board’s decision to dismiss Swicorp from managing the Swicorp Wabel REIT Fund that has been publicly offered, and to appoint Alinma Investment Company as an alternative fund manager for the fund, based on paragraph (a) from Article 16 of the Real Estate Investment Funds Regulations. It should be noted that the approval of the Authority’s Board was issued based on the decision of the unit holders in their meeting held on 15/09/2021 AD. Swicorp company would like to emphasize that’s it’s going to fully cooperate in order to help facilitate a smooth transfer of responsibilities to Alinma Investment Company within the first (60) business days from the date of appointing it as the alternative fund manager.
It can’t determine the impact of this event and it will be announced for any relevant developments in due course.