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Swicorp Company Announces the Meeting of Unitholders’ Results of Swicorp Wabel REIT Fund

Swicorp Company announces the results of Swicorp Wabel REIT unitholders meeting that has been held at 6:00 pm on Wednesday, 08 Safar 1443 AH, corresponding to 15 September 2021 through Tadawulaty web services, according to the following details:

(1) Agreeing to proceed a request to the Capital Market Authority (CMA) to remove the Fund manager and stop current fund manager from entering into any new investments or obtaining financing until the appointment of an alternative fund manager.

b) Agreeing to remove the cap of 17.0% for operating expenses respectively, on the current property management agreement effective retroactively from January 1, 2020

(2) Agreeing to delegate the following names:

-Faisal Mohammed AlAbdulkarim.

-Mohammed Abdullah Al Nemer.

to find and negotiate with a replacement fund manager and resume the fund’s operations, provided that the finding and negotiating period must not exceed 60 calendar days from when the decision to appoint a party in charge of finding and negotiating is issued.