Approved increase of the assets of the fund “SEDCO Capital REIT” to carry out new acquisitions

The Saudi Capital Market Authority has announced the issuance of its decision, including the approval of the request submitted by the Saudi Economic and Development Securities Company (fund manager) to increase the total value of the assets (SEDCO Capital REIT Fund) by offering additional shares to acquire new real estate assets, having satisfied the fund manager’s request According to the Real Estate Investment Fund Regulation.

According to the authority statement on the site web of the financial market “Tadawul” today, Tuesday, the fund manager will publish the supplementary appendix to the terms and conditions of the fund on the website web of the fund manager and on the website web market, provided that information relating to the increase in the total value of the fund’s assets through the offering of units will be disclosed Further units and their objectives sufficiently before the date of the unit-holders’ meeting, which will be determined and announced in followed by the fund manager, to allow holders to vote on the decision to increase the overall value of the fund’s assets by offering additional shares.

The supplementary appendix to the terms and conditions of the Fund contains the information and data that unit owners need to know before making the decision to vote on the decision to increase the total value of the assets of the Fund by offering additional units, in particular information relating to real estate assets to be acquired and risk factors.

In its statement, the Authority warned that taking the voting decision without reviewing the terms and conditions of the fund and the supplementary annexes to the terms and conditions of the fund and studying their content, can involve high risks, explaining that the owners of the shares should review the terms and conditions of the fund and its supplementary annexes and study them carefully to arrive at the appropriate decision when voting for the decision to increase the total value of the fund’s assets by offering additional shares, and if so in where it is not possible to understand the content of the terms and conditions of the fund and their supplementary appendices, it is preferable to consult an authorized financial advisor.

The authority indicated that its approval of the fund manager’s request to increase the total value of the assets of (SEDCO Capital REIT Fund) by offering additional shares, should not be seen as an approval of the feasibility of increasing the total value of the fund. assets by offering additional shares, indicating that the decision of the authority Accepting to increase the total value of the fund’s assets by offering additional shares, means that the legal requirements have been complied with according to the Capital Market Act and its implementing regulations.

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