AL Maather REIT Fund — Capital/Financing Update 2021

Oct 13, 2021

OSOOL & BAKHEET INVESTMENT COMPANY Announces the Occurrence of Specific Event to AL Maather REIT Fund

4334 · 13/10/2021 15:23:47 · Announcement #65139 · View on Saudi Exchange

OSOOL & BAKHEET INVESTMENT COMPANY Announces the Occurrence of Specific Event to AL Maather REIT Fund

4334

AL MAATHER REIT

-0.11 %

1443/03/07     13/10/2021 15:23:47

Element List	Explanation
Introduction	OSOOL & BAKHEET INVESTMENT COMPANY announces occurrence of a specific event to AL Maather REIT Fund
Description of the Event	OSOOL and Bakheet Investment Company, the manager of Al-Ma'ather REIT Fund, announces the signing of a non-binding memorandum of understanding for the purpose of acquiring the Burjeel Hospital building in the city of Sharjah in the United Arab Emirates. With buildup area of 16,758 sqm, With an area of 6,033 (six thousand and thirty-three square meters), the tenant of the property is VPS Healthcare (LLC) registered in Abu Dhabi, and the annual rental value is 8,000,000 (eight million Arab Emirate Dirhams), with an increase of AED 500,000 (Five hundred thousand dirhams) every five years for a rental period of 20 years, and the memorandum expires on 04/12/2021 AD, provided that due diligence procedures are completed during this period and the legal procedures are completed in preparation for the signing of a binding purchase agreement that will be announced at a later period.

The purchase value is 100,000,000 (One Hundred Million Arab Emirate Dirhams) and the purchase will be fully financed by the previous Banking facilities in the Fund. The Impact Caused by the Event The impact of this acquisition will reflect positively on the funds units’ owners and it will add diversity and net positive return as result from the differences between financing costs and rental income.

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.