Alinma Retail REIT Fund — AGM Information 2021

Feb 21, 2021

Swicorp Company Announces an Invitation to Attend the Meeting of Unitholders ( First Meeting ) of Swicorp Wabel REIT Fund

4345 · 21/02/2021 16:04:36 · Announcement #61981 · View on Saudi Exchange

Swicorp Company Announces an Invitation to Attend the Meeting of Unitholders ( First Meeting ) of Swicorp Wabel REIT Fund

4345

ALINMA RETAIL REIT

-0.44 %

1442/07/09     21/02/2021 16:04:36

Element List	Explanation
Introduction	Swicorp Company (“Fund Manager”) invites Swicorp Wabel REIT (“the Fund”) unitholders to attend the unit holders meeting which will be held according to the following details:
Date of the Meeting	2021-03-10 Corresponding to 1442-07-26
Place of the Meeting	Through "Tadawulaty” services website on the following link https://login.tadawulaty.com.sa/ir
Time of the Meeting	18:00
Hyperlink of the Meeting Location	https://login.tadawulaty.com.sa/ir
Agenda	Voting on the suggested fundamental changes on the Fund’s Terms and conditions as follows:

1. Agreeing to add real estate brokerage fees to a maximum of 2.5% of any real estate investment acquired.

2. Removing the cap of 17.0% for operating expenses respectively, on the current property management agreement effective retroactively from January 1, 2020.

3. To allow property management fee to be a maximum of 10% of the total annual revenue of the real estate assets for managing, leasing, and collecting on behalf of the Fund.

4. Voting on updating the terms and conditions that reflected the above-mentioned changes and adding definitions and other clarifications for fees and fees calculation table (as detailed in the attached schedule).

The voting process will be executed electronically through the “Tadawulaty” services website voting that will be available for the registered unit holders, starting from 10 AM Saturday, 22 Rajab 1442 AH, corresponding to March 06, 2021 AD, until 6:30 PM Wednesday, on 26 Rajab 1442 AH, corresponding to March 10, 2021 AD.

We would also like to remind unit holders to register in the” Tadawulaty” service and update their contact information, as registration and voting will be available at the following link:

www.tadawulaty.com.sa

In light of Swicorp’s (“Fund manager”) fiduciary responsibilities as the Fund manager for Swicorp Wabel REIT (“The Fund”) in managing the fund’s assets in the best interest of the unit holders’, and the efforts for the continuous improvement in their operational performance, the Fund Manager invites the unit holders to read the changes proposed in this announcement in accordance with the CMA’s regulations of publicly listed funds. The Fund Manager believes that these changes shall allow the Fund to hire a competent property manager that can possibly lead to the increase in revenue, increase the diversification of revenue sources, possibly reduce operating costs and improve the overall performance of the real estate portfolio. These steps will support dividend distribution in addition to possibly decreasing risks in our portfolio.

Also, The Fund Manager believes that adding real estate brokerage fee will help for accessing to good opportunities in real estate sector which is the normal practice in the market.

The proposed changes in addition to terms and conditions can be viewed in the attachments or the following links:

http://swicorpwabelreit.com/en/swicorp-company-announces-an-invitation-to-attend-the-meeting-of-unitholders-first-meeting-of-swicorp-wabel-reit-fund/ Additional Information The Quorum required to conduct the meeting shall consist of unit holders holding together at least 25% in value of units, registered in the register of unitholders at the Securities Depository Center (depository center) at the end of the trading session preceding the meeting of unit owners.

Please be aware that the right to register to attend the meeting of unitholders ends at the time of the meeting, and the right to vote on the meeting's agenda for the attendees ends with the end of the meeting.

For inquiries related to the agenda, please do not hesitate to contact the representatives of the Fund Manager by phone number: (+966 11 211 0733) or e-mail: wabelreit@swicorp.com Attached Documents     

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.