Musharaka REIT Fund — Capital/Financing Update 2022

Aug 1, 2022

Musharaka Capital Company Announces a Material Development to Musharaka REIT Fund

4335 · 01/08/2022 09:31:41 · Announcement #69452 · View on Saudi Exchange

Musharaka Capital Company Announces a Material Development to Musharaka REIT Fund

4335

MUSHARAKA REIT

-0.49 %

1444/01/03     01/08/2022 09:31:41

Element List	Explanation
Description of the Event	Musharaka Capital Company, as the fund manager of Musharaka REIT Fund, announces that the Fund's bank facilities have been renewed with the fixed part of the financing cost being reduced by 24% . Additionally, the margin of coverage and the fees for financing studies have also been reduced to the benefit of the unitholders. This comes within the framework of the fund manager's continuous endeavor to reduce costs in order to improve the fund's performance and its readiness to benefit from the distinguished opportunities available in the real estate market.
The Impact Caused by the Event	Musharaka Capital expects that the reduction in the financing cost will have a positive impact on the fund starting from the third quarter of 2022.

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.