Riyad REIT Fund — Capital/Financing Update 2017

May 22, 2017

Riyad REIT Announces Board of Directors decisions on Acquiring properties

4330 · 22/05/2017 09:35:39 · Announcement #47146 · View on Saudi Exchange

Riyad REIT Announces Board of Directors decisions on Acquiring properties

4330

RIYAD REIT

-2.71 %

1438/08/26     22/05/2017 09:35:39

Riyad REIT Announces the decision of its Board of directors meeting held on 21st of May 2017, as follows:

First: Approval of the acquisition of the properties previously announced on Tadawul website on 09/03/2017, as follows:

-Kempinski Riyadh Hotel Complex, which includes a Five star Hotel, Ballroom, Business center, Spa, six restaurants, Residential Apartments and Retail outlets.

-The Residence, Located in Hiteen district in Riyadh. It includes High-end luxury villa hotel with Health club, Restaurants, and Executive Offices.

-Omnia Center, located in Rawdah district in Jeddah. It includes Offices, Retail stores and Residential Apartments.

Second: Recommendation to increase the Fund's capital by 1 Billion and Fifty Millions SAR to finance above acquisitions through offering a combination of rights issue and In-kind shares after obtaining the regulatory approvals. The rights issue is limited to the shareholders who are registered in Securities Depository Center Company on the end of next trading session from the extraordinary general assembly day, and the In-kind contribution is limited to property owners. Submission of the file for the capital increase to the Capital Market Authority will be announced later.

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.