Taleem REIT Fund — Capital/Financing Update 2017

Dec 28, 2017

Taleem REIT Fund announces that it has signed a MoU with Al Rajhi United for the acquisition of Real Estate.

4333 · 28/12/2017 09:41:12 · Announcement #49031 · View on Saudi Exchange

Taleem REIT Fund announces that it has signed a MoU with Al Rajhi United for the acquisition of Real Estate.

4333

TALEEM REIT

0.40 %

1439/04/10     28/12/2017 09:41:12

Taleem REIT Fund announces that on 26th December 2017 it has signed a MoU with Al Rajhi United to acquire an educational real state located in Al Nuzha district in Riyadh. The property is located in close proximity to Abi Bakr As Siddiq Road, King Abdullah Road and Hail Street with a total land area of 30000 sqm and a built up area of 48281 sqm. The fund will acquire the property by issuing 22.5 million new units of Taleem REIT Fund to the seller. The property is currently leased to Al Rowad International Schools for a period of 30 years ending in December 2041 (remaining contract life of 24 years) with an estimated remaining contract value of SAR 498.14 to 553.49 million. After completing due diligence, the fund manager will seek the approval of the fund board, unit holders at the unit holders meeting and the CMA to conclude the deal. The MOU is valid for 45 days and is extendable at mutual consent of both parties. Any change in the above will be duly announced.

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.