Announcements
Jadwa investment announcement on the invitation to attend the meeting of Jadwa REIT Al Haramain Fund’s Unit holders (first meeting)
Thu, 01 October 2020
Introduction
Jadwa investment ("fund manager") invites Jadwa REIT Al Haramain ("the fund") unitholders to attend the unit holders meeting according to the following details:
Meeting place
Through "Tadawulaty" services website on the following link
<a href="https://login.tadawulaty.com.sa/ir">https://login.tadawulaty.com.sa/ir<…;
Meeting time
At 6:30 pm on Thursday, 28 Safar 1442 AH, corresponding to 15 October 2020 AD.
Meeting agenda
Voting on the suggested fundamental changes on the fund’s investment goals:
Agreeing on adjusting the percentage of asset allocation in Makkah and Madina to be 60% at least of total fund asset value, instead of at least 100% of the total asset value.
Agreeing on a geographical expansion for the fund’s investments in addition to Makkah and Madina in order to include the rest of the cities in the Kingdom, with a percentage that does not exceed 40% of fund total asset value.
Agreeing on allowing the fund to invest in real estate assets outside the Kingdom with a percentage that does not exceed 25% of fund total asset value.
Agreeing on updating the fund’s other investments and maintaining allocation the same, with a percentage that does not exceed 25% of fund total asset value, and adding the following:
Buy-back and Leasehold agreements
Cash and money market funds.
Units in Real Estate investment funds, whether it was private or publicly listed, and whether it was managed by the fund manager or any fund manager, as long as it is Shariah compliant and CMA regulated fund.
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 Sunday, 24 Safar 1442 AH, corresponding to October 11, 2020 AD, until 6:30 PM Thursday, on 28 Safar 1442 AH, corresponding to October 15, 2020 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:
<a href="http://www.tadawulaty.com.sa/">www.tadawulaty.com.sa</a>
In light of Jadwa Investment’s ("Fund manager") fiduciary responsibilities as the fund manager for Jadwa REIT Haramain ("The Fund") in managing the fund’s assets for the unit holders’ interest, and the provision of constant development for investment strategies followed by the fund manager according to the changes and fluctuations of the market that the fund invests in which aligns the fund’s goals, 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 increase the diversification of assets, find different competitive investment opportunities, support dividend distribution in addition to decrease investment risks, furthermore, the proposed changes on the fund’s investment strategy will increase the flexibility of diversifying the geographical constraints of the fund, and benefit from various real estate investment opportunities in a wider geographical range.
The proposed changes in addition to terms and conditions can be viewed in the attachments or the following links:
<a href="https://reit.jadwa.com/uploads/attachments/Fundamental-Changes_HREIT_01…;
<a href="https://reit.jadwa.com/uploads/attachments/HREIT-TC_Signed_01102020.pdf…;
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.
Knowing that the right to register to attend the meeting of unitholders ends at the time of the assembly, 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: (966112791111) or e-mail: <a href="mailto:alharamain-reit@jadwa.com">alharamain-reit@jadwa.com</a>