SICO Saudi REIT unit holders discuss proposed changes to fund investment objectives

SICO Capital Company (“fund manager”) said on Tuesday it invites SICO Saudi REIT Fund (“the fund”) unit holders to attend the unit holders meeting which is due to be held in  06-01-2022 through “Tadawulaty” services website on the following link https://login.tadawulaty.com.sa/ir

Agenda:

Voting on the suggested fundamental changes on the fund’s investment goals as follow:

Agreeing on adjusting the fund strategy to invest minimum 75% of the total fund assets value as the latest financials in income generating developed real estates in The Kingdom of Saudi Arabia, instead of invest in the Holy Makkah & Almadina cities with minimum of 55% and outside Makkah & Almadina with maximum of 45% of the fund total assets as the latest financials.

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, corresponding 02 January 2022, until 7:00 PM, corresponding 06 January 2022.

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 SICO Capital Company (“Fund manager”) of SICO Saudi REIT, responsibility towards managing the Funds’ assets in the best interest of the unit holders, the Fund Manager believes it is important to have constant developments of the Fund’s investment strategies accordingly with the changes occurring in the investment universe. The Fund Manager invites the unit holders to read the changes proposed in this announcement. The fund manager believes that these changes shall enhance the return and performance of the Fund, increase the diversification of assets, find different competitive investment opportunities, and support dividend distribution in addition to decrease investment risks. Furthermore, the proposed changes on the fund’s investment strategy will increase the Fund Manager the flexibility and allow the Fund to benefit from various real estate investment opportunities in a wider geographical range.