SEDCO Capital: CMA Approves Supplementary Annex Terms to Increase Fund Assets to SR 702 mln

Saudi Economic and Development Securities Company (SEDCO Capital) Announces on Wednesday that the Capital Market Authority approved the supplementary annex to the terms and conditions pertaining to increasing the total value of the Fund’s assets by seven hundred and one million, nine hundred and fifty-one thousand, seven hundred and fifty Saudi Riyals (SAR 701,951,750), in order to acquire a real estate portfolio of 8 income-generating properties located across Riyadh and the Eastern Province according to the following:

Almanahij Schools – an educational building in Riyadh

Dar Al Baraa Schools – an educational building in Riyadh

Amjad Qortuba – an educational building in Riyadh

AlOlaya Schools – an educational building in Riyadh

Alhamra Plaza – a commercial center in Riyadh

Irqa Plaza – a commercial center in Riyadh

Extra – a commercial center in Dammam

Hyper Panda – a commercial center in Dammam

The impact: upon completion, the Fund Manager believes that this would positively contribute to the Fund’s overall performance and distributions.

Later on, the Fund Manager will announce any developments in this regard, including inviting the unitholders to vote on increasing the total value of the Fund’s assets as well as the supplementary annex of the terms and conditions of the Fund.