SWICORP: Alinma Investment to Take over Management of “SWICORP Wabel REIT” fund

SWICORP Company announced on Wednesday it received a letter on 14/11/2021 from Alinma Investment Company expressing its approval to be appointed as an alternative manager for the Swicorp Wabel REIT Fund and to start the regulatory procedures.

It should be noted that this approval is considered effective only after fulfilling a number of regulatory requirements.

This came as an addendum announcement for Swicorp’s announcement on 16/09/2021 regarding the results of the meeting of unitholders of the Swicorp Wabel REIT Fund (the “Fund”) held on 15/09/2021G, which it was approved to submit a request to the Capital Market Authority to remove the Fund manager and stop current fund manager from entering into any new investments or obtaining financing until the appointment of an alternative fund manager.

“Fund manager can’t determine the impact of this event and the fund manager will announce any relevant developments in due course.” The company said.