ALKHABEER GROWTH AND INCOME to Repurchase up to 20% of Units

ALKHABEER GROWTH AND INCOME announced on Sunday that its Fund Board of Directors has approved, by means of circulation, the Fund Manager’s recommendations. These will be raised to the unitholders’ meeting for approval:

1. Approve the buyback of Fund units with the purpose of cancelation of up to 20% of the Fund’s initial outstanding units, at a price not exceeding the net asset value per unit, subject to compliance with the Capital Market Authority (CMA) rules and regulations and the Fund’s Terms & Conditions.
2. Approve the Dividend Distribution Policy, which will be presented to the unitholders at a meeting to be announced later, subject to CMA approval.
3. Approve the Fund Manager’s right to appoint a Market Maker for the Fund, in compliance with CMA rules and regulations, subject to CMA approval.
4. Approve the amendment of the Fund’s Terms & Conditions, where applicable, to include the amendments referred to in points 2 and 3 of this announcement.