Value” means the total asset value of the Fund, as valued in accordance with the Fund Terms. Amount” means the target amount to be raised through the increase in the total asset value of the Fund.
A detailed statement of the real estate assets to be acquired
A schedule of the information on Additional Real Estate Assets
Target rental returns of the Property (target rental returns were calculated based on signed and valid rental contracts only, and no contract renewals were taken into account). Ownership of investors prior to the increase of the Fund's Total Asset Value as of Number of Units Value of Units. 5 (five) working days from obtaining approval from the CMA for increasing the Fund's Total Asset Value.
Copy of the Statute and Bylaw of the Fund Manager with the seal of the company. Failure to transfer title to any of the Additional Real Estate Assets to the Fund; or b. Costs are expected to reach a maximum of 0.05% of the total value of the fund's assets.
The total of these costs is expected to reach a maximum of 0.10% of the total value of the Fund's assets each year. 1% of the sale or purchase price for any property bought or sold by the Fund. The percentage of total fees and non-recurring expenses to the total value of the Fund's assets.
Previous and targeted rental proceeds for Additional Real Estate Assets, and its percentage from the Fund
Total and net targeted proceeds before and after increasing the Fund’s total assets value for 2023G
Valuation of the real estate assets to be acquired
The Fund Manager keeps the Exchange informed of the progress of the recovery measures. Investors can subscribe to the increase in the total asset value of the Fund, provided they have an active investment portfolio with a capital market institution. The Fund may be affected by increases in financing costs in the market in general.
It is paid once when buying or selling real estate. The Fund pays the Fund manager. In the event that the fund carries out real estate development activities, development fees will be disclosed to unitholders.
Private placement for the increase of the Fund’s total assets value
Funds total assets value before and after increase
Number of Units before and after the increase of the Fund’s Total Assets Value
17 The additional shares will be offered in accordance with the applicable procedures under the CMA Regulations and Instructions in addition to the Real Estate Investment Trusts Rules and the Listing Rules. The Additional Units will be offered at the Target Unit Price in the Second Additional Offering at a price to be determined at the average closing price for three (3) Business Days prior to the commencement of the Second Additional Offering, minus (10%). The additional shares are registered in the list of changes in the shareholders' net assets.
In addition to cash contributions, the fund manager has the right to obtain financing for the acquisition of additional real estate assets, in accordance with what is stated in paragraph b (6) in the detailed statement on the minimum and maximum limit of the total increase in the total value of the fund's assets below.
Disclosure of details of using the Fund’s offering proceeds
Obtaining the shareholders' approval 10 (ten) working days after obtaining the CMA approval of this supplementary annex and the increase in the fund's total asset value.
Detailed statement of the Fund Manager’s subscription value in the Fund during the Offering period
Detailed statement of the information of the Additional Real Estate Assets owners subscribing with in-kind
If the registration application form does not correspond to the attached transfer amount and the name of the subscriber, the Manager has the right to reject the registration request. Any unexpected increase in maintenance costs in the future may increase the level of the fund's costs and therefore the investor's share of the fees and costs.
Detailed statement of the total increase in the Fund Assets value
Timetable of the estimated periods of the Target Second Additional Offering
Allocation of additional units 15 (fifteen) working days from the end of the period of the second additional offer or the expiration of the extension of the period of the second additional offer (if any). Real estate assets 60 (sixty) working days from the end of the period of the second additional offer. If the offer of additional units is cancelled, all subscription amounts received will be redeemed to the investors together with any profits (if any) without any discount within a period not exceeding 5 (five) business days after the end of the period of the second additional offer.
Mechanism to be followed by the fund manager to accept subscriptions and distribute units among unit holders.
Mechanism to be followed by the Fund Manager to accept subscriptions and allocate Units among
No subscription application or bank transfer will be accepted after the close of the Second Additional Offer Period. Copy of the Articles of Association and Ax wax of the Portfolio Manager with the company seal. Additional Units offered will only be allocated to registered Unitholders on the day of the Unitholders.
In the event that it is not covered by them, it will be allocated to the rest of the individual subscribers. In addition, the additional units must be listed on the Tadawul within a period not exceeding 60 (sixty) days after the end of the second additional offering period.
Receiving Agents for the Second Additional Offering
The remaining Additional Units will be allocated to registered Unitholders on the day of Unitholders. The remaining Additional Units (if any) will be allocated to the remaining new investors, excluding registered Unitholders, on the day of the Unitholders' Meeting dedicated to approving the increase in the Total Asset Value of the Fund, on a pro rata basis. basis among them according to the registration. applications. The unallocated surplus of Units (if any) will be refunded to all Unitholders by bank transfer to the investor's account specified in the subscription application, within a maximum period of 15 (fifteen) working days after the closing of the Second Additional Offer Period. provided that the transfer of ownership of the Additional Real Estate takes place in the interest of the Fund.
The fund manager has the right to reject any application for registration in the second additional offer, if the acceptance of such an application would result in a violation of the liquidity conditions specified in Article (11) of the Listing Rules, which stipulate: (1) there must be at least 200 public holders of property units in time of quotation; (2) the minimum total value of the fund's assets must be at least 500 million Saudi Riyals; (3) the nominal value per unit to be quoted must be SR 10; (4) and at least (30%) of all fund units are owned by public unit holders at the time of listing; (5) the requirements from subparagraphs (1) and (4) of this article constitute a permanent obligation of the fund manager; (6) If the fund manager learns at any time after the listing of his units that the requirements from subsections (1) and (4) of this article are no longer met, the fund manager must immediately notify the stock exchange and take the necessary corrective measures to ensure that the relevant requirements are met . 25 The investor will register through the electronic channels of the acquiring agent after receiving this additional annex or through the branch offices of the acquiring agent after submitting a signed copy of this additional annex.
Cancellation of the Second Additional Cash Offering and Redemptions
Additional risks related to the increase of the Fund’s Total Assets Value
Although the Fund intends to register all lease contracts on the Ejar platform, the Fund has not been able to register all lease contracts related to the Fund's assets, including those related to additional real estate and contracts entered into before the entry into force of The cabinet in question. decision. With regard to contracts for properties leased to a single tenant and contracts entered into before the entry into force of the cabinet decision, the Fund Manager intends to register the same as soon as possible with the renewal of these contracts. In the event that certain lease contracts related to the Fund's real estate are not registered, these contracts may become unproductive with respect to its administrative and legal effect and this may result in a negative impact on the Fund's business, cash flows and distributions in Quota Owners.
If the market faces an increase in financing costs, this may adversely affect the ability of potential buyers to obtain real estate facilities to acquire the Fund's assets. Any decrease in the level of demand for the Fund's assets will lead to a decrease in the values assigned by property appraisers to such assets, which may adversely affect the Fund's rental income and the profits made from the sale of the Fund's assets and distributions to Unitholders.
Fees, Service Charges, Commissions and Management Fees
- Fees and Expenses
- Cases or situations in which the fund manager has the right to waive or deduct any of the aforementioned
- The table below shows a presumptive investment for Unitholders
- Fund Manager’s Acknowledgment
The Fund will pay a commission of SAR 1,460,217 to the Receiving Agents as a one-off payment for the purposes of offering the Additional. The fund also covers the asset management costs for Jarir Bookstore properties in an annual amount equivalent to SAR 480,000 paid to the independent property manager Olaat Development Company Ltd. The Fund also pays additional amounts to the Sub-Manager for each additional property acquired by the Fund, including additional properties.
These expenses do not include title transfer fees and are paid by the Fund based on the actual costs payable and will be disclosed to the Unitholders. It is expected that the total of these costs will amount to a maximum of 0.10% of the total value of the fund annually. The Fund does not intend to provide any deduction or waive the expenses, and it is expected that the aggregate of these charges will reach a maximum of 0.25% of the Fund's Total Asset Value.
Cases or situations in which the fund manager has the right to waive or deduct any of the above-mentioned obligations from the above-mentioned obligations.
Insurance
The Fund Manager acknowledges that the fees mentioned above represent all fees imposed and calculated on the Fund, and that the Fund Manager will retain any fees not mentioned herein.
Other Information
Unless otherwise stated, all fees and costs referred to in these General Terms and Conditions are exclusive of VAT, and therefore in the event that value added tax is due on any service or goods provided by a third party for the benefit of the Fund or the Manager is delivered in his capacity as Fund Manager, the Manager is obliged to take into account the tax considerations due, whereby the consideration paid by the Fund to the relevant service provider is increased by an amount equal to the turnover tax payable on the Fund. Accordingly, investors should consider how VAT is applied to amounts due or incurred by the Fund.
Properties’ Management Companies
