23 Nov 2021
Following the announcement by the Saudi Economic and Development Securities Company (SEDCO Capital) published on 13 / 04 / 1443H, corresponding to 18 / 11 / 2021G. The Fund Manager wishes to clarify that more information has been added to the English version of the announcement to match the Arabic version, that is:
The items on the agenda:
1. An overview of the target portfolio
2. Allocation mechanism
32,500,000 units will be allocated to the owners of the additional portfolio as in-kind contribution. Regarding cash units, they will be allocated according to the following:
o The cash units are first allocated to the Unitholders of the fund registered on the day of the general assembly meeting, so that the allocation is up to a maximum of the ownership ratio of each Unitholder in the fund.
o The remaining 20% will be allocated to institutional investors. If not covered by them;
o The remaining cash units (if any) are allocated to registered and unregistered investors on the day of the general assembly meeting.
3. A clarification about the impact of the additional units pricing mechanism and the compensation for the in-kind owners.
4. A clarification of the conflict of interest around the Fund Manager and this transaction.
The supplementary appendix of the terms and conditions can be found via the following link: