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Unitholders Meeting of Alinma Makkah Real Estate Fund

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Frequently Asked Questions

 


Place and Time of the Assembly

Alinma Investment Company invites the Unitholders of Alinma Makkah Real Estate Fund to attend the Unitholders meeting, which will take place according to the following details:

 

Meeting date:  On this day Sunday of 06 /06/ 1443H corresponding to 09 /01/2022.

Venue:  Attending the meeting and voting on the resolution will be through using modern technology, via the following link: www.any-meeting.com/?id=8047496799

Meeting time:  at 01:00 PM, the duration of the meeting is 3 hours

The meeting agenda includes the following items:

  1. Report of the Financial Advisor (GIB Capital) regarding the amended offer submitted by Jabal Omar Development Company and concerning Jabal Omar Development Company desire to acquire the assets of Alinma Makkah Real Estate Fund and settle the obligations owed to the Fund in exchange for granting Shares in Jabal Omar Development Company to the Unitholders, in accordance with a specific exchange ratio.
  2. The Fund Manager’s recommendation and the Fund’s Board of Directors’ decision regarding the fundamental changes of the Fund’s Terms and Conditions, including the option of an in-kind exit for Unitholders in accordance with the amended offer submitted by Jabal Omar Development Company.
  3. A summary of the fundamental changes of the Terms and Conditions of the Fund, including those allowing the option of an in-kind exit for Unitholders, in accordance with the offer submitted by Jabal Omar Development Company. Below is a summary of these changes:
  • Adding the most important terms of the binding agreement to be concluded between Jabal Omar Development Company and the Fund (the "Transaction Agreement").
  • Adding the time range required for the transaction to be implemented.
  • Amending the summary of strategies to be followed by the Fund to achieve its objectives.
  • Amending and adding items to the investment risks of the Fund.
  • Amending the clause regarding the Fund's termination and liquidation.

It should be noted that the Fund's Unitholders will vote on the proposed resolution, which is as follows:

  • Fundamental changes to the Terms and Conditions of the Fund, to allow the option of an in-kind exit for the Unitholders, in accordance with the amended offer submitted by Jabal Omar Development Company. and concerning Jabal Omar Development Company desire to acquire the assets of Alinma Makkah Real Estate Fund and settle the obligations owed to the Fund in exchange for granting Shares in Jabal Omar Development Company to the Unitholders, in accordance with a specific exchange ratio.

Under Article 26 (B) of the Real Estate Investment Funds Regulations, approval of the above resolution shall be passed by obtaining the approval of the majority unitholders owning more than 75% of the total units whose owners are present at the Unitholders meeting.

The quorum required to conduct a meeting of the Unitholders shall be such number of Unitholders owning together at least 25% in value of the units in the Fund.

Should you need further clarification, please contact us via phone: 8004413333  or via email: info@alinmainvest.com.

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