– Announcement –

 Alkhabeer Capital Announcement Regarding an Update of the Terms and Conditions of Alkhabeer Waqf Fund 1

Alkhabeer Capital Company (The Fund Manager) announces non-fundamental update of the terms and conditions of Alkhabeer Waqf Fund 1 as of 15 Jumada al-Awwal 1445 corresponding to 29 November 2023. A summary of the main updated items are as follows:

1. Key Terms: The definition of “Net Asset Value” has been rephrased by replacing the word (liabilities) to (total liabilities).

2. Summary of the Fund: The following items were added in order to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection:

– ZATCA Registration Expenses.

– Zakat.

The auditor’s fees have been updated.

3. Main Risks of Investing in the Fund: (Zakat and Tax) statement has been updated to comply with the CMA’s circular regarding the fund manager’s compliance with the rules of zakat collection.

4. Consideration for the Services, Commissions and Fees: All items of the (Consideration for the Services, Commissions and Fees) paragraph have been updated to be consistent with the following updates:

– ZATCA Registration Expenses.

– Auditor’s Fees.

5. Dealings: Scheduled Date and Deadlines for Submission of the Fund Subscription Applications on any Dealing Day and the Fund Manager’s Responsibilities in relation to Subscription Applications (The paragraph has been rephrased).

6. Distribution Policy: Method of Payment of Distributions. The paragraph has been rephrased by deleting the phrase (which are received).

7. Fund Manager:

– The data of the Fund Manager’s Paid-Up Capital paragraph has been updated.

– The data of Summary of the Fund Manager’s financial information by mentioning the company’s revenues and profits for the years 2021 and 2022.

8. Board of Directors:

– The data of the Fund’s Board of Directors members paragraph has been updated.

– The paragraph of conflict of interest has been updated to provide more clarity.

The updated terms and conditions can be found in the attached file and through the fund Manager’s website, as in the following link: https://www.alkhabeer.com/waqf/

– End –