– Announcement –

Announcing the Issuance of Alkhabeer Growth and Income Traded Fund Board of Directors’ Approval to Buyback its Units with the Aim of Cancellation

Alkhabeer Growth and Income Fund’s Board of Directors, during its meeting on
11 June 2023, corresponding to 22 Dhul Qadah 1444, approved the Fund manager’s recommendation to raise a proposal to the General Assembly of unitholders to approve the Fund’s buyback of up to 50% of its units for the purpose of cancellation, at a price not exceeding the Fund’s net asset value. Subject to compliance with the Fund’s terms and conditions, as well as the Capital Market Authority’s rules and its implementing regulations. The following conditions shall also apply:

1. The maximum number of units recommended for buyback for the purpose of cancellation is the million current units, which amounts to up to (50%) of the total number of units circulation.

2. The buyback will be financed through the Fund’s net asset value.

3. The purchase will be made through the Saudi Exchange (Tadawul) and will not be through private deals.

4. The buyback will be made over a 12-month period from the date of the approval of the unitholders.

5. The units that the Fund will buyback for the purpose of cancellation will neither have any voting rights nor the right to receive cash dividends from the Fund’s distributions.

– Ends –