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2018-01-01

Instructions for Investment Funds Announcements

The Capital Market Authority has issued updated instructions mandating standardized disclosure requirements for all investment fund categories, including public, traded, closed-ended, and real estate funds. Fund managers must publish bilingual announcements on designated websites outside official trading hours, utilizing approved templates that cover conflicts of interest, fund termination, distributions, board changes, and fundamental or non-fundamental modifications. These requirements ensure complete market transparency by enforcing precise announcement timing, Arabic text precedence in case of translation conflicts, and mandatory post-announcement updates to fund records.

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1 Instructions for Investment Funds Announcements Issued by the Board of the Capital Market Authority Pursuant to Resolution No. (4-01-2018), dated 14/04/1439 H., Corresponding to 01/01/2018 Based on Capital Market Law, issued by Royal Decree No. (M/30), dated 02/06/1424 H., Amended by the Resolution of the Board of the Capital Market Authority No. (03-68-2021), dated 27/10/1442 H, corresponding to 08/06/2021G IMPORTANT NOTICE: The current version of these Rules, as may be amended, can be found at the Authority’s website: www.cma.org.sa

2 Introduction:.............................................................................................................................. 5 General Instructions.................................................................................................................. 5 Part (1)....................................................................................................................................... 7 Announcement of Investment Funds Regulations.................................................................... 7 CHAPTER I: Public Investment Funds Announcements............................................................. 8

  1. Announcement for Conflict of Interests................................................................................ 8
  2. Announcement for the Fund's Termination or the End of Liquidation Period ..................... 9
  3. Announcement for the Appointment of a Replacement Custodian by the Fund Manager 10
  4. Announcement for Fund Distributions................................................................................ 11
  5. Announcement for a Change in the Membership of the Fund’s Board of Directors.......... 12
  6. Announcement for Updating the Terms and Conditions of a Fund.................................... 13
  7. Announcement for the details of Fundamental Changes to a Fund ................................... 14
  8. Announcement for the Details of Non-Fundamental Changes to a Fund.......................... 15
  9. Announcement for the Initial Public Offering Results of a Fund......................................... 16
  10. Announcement for the Suspension of Subscription or Redemption of Fund Units.......... 17
  11. Announcement for the End of Suspension of Subscription or Redemption of Fund Units ................................................................................................................................................. 18
  12. Announcement for an Incorrect Valuation or Pricing of a Fund’s Units........................... 19
  13. Announcement for the Call for a Meeting of the Fund’s Unitholders. ............................. 20
    1. Announcement for the Call for a Meeting of the Fund’s Unitholders. ......................... 20
    1. Announcement for a Call for a Second Meeting of the Fund’s Unitholders for Not Meeting the Quorum at the First Meeting ............................................................................. 21
  16. Announcement for the Results of the Meeting of the Fund’s Unitholders. ..................... 22
  17. Announcement for Not Convening the Meeting of the Fund’s Unitholders..................... 23
  18. Announcement for Providing the Public with the Annual Reports, Including the Annual Financial Statements............................................................................................................... 24
  19. Announcement for Providing the Public with the Interim Financial Statement .............. 25
  20. Announcement of the Fund’s Quarterly Statement.......................................................... 26
  21. Announcement for the details of Investment Funds’ Merger .......................................... 27
  22. Corrective Announcement ................................................................................................ 28
  23. Addendum Announcement............................................................................................... 29 Chapter II Announcement of Investment Traded Funds......................................................... 30
  24. Announcement for the Plan and Procedures of Termination of the Fund ......................... 30
  25. Announcement for the Fund's Termination or the End of the Liquidation Period ............ 31

3 3. Announcement for the Termination of the Fund Due to a Specific Event.......................... 32 4. Announcement for the Removal of the Fund Manager from the Liquidation Process and the Appointment of a Replacement Liquidator ..................................................................... 33 5. Announcement for the Occurrence of a Material Events and Developments during the Liquidation Period of the Fund................................................................................................ 34 6. Announcement for the Availability of the Fund's Termination Report............................... 35 7. Announcement for the Removal of the Fund’s Custodian.................................................. 36 CHAPTER III : Announcements of Closed-Ended Investment Traded Funds........................... 37

  1. Announcement for the Fund Board of Directors’ Decision to Approve the Fund’s Units buy￾back ........................................................................................................................................ 37
  2. Announcement for the Results of the Fund’s Units buy-back ........................................... 38
  3. Announcement for the Occurrence of a Material Development ....................................... 39
  4. Announcement for the Occurrence of a Specific Event ..................................................... 40 Part 2 ....................................................................................................................................... 41 Real Estate Investment Funds Regulations Announcements.................................................. 41 CHAPTER I: Public Real Estate Investment Funds Announcements........................................ 42
  5. Announcement for a Change in the Membership of the Fund’s Board of Directors.......... 42
  6. Announcement for Conflict of Interests.............................................................................. 43
  7. Announcement for the Call for a Meeting of the Fund’s Unitholders. ............................... 44
    1. Announcement for the Call for a Meeting of the Fund’s Unitholders. ........................... 44
    1. Announcement for a Call for a Second Meeting of the Fund’s Unitholders Due to Lack of Quorum at the First Meeting .................................................................................................. 45
  10. Announcement for the Results of the Meeting of the Fund’s Unitholders. ....................... 46
  11. Announcement for Not Convening the Meeting of the Fund’s Unitholders....................... 47
  12. Announcement for Updating the Terms and Conditions of a Fund.................................... 48
  13. Announcement of the Fund’s (Quarterly/Semiannual) Statement..................................... 49
  14. Announcement for Providing the Public with the Interim Financial Statements ............... 50
  15. Announcement for Providing the Public with the Annual Reports, Including the Annual Financial Statements............................................................................................................... 51
  16. Announcement for the details of Fundamental Changes to a Fund ................................. 52
  17. Announcement for the Details of Non-Fundamental Changes to a Fund........................ 53
  18. Announcement for the Appointment of a Replacement Custodian by the Fund Manager ................................................................................................................................................. 54
  19. Announcement for the availability of the Reports of Valuation of Fund’s Real Estates During the Offering Period ...................................................................................................... 55

4 14. Announcement for the availability of the Semiannual Valuation Reports of the Fund’s Assets....................................................................................................................................... 56 15. Announcement for the Results of the Fund’s Offering ..................................................... 57 16. Announcement for the Fund's Termination or the End of Liquidation Period ................. 58 17. Announcement for Fund Distributions.............................................................................. 59 18. Corrective Announcement ................................................................................................ 60 19. Addendum Announcement............................................................................................... 61 Chapter II Real Estate Investment Traded Funds Announcements......................................... 62

  1. Announcement for the Removal of the Fund’s Custodian.................................................. 62
  2. Announcement for the Plan and Procedures of Termination of the Fund ......................... 63
  3. Announcement for the Fund's Termination or the End of the Liquidation Period ............ 64
  4. Announcement for the Termination of the Fund Due to a Specific Event.......................... 65
  5. Announcement for the Removal of the Fund Manager from the Liquidation Process and the Appointment of a Replacement Liquidator ..................................................................... 66
  6. Announcement for the Availability of the Fund's Termination Report .............................. 67
  7. Announcement for the Fund Board of Directors’ Decision to Approve the Fund’s Units buy￾back ......................................................................................................................................... 68
  8. Announcement for the Results of the Fund’s Units buy-back ........................................... 69
  9. Announcement for a Material development in the Fund ................................................... 70
  10. Announcement for a Specific Event in the Fund............................................................... 71
  11. Announcement for the details of Investment Funds’ Merger .......................................... 72

5 Introduction: The Capital Market Authority has updated and amended these instructions in order to help Investment Fund Managers to fully comply with the provisions of the Capital Market Law and its Implementing Regulations. This also aims to enhance transparency and disclosure in the Exchange and to assist investors to make their investment decisions based on complete and clear information. These Instructions define the fundamental elements that shall be included in all Investment Funds Announcements. General Instructions Without prejudice to the relevant articles of the Capital Market Law, Investment Funds Regulations and Real Estate Investment Funds Regulations, the Fund Manager must comply with these Instructions and announce when any of the cases mentioned in Parts 1 and 2 of these Instructions occur. The announcement must be made available on the specified sites, as stated in each case, according to the following rules:

  1. The announcement shall be in Arabic and English (as applicable), and shall be in compliance with the sound rules of the language.
  2. In the event that the text of the announcement is in English, the Fund Manager shall be responsible for ensuring that the Arabic and English versions are identical, and in case of any conflict between the texts, the Arabic text shall prevail.
  3. The Fund Manager must comply with the announcements forms set forth in these Instructions.
  4. The announcement shall not be published during the official trading times of the Saudi Stock Exchange.
  5. The title and content of the announcement must be clear and reflect what is intended to be announced.
  6. The name of the fund approved by the Authority must be used.
  7. After the Fund Manager makes the announcement, the Fund Manager must update all information of the fund related to the announcement on the websites, where the announcement was published.
  8. In addition to the above-mentioned General Instructions, the provisions of Part (1) and Part (2) shall be applicable to the Investment Funds as follows:

6 Fund Category Applicable Provisions Public Investment Funds Chapter 1- Part 1 Investment Traded Funds Chapters (1 & 2) - Part 1 Closed-Ended Investment Traded Funds Chapters (1, 2 & 3) - Part 1 Public Real Estate Funds Chapter 1- Part 2 Real Estate Investment Traded Funds Chapters (1 & 2) - Part 2

7 Part (1) Announcement of Investment Funds Regulations

8 CHAPTER I: Public Investment Funds Announcements

  1. Announcement for Conflict of Interests a. Announcement Website:
  • The Fund Manager’s website.
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: ” (The Fund Manager’s Name) announces a conflict of interest in (The Fund’s Name)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces a conflict of interest in (The Fund’s Name) as follows: (State the details of the conflict of interest as approved or endorsed by the Board of Directors of the relevant Fund)”

9 2. Announcement for the Fund's Termination or the End of Liquidation Period a. Announcement Website:

  • The Fund Manager’s website.
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding (The Fund’s Name)'s termination or the end of liquidation period c. The Detailed Announcement: “(The Fund Manager’s Name) announces of (The Fund’s Name)'s termination or the end of liquidation period on (//**** H.), corresponding to (//*** G)”.

10 3. Announcement for the Appointment of a Replacement Custodian by the Fund Manager a. Announcement Website:

  • The Fund Manager’s website
  • And or any other website available to the public according to the controls set out by the Authority b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manger’s Name) regarding the appointment of (name of replacement Custodian) as a Custodian of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manger’s Name) announces the appointment of (name of replacement Custodian) as a Custodian of (The Fund’s Name) as of: day, date (//**** H.), corresponding to (//**** G)”

11 4. Announcement for Fund Distributions a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: c. “Announcement by (The Fund Manager’s Name) regarding the distributions of Fund’s dividends to the Unitholders of (The Fund’s Name)” d. The Detailed Announcement: “(The Fund Manager’s Name) announces the distribution of cash dividends to the Unitholders of (The Fund’s Name) for (the dividends maturity period) as follows:
  1. Total distributed dividends... (Currency)
  2. Cash Distributions shall be based on... (Number of units) outstanding units.
  3. The amounts of dividends distributed is... (Currency) for each unit.
  4. The distribution ratio is... % of the net asset value as on “day, date (//**** H.), corresponding to (//**** G)”
  5. Cash distribution entitlements to unitholders shall be based on the unitholder register on the end of “day, date (//**** H.), corresponding to (//**** G.)”
  6. Distributions will be paid within (number of days). The Fund Manager would like to remind the unitholders to update their information with Capital Market Institution, where their accounts are being held, to ensure the direct deposit of their due distributions”.

12 5. Announcement for a Change in the Membership of the Fund’s Board of Directors a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a change of the membership of the Board of Directors of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces a change in the membership of the Board of Directors of (The Fund’s Name) due to (resignation/removal/appointment/death) of board member (name of member) (membership status: Independent/dependent) from (//**** H.), corresponding to (//**** G.). The formation of the Board of Directors, after the change, shall be: 1- (name of the member) (membership status: Independent/dependent) 2- (name of the member) (membership status: Independent/dependent) 3- (name of the member) (membership status: Independent/dependent)”

13 6. Announcement for Updating the Terms and Conditions of a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding an update of the terms and conditions of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces an update of the terms and conditions of (The Fund’s Name) as of (//H) corresponding to (/**/*** G.)”. A summary of the main updated items are as follows: (.....................................................) The updated terms and conditions can be found in the attached file.”

14 7. Announcement for the details of Fundamental Changes to a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website (for Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a fundamental change to (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the unitholders and the Capital Market Authority of a fundamental change to (The Fund’s Name), such change will become effective on (//**** H), corresponding to (//**** G.)”. The details of the fundamental change are as follows: (.....................................................) In the event where the fundamental change is for an open-ended public fund that imposes redemption fees, the following text must be added: “Unitholders have the right to redeem their units before any fundamental change is effective; without incurring any redemption fees”.

15 8. Announcement for the Details of Non-Fundamental Changes to a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website (for Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the details of non- fundamental changes to (The Fund’s Name)” c. THE Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the Fund’s Board of Directors of a non-fundamental change to (The Fund’s Name); such change will become effective on (//**** H.), corresponding to (//**** G.)” The details of the non-fundamental change are as follows: (.....................................................) In the event where the non- fundamental change is for an open-ended public fund that imposes redemption fees, the following text must be added: “Unitholders have the right to redeem their units before any non-fundamental change is effective; without incurring any redemption fees”.

16 9. Announcement for the Initial Public Offer Results of a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website (for Traded Funds) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the results of the initial public offer of (The Fund’s Name)” c. The detailed announcement must contain the following elements:
  1. The Fund’s Name
  2. The date of the end of the offering
  3. The collected amounts (in SR.)
  4. Date of Fund operation

17 10. Announcement for the Suspension of Subscription or Redemption of Fund Units a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the suspension of subscription or redemption of Units for (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the suspension of subscription or redemption of Units for (The Fund’s Name) as of (the date of the suspension or redemption of units: day, date (//**** H.), corresponding to (//**** G)), (It must state the reason for the suspension and date of lifting such suspension, if predetermined)”.

18 11. Announcement for the End of Suspension of Subscription or Redemption of Fund Units a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the end of suspension of subscription or redemption of Fund Units of (The Fund’s Name)” c. The Detailed Announcement: “Following the announcement regarding the suspension of subscription or redemption of units for (The Fund’s Name) published on (//**** H.), corresponding to (//**** G.), (The Fund Manager’s Name) announces the end of suspension of subscription or redemption of units for (The Fund’s Name), as of (date of the end of suspension for the subscription or redemption of the fund’s units): (day) dated ((//**** H.) corresponding to (//**** G.). (The reason for ending the suspension must be stated)”.

19 12. Announcement for an Incorrect Valuation or Pricing of a Fund’s Units a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the incorrect valuation or pricing of a unit of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces an incorrect valuation or pricing of units of (the Fund’s Name), during the period (term (period) of incorrect valuation/pricing). The following is the total assets and the unit price after correction:
  • Total Assets (***) (SR.)
  • Unite Price (***) (SR.)
  • Percentage of error in the unit price (***) %
  • Date of publishing the incorrect valuation or pricing (//**** H.), corresponding to (//**** G)” All affected unitholders will be compensated (including former unitholders) for all valuation and pricing errors immediately. Should you need further clarification, please contact us by (Telephone No. /Email Address).

20 13. Announcement for the Call for a Meeting of the Fund’s Unitholders. 13. 1. Announcement for the Call for a Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website (for Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding call for a meeting of the Fund’s unitholders of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) invites (The Fund’s Name) unitholders to attend unitholders meeting, which will take place in (meeting venue) at (meeting time), on (//**** H.), corresponding to (//**** G.) to discuss the following agenda: (suggested decisions)”. Should you need further clarification, please contact us by (Telephone No. /Email Address). In case the voting process will be made by e-voting, It must be indicated in the announcement for the call for the meeting of the Fund’s unitholders. Also, it should include the meeting’s date, time (if predetermined) and the URL thereof; otherwise, it must indicate that the date and time would be announced later.

21 13. Announcement for the Call for a Meeting of the Fund’s Unitholders. 13. 2. Announcement for a Call for a Second Meeting of the Fund’s Unitholders for Not Meeting the Quorum at the First Meeting a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website (for Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a Call for a Second Meeting of the Fund’s Unitholders of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) invites (The Fund’s Name) unitholders to attend the second unitholders meeting, which will take place in (meeting venue) at (meeting time), on (//**** H.), corresponding to (//**** G.) to discuss the following agenda: (suggested decisions)”. Should you need further clarification, please contact us by (Telephone No. /Email Address). In case the voting process will be made by e-voting, It must be indicated in the announcement for the call for the meeting of the Fund’s unitholders. Also, it should include the meeting’s date, time (if predetermined) and the URL thereof; otherwise, it must indicate that the date and time would be announced later.

22 14. Announcement for the Results of the Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website (for Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the results of the meeting of the Unitholders of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the results of (The Fund’s Name) unitholders’ meeting held on (//**** H.), corresponding to (//**** G.) as follows: (State the results of the meeting)”

23 15. Announcement for Not Convening the Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Fund) and the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding non￾convention of the meeting of the unitholders of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the non-convention of the meeting of the unitholders of (the Fund’s Name) which was scheduled to be held on (//**** H.), corresponding to (//**** G.) (State the reasons for not convening the meeting)”

24 16. Announcement for Providing the Public with the Annual Reports, Including the Annual Financial Statements a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) that (the Fund’s Name)’s annual reports, including the annual audited financial statements, for the period ended on //*** are available to the public”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that (The Fund’s Name)’s annual reports, including the annual audited financial statements, for the period ended on //***.
  • Net assets on the end of period of (***) (currency).
  • Total expenses and fees for the year/period (***) (currency).
  • Net profit (loss) for the year/period of (***) (currency).
  • Number of outstanding units at the end of period (***) (units)
  • Net asset value for the unit in (Currency)
  • Revenue of the period (***) %. Must insert the Fund’s Annual Reports as attachments to the announcements published on the Fund Manager’s website and the Exchange website or any other website available to the public according to the controls set out by the Authority (where applicable)”

25 17. Announcement for Providing the Public with the Interim Financial Statements a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for providing the public with the interim financial statements of (the Fund’s Name) for the period ending on //**** are available to the public”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the interim financial statements of (the Fund’s Name) for the period ending on //****. The following is the summary of the interim financial results of the period:
  • Net assets on the end of period of (***) (currency).
  • Total expenses and fees for the period (***) (currency).
  • Net profit (loss) for the period of (***) (currency).
  • Number of outstanding units in the end of period (***) (units).
  • Net asset value for the unit in (Currency)
  • Revenue of the period …%. Must insert the Fund’s Interim Financial Statements as attachments to the announcements published on the Fund Manager’s website and the Exchange website or any other website available to the public according to the controls set out by the Authority (where applicable)”

26 18. Announcement of the Fund’s Quarterly Statement a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the Availability of the quarterly statement of (the Fund’s Name) for the period ending on //. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the quarterly statement of (the Fund’s Name) for the period ending on //. A copy of the quarterly statement can be found in the attachments”

27 19. Announcement for the Details of Investment Funds’ Merger a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for obtaining the approval of the unitholders and the Capital Market Authority on merging the following funds: (The Fund’s Name) and (The Fund’s Name)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the unitholders and the Capital Market Authority on merging the following funds: (The Fund’s Name) and (The Fund’s Name)”. The details of the merger are: (……………………).

28 20. Corrective Announcement a. Announcement Website:

  • Websites, where the previous announcement subject of correction, was published b. The title of the Announcement shall read as follows: “Corrective announcement from the fund manager of (The Fund’s Name) regarding (announcement subject)” c. The detailed announcement must contain the following elements:
  1. Date of the pervious announcement on the relevant website
  2. The misstatement on the pervious announcement
  3. Correction of the error.
  4. The resulted impact from the misstatement (if any). d. The Detailed Announcement: “A corrective announcement for (The Fund Manager’s Name)’s announcement published on (//**** H,) corresponding to (//**** G). The Fund Manager wishes to clarify (state the correction details)”.

29 21. Addendum Announcement a. Announcement Website:

  • Websites, where the previous announcement, was published b. The title of the Announcement shall read as follows: “(The Fund Manager’s Name) announces an addendum announcement regarding (announcement subject)”. c. The detailed announcement must contain the following elements:
  1. Date of the pervious announcement on the relevant website
  2. Subject of change.
  3. The resulted impact from the change (if any). d. The Announcement Form: “An addendum announcement for the (The Fund Manager’s Name) published on (//**** H,) corresponding to (//**** G). The Fund Manager wishes to clarify (state the correction details)”.

30 Chapter II Announcement of Investment Traded Funds

  1. Announcement for the Plan and Procedures of Termination of the Fund a. Announcement Website:
  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the plan and procedures of termination of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the Board of Directors of the plan and procedures of terminating (The Fund’s Name) as follows: (Details of the plan and procedures and timetable)”

31 2. Announcement for the Fund's Termination or the End of the Liquidation Period a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the termination of (The Fund’s Name) or the end of the liquidation period” c. The detailed announcement must contain the following elements:
  1. The Fund’s Name
  2. Date of distribution of investment amounts to unitholders
  3. Investment return as a percentage (where applicable)

32 3. Announcement for the Termination of the Fund Due to a Specific Event a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the Termination of (The Fund’s Name)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the term termination of (The Fund’s Name) on (//**** H,) corresponding to (//**** G). (State the event that caused the termination, as per the terms and conditions of the Fund)”

33 4. Announcement for the Removal of the Fund Manager from the Liquidation Process and the Appointment of a Replacement Liquidator a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “(The Fund Manager’s Name) announces the resolution of the Capital Market Authority on the removal thereof from the liquidation of (The Fund’s Name) and the appointment of a replacement liquidator”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the resolution of the CMA on the removal thereof from the liquidation of (The Fund’s Name ) as of (//**** H,) corresponding to (//**** G) and the appointment of (name of replacement) as a replacement liquidator”.

34 5. Announcement for the Occurrence of a Material Events and Developments during the Liquidation Period of the Fund a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “(The Fund Manager’s Name) announces Occurrence of a material events and developments during the liquidation period of (the Fund’s Name)”. c. The detailed announcement must contain the following elements:
  1. Description of the events and developments
  2. The resulted impact from the occurrence of the event or developments
  3. The beginning and end of the Fund liquidation period

35 6. Announcement for the Availability of the Fund's Termination Report a. Announcement Website:

  • The Fund Manager’s website
  • The Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the availability of the Fund's termination report (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the termination report of (the Fund’s Name), including the final audited financial statements of the Fund which was terminated on (//**** H,) corresponding to (//**** G), A copy thereof can be found in the attachments.

36 7. Announcement for the Removal of the Fund’s Custodian a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the removal of the Custodian of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the removal of (name of the removed Custodian) of (the Fund’s Name) from: day, date (//**** H.), corresponding to (//). Please note that a replacement custodian will be appointed within (30) days as from (// H,) corresponding to (//**** G).”

37 CHAPTER III: Announcements of Closed-Ended Investment Traded Funds

  1. Announcement for the Fund Board of Directors’ Decision to Approve the Fund’s units buy-back a. Announcement Website:
  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the intention of (the Fund’s Name) to buy-back its units” c. The detailed announcement must contain the following elements as a minimum:
  1. Date of the approval of the Fund’s Board of Directors
  2. Purpose of purchase
  3. Number of units to be bought-back and their class
  4. Financing method of the purchase
  5. Percentage of Fund treasury units to units issued by the Fund
  6. Reference to the issuance of a special fund resolution by the unitholders approving the purchases
  7. Stating that the purchase would be made through the Exchange, rather than a special transaction
  8. Stating that the treasury units purchased by the Fund shall not have any voting rights at the unitholders’ meeting, nor shall it have entitlements to the Fund’s distributions

38 2. Announcement for the Results of the Fund’s units buy-back a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the results of (the Fund’s Name) units buy-back (stage ...” c. The detailed announcement must contain the following elements as a minimum:
  1. Reference to the announcement of the Fund Manager for the results of the meeting of Unitholders, at which the special resolution to approve the purchase process is issued
  2. Purchase period
  3. Number of units purchased
  4. value of units purchased
  5. Average purchase price per unit

39 3. Announcement for the Occurrence of a Material Development a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a material development of (the Fund’s Name)” c. The detailed announcement must contain the following elements:
  1. Description of Event
  2. The resulted impact from the occurrence of the event

40 4. Announcement for the Occurrence of a Specific Event a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the occurrence of a specific event in (the Fund’s Name)” c. The detailed announcement must contain the following elements:
  1. Description of Event
  2. The resulted impact from the occurrence of the event

41 Part 2 Real Estate Investment Funds Regulations Announcements

42 CHAPTER I: Public Real Estate Investment Funds Announcements

  1. Announcement for a Change in the Membership of the Fund’s Board of Directors a. Announcement Website:
  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a change of the membership of the Board of Directors of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces a change in the membership of the board of (the Fund’s Name) due to (resignation/removal/appointment/death) of board member (name of member) (membership category: Independent/dependent) as of ((//**** H.), corresponding to (//**** G). The formation of the board after the change shall be: 1- (name of the member) (membership status: Independent/dependent) 2- (name of the member) (membership status: Independent/dependent) 3- (name of the member) (membership status: Independent/dependent)”

43 2. Announcement for Conflict of Interests a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) of a conflict of interest in (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces a conflict of interest in (the Fund’s Name) as follows: (State the details of the conflict of interest as approved or endorsed by the Board of Directors of the relevant Fund)”

44 3. Announcement for the Call for a Meeting of the Fund’s Unitholders. 3. 1. Announcement for the Call for a Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange’s website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding call for a meeting of the Fund’s unitholders of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) invites (The Fund’s Name) unitholders to attend unitholders meeting, which will take place in (meeting venue) at (meeting time), on (//**** H.), corresponding to (//**** G.) to discuss the following agenda: (suggested decisions)”. Should you need further clarification, please contact us by (Telephone No. /Email Address). In case the voting process will be made by e-voting , It must be indicated in the announcement for the call for the meeting of the Fund’s unitholders. Also, it should include the meeting’s date, time (if predetermined) and the URL thereof; otherwise, it must indicate that the date and time would be announced later.

45 3. Announcement for the Call for a Meeting of the Fund’s Unitholders. 3. 2. Announcement for a Call for a Second Meeting of the Fund’s Unitholders Due to Lack of Quorum at the First Meeting a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange’s website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a Call for a Second Meeting of the Fund’s Unitholders of (the Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) invites (The Fund’s Name) unitholders to attend the second unitholders meeting, which will take place in (meeting venue) at (meeting time), on (//**** H.), corresponding to (//**** G.) to discuss the following agenda: (suggested decisions)”. Should you need further clarification, please contact us by (Telephone No. /Email Address). In case the voting process will be made by e-voting, It must be indicated in the announcement for the call for the meeting of the Fund’s unitholders. Also, it should include the meeting’s date, time (if predetermined) and the URL thereof; otherwise, it must indicate that the date and time would be announced later.

46 4. Announcement for the Results of the Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange’s website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name regarding the results of the meeting of the Unitholders of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the results of (The Fund’s Name) unitholders’ meeting held on (//**** H.), corresponding to (//**** G.) as follows: (State the results of the meeting)”

47 5. Announcement for Not Convening the Meeting of the Fund’s Unitholders. a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange’s website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding non￾convention of the meeting of the unitholders of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the non-convention of the meeting of the unitholders of (The Fund’s Name) which was scheduled to be held on (//**** H.), corresponding to (//**** G.) (State the reasons for not convening the meeting)”

48 6. Announcement for Updating the Terms and Conditions of a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding an update of the terms and conditions of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces an update of the terms and conditions of (The Fund’s Name) as of (//H) corresponding to (/**/*** G.). A summary of the main updated items are as follows: (.....................................................) The updated terms and conditions can be found in the attached file.”

49 7. Announcement of the Fund’s (Quarterly/Semiannual) Statement a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) the availability of the quarterly/semiannual statement of (The Fund’s Name) for the period ending on //”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the quarterly/semiannual statement of (The Fund’s Name) for the period ending on (//). A copy of the quarterly/semiannual statement can be found in the attachments”

50 8. Announcement for Providing the Public with the Interim Financial Statements a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by the (The Fund Manager’s Name) for providing the public with the interim financial statements of (The Fund’s Name) for the period ending on (//)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the interim financial statements of (The Fund’s Name) for the period ending on //. are available to the public. The following is the summary of the interim financial results of the period:
  • Net assets on the end of period of (….) (currency).
  • Total expenses and fees for the period (….) (currency).
  • Net profit (loss) for the period of (…) (currency).
  • Number of outstanding units at the end of period (….) units.
  • Net asset value for the unit in (Currency)
  • Revenue of the period …%. Must insert the Fund’s Interim Financial Statements as attachments to the announcements published on the Fund Manager’s website and the Exchange website or any other website available to the public according to the controls set out by the Authority (where applicable)”

51 9. Announcement for Providing the Public with the Annual Reports, Including the Annual Financial Statements a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) that (The Fund’s Name)’s annual reports, including the annual audited financial statements, for the period ended on //*** are available to the public”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that (The Fund’s Name)’s annual reports, including the annual audited financial statements, for the period ended on (//***) are available to the public".
  • Net assets on the end of period of (….) (currency).
  • Total expenses and fees for the period (….) (currency).
  • Net profit (loss) for the period of (…) (currency).
  • Number of outstanding units in the end of period (….) units.
  • Net asset value for the unit in (Currency)
  • Revenue of the period …%. Must insert the Fund’s Annual Reports as attachments to the announcements published on the Fund Manager’s website and the Exchange website or any other website available to the public according to the controls set out by the Authority (where applicable)”

52 10. Announcement for the details of Fundamental Changes to a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange’s website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a fundamental change to (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the unitholders and Capital Market Authority of a fundamental change to (The Fund’s Name),such change will become effective on (//**** H), corresponding to (//**** G.)”. The details of the fundamental change are as follows: (.....................................................) In the event where the fundamental change is for an open-ended fund that imposes redemption fees, the following text must be added: “Unitholders have the right to redeem their units before any fundamental change is effective without incurring any redemption fees".

53 11. Announcement for the Details of Non￾Fundamental Changes to a Fund a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (for the Public Real Estate Fund) and the Exchange website (for Real Estate Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the details of non- fundamental changes to (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) approval of the Fund’s Board of Directors of a non- fundamental change to (The Fund’s Name), such change will become effective on (//**** H.), corresponding to (//**** G.)” The details of the non-fundamental change are as follows: (.....................................................) In the event where the non- fundamental change is for an open-ended fund that imposes redemption fees, the following text must be added: “Unitholders have the right to redeem their units before any non￾material change is effective without incurring any redemption fees".

54 12. Announcement for the Appointment of a Replacement Custodian by the Fund Manager a. Announcement Website:

  • The Fund Manager’s website
  • And any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the appointment of (name of replacement Custodian) as a Custodian of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the appointment of (name of replacement Custodian) as a Custodian of (The Fund’s Name) as of: Day, Date (//**** H.), corresponding to (//**** G)”

55 13. Announcement for the availability ofthe Valuation Reports of Fund’s Real Estates During the Offering Period a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the availability of the valuation reports of (The Fund’s Name)’s real estates” c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the valuation reports of (The Fund’s Name)’s real estates, prepared by accredited valuers (Number of Valuers) are available and copy thereof can be found in the attachments

56 14. Announcement for the availability of the Semiannual Valuation Reports of the Fund’s Assets a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: Announcement by (The Fund Manager’s Name) for the availability of the semiannual reports of the assets of (The Fund’s Name) for the period ending on //. c. The Detailed Announcement: “(The Fund Manager’s Name) announces that semiannual evaluation reports of the assets of (The Fund’s Name) for the period ending on //., prepared by accredited valuers (Number of valuers) are available, according to the policy of Fund Asset Evaluation stated in the Terms and Conditions A copy of the reports can be found in the attachments”

57 15. Announcement for the Results of the Fund’s Offering a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website (in case of Real Estate Investment Traded Fund) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the results of the (The Fund’s Name)’s offering” c. The detailed announcement must contain the following elements:
  1. Name of the Fund
  2. The date of the end of the offering
  3. The collected amounts (in SR.)
  4. Date of Fund operation

58 16. Announcement for the Fund's Termination or the End of Liquidation Period a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding (The Fund’s Name)'s termination or the end of liquidation period c. The Detailed Announcement: “(The Fund Manager’s Name) announces the expiry (of the term or the liquidation) of (The Fund’s Name) on (//**** H.), corresponding to (//**** G)””

59 17. Announcement for Fund Distributions a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website, or any other website available to the public according to the controls set out by the Authority (where applicable) b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the distributions of Fund’s dividends to the Unitholders of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the distribution of cash dividends to the Unitholders of the (The Fund’s Name) for (the dividends maturity period) as follows: 1.Total distributed dividends... (Currency)
  1. Cash Distributions will be made on the basis of... (Number of units) outstanding units.
  2. The amounts of dividends distributed is... (Currency) for each unit.
  3. The distribution ratio is... % of the net value of assets as of “day, Date (//**** H.), corresponding to (//**** G)”
  4. Cash distribution entitlements to unitholders shall be based on the unitholder register on the end of “day, date (//**** H.), corresponding to (//**** G.)”
  5. Distributions shall be paid within (number of days). The Fund Manager would like to remind the unitholders to update their information with Capital Market Institution, where their accounts are being held, to ensure the direct deposit of their due distributions”.

60 18. Corrective Announcement a. Announcement Website:

  • Websites, where the previous announcement subject of correction, was published b. The title of the Announcement shall read as follows: “Corrective announcement from the fund manager of (The Fund’s Name) regarding (announcement subject)” c. The detailed announcement must contain the following elements:
  1. Date of the pervious announcement on the relevant website
  2. The misstatement on the pervious announcement
  3. Correction of the error.
  4. The resulted impact from the misstatement (if any). d. Detailed Announcement: "A corrective announcement for (The Fund Manager’s Name)’s announcement published on (//**** H,) corresponding to (//**** G). The Fund Manager wishes to clarify (state the correction details)".

61 19. Addendum Announcement a. Announcement Website:

  • Websites, where the previous announcement, was published b. The title of the Announcement shall read as follows: "(The Fund Manager’s Name) announces an addendum announcement regarding (announcement subject)". c. The detailed announcement must contain the following elements:
  1. Date of the pervious announcement on the relevant website
  2. Subject of change.
  3. The resulted impact from the change (if any). d. The Announcement Form: "Following the announcement for the (The Fund Manager’s Name) published on (//**** H,) corresponding to (//**** G). The Fund Manager wishes to clarify (state the correction details)".

62 Chapter II Real Estate Investment Traded Funds Announcements

  1. Announcement for the Removal of the Fund’s Custodian a. Announcement Website:
  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the removal of the Custodian of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the removal of (name of the removed Custodian) of (The Fund’s Name) from: day, date (//**** H.), corresponding to (//**** G). Please note that a replacement custodian will be appointed within (30) days as from (//**** H,) corresponding to (//**** G).”

63 2. Announcement for the Plan and Procedures of Termination of the Fund a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the plan and procedures of termination of (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the Board of Directors of the plan and procedures of terminating (The Fund’s Name) as follows: (Details of the plan and procedures and timetable)”

64 3. Announcement for the Fund's Termination or the End of the Liquidation Period a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the termination of (The Fund’s Name) or the end of the liquidation period” c. The detailed announcement must contain the following elements:
  1. Name of the Fund
  2. Date of distribution of investment amounts to unitholders
  3. Investment return as a percentage (where applicable)

65 4. Announcement for the Termination of the Fund Due to a Specific Event a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the Termination of (The Fund’s Name)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the term termination of (The Fund’s Name) on (//**** H,) corresponding to (//**** G). (State the event that caused the termination, as per the terms and conditions of the Fund)”

66 5. Announcement for the Removal of the Fund Manager from the Liquidation Process and the Appointment of a Replacement Liquidator a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “(The Fund Manager’s Name) announces the resolution of Capital Market on the removal thereof from the liquidation of (The Fund’s Name) and the appointment of a replacement liquidator”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the resolution of the Capital Market Authority on the removal thereof from the liquidation of (The Fund’s Name ) as of (//**** H,) corresponding to (//**** G) and the appointment of (name of replacement) as a replacement liquidator”.

67 6. Announcement for the Availability of the Fund's Termination Report a. Announcement Website:

  • The Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the availability of the Fund's termination report (The Fund’s Name)” c. The Detailed Announcement: “(The Fund Manager’s Name) announces that the termination report of (The Fund’s Name), including the final audited financial statements of the Fund which was terminated on (//**** H,) corresponding to (//**** G), are available t. A copy thereof can be found in the attachments.

68 7. Announcement for the Fund Board of Directors’ Decision to Approve the Fund’s Units buy-back a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the intention of (The Fund’s Name) to buy-back its units” c. The detailed announcement must contain the following elements as a minimum:
  1. Date of the approval of the Fund’s Board of Directors
  2. Purpose of purchase
  3. Number of units to be bought-back and their class
  4. Financing method of the purchase
  5. Percentage of Fund treasury units to units issued by the Fund
  6. Reference to the issuance of a special fund resolution by the unitholders approving the fund purchases
  7. Stating that the purchase would be made through the Exchange, rather than a special transaction
  8. Stating that the treasury units purchased by the Fund shall not have any voting rights at the unitholders’ meeting, nor shall it have entitlements to the Fund’s distributions

69 8. Announcement for the Results of the Fund’s Units buy-back a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for the results of (The Fund’s Name)’s Units buy-back (stage ...” c. The detailed announcement must contain the following elements as a minimum:
  1. Reference to the announcement of the Fund Manager for the results of the meeting of Unitholders, at which the special resolution to approve the purchase process is issued
  2. Purchase period
  3. Number of units purchased
  4. value of units purchased
  5. Average purchase price per unit

70 9. Announcementfor the Occurrence of a Material Development a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website
  • And means set in the Fund’s terms and conditions b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding a material development of (The Fund’s Name)” c. The detailed announcement must contain the following elements:
  1. Description of Event
  2. The resulted impact from the occurrence of the event

71 10. Announcementfor the Occurrence of a Specific Event a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) regarding the occurrence of a specific event in (The Fund’s Name)” c. The detailed announcement must contain the following elements:
  1. Description of Event
  2. The resulted impact from the occurrence of the event

72 11. Announcement for the details of Investment Funds’ Merger a. Announcement Website:

  • The Fund Manager’s website
  • And the Exchange’s website b. The title of the Announcement shall read as follows: “Announcement by (The Fund Manager’s Name) for obtaining the approval of the unitholders and the Capital Market Authority on merging the following funds: (The Fund’s Name) and (The Fund’s Name)”. c. The Detailed Announcement: “(The Fund Manager’s Name) announces the approval of the unitholders and the Capital Market Authority on merging the following funds: (The Fund’s Name) and (The Fund’s Name)”. The details of the merger are: (.....................................................)”

73

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