SEDCO Capital, in its capacity as the Fund Manager of SEDCO Capital REIT Fund wishes to assure the unitholders that we are closely monitoring the current global situation and latest developments associated with the COVID-19 pandemic.

 

Given the current circumstances, a wide range of precautionary measures have been implemented by Saudi Government to limit the spread of coronavirus (COVID-19), such as temporarily closing shopping centers, limiting working hours and curfews. As a result, the Fund Manager has received several requests from multiple tenants to consider temporary reductions of their contractual obligations. Therefore, the fund manager is considering dealing with these requests in a manner that maintains the interests of the unitholders and tenants in the same time. In addition, the Fund Manager is also studying several other initiatives that would contribute positively to the Fund’s operational performance.

 

Since the pandemic is still evolving globally and locally, it is difficult to predict the magnitude and precise financial impact of this temporary condition. Therefore, the Fund Manager distributed 6.1% on an annual basis for the first quarter of 2020 in accordance with the Fund’s terms and conditions.

 

The Fund Manager will disclose any material developments related to this matter in a timely manner on its website as well as the Exchange’s.