| Element List | Explanation |
|---|---|
| Description of the Event | Musharaka Capital, the Fund Manager of Musharaka REIT, announces that in order to mitigate the negative impact on the Fund of the continuous rise in SAIBOR due to increasing of interest rates, the Fund has obtained the approval of the Fund Manager to reduce the management fees by 50% on the new properties that might be acquired through the bank facilities available to the Fund. Note that this reduction will be effective till December 31, 2023. |
| The Impact Caused by the Event | The impact of this event will be positive when acquiring any new properties, given that it will reduce the total costs of the Fund. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.