| Element List | Explanation |
|---|---|
| Introduction | Derayah Financial Company (“Fund Manager”), in its capacity as Manager of Derayah REIT Fund (“Fund”), announces the issuance of a court ruling in favor of the fund concerning Motoon Tower – Riyadh |
| Description of the Event | Derayah Financial, as the manager of Derayah REIT Fund, announces that it has received a notification from the Fund’s lawyer in the State of Kuwait, stating that a final court ruling has been issued by the Court of Appeal in the State of Kuwait in the case filed by the Fund against the branch of Al-Amaliyah Hotels Company (the previous tenant of the Motoon Tower property), obligating them to pay the Fund an amount of 13,759,116 riyals (thirteen million, seven hundred and fifty-nine thousand, one hundred and sixteen riyals), representing uncollected rental payments for the Motoon Tower property in Riyadh. |
| The Impact Caused by the Event | The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of amounts. |
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.