Swicorp Wabel REIT unitholders to vote on fund manager removal on Sept. 15

Swicorp Wabel REIT Fund's unitholders will vote, on Sept. 15, on submitting a request to the Capital Market Authority (CMA) to remove the fund manager and halt any new investments or obtaining financing until the appointment of an alternative.

In a bourse statement, fund manager Swicorp Co., stated that on removal of the fund manager, unitholders will also vote on the delegation of two names from Faisal Mohammed AlAbdulkarim, Mohammed Abdullah Al Nemer, and Fahad Suleiman Aldahayan to replace and resume the fund's operations.

The finding and negotiating period will not exceed 60 days from when the decision to appoint a party in charge of finding and negotiating is issued.