Al Rajhi REIT unitholders to vote on releasing Alkhaleej Training locked-up units on Feb. 24

The unitholders of Al Rajhi REIT Fund will vote, on Feb. 24, on releasing the locked-up units owned by Alkhaleej Training and Education Co., the master tenant of Baraem Rowad Al Khaleej Intl Kindergarten, Riyadh; Rowad Al Khaleej International Schools in Riyadh; and Rowad Al Khaleej International Schools in Dammam, which amount to 26.40 million units, during the remaining lock-up period.

The lockup period stated under the terms and conditions is three years, starting from Jan. 6, 2020, in return for submitting promissory notes as a guarantee to pay the rent for the entire remaining period of the lease contract, Al Rajhi Capital, the fund manager, said in a statement to Tadawul.

The second meeting is valid regardless of the percentage of units represented at the meeting. All unit holders who are registered at Securities Depository Center (Edaa) by the end of the trading session preceding the meeting will have the right to attend and vote.

According to data compiled by Argaam, Al Rajhi REIT’s meeting of the unitholders, scheduled for Feb. 15, was not held due to lack of quorum.