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Financial markets

SICO Capital Withdraws as Fund Manager for SICO Saudi REIT, Wasatah Capital to Take Over

Strategic Insights

— 1 min read

SICO Capital, a leading financial services provider, has announced its voluntary withdrawal as the fund manager for SICO Saudi REIT, effective immediately. This transition comes after the fulfillment of regulatory requirements, including unitholders' approval and Wasatah Capital's acceptance. The Capital Market Authority (CMA) has approved the change, and the process will be completed within 60 days. SICO Capital has committed to ensuring a smooth handover of responsibilities to Wasatah Capital and will keep stakeholders informed of any new developments.

Key Takeaways:

  • SICO Capital has withdrawn as the fund manager for SICO Saudi REIT, effective immediately.
  • Wasatah Capital has been appointed as the new fund manager, subject to regulatory approval.
  • The transition process will be completed within 60 days from the CMA's approval date.
  • SICO Capital has pledged to facilitate a smooth and orderly handover of responsibilities to Wasatah Capital.
  • The Capital Market Authority and the Saudi Exchange have distanced themselves from liability regarding this disclosure.
  • SICO Capital will keep stakeholders informed of any new developments related to the transition.
  • The issuer, SICO Capital, bears full responsibility for the accuracy of the information provided.
  • SICO Capital has ensured that all reasonable inquiries have been conducted to guarantee the accuracy of the disclosed information.

Statistics:

  • The transition process is expected to be completed within 60 days from the CMA's approval date.
  • The CMA has approved the change in fund management within the Saudi Exchange.
  • SICO Capital has committed to ensuring a smooth handover of responsibilities to Wasatah Capital.

Sources:

  • Saudi Exchange, "SICO Capital Announces Voluntary Withdrawal as Fund Manager for SICO Saudi REIT"
  • SICO Capital, "Supplementary Disclosure"(Saudi Exchange)
  • Capital Market Authority (CMA), "Approval Decision for Change in Fund Management"
  • Saudi Exchange, "SICO Capital Commits to Smooth Transition Process"

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