المادة 24: Meeting of Unitholders

Article 24: Meeting of Unitholders

a) The fund manager may call for a meeting of unitholders on its own initiative. Provided that the subject of the invitation does not contradict with the responsibilities and duties of the Fund Manager in accordance with the provisions of these regulations.

b) The fund manager must call for a meeting of unitholders within (10) days of receiving a written request from the custodian.

c) The fund manager must call for a meeting of unitholders within (10) days of receiving a written request from a unitholder or more, holding individually or collectively at least (25%) in value of the units in the fund, and the fund manager must state it in the fund’s terms and conditions.

d) The fund manager shall call for a meeting of unitholders by announcing it on its website and any other website available to the public according to the controls set out by the Authority, and by sending a notice in writing to all the unitholders and the custodian giving not less than (10) days’ notice before the meeting and no more than (21) days' notice before the meeting. The announcement and notice must specify the date, place and time of the meeting and the proposed resolutions and its agenda. The fund manager must provide a copy of such notice to the Authority immediately without any delay.

e) Unitholders must be provided access, through the fund manager 's website and any other publicly accessible website in accordance with the controls set out by the Authority, to the necessary information and documents related to the items of the agenda when the call to the unitholders’ meeting is published, to enable them to make an informed decision.

f) When preparing the agenda for the unitholders' meeting, the fund manager must take into consideration the topics that the unitholders want to include, unitholders who own at least (10%) of the fund units’ value are entitled to add one or more topics to the agenda of the unitholders' meeting. Provided that the proposed topic does not overlap with the responsibilities and duties of the Fund Manager in accordance with the provisions of these regulations.

g) The fund manager may amend the agenda of the unitholders meeting within the notice period referred to in paragraph (d) of this Article, provided that it announces that on its website and any other website available to the public according to the controls set out by the Authority, and by submitting a written notice to all unitholders and the custodian;

1) at least 10 days prior to the meeting; 2) within a maximum of 21 days prior to the meeting.

h) In case that the unitholders approve any of the decisions proposed at the unitholders' meeting, and this necessitates amending the fund's terms and conditions, the fund manager must amend the fund's terms and conditions according to the approved decision.

i) The quorum required to conduct a meeting of the unitholders shall be such number of unitholders owning together at least (25%) in value of the units in the fund or greater percentage as specified in the fund’s terms and conditions.

j) If the quorum requirements set out in paragraph (i) of this Article are not met, the fund manager shall call for a second meeting by announcing it on its website and any other website available to the public according to the controls set out by the Authority and shall send a notice in writing to all the unitholders and the custodian giving not less than (5) days' notice prior to the second meeting. At the second meeting, any number of unitholder(s) holding any number of units present in person or represented by a proxy shall considered a valid quorum.

k) Every unitholder may entitle to appoint a proxy to represent such unitholder at the meeting of unitholders.

l) Every unitholder shall be entitled to exercise one vote at the meeting of the unitholders for each unit the unitholder holds as at the time of the meeting.

m) Substantial unitholders may not vote at the meeting of the unitholders on the decisions relating to the acquisition of real estate assets owned or utilized by them.

n) The unitholders meetings and its deliberations and voting on decisions may be conducted through modern technology in accordance with requirements set by the Authority.

o) The decision shall be effective upon the approval of unitholders holding more than (50%), or more than (75%) (where applicable), of the total units present in the meeting either by unitholders attending in person, appointed proxy or through contemporary technology.

p) The Treaded Fund is excluded from the requirement of sending a written notice to all unitholders mentioned in paragraphs (d), (g) and (j) of this Article, provided that such announcement is made on the fund manager’s website and the Exchange’s website. Chapter 3: Disclosure