Logo Design of Rawasi Albina Investment Co.
Alkhair Capital Saudi Arabia, functioning as the sukukholder representative for Rawasi Albina Investment Co.’s sukuk (series 1), welcomed sukukholders to participate in a conference on Nov. 12.
In a declaration to Tadawul, the business stated the conference will go over the 3rd routine circulation due date, the failure to transfer the quantity into the sukuk account, the expiration of the grace duration, and the actions taken by the representative as much as the conference date.
The conference will likewise examine any updates or declarations from Rawasi Albina relating to the factors for non-payment, its liquidity position, the anticipated payment date, and the proposed payment strategy, which need to consist of particular dates and plainly specified ramifications, if any.
Sukukholders will likewise vote on the following products:
| Program | Proposed Discussion Topics | Proposed resolution result |
| Ballot on a momentary standstill duration/ suspension of enforcement actions for a given duration | Go over whether sukukholders want to give the provider a brief, given duration to settle the unsettled regular circulation quantity, after examining the provider’s position and proposed payment strategy, if any. The provider would be needed to supply regular updates and supporting files, without bias to sukukholders’ rights unless specifically mentioned otherwise in the resolution. | Vote on whether to advise the sukukholder representative not to take enforcement actions till Jan. 12, 2027, based on settlement of the past due circulation quantity or compliance with conditions figured out by sukukholders, without modifying the initial maturity date or waiving sukukholders’ rights other than to the degree authorized by them. |
| Ballot on a payment strategy/ deposit and rescheduling of the impressive balance, if any | Talk about any particular strategy sent by the company, if offered, covering complete or deposit of the past due routine circulation quantity, the payment date, rescheduling of any impressive balance, and the repercussions of failure to abide by the strategy. | Vote on whether to authorize or turn down the payment strategy sent by the provider, if any, in accordance with the dates and conditions set out in the resolution appendix or conference files, clarifying whether the occasion of default will stay in result till complete payment. If the company does not send a payment strategy, this will be tape-recorded in the conference minutes and the product will not be put to a vote. |
| Financial covenants and ask for a waiver/ standstill duration | Evaluation the status of monetary covenants based upon the monetary declarations, consisting of whether any breach of the monetary covenants specified in the sukuk files has actually taken place, and demand any information or therapeutic strategy from the provider. The choices readily available to sukukholders will likewise be gone over. | If a monetary covenant breach exists or the provider demands a waiver or standstill duration, sukukholders will vote on among the proposed choices, as provided at the conference, consisting of: 1. Authorizing a waiver or standstill duration for the pertinent monetary covenant for a specific duration. 2. Turning down the waiver or dead stop demand. 3. Asking for extra details or files from the provider before making a decision. |
| Ballot on advising the sukukholder representative to work out rights emerging from the occasion of default | Talk about whether sukukholders want to advise the sukukholder representative to take offered actions under the sukuk files, consisting of releasing an enforcement notification/ speeding up redemption, based on the appropriate treatments and quorum requirements, and supplied that the representative is effectively indemnified, protected or moneyed ahead of time in a way appropriate to it. Possible expenses and expenditures connected with working out these rights will likewise be clarified, consisting of legal advisory costs and any associated regulative or functional expenses. The allotment and healing of such expenses will be governed by the sukuk files. | Offered legal counsel choices, approximated expenses, and the proposed indemnification, security or advance financing plans will exist, where offered, before any associated actions are taken. |
According to Argaam information, Rawasi Albina finished a SAR 50 million public offering of its very first SAR-denominated sukuk issuance in March 2025, bring a set yearly return of 10.25%, payable semiannually.
In September 2026, Rawasi Albina revealed that it was not able to disperse the regular return on its very first sukuk issuance for the duration from March 10, to Sept. 10, due to its readily available money liquidity.
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