CMA LAW: Announcement Regarding the Conclusion of the Hand Over Period of the Clients’ Funds and Assets to them or to the Party that is Responsible to Hold, Manage or Safe-Keep them for Al-Fouz Investment Company

The Capital Markets Authority (CMA) announces the conclusion of the hand over period of the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them for Al-Fouz Investment Company.

This conclusion does not exempt Al-Fouz Investment Company, Mr. Abdullah Ahmad Al-Aiban – Chairman of the Company’s Board of Directors, or the Company’s Board of Directors from any current or future legal responsibility related to the contracts signed with its clients or the process of handing over the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them before Al-Fouz Investment Company’s clients or third parties.

This conclusion, at any form, is not considered an approval by the CMA, or a basis for the validity of the process of handing over the clients’ funds and assets to them or to the party that is responsible to hold, manage or safe-keep them or for the conclusion of the work of Al-Fouz Investment Company with its clients or third parties.

Moreover, this conclusion is not considered a discharge of the liability of Al-Fouz Investment Company, Mr. Abdullah Ahmad Al-Aiban – Chairman of the Board of Directors, Board of Directors, Executive Management, or any person registered in a registered position or employment position at Al-Fouz Investment Company.

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