Media

INVESTOR RELATIONS

Jabal Omar Development Company Announces Recent Development Relating To The Non-Binding Offer Submitted To The Manager Of Alinma Makkah Real Estate Fund Relating To The Full Settlement Of The Rights And Obligations Of The Fund’s Assets

Introduction
Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 07/06/1443H (corresponding to 10/01/2022G) in relation to the recent development relating to the non-binding offer submitted to the manager of Alinma Makkah Real Estate Fund (the “Fund”) regarding the full settlement of the rights and obligations of the Fund’s assets in exchange for new shares to be issued to the Fund’s unitholders in the Company (the “Transaction”) (hereinafter referred to as the “Company’s Announcement”), and the announcement made by the Fund manager on the Saudi Exchange website on 07/07/1443H (corresponding to 07/02/2022G) on obtaining the approval of the Capital Market Authority (CMA) on the fundamental changes to the Fund terms and conditions to enable the Fund manager to accept the offer on behalf of the Fund (hereinafter referred to as the “Fund Manager’s Announcement”), and whereas the Fund Manager’s Announcement stated that the fundamental changes will take effect on 20/07/1443H (corresponding to 21/02/2022G), and whereas the Company’s Announcement stated that the binding agreement in respect of the transaction is expected to be executed on or before the 10th of February 2022G, the Company announces that it has submitted a notification to the Fund manager to extend the period during which the binding agreement in respect of the transaction should be executed so that the agreement can be signed once the fundamental changes to the Fund terms and conditions take effect.

The Company will announce any further material developments in relation to the Transaction in a timely manner as required by the relevant laws and regulations.

Previous Announcement
Recent development relating to the non-binding offer submitted to the manager of Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations of the fund’s assets.

Date of Previous Announcement on Tadawul’s Website
2022-01-10 Corresponding to 1443-06-07

Percentage of fulfilled achievement
Not applicable

Event’s Expected Completion Date
Not applicable

Reasons for Exceeding the Announced End Date
Not applicable

The costs associated with the event, and if they have changed or not with indication of the reasons
Not applicable

Impact of the Delay on the Company’s Financial Results
Not applicable

Other Disclosures

Jabal Omar development company announces the submission of the application of the increase of the company’s capital through debt conversion to the capital market authority

Introduction Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 2091443 (corresponding to 2142022G) in relation to the recommendation of its Board of Directors to increase its capital through debt conversion, the Company announces that it has submitted an application to increase its capital to […]

Jabal Omar development company announces the appointment of a financial advisor to manage the application for the company’s capital increase through debt conversion

Introduction Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 06/02/1443H (corresponding to 13/09/2021G) that contains the appointment of SNB Capital as the Company’s financial advisor in relation to the Transaction, the Company announces that SNB Capital will manage the Company’s application to increase its […]

Jabal Omar development company announces the board’s recommendation to increase capital through debt conversion

Introduction Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 02/09/1443H (corresponding to 03/04/2022G) in relation to the execution of a legally binding transaction agreement with the manager of Alinma Makkah Real Estate Fund (the “Fund”) to implement the Transaction on 01/09/1443H (corresponding to 02/04/2022G), […]

Correction announcement from Jabal Omar Development Co. in regard to the consolidated financial results for the year ending on 12-31-2021

Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website 2022-04-03 Corresponding to 1443-09-02 URL of the Previous Announcement Click Here Incorrect statements in the previous announcement 1) We draw attention to note 1 of the consolidated financial statements, which describes that AlInma Makkah Real Estate Fund’s (“Fund”) balances and transactions as […]
Open form