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INVESTOR RELATIONS

JODC announces on the latest developments on the signing of a MOU with Albilad Capital to sell units in phase 2 of the project in Makkah.

Reference to the declaration of Jabal Omar Development Company (JODC), published on the Capital Market Authority (CMA) website on 1/8/1438, – 27/4/2017.

On Wednesday, 30/8/2017 – 8/12/1438, JODC would like to declare that the extension of the signed MoU with Albilad Capital (The investment banking arm for Bank Albilad, licensed by the CMA) in 1/8/1438, – 27/4/2017.

The MoU is for Albilad Capital to establish a real estate fund to sell 93 residential apartments in phase two of Jabal Omar project. It was agreed to extend the MoU for a 5 months, until in 22/1/2018 under the same terms and conditions to complete the legal and financial due diligence and obtain CMA approval.

All acquisition procedures is expected to be completed during the current financial year. The financial impact will be positive on the company’s revenues and shareholders’ equity.
Knowing that there are related parties, as follows:
1. Chairman Mr. Abdulaziz Mohammed Al Subeaei.
2. Member of the Board of Directors Eng. Anas Mohamed Serafi.

The corporate governance standards has been applied with respect to this deal, the matter will be presented before the company’s next General Assembly for approval.

Other Disclosures

Correction announcement from Jabal Omar Development Company regarding the fractional shares resulting from the capital increase of the Company by way of debt conversion

Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website 2022-09-05 Corresponding to 1444-02-09 Hyperlink to the Previous Announcement Click Here Incorrect statements in the previous announcement There are no fractional shares resulting from the capital increase of the Company. Correct Statement There are fractional shares resulting from the capital increase of […]

Jabal Omar Development Company announces that there are no fractional shares resulting from the capital increase of the Company by way of debt conversion

Announcement Detail With reference to the announcement of Jabal Omar Development Company (the “Company”) on the Saudi Stock Exchange’s (Tadawul) website on 05/02/1444H (corresponding to 01/09/2022G) in relation to the completion of the Transaction and the listing of the New Shares that have been issued with respect to the Transaction to the eligible unitholders of […]

Jabal Omar Development Company Announces the Listing of the Consideration Shares and the Completion of the Transaction

Announcement Detail In reference to the announcement made by Jabal Omar Development Company (the “Company”) on the Saudi Stock Exchange (Tadawul) website on 01/02/1444H (corresponding to 28/08/2022G) in relation to the results of the extraordinary general assembly meeting that included the approval to increase the share capital of the Company in order to settle all […]

Jabal Omar Development Co. Announces Resignation and Appointment of a Board Member

Introduction Jabal Omar Development Company announces that the Board approved the resignation of Dr. Abdulraouf M. Mannaa, and the appointment of Mr. Saleh Abdullah Alzumai as a member of the Board of Directors. On this occasion, the board extends its sincere thanks to DR. Abdulraouf Mannaa for his efforts during his term of membership in […]
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