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INVESTOR RELATIONS

JODC announces its Subscription with an In-Kind Share in Alinma Makkah Real Estate Fund worth One Billion Riyals

JODC announces that on 22nd of October 2017 it has been confirmed that the company has subscribed to Alinma Makkah Real Estate Fund with an in-kind share worth one billion riyals deducted from the sale amount; as stated in the company’s announcement on Tadawul’s website on 25/8/2016 and the announcement published on 22/3/2017.

Alinma Investment Company has previously announced the successful offering of Alinma Makkah Real Estate Fund with a total number of subscriptions exceeding 13.5 billion riyals.

The Fund Manager will announce the allocation process within a period no later than 15 business days from the closing date of the subscription period on 17/10/2017.

According to the Fund’s terms and conditions mentioned in the offering memorandum, the mentioned fund was established to acquire three hotels and two shopping malls from JODC, worth 6 billion riyals. The Fund’s term is 5 renewable years; and during this period, JODC will lease the assets from the Fund at a value equivalent to 540 million riyals annually. Furthermore, the Fund grants the right to repurchase to Jabal Omar at any time from the beginning of the sixth year to the end of the tenth year, with the same purchase value amounting to six billion Saudi Riyals; and the relevant party is the CEO of JODC; being a member of the Fund’s Board of Directors.
The financial impact will be positive on shareholders’ equity starting from the fourth quarter of the year 2017; as the annual lease value that will be paid to the Fund will be reduced under this subscription.

Any developments will be announced after the final allocation.

Other Disclosures

Jabal Omar Development Company announces the publication of the shareholders circular regarding the capital increase by way of debt conversion

Announcement Detail Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange (Tadawul) website on 2/9/1443H (corresponding to 3/4/2022G) in respect of its entry into a binding implementation agreement with the fund manager of Alinma Makkah Real Estate Fund (the “Fund”) on behalf of the Fund pursuant to […]

Jabal Omar Development Company invites its shareholders to attend the extraordinary general assembly meeting (first meeting), which includes the increase of its share capital, remotely through modern technology

Introduction The Board of Directors of Jabal Omar Development Company are pleased to invite the shareholders to attend the Extraordinary General Assembly’s meeting of the company, which will be conducted virtually via Tadawulaty Platform. City and Location of the Extraordinary General Assembly’s Meeting Makkah – the company’s headquarters- by Means of Modern Technology URL for […]

Jabal Omar Development Company announces the latest developments regarding the capital increase application via debt conversion submitted 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 27/9/1443H (corresponding to 28/4/2022G) in relation to submitting an application to increase its capital through debt conversion to the Capital Market Authority (CMA), the Company is pleased to announce the issuance of CMA’s approval dated […]

Jabal Omar Development Company announces the results of the 12th Extraordinary General Assembly Meeting (The First Meeting)

Introduction Jabal Omar Development Company announces the results of the 12th Extraordinary General Assembly Meeting (The First Meeting) City and Location of the General Assembly’s Meeting By Means of Modern Technology Date of the General Assembly’s Meeting 2022-06-29 Corresponding to 1443-11-30 Time of the General Assembly’s Meeting 19:30 Percentage of Attending Shareholders 54,34 % Names […]
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