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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 announce appointing the Chairman and Vice Chairman of the Board of Directors

Jabal Omar Development Company announces the appointment of Mr. Saeed Mohammed Alghamdi as Chairman of the board and Mr. Thalib Ali AlShamarani as Vice Chairman, effectively from June 30, 2021 and for a period of three years.

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

Introduction Jabal Omar Development Company announces the results of the 12th Ordinary 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 2021-05-27 Corresponding to 1442-10-15 Time of the General Assembly’s Meeting 19:30 Percentage of Attending Shareholders 28.33 % Names […]

Jabal Omar Development Company announces starting the electronic voting on the agenda items of the 12th General Assembly Meeting (First Meeting) (Reminder Announcement)

With reference to the company’s announcement on Tadawul dated 23 May 2021 regarding starting the electronic voting on the agenda items of the General Assembly Meeting; which will be held on Thursday 15 Shawwal 1442, corresponding to 27 May 2021 at 7:30 p.m. by means of modern technology. The Company would like to remind shareholders […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE Sales/Revenue21.57189.79-88.63431.72-31.998 Gross Profit (Loss) -88.45-1.685,164.88-176.57-49.906 Operational Profit (Loss)-137.57-84.1463.501-330.57-58.384 Net Profit (Loss) after Zakat and Tax-345.3-237.8645.169-421.23-18.025 Total Comprehensive Income -345.3-237.8645.169-423.05-18.378 All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Total Share Holders Equity (after Deducting Minority Equity)6,643.048,074.85-17.731 Profit (Loss) per Share-0.37-0.26 All […]
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