Media
INVESTOR RELATIONS
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 7/12/1443H (corresponding to 7/6/2022G) in respect of the Company’s application to increase its capital through conversion of all debts owed by the Company towards the Alinma Makkah Real Estate Fund (the “Creditor”) to new ordinary shares.
The Company will complete the procedures for holding the extraordinary general assembly of its shareholders in coordination with the relevant authorities and will announce that at a later time. The shareholders’ circular regarding the capital increase by way of debt conversion will be published in advance of the date of the aforementioned extraordinary general assembly.
The Company will announce any further material developments in relation to this subject in a timely manner as required by the relevant laws and regulations.
Date of Announcing the Application on Tadawul Website
2022-04-28 Corresponding to 1443-09-27
Date of Submitting the File
2022-04-28 Corresponding to 1443-09-27
Application Status at CMA
The approval of the Capital Market Authority for the Company’s Capital Increase Application has been obtained.