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INVESTOR RELATIONS

Jabal Omar Development Co. 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 6/2/1443H (corresponding to 13/9/2021G) in relation to the submission of a non-binding offer to the manager of Alinma Makkah Real Estate Fund (the “Fund”) on behalf of the Fund for the full settlement of the Fund’s assets and liabilities (the “Offer”) in exchange for the issuance of new shares in the Company to the Fund unitholders (the “Transaction”), and whereby the Offer included a specific period of sixty (60) calendar days from the date of the Offer submission for the Fund manager to consider the Offer unless extended by the Company (the “Offer Period”); and given that discussions between the Company and the Fund manager are still ongoing in order to reach an agreement in respect of the Transaction and enter into a binding agreement thereof, the Company announces that it has extended the Offer Period until the end of the current Gregorian year.

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
Jabal Omar Development Company announces the submission of a non-binding offer to the manager of the Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations in respect of the Fund’s assets

Date of Previous Announcement on Tadawul’s Website
2021-09-13 Corresponding to 1443-02-06

Percentage of fulfilled achievement
Not applicable

Event’s Expected Completion Date
Reaching an agreement in respect of the Transaction is expected to be completed before the end of the current calendar year

Reasons for Exceeding the Announced End Date
Not applicable

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

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

Other Disclosures

Jabal Omar Development Company (“JODC”, the “Company”) received the approval of the Ministry of Finance (“MoF”) to restructure its SAR 3.0bn loan

Introduction JODC makes reference to its announcement on Tadawul dated 13 December 2011 regarding the receipt of a SAR 3.0bn loan from MoF (the “Existing Loan”), and further to its announcement dated 29 March 2020 regarding MoF’s approval for extending the maturity of the Existing Loan and providing support to restructure the Company’s remaining loans. […]

Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

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Jabal Omar Development Company announces restructuring of the Islamic term financing provided by SABB and SNB

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Jabal Omar Development Company announces selling a land plot in its project located in Makkah

Transaction Details On 29 September 2021, Jabal Omar Development Company sell a land plot with a total area of 2,600 sqm located within its project in Makkah Transaction Value SR 517,463,680 in addition to the buyer bearing the real estate transaction tax and brokerage fees Transaction Terms No transaction terms Parties of the Transaction Jabal […]
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