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INVESTOR RELATIONS

JODC announces the latest developments on adjusting the Saudi Ministry of Finance’s loan

Referring to JODC’s announcement posted on the Saudi Stock Exchange (Tadawul) dated 18/1/1433 – 13/12/2011 on signing of a Financing Loan Agreement with the Ministry of Finance, under which the Saudi Ministry of Finance will provides a business loan to JODC in the amount of three billion Saudi Riyals.

JODC would like clarify that it is currently working with the Ministry of Finance to transfer the loan to a MURABAHA loan compatible with the provisions of the Islamic Sharia.

According to the Financing Loan Agreement, JODC is entitled to transfer the current loan to a loan compatible with the Islamic Sharia law, which requires changing existing contracts to an Islamic Murabaha Facility Agreement. Under which the loan to be compatible with the provisions of Islamic Sharia law, and the statute of the company. The synchronization process is expected to be completed on the third quarter of 2017.

The same will also maintain the financial value of the loan, and there will not be any financial impact on the company’s financial statements.

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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