Media

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

Jabal Omar development company announces the submission of the application of the increase of the company’s capital through debt conversion 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 2091443 (corresponding to 2142022G) in relation to the recommendation of its Board of Directors to increase its capital through debt conversion, the Company announces that it has submitted an application to increase its capital to […]

Jabal Omar development company announces the appointment of a financial advisor to manage the application for the company’s capital increase through debt conversion

Introduction Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 06/02/1443H (corresponding to 13/09/2021G) that contains the appointment of SNB Capital as the Company’s financial advisor in relation to the Transaction, the Company announces that SNB Capital will manage the Company’s application to increase its […]

Jabal Omar development company announces the board’s recommendation to increase capital through debt conversion

Introduction Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 02/09/1443H (corresponding to 03/04/2022G) in relation to the execution of a legally binding transaction agreement with the manager of Alinma Makkah Real Estate Fund (the “Fund”) to implement the Transaction on 01/09/1443H (corresponding to 02/04/2022G), […]

Correction announcement from Jabal Omar Development Co. in regard to the consolidated financial results for the year ending on 12-31-2021

Date of Publishing the Previous Announcement Sought to be Corrected on Tadawul’s Website 2022-04-03 Corresponding to 1443-09-02 URL of the Previous Announcement Click Here Incorrect statements in the previous announcement 1) We draw attention to note 1 of the consolidated financial statements, which describes that AlInma Makkah Real Estate Fund’s (“Fund”) balances and transactions as […]
Open form