Media

INVESTOR RELATIONS

Jabal Omar Development Company announces the publication of the shareholders circular regarding the capital increase by way of debt conversion

Announcement Detail
Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange (Tadawul) website on 2/9/1443H (corresponding to 3/4/2022G) in respect of its entry into a binding implementation agreement with the fund manager of Alinma Makkah Real Estate Fund (the “Fund”) on behalf of the Fund pursuant to which the parties agreed to settle in full all of the rights and obligations in connection to the Fund’s assets by way of increasing the Company’s share capital via converting the debt owed by the Company to the Fund (the “Transaction”), and whereas the Company has announced on 14/12/1443H corresponding to 13/7/2022G the issuance of the approval of the Capital Market Authority (CMA) dated 7/12/1443H (corresponding to 6/7/2022G) in respect of the Company’s application to increase its capital in respect of the Transaction; and with reference to the board of directors’ invitation published on Tadawul on 6/1/1444H (corresponding to 4 August 2022G) to the Company’s shareholders to attend the extraordinary general assembly meeting which will take place at 19:30 on Thursday 27/1/1444H (corresponding to 25 August 2022G), to vote on the decisions relating to the Transaction as detailed in the aforesaid invitation, the Company announces the publication of the Shareholders Circular issued by the Company to its shareholders which has been prepared in accordance with the requirements of Article (56) of the Rules on the Offer of Securities and Continuing Obligations in connection with the increase in the share capital of the Company via debt conversion (the “Shareholders’ Circular”). The Shareholders Circular includes details of the Transaction, its terms and conditions and other related matters, including details of the related parties, the procedures required to effect the Transaction and the risks related to the Transaction.
The board of directors of the Company notes that each shareholder must carefully read and consider all information contained in the Shareholders Circular prior to making their decision on how to vote on the Transaction. If in doubt as to the vote that such shareholder should make at the Company’s extraordinary general assembly meeting, the board of directors recommends that such shareholder consults an independent financial advisor licensed by the CMA in relation to the Transaction and relies on its own examination of the Transaction with regard to such shareholder’s individual objectives, financial situation and needs.

The Circular is attached to this announcement. Copies of the Circular can be obtained from the Company’s website at ( //jabalomar.com.sa/disclosure/ ) or the CMA’s website at (www.cma.org.sa ).

The Company will announce any further material developments on the Transaction in due time.
Attachment
Attached Documents

Other Disclosures

Jabal Omar Development Company announces the signing of Murabaha facility agreement with Al Rajhi Bank.

Introduction Jabal Omar Development Company announces the signing of SR 1.9 billion facility agreement with Al Rajhi Bank. Date of obtaining the funding 2024-01-25 Corresponding to 1445-07-13 Financing entity Al Rajhi Bank. Financing amount SR 1.900.000.000 Financing duration 2 years Guarantees offered for the financing Security over certain real estate assets within the Jabal Omar […]

Jabal Omar Development Company announces the receipt of a license from the Ministry of Tourism to operate the second tower of Jabal Omar Jumeirah Hotels in its project in Makkah

Announcement Detail Jabal Omar Development Company announces that it has received on Thursday 18 Jan 2024, the license of the Ministry of Tourism to operate the second tower of the Jabal Omar Jumeirah hotel with a five-star rating. The second tower includes 244 luxurious and modern style rooms and suites in addition to a restaurant, […]

Jabal Omar Development Company announces that it has obtained an initial permit from the Ministry of Hajj and Umrah to provide service to pilgrims abroad

Announcement Detail Jabal Omar Development Company announces that it has obtained an initial permit from the Ministry of Hajj and Umrah to provide Hajj service to pilgrims abroad for (80) thousand pilgrims. The company is currently working on completing the necessary procedures to obtain the final permit. This comes within the company’s strategy to enhance […]

Jabal Omar Development Company announces the liquidation of Aliyat Marketing Company

Announcement Detail Jabal Omar Development Company announces that the liquidation of Aliyat Company – a one-person closed joint stock company wholly owned by the company with a capital of five million six hundred thousand Saudi riyals. It should be noted that the activity of Aliyat Company has been merged into Jabal Omar Company, and therefore […]
Open form