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
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 the Capital Market Authority.
Date of Submitting the Application File to CMA
2022-04-28 Corresponding to 1443-09-27
Application Subject Increase the capital of Company through debt conversion of all debts towards the Alinma Makkah Real Estate Fund (the “Fund”) in the amount of five billion and three hundred and one million and two hundred and one thousand and eighty Saudi Riyals (SAR 5,301,201,080), as recorded in the Company’s unaudited interim condensed consolidated financial statements for the three-month and nine-month periods ended on 30 September 2021G (including the settlement of all rights and obligations owed by the Company to the Fund and its related entities).
Date of Announcing Board Recommendation to Increase the Company’s Capital By Debt Conversion on Tadawul’s Website
2022-04-21 Corresponding to 1443-09-20
The Company will announce any further material developments in this regard in a timely manner as required by the relevant laws and regulations.