Arriyadh Development Co. — Capital/Financing Update 2024

Oct 9, 2024

Riyadh Development Company announces the submission of a request file to increase the company’s capital to the Capital Market Authority

4150 · 09/10/2024 08:10:07 · Announcement #82854 · View on Saudi Exchange

Riyadh Development Company announces the submission of a request file to increase the company’s capital to the Capital Market Authority

Element List

Explanation

Announcement Detail

Further to the announcement of Riyadh Development Company (the "Company") on the Saudi Stock Exchange (Tadawul) dated 28/2/1446H (corresponding to 1/9/2024G) in relation to the signing of an acquisition agreement of two real estate assets with Remat Al-Riyadh Development Company by means of a share capital increase through the issuance of new shares to Al-Riyadh Development Company in exchange for its in-kind contribution of such assets in the Company (the "Transaction"), the Company announces the submission of the share capital increase application regarding the Transaction to the Capital Market Authority on 05/04/1446H corresponding to 08/10/2024G for its approval.

The Company will announce any future developments in this regard in due course.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.