Arriyadh Development Co. — Capital/Financing Update 2025

Feb 16, 2025

Arriyadh Development Company announces the completion of the procedures of the acquisition of two real estate assets from Remat Al-Riyadh Development Company

4150 · 16/02/2025 08:02:35 · Announcement #85243 · View on Saudi Exchange

Arriyadh Development Company announces the completion of the procedures of the acquisition of two real estate assets from Remat Al-Riyadh Development Company

Element List

Explanation

Introduction

Further to the announcement made by Arriyadh Development Company (the "Company") published on the Saudi Stock Exchange's (Tadawul) website on 05/08/1446H (corresponding to 04/02/2025G) in respect of the results of the Company's extraordinary general assembly meeting, which approved the capital increase of the Company and the issuance of the new shares for the purposes of the acquisition of two real estate assets from Remat Al-Riyadh Development Company (the "Real Estate Assets") (hereinafter referred to as the “Transaction”), the Company would like to announce the effectiveness of the Transaction by transferring the ownership of the Real Estate Assets to the Company and the deposit of the new shares in favor of Remat Al-Riyadh Development Company and listing the new shared on the Saudi Exchange (Tadawul) on 14/08/1446H (corresponding to 13/02/2025G).

For further information about the Transaction, its impact and other matters related to it, please refer to the shareholders circular published by the Company on 13/07/1446H (corresponding to 13/01/2025G). Acquisition Procedures Conclusion Date 2025-02-13 Corresponding to 1446-08-14 Summary of Acquisition / Purchase The Transaction is represented by way of an acquisition by the Company of two real estate assets owned by Remat Al-Riyadh Development Company, namely: (1) raw land with an area of (787,477.19) square metres located north of Dammam Road, Al-Rimal District, Riyadh, Kingdom of Saudi Arabia; and (2) land plot with an area of (214,000) square metres located south of the Northern Ring Road, Al-Murooj District, Riyadh, Kingdom of Saudi Arabia, and allocating a total of fifty-six million, one hundred fifty-three thousand and forty-one (56,153,041) new ordinary shares to Remat Al-Riyadh Development Company, through increasing the Company's capital from one billion, seven hundred seventy-seven million, seven hundred seventy-seven thousand and seven hundred and seventy Saudi Riyals (SAR 1,777,777,770) to two billion, three hundred thirty-nine million, three hundred eight thousand and one hundred and eighty Saudi Riyals (SAR 2,339,308,180), which represents an increase of 31.58% of the current capital of the Company, and increasing the number of its shares from one hundred seventy-seven million, seven hundred seventy-seven thousand and seven hundred and seventy-seven (177,777,777) ordinary shares to two hundred thirty-three million, nine hundred thirty thousand and eight hundred and eighteen (233,930,818) ordinary shares. Related Parties The Transaction involved a related party, as Remat Al-Riyadh Development Company was deemed as such given that the chairman of the board of directors of the Company, who is also the chairman in Remat Al-Riyadh Development Company's board of directors, was serving as a representative of the Riyadh Region Municipality, which fully owns Remat Al-Riyadh Development Company. Financial Impact The financial impact will be positive for the Company upon completion of the planned projects on the Real Estate Assets related to the Transaction. Ownership and Legal Documents Transfer Conclusion Date 14/08/1446H (corresponding to 13/02/2025G).

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.