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Arriyadh Development Co. — Capital/Financing Update 2025
Jan 8, 2025
53402_rns_2025-01-08_bb89f124-2f58-41fb-982a-886d65710f3e.html
Capital/Financing Update
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Arriyadh Development Co. Announces an update on Submitting a request file to increase the company’s capital to the Capital Market Authority
4150 · 08/01/2025 09:29:12 · Announcement #84617 · View on Saudi Exchange
Arriyadh Development Co. Announces an update on Submitting a request file to increase the company’s capital to the Capital Market Authority
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Riyadh Development Company regarding submitting a request file to increase the company’s capital to the Capital Market Authority |
| Previous Announcement | Submitting a request file to increase the company’s capital to the Capital Market Authority |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-10-09 Corresponding to 1446-04-06 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Riyadh Development Company (“ARDCO”) announces that it has obtained yesterday 07/01/2025 the Capital Market Authority’s approval for its request to increase the company’s capital from (1,777,777,770) Saudi Riyals to (2,339,308,180) Saudi Riyals by issuing (56,153,041) ordinary shares to Remat Al Riyadh Development Company for the purpose of acquiring two real estate assets owned by Remat Al Riyadh Development Company. |
The Extraordinary General Assembly will be called after obtaining the necessary approvals. The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable
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.