Jabal Omar Development Co. — Capital/Financing Update 2022

Jul 13, 2022

JABAL OMAR DEVELOPMENT COMPANY ANNOUNCES THE LATEST DEVELOPMENTS REGARDING THE CAPITAL INCREASE APPLICATION VIA DEBT CONVERSION SUBMITTED TO THE CAPITAL MARKET AUTHORITY

4250 · 13/07/2022 08:18:27 · Announcement #69215 · View on Saudi Exchange

JABAL OMAR DEVELOPMENT COMPANY ANNOUNCES THE LATEST DEVELOPMENTS REGARDING THE CAPITAL INCREASE APPLICATION VIA DEBT CONVERSION SUBMITTED TO THE CAPITAL MARKET AUTHORITY

Element List

Explanation

Introduction

Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 27/9/1443H (corresponding to 28/4/2022G) in relation to submitting an application to increase its capital through debt conversion to the Capital Market Authority (CMA), the Company is pleased to announce the issuance of CMA’s approval dated 7/12/1443H (corresponding to 7/6/2022G) in respect of the Company’s application to increase its capital through conversion of all debts owed by the Company towards the Alinma Makkah Real Estate Fund (the “Creditor”) to new ordinary shares.

The Company will complete the procedures for holding the extraordinary general assembly of its shareholders in coordination with the relevant authorities and will announce that at a later time. The shareholders’ circular regarding the capital increase by way of debt conversion will be published in advance of the date of the aforementioned extraordinary general assembly.

The Company will announce any further material developments in relation to this subject in a timely manner as required by the relevant laws and regulations. Date of Announcing the Application on Tadawul Website 2022-04-28 Corresponding to 1443-09-27 Date of Submitting the File 2022-04-28 Corresponding to 1443-09-27 Application Status at CMA The approval of the Capital Market Authority for the Company’s Capital Increase Application has been obtained. Other Substantial Updates 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.