Jabal Omar Development Co. — Capital/Financing Update 2022

Apr 28, 2022

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

4250 · 28/04/2022 16:38:06 · Announcement #68022 · View on Saudi Exchange

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

Element List	Explanation
Introduction	Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 20\9\1443 (corresponding to 21\4\2022G) 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
Additional Information	The Company will announce any further material developments in this regard in a timely manner as required by the relevant laws and regulations.

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