Jabal Omar Development Co. — Capital/Financing Update 2024

Sep 2, 2024

Jabal Omar Development Co. Announces updates on Increase of the Company’s Capital through Debt Conversion File at CMA

4250 · 02/09/2024 08:02:40 · Announcement #82374 · View on Saudi Exchange

Jabal Omar Development Co. Announces updates on Increase of the Company’s Capital through Debt Conversion File at CMA

Element List

Explanation

Introduction

Further to the announcement made by Jabal Omar Development Company (the “Company”) published on the Saudi Exchange website on 24/9/1445H (corresponding to 3/4/2024G) 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 28/2/1445H (corresponding to 1/9/2024G) in respect of the Company’s application to increase its capital through conversion of all debts owed by the Company towards the Central District Cooling Company (as the first creditor) and Makkah Construction and Development Company (as the second 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 Saudi Exchange’s Website 2024-04-03 Corresponding to 1445-09-24 Date of Submitting the File 2024-04-03 Corresponding to 1445-09-24 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.