JABAL OMAR DEVELOPMENT COMPANY 1443/04/09 Sun Nov 14, 2021 08:10:52
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| Element List | Explanation |
| Introduction |
Further to the announcement made by Jabal Omar Development Company (the "Company") published on the Saudi Exchange website on 6/2/1443H (corresponding to 13/9/2021G) in relation to the submission of a non-binding offer to the manager of Alinma Makkah Real Estate Fund (the "Fund") on behalf of the Fund for the full settlement of the Fund's assets and liabilities (the "Offer") in exchange for the issuance of new shares in the Company to the Fund unitholders (the "Transaction"), and whereby the Offer included a specific period of sixty (60) calendar days from the date of the Offer submission for the Fund manager to consider the Offer unless extended by the Company (the "Offer Period"); and given that discussions between the Company and the Fund manager are still ongoing in order to reach an agreement in respect of the Transaction and enter into a binding agreement thereof, the Company announces that it has extended the Offer Period until the end of the current Gregorian year.
The Company will announce any further material developments in relation to the Transaction in a timely manner as required by the relevant laws and regulations. |
| Previous Announcement | Jabal Omar Development Company announces the submission of a non-binding offer to the manager of the Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations in respect of the Fund's assets |
| Date of Previous Announcement on Tadawul's Website | 2021-09-13 Corresponding to 1443-02-06 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Reaching an agreement in respect of the Transaction is expected to be completed before the end of the current calendar year |
| Reasons for Exceeding the Announced End Date | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Impact of the Delay on the Company's Financial Results | Not applicable |
The Capital Market Authority and the Saudi Stock 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.
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Jabal Omar Development Company SJSC published this content on 14 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2021 18:59:01 UTC.
