Jabal Omar shareholders to vote on 24.2% capital increase on Aug. 25

Jabal Omar Development Co. shareholders will vote on increasing capital by 24.22% through converting all debts owed by the company to Alinma Makkah Real Estate Fund into new ordinary shares, during an extraordinary general assembly meeting, scheduled to be held on Aug. 25, according to a bourse filing.
 

On April 20, Jabal Omar’s board of directors recommended a capital increase from SAR 9.29 billion to SAR 11.55 billion by issuing 225.13 million shares, Argaam earlier reported.
 

Capital will be increased by converting SAR 5.30 billion of debt owed to Alinma Makkah Real Estate Fund, as per the unaudited consolidated financial statements for the three- and nine-month periods ended on Sept. 30, 2021.