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Arriyadh Development Company announces the publication of the shareholders circular in relation to the company's capital increase for the purpose of acquiring two real estate assets

4150
ARDCO
-4.42 %
1446/07/13     13/01/2025 15:52:07

Element ListExplanation
Announcement Detail Further to the announcement made by Arriyadh Development Company (the “Company”) published on the Saudi Stok Exchange's (Tadawul) website on 28/02/1446H (corresponding to 01/09/2024G) in respect of signing an acquisition agreement of two real estate assets with Remat Al-Riyadh Development Company (as the seller) by means of a capital increase by issuing new shares to Remat Al-Riyadh Development Company in exchange for its in-kind contribution of such assets (the "Transaction"), whereas the Capital Market Authority has issued its approval on 07/01/2024G) in respect of the Company's application to increase its share capital for the purpose of the Transaction, and in reference to the announcement made by the Company published on the Saudi Stock Exchange's (Tadawul) website on 13/01/2025G whereby the Company's board of directors invited the shareholders to attend the extraordinary general assembly meeting that includes the increase of the Company's capital (the first meeting), which is scheduled to be held at 8 PM on Monday 04/08/1446H (corresponding to 03/02/2025G) via means of modern technology to vote on the decisions relating to the Transaction as detailed in the aforesaid invitation, the Company announces the publication of the shareholders circular issued by the Company to its shareholders which has been prepared in accordance with the requirements of Article (60) of the Rules on the Offer of Securities and Continuing Obligations in connection with the increase in the share capital of the Company for he purpose of the Transaction (the “Shareholders Circular”). The Shareholders Circular includes details of the Transaction, its terms and conditions and other related matters, including details of the related parties, the procedures required to effect the Transaction and the risks related to the Transaction.

The board of directors of the Company note that each shareholder must carefully read and consider all information contained in the Shareholders Circular prior to making their decision on how to vote on the Transaction. If in doubt as to the vote that such shareholder should make at the Company’s extraordinary general assembly meeting, such shareholder should consult an independent financial advisor licensed by the Capital Market Authority in relation to the Transaction and relies on its own examination of the Transaction with regard to such shareholder's individual objectives, financial situation and needs.

The Shareholders Circular is attached to this announcement. Copies of the Shareholders Circular can be obtained from the Company’s website at )https://riyadh.dev/investor-relations/ or the Capital Market Authority's website at (www.cma.com.sa (.

The Company will announce any further material developments on the Transaction in due time.

Attached Documents  

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.

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Last Price 33.5
Net Change -1.55 (-4.42%)
Value Traded (Sar) 9,660,628.55
Volume Traded 283,510
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