Jabal Omar extends offer of Al-Inma Makkah on rights and obligations settlement

Jabal Omar Development Company announced that it has extended the non-binding offer submitted to the manager of Alinma Makkah Real Estate Fund relating to the full settlement of the rights and obligations of the fund’s assets Period until the end of the current Gregorian year.

This comes further to the announcement made by Jabal Omar Development Company  published on the Saudi Exchange website on 13/9/2021 in relation to the submission of a non-binding offer to the manager of Alinma Makkah Real Estate Fund on behalf of the Fund for the full settlement of the Fund’s assets and liabilities in exchange for the issuance of new shares in the Company to the Fund unitholders, 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.