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Asharqiyah Development Company announces the publication of the circular of shareholders regarding the company's capital increase for the purpose of acquiring real estate assets

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Announcement Detail With reference to the announcement of the Capital Market Authority on the Tadawul platform issued on Thursday 08/04/1441 H corresponding to 05/12/2019, in which it announced the approval of the Capital Market Authority to increase the capital of the Asharqiyah Development Company for the purpose of acquiring real estate assets in the city of Riyadh.

It is a pleasure for the Board of Directors of the Asharqiyah Development Company to announce its publication to circulate it among shareholders for an increase in the company's capital and the subsequent acquisition of real estate assets in the city of Riyadh, which will be available to all shareholders of Asharqiyah Development Company on a Tadawul trading platform starting from today, Tuesday 13/04/1441 H corresponding to 10/12/2019.

With confirmation that the management of the Asharqiyah Development Company has taken into account the design and preparation of the shareholders circular according to the requirements of the rules for offering securities in accordance with Resolution No. 3-123-2017 on 09/04/1439 H corresponding to 27/12/2017 according to the regulations of the financial market and amended by the Board’s decision The Capital Market Authority 3-45-2018 on 07/08 /1439 H corresponding to 23/04/2018 and the Companies Law issued in accordance with the Royal Decree M / 3 dated 28/01/1437 H corresponding to 10/11/2015 and amended by Royal Decree No. M / 79 dated 25/07/1439H corresponding to 11/04/ 2018.

The Board of Directors of Asharqiyah Development Company confirms that the circular of shareholders includes all important information and documents related to the company's capital increase and real estate acquisition deal, so the company’s board of directors hopes that all shareholders of the company will be informed of the shareholders' circular for this deal.

God bless & grants success ..

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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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