Abdulmohsen Alhokair Group for Tourism and Development Announces Board's Recommendation to Decrease the Company's Capital

Element List	Explanation
Introduction	Abdul Mohsen Al Hokair Group for Tourism and Development Company announces that the Board of Directors decided by passing in its meeting held on Monday 14/11/1443 AH corresponding to 13/06/2022 AD to recommend to the Extraordinary General Assembly to reduce the company’s capital, according to the following detail:
Date of Board Meeting	2022-06-13 Corresponding to 1443-11-14
Capital before decrease	650,000,000 Saudi riyal
Capital after decrease	350,000,000 Saudi riyal
Percentage of Capital decrease	46.15 %
Number of Shares before Decrease	65000000
Number of Shares after Decrease	35000000
Reasons for the Capital Decrease	Restructuring the company’s capital to amortize (98.79%) of the accumulated losses as on March 31, 2022.
Method of Capital Decrease	-Cancellation of (30,000,000) shares of the company's shares

- Amortization of (98.79%) of the accumulated losses as on March 31, 2022 AD

- Three (3) shares will be canceled for every (6.5) shares of the issued company's shares. Impact of the Capital Decrease on the Company's Obligations, Operations or Operational, Financial or Organizational Performance of the Company There is no material effect of reducing the company's capital on its obligations. Date of reduction The End of the Second Trading Day after the Extra Ordinary General Assembly Meeting in which Decrease was Resolved Approvals The reduction of the company's capital is conditional on the approval of the relevant official authorities and the extraordinary general assembly of the company. Appointment of a Financial Advisor and the Submission of the Application for Capital Decrease to CMA Yaqeen Capital has been appointed as a financial advisor to manage the Company's capital reduction process and all related procedures.

An announcement will be made when the capital reduction application file is submitted to the Capital Market Authority for approval, In addition to any future developments that may occur.

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.