| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Emaar, the Economic City (the "Company") on the Saudi Exchange’s website on 05-03-1446H (corresponding to 08-09-2024G) regarding its Capital Optimisation Plan, and the previous announcements on the same date, which aims to improve the Company’s ability to move forward with its recovery and growth plans; the Company is pleased to announce the completion of all stages of its Capital Optimisation Plan. This included the rescheduling of banking facilities, obtaining a new shareholder loan, and the reduction of the Company's capital to extinguish accumulated losses, followed by a capital increase through debt conversion. |
| Previous Announcement | Announcement by Emaar, the Economic City regarding its Capital Optimization Plan. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-09-08 Corresponding to 1447-07-03 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The completion of all elements of the Capital Optimisation Plan, which included the rescheduling of banking facilities, obtaining a new shareholder loan, and the reduction of the Company’s capital to extinguish accumulated losses, followed by the increase of the Company’s capital through debt conversion. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable. |
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