Element List Explanation
Introduction Retal Urban Development Company (“Retal”) announces the latest developments relating to the acquisition by Ajdan Real Estate Development Company (“Ajdan”) of the entire shareholding of Sumou International Investment Company (“Sumou”) in Ajdan, which represented 5% of Ajdan’s share capital prior to the reduction of its share capital. The acquired shares were held as treasury shares and were subsequently cancelled, with Ajdan’s share capital being reduced accordingly. As a result, the percentage of Ajdan’s share capital represented by the shares subject to the acquisition changed from 47.5% to 50%.
Previous Announcement Retal Urban Development Co. announces an update on Company's announcement of submitting offers to other shareholders to acquire their entire stake in Ajdan Real Estate Development Company
Date of Previous Announcement on Saudi Exchange’s Website 2026-02-23 Corresponding to 1447-09-06
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event With reference to Retal’s announcement published on the Saudi Exchange’s website on 6th of Ramadan 1447H (corresponding to 23rd of February 2026G) regarding its offers to the other shareholders of Ajdan to acquire all of their shares in Ajdan, Retal announces that, in March 2026, Ajdan acquired all of the shares held by Sumou in Ajdan, comprising 1,500,000 shares, which represented 5% of Ajdan’s share capital prior to the reduction of its share capital, and the acquired shares were held as treasury shares. Retal has been informed by Ajdan that Ajdan’s extraordinary general assembly approved the cancellation of the treasury shares and the corresponding reduction of Ajdan’s share capital.

 

 

As a result of the cancellation of the treasury shares and the reduction of Ajdan’s share capital, the number of issued shares of Ajdan decreased from 30,000,000 shares to 28,500,000 shares. Accordingly, the 14,250,000 shares subject to the acquisition pursuant to the share swap agreement entered into between Retal and Al Fozan Holding Company on 14th of February 2026G now represent 50% of Ajdan’s share capital, instead of 47.5%.

 

This does not result in any change to the number of shares subject to the acquisition, the agreed consideration, the exchange ratio or any of the economic or legal terms of the acquisition. The number of shares subject to the acquisition remains unchanged at 14,250,000 shares, and the agreed consideration also remains unchanged, consisting of the issuance of 55,000,000 new ordinary shares in Retal to Al Fozan Holding Company.
Reasons For The Delay on The Date of The Event Previously Announced Not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable
Delay consequences on the Company’s financial results Not applicable
Additional Information For inquiries, please contact the Investor Relations Department via:

 

Phone: +966138013803

 

Email: ir@retal.com.sa

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