Banan Real Estate Company Announces the Approval of the Extraordinary General Assembly of Its Subsidiary “Qimam Noshoz Real Estate Development Company (Simplified Joint Stock Company)” to Increase the Company’s Capital from 71 million riyals to 110 million riyals.

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25/05/2025

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Announcement Detail	Banan Real Estate Company Announces the Approval of the Extraordinary General Assembly of Its Subsidiary "Qimam Noshoz Real Estate Development Company (Simplified Joint Stock Company)" to Increase the Company’s Capital Banan Real Estate Company announces the approval of the Extraordinary General Assembly of its subsidiary, Qimam Noshoz Real Estate Development Company (Simplified Joint Stock Company), held on May 25, 2025, to increase the company’s capital from SAR 71,000,000 to SAR 110,000,000 through the issuance of 3,900,000 new shares at a nominal value of SAR 10 per share. Banan Real Estate Company also announces that its Board of Directors, in its meeting held on May 25, 2025, approved the subscription of both the company and its subsidiary, Al-Aziza Investment and Real Estate Development Company, in a total of 2,536,881 shares, as follows: 1. Banan Real Estate Company: o Will subscribe to 1,296,629 shares, with a total value of SAR 12,966,290. o Its ownership in Qimam Noshoz Real Estate Development Company will increase to 26.63% after the capital increase, up from 23% before the increase. 2. Al-Aziza Investment and Real Estate Development Company: o Will subscribe to 1,240,253 shares, with a total value of SAR 12,402,530. o Its ownership will increase to 25.48% after the capital increase, up from 22% before the increase. As a result, the combined ownership of Banan Real Estate Company and its subsidiary, Al-Aziza Investment and Real Estate Development Company, in Qimam Noshoz Real Estate Development Company will rise to 52.11%, compared to 45% prior to the capital increase. Banan Real Estate Company affirms that this step aligns with its strategy to support the growth and expansion plans of its subsidiary, thereby strengthening its financial position and positively impacting the company’s consolidated financial results.

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Announcement Detail

Banan Real Estate Company Announces the Approval of the Extraordinary General Assembly of Its Subsidiary "Qimam Noshoz Real Estate Development Company (Simplified Joint Stock Company)" to Increase the Company’s Capital Banan Real Estate Company announces the approval of the Extraordinary General Assembly of its subsidiary, Qimam Noshoz Real Estate Development Company (Simplified Joint Stock Company), held on May 25, 2025, to increase the company’s capital from SAR 71,000,000 to SAR 110,000,000 through the issuance of 3,900,000 new shares at a nominal value of SAR 10 per share. Banan Real Estate Company also announces that its Board of Directors, in its meeting held on May 25, 2025, approved the subscription of both the company and its subsidiary, Al-Aziza Investment and Real Estate Development Company, in a total of 2,536,881 shares, as follows: 1. Banan Real Estate Company: o Will subscribe to 1,296,629 shares, with a total value of SAR 12,966,290. o Its ownership in Qimam Noshoz Real Estate Development Company will increase to 26.63% after the capital increase, up from 23% before the increase. 2. Al-Aziza Investment and Real Estate Development Company: o Will subscribe to 1,240,253 shares, with a total value of SAR 12,402,530. o Its ownership will increase to 25.48% after the capital increase, up from 22% before the increase. As a result, the combined ownership of Banan Real Estate Company and its subsidiary, Al-Aziza Investment and Real Estate Development Company, in Qimam Noshoz Real Estate Development Company will rise to 52.11%, compared to 45% prior to the capital increase. Banan Real Estate Company affirms that this step aligns with its strategy to support the growth and expansion plans of its subsidiary, thereby strengthening its financial position and positively impacting the company’s consolidated financial results.

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