Addendum Announcement from Dar Alarkan Real Estate Development Co. in regards to strategic developments for subsidiary in Dubai
| Element List | Explanation |
|---|---|
| Introduction | Further to the company's announcements published on Tadawul website on dates 06/11/2022 and 29/12/2022 regarding strategic plans for one of its subsidiaries in Dubai |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2022-12-29 Corresponding to 1444-06-05 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Further to the announcements made on dates 06/11/2022 and 29/12/2022, the Board of Dar Al Arkan Real Estate Development Company PJSC is pleased to announce that Dar Global PLC (“Dar Global”), the UK incorporated holding company for its Dubai headquartered international property development business, has published a prospectus (“Prospectus”) which has been approved by the UK Financial Conduct Authority in relation to its proposed direct listing on the standard listing segment of the Official List of the UK Financial Conduct Authority and to the London Stock Exchange's main market for listed securities (“Admission").
Admission, and commencement of dealings in Dar Global’s shares on the London Stock Exchange, is expected to occur at 08.00 a.m. GMT on 28 February 2023. A copy of the announcement released by Dar Global PLC in respect of the publication of the Prospectus and Admission, and a copy of the Prospectus, is available at Dar Global’s website: www.darglobal.co.uk subject to certain access restrictions. |
| Financial Impact on the change | Dar Al Arkan Real Estate Development Company would like to clarify that there is no material financial impact on it and Dar Global company, and any further updates in this regard will be announced later. |
| Additional Information | None |
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