Abdullah Al Othaim Markets Co. — Capital/Financing Update 2015

Feb 3, 2015

Addendum announcement by Abdullah Al Othaim Markets Company related to the MOU singed with AGAD United Company for Investment (AGAD)

4001 · 03/02/2015 15:50:50 · Announcement #36991 · View on Saudi Exchange

Addendum announcement by Abdullah Al Othaim Markets Company related to the MOU singed with AGAD United Company for Investment (AGAD)

Further to the announcement made by Abdullah Al Othaim Markets Company (The Company) published on Tadawul website on 13 October 2014, regarding signing a non-binding MOU with AGAD United Company for Investment (AGAD) a sister of ALBAIK Food Systems Company Ltd., and to the Addendum announcement published on 08 January 2015 with regard to the extension of the MOU term.

The Company announces that it has signed today 03 February 2015 a binding shareholder agreement (The Agreement) to establish a limited liability company with a share capital of one hundred million Saudi Riyals .The purpose of this company is to obtain exclusive license rights to open, operate and manage the (ALBAIK) restaurants in Al Qassim region. The company's headquarters will be in the Kingdom of Saudi Arabia. The Agreement states that (25%) of the share capital will be owned by The Company, while (75%) will be owned by AGAD, and to obtain the necessary approvals to establish the company by or before 15 February 2015. The term of The Agreement is (25) years renewable for other similar periods by mutual consent of the parties.

The two parties are working on to finalize the necessary procedure to establish the company in conformity with applicable regulations. Any further material developments will be announced.

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.