Al Hammadi Holding — Capital/Financing Update 2015

Apr 23, 2015

Al-Hammadi Company for Development and Investment announces the development of use of proceeds of its IPO

4007 · 23/04/2015 16:01:11 · Announcement #38417 · View on Saudi Exchange

Al-Hammadi Company for Development and Investment announces the development of use of proceeds of its IPO

Alhammadi Company for Development and Investment announces the development of use of proceeds of its IPO that took place in 13-08-1435H to 19-08-1435H corresponding to 11-06-2014G to 17-06-2014G as follows:

1. IPO gross proceeds amounted to SAR 630 million.

2. IPO net proceeds amounted to SAR 605.3 million after deducting IPO expenses of SAR 24.7 million.

3. Total proceeds used as of 31 March 2015 are SAR 293.8 million for Al-Hammadi Hospital Al-Nuzha branch out of which SAR 158.3 million was used for early settlement of loans used for Al-Hammadi Hospital Al-Nuzha branch including SAR 55.5 million as mentioned in the prospectus.

4. Al-Hammadi Hospital Al-Nuzha branch completion rate is 68.5 % as of 31 March 2015 as compared to 45% as stated in the prospectus.

5. Payments against work in progress are as per the payment terms agreed with suppliers and do not necessarily reflect the project completion rates.

6. The project is progressing in accordance with the plan disclosed in the prospectus. However, the company would like to highlight that the shareholders at the Ordinary General Assembly Meeting which took place on 15 April 2015 have approved a revised plan to increase Al-Hammadi Hospital Al-Nuzha branch planned capacity from 428 beds to 600 beds with an estimated cost of SAR 20 million, subject to obtaining regulatory approvals. The revised plan will postpone the expected completion and soft-opening date from Q3 2015 as per the prospectus to Q1 2016.

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.