Al Hammadi Holding — Capital/Financing Update 2015

Jan 19, 2015

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

4007 · 19/01/2015 18:18:22 · Announcement #36768 · 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 December 2014 are SAR 97.98 million.

4. AlHammadi Hospital AlNuzha branch completion rate is 64.5 % as of 31 December 2014 as compared to 45% as stated in the prospectus.

5. The project is progressing in accordance with the plan disclosed in the prospectus with no deviations.

However, it is important to highlight that the Board has approved the expansion of the capacity from 428 beds to 600 beds, subject to obtaining the required regulatory approvals. The additional cost will be around SAR 20 million and expected completion would be Q1 2016 as opposed to Q3 2015 (as per the prospectus)

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

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.