Al Hammadi Holding — Capital/Financing Update 2016

Apr 21, 2016

ALHAMMADI COMPANY FOR DEVELOPMENT AND INVESTMENT ANNOUNCES THE DEVELOPMENT OF USE OF IPO PROCEEDS

4007 · 21/04/2016 15:04:47 · Announcement #42332 · View on Saudi Exchange

ALHAMMADI COMPANY FOR DEVELOPMENT AND INVESTMENT ANNOUNCES THE DEVELOPMENT OF USE OF IPO PROCEEDS

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 for the period ended 31 March 2016 are SAR 493.7 million out of which SAR 158.3 million was used for early settlement of one loan related to AlHammadi Hospital Nuzha Branch (including SAR 55.5 million as mentioned in the prospectus).

4. AlHammadi Hospital Nuzha Branch percentage of completion is 82% as of 31 March 2016 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 percentage of completion of the project.

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 AlHammadi Hospital Nuzha Branch planned beds capacity from 428 beds to 600 beds with an estimated additional cost of SAR 20 million, the Company expecting the completion of the construction work and commencing the test run during Q2 2016 instead of Q3 2015 as mentioned in the prospectus as a result of increasing the hospital bed capacity.

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.