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Alujain Corp. — M&A Activity 2010
Feb 17, 2010
53306_rns_2010-02-17_68e10ed4-d47b-47e3-ace3-0b797c8a44b3.html
M&A Activity
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Alujain Makes an Offer to National Petrochemical Industrial Company ( "NATPET") for acquiring All Remaining NATPET Shares not Owned by Alujain
2170 · 17/02/2010 17:11:19 · Announcement #17203 · View on Saudi Exchange
Alujain Makes an Offer to National Petrochemical Industrial Company ( "NATPET") for acquiring All Remaining NATPET Shares not Owned by Alujain
Alujain Corporation announces submitting its offer to NATPET to buy all remaining NATPET shares not owned by Alujain, where it currently owns 57.399% shares. The process will be through swapping Alujain shares with NATPET shares by an increase in Alujains capital to that extent. This means that, in the event all NATPET shareholders accept the offer, Alujain will issue 44,164,781 new shares against 45,582,000 NATPET shares that will be acquired, at a ratio of 0.9689 Alujain share for each NATPET share. This offer made today is valid starting today until 13th March, 2010. Deutsche Securities Saudi Arabia, Riyadh is acting as the financial advisor.
This transaction is subject to necessary approvals in accordance with the regulations in force including the approval by Alujain shareholders through an Extraordinary General Assembly meeting and the signing of a Share Purchase Agreement by the shareholders of NATPET and the receipt of all required approvals from the Capital Market Authority and the Ministry of Commerce and Industry.
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.