BankMuscat (S.A.O.G)

Net Asset Value • Sep 19, 2022

National Storage Mechanism | Additional information

RNS Number : 8404Z

BankMuscat (S.A.O.G)

18 September 2022

Date:  18    September 2022

Subject:	Signing of agreements for sale of Bank Muscat's 27.29% stake in SICO Capital

We refer to our disclosures dated 20 December 2020 and 16 August 2021 regarding 72.71% stake sale in Muscat Capital, based in Kingdom of Saudi Arabia (KSA) to SICO BSC (c) ("SICO"), a Bahrain based investment bank.

The Bank would like to notify the market that it has now entered into an agreement with SICO to sell the remaining 27.29% stake held by Bank Muscat in SICO Capital (previously named Muscat Capital) to SICO.

The sale consideration is estimated to be approximately OMR 1.95 million (Sale Consideration) for the remaining 27.29% stake of Bank Muscat in SICO Capital, based on its net book value as of 31st March 2022. Further, the Bank intends to acquire an additional stake in SICO BSC (c) in an amount equal to the Sale Consideration.

The closing of the transaction is subject to receipt of necessary regulatory approvals. Bank Muscat will inform the market once the transaction is completed.

Waleed K. Al Hashar

Chief Executive Officer

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISLPMBTMTJBBBT