Kingdom Holding Co. — M&A Activity 2011

Mar 16, 2011

Amendment Announcement from KHC to the Announcement That it Has Received a Preliminary Acceptance of The Non-Binding Offer And a Preliminary Expression From The Board of of Zain Kuwait to Acquire Zains Stake in Zain Saudi

4280 · 16/03/2011 08:06:55 · Announcement #20791 · View on Saudi Exchange

Amendment Announcement from KHC to the Announcement That it Has Received a Preliminary Acceptance of The Non-Binding Offer And a Preliminary Expression From The Board of of Zain Kuwait to Acquire Zains Stake in Zain Saudi

In reference to the amendment announcement by Kingdom Holding Company on Sunday 13/03/2011, on the Tadawul site, and the amendment clarification on Tuesday, 15/03/2011, Kingdom Holding Company reconfirms that the offer is 950M dollars in cash. The due diligence process will start as soon as all parties finalize the sale process arrangements, including but not limited to obtaining all necessary clearances and approvals in the Kingdom of Saudi Arabia.

The offer contemplates that, post completion of the transaction, Zain KSA will be treated as an independent company with no guarantees from any third parties, including but not limited to Kingdom Holding Company and Batelco.

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.