Kingdom Holding Co. — M&A Activity 2011

Mar 15, 2011

Amendment of clarification 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 Zain Kuwait to acquire Zains stake in Zain Saudi

4280 · 15/03/2011 08:57:34 · Announcement #20786 · View on Saudi Exchange

Amendment of clarification 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 Zain Kuwait to acquire Zains stake in Zain Saudi

In reference to the amendment announcement by Kingdom Holding Company on Monday 14/03/2011, on the Tadawul site, which stated that the Board of Directors of Kuwait's Mobile Telecommunications Co. (Zain Kuwait) approved to sell its entire stake in Mobile Telecommunications Company (Zain KSA), Kingdom Holding Company would like to clarify the following:

1. It will determine the percentage of ownership for Kingdom Holding Company in Zain (KSA) after the due diligence has been completed and approval by all relevant parties is in order.

2. The consortiums offer does not contain any guarantees for existing liabilities for Zain (KSA) and any liabilities between Zain (KSA) and Zain Kuwait.

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.