National Agricultural Development Co. — Capital/Financing Update 2021

Jul 13, 2021

The National Agricultural Development Company (NADEC) announces recent developments relating to the acquisition of the Second Milling Company with OLAM International Limited, Al Rajhi International for Investment Company and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment

6010 · 13/07/2021 08:28:04 · Announcement #64136 · View on Saudi Exchange

The National Agricultural Development Company (NADEC) announces recent developments relating to the acquisition of the Second Milling Company with OLAM International Limited, Al Rajhi International for Investment Company and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment

Element List

Explanation

Introduction

Further to the announcement made by the National Agricultural Development Company (“NADEC”) on 09/09/1442H (corresponding to 21/04/2021G)in respect of the award of the joint bid from the National Centre for Privatization (“NCP”) and the Saudi Grains Organization (“SAGO”) by OLAM International Limited, Al Rajhi International for Investment Company and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment (with NADEC, the “Consortium Members”) to acquire the Second Milling company in Riyadh, Saudi Arabica (the “Flour Mill”).

In relation to NADEC entering into a binding memorandum of understanding with the Consortium Members on 07/09/1442H (corresponding to 19/04/2021G) (the “Term Sheet”), which contains key commercial terms in relation to incorporating Food Security Holding Company, a limited liability company (the “Company”) that will acquire the Flour Mill, operate and manage it through the agreements relating to the Company ("Final Agreements").

NADEC wishes to announce the latest developments in this regard, where the Consortium Members have concluded negotiations in relation to the Final Agreements, and intend to sign the Final Agreements later today.

NADEC will announce any further material developments, as required by the relevant rules and regulations. Previous Announcement NADEC’s announcement in relation to the award of the joint bid with OLAM International Limited, Al Rajhi International for Investment Company and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment to acquire a flour mill out of two flour mills that was offered for privatisation by the Saudi Grains Organization (“SAGO”). Date of Previous Announcement on Tadawul's Website 2021-04-21 Corresponding to 1442-09-09 Percentage of fulfilled achievement Not applicable Event's Expected Completion Date Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable

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