National Agricultural Development Co. — M&A Activity 2021

Dec 1, 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 · 01/12/2021 08:38:38 · Announcement #65806 · 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.

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Explanation

Introduction

Reference to the announcement of the National Agricultural Development Company (NADEC) dated 12/03/1442H (corresponding to 07/13/2021G) regarding the latest developments regarding the recent developments relating to the final agreements regarding the acquisition of the Second Milling Company in Riyadh, Kingdom of Saudi Arabia (the “Flour Mill”) with OLAM International Limited, Al Rajhi International for Investment Company and Ajlan & Bros Company (with NADEC, the “Consortium Members”).

The National Agricultural Development Company (NADEC) would like to announce the completion of the acquisition of Second Milling Company in Riyadh, Kingdom of Saudi Arabia (the “Flour Mill”) with Olam International Group, Al Rajhi International Investment Company Ajlan & Bros Company (“Consortium Members”) by transferring all assets of the Second Milling Company (the “Flour Mill”) to the Food Security Holding Company, a limited liability company (the “Company”).

It is worth to mention that the National Agricultural Development Company (NADEC) owns a 10% minority stake with liability in an agreement governing NADEC's purchase of specific products from the Second Milling Company and an agreement through which NADEC provides management, marketing and support services to the Second Milling Company. Previous Announcement 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. Date of Previous Announcement on Tadawul's Website 2021-07-13 Corresponding to 1442-12-03 Percentage of fulfilled achievement N/A Event's Expected Completion Date N/A Reasons for Exceeding the Announced End Date N/A The costs associated with the event, and if they have changed or not with indication of the reasons. The costs related to the event have been mentioned in previous announcements. Impact of the Delay on the Company's Financial Results N/A

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