Rubis — Delisting Announcement 2019

Mar 8, 2019

Paris, March 8 th, 2019, 5:35 p.m.

LARGE SUCCESS OF RUBIS' TAKE-OVER OFFER ON KENOLKOBIL PLC FINAL HOLDING 97.6% PLAN TO DE-LIST FOLLOWING COMPULSORILY PURCHASE FROM NAIROBI SE

The Capital Market Authority of Kenya has declared completed and unconditional the offer made by Rubis Énergie to acquire the shares of KenolKobil Plc that were not already owned.

Being confirmed that:

• upon completion of the transfer of the shares, Rubis will hold shares representing 97.60% of the total issued share capital of KenolKobil; and
• Rubis has received approvals from the Competition Authority, the COMESA Competition Commission and the consent of the Energy Regulatory Commission. All the conditions as set out in the offer document dated 20 December 2018 have been fulfilled.

As a result, Rubis is launching today the share transfer process.

Rubis will apply the provisions of the laws of Kenya to compulsorily acquire the remaining shares of KenolKobil. The acquisition will be made at the offer price of KES 23 per share. Further details about this process will be sent to all concerned shareholders.

As set out in the offer document, Rubis will initiate a process to obtain the requisite shareholder and regulatory approvals to de-list KenolKobil's shares from the Nairobi Securities Exchange.

This will allow Rubis to integrate shortly KenolKobil within Rubis' accounting and governance systems.

On the basis of the offer price per share of KES 23 applied on the full number of shares (post compulsory shares purchase) total amount paid for the equity would reach €312 million entirely financed by existing credit lines.

Next meeting:

2018 annual results on 12 March 2019 (after market closing)