SABIC Agri-Nutrients Co. — Capital/Financing Update 2021

Dec 23, 2021

SABIC Agri-Nutrients Company announces the completion the procedures for determining the monetary adjustment in the total value of the company's acquisition of all shares in the capital of SABIC Agri-Nutrients Investment Company, previously owned by the Saudi Basic Industries Corporation (SABIC)

2020 · 23/12/2021 15:28:21 · Announcement #66061 · View on Saudi Exchange

SABIC Agri-Nutrients Company announces the completion the procedures for determining the monetary adjustment in the total value of the company's acquisition of all shares in the capital of SABIC Agri-Nutrients Investment Company, previously owned by the Saudi Basic Industries Corporation (SABIC)

Element List

Explanation

Introduction

The Company’s previous announcement on TADAWUL dated Monday 20 Jumada Al-Awwal 1442 AH corresponding to 4 January 2021 G confirmed the completion of procedures related to the transfer of ownership of SABIC Agri-Nutrient Investments Company from SABIC to the Company and the increase of the Company’s share capital. The same announcement also provided that a cash adjustment to the total value of the transaction will be determined at a later date and calculated based on the (unaudited) financial statements as at Thursday 16 Jumada Alawwal 1442H corresponding to 31 December 2020G and that the Company will publish an announcement on TADAWUL of the cash adjustment to the total value of the transaction at that time..

Accordingly, the Company would like to announce to its shareholders that it has completed the determination of the cash adjustment to the total value of the transaction and has reached an agreement with SABIC on such cash adjustment in accordance with the terms and conditions of the share purchase Agreement signed between the Company and SABIC on Wednesday 28 Rabeah El-Thani 1441H corresponding to 25December 2019G (“SPA”). The cash adjustment to the total value of the transaction is equal to amount of 1,809,858 Riyals which will be paid in cash to SABIC in accordance with the terms and conditions of the SPA Previous Announcement Completion of the acquisition by the SABIC Agri-Nutrients Company (the Company) of the entire share capital of the SABIC Agri-Nutrients Investments Company owned by the Saudi Basic Industries Corporation (“SABIC”) Date of Previous Announcement on Tadawul's Website 2021-01-04 Corresponding to 1442-05-20 Percentage of fulfilled achievement 100 % Event's Expected Completion Date Event completed Reasons for Exceeding the Announced End Date Not applicable The costs associated with the event, and if they have changed or not with indication of the reasons. No significant financial impact Impact of the Delay on the Company's Financial Results Not applicable Additional Information The financial impact of the cash adjustment will appear during the fourth quarter of the fiscal year ending on 31 December 2021G financial results

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