Saudi Cement Co. — Capital/Financing Update 2016

May 24, 2016

Saudi Cement Company Announces signing of contract for selling its total shareholdings in Group International Cement Company (Kuwaiti closed joint stock co.)

3030 · 24/05/2016 16:17:36 · Announcement #42765 · View on Saudi Exchange

Saudi Cement Company Announces signing of contract for selling its total shareholdings in Group International Cement Company (Kuwaiti closed joint stock co.)

Saudi Cement Company, hereby, announces that on 24-05-2016 has signed a contract for selling its total shareholding of 40% in Group International Cement Company (Kuwaiti closed joint stock co.) for total value of KWD1,989,162 ( Kuwaiti Dinars, One Million, Nine Hundred Eighty Nine Thousand One Hundred Sixty Two).

The financial impact will be an increase in the profit of the company,during the second quarter of 2016, as gain from selling of investment amounting to KWD 50,000 (Kuwaiti Dinars, Fifty Thousand) after considering exchange rate differences ( increase/ decrease) upon receipt of the selling value. Furthermore, the investments in associated companies balance will reduce by the book value of investment in Group International Cement Company and the value received will be added to company cash balances.

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.