Saudi Printing and Packaging Co. — Capital/Financing Update 2012

Jun 27, 2012

Follow up Announcement by Saudi Printing and Packaging Company relating to the Signing of a Memorandum of Understanding to Acquire Shares in Emirates National Factory for Plastic Industries LLC

4270 · 27/06/2012 08:12:24 · Announcement #26247 · View on Saudi Exchange

Follow up Announcement by Saudi Printing and Packaging Company relating to the Signing of a Memorandum of Understanding to Acquire Shares in Emirates National Factory for Plastic Industries LLC

Further to the announcement made by Saudi Printing and Packaging Company (the "Company") dated 17/3/2012 relating to the signing of a Memorandum of Understanding dated 15/3/2012 with the shareholders in Emirates National Factory for Plastic Industries LLC (ENPI), a limited liability company established in the Emirate of Sharjah / United Arab Emirates and operates in the field of packaging and production of plastic products to acquire a majority equity interest in ENPI ranging between 73.3% to 80% of its shares, the Company announces the signing of an amended and restated Memorandum of Understanding, dated 26/6/2012 with the shareholders of ENPI to acquire 100% of its shares. The amended and restated Memorandum of Understanding shall come to an end on 31/8/2012.

The Company has completed the legal, financial and technical due diligence review of ENPI and its subsidiaries. It should be noted that the said acquisition shall be subject to final agreement on all its terms, including the signing of a definitive share purchase agreement, the satisfaction of all regulatory requirements and procedures and the obtaining of all approvals of the official authorities.

The Company has previously appointed Jadwa Investment Company as a financial advisor in relation to this acquisition.

The Company shall announce all further developments relating to the said transaction at the appropriate time.

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.