Saudi Telecom Co. — Capital/Financing Update 2016

Sep 21, 2016

SAUDI TELECOM COMPANY ANNOUNCE THE APPROVAL OF ITS BOARD OF DIRECTORS TO BUY THE REMAINING SHARES IN GULF DIGITAL MEDIA COMPANY (INTIGRAL) .

7010 · 21/09/2016 15:35:06 · Announcement #43897 · View on Saudi Exchange

SAUDI TELECOM COMPANY ANNOUNCE THE APPROVAL OF ITS BOARD OF DIRECTORS TO BUY THE REMAINING SHARES IN GULF DIGITAL MEDIA COMPANY (INTIGRAL) .

The Saudi Telecom Company (the Company) announce that the board of directors of the company has approved in 20/12/1437 corresponding to 21/09/2016 to buy the shares of First Ischia Digital Media Limited company (owned by Astro Malaysia) in Gulf Digital Media Company (Intigral) which represents 29% from Intigral capital in the amount of $ 10 million dollars (equivalent to 37.5 million Saudi Riyal) to become the company's share after the purchase of 100%, and the operation will be financed through its own sources of the company. It should be noted that the financial impact of this transaction has no relative importance to the financial results of the company and will not entail the purchase of any obligations on the company.

The company currently owns 71% of Intigral company capital, Intigral company is closed joint stock company provides services include religious content, entertainment content and educational content across a wide range of styles and forms, whether the services text or audio or interactive television, will also provide content services through a wide range of options, including radio and television services, text messages, surf the Internet . The move is consistent with the company's strategy of focusing on providing digital content services, which are important to many customers, such as interactive television service (Invision) and interactive messaging service (VAS) and Service Plus League and many other services.

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.