Saudi Telecom Co. — M&A Activity 2016

Feb 1, 2016

Addendum announcement from Saudi Telecom Co. regarding the voluntary tender offer (VTO) to acquire the shares of Kuwait Telecommunication Company (VIVA).

7010 · 01/02/2016 08:01:18 · Announcement #41083 · View on Saudi Exchange

Addendum announcement from Saudi Telecom Co. regarding the voluntary tender offer (VTO) to acquire the shares of Kuwait Telecommunication Company (VIVA).

Further to STC announcements published on Tadawul website and the latest announcement dated 22/12/2015 regarding STC voluntary offer to acquire the shares of VIVA it does not currently own, STC wishes to announce that the offer period has closed on 31/01/2016 and that STC will be acquiring 128,860,518 shares of VIVA representing 25.8% of the total shares in issue for a total consideration of KD 128,860,518 (SAR 1,590,138,792) at a price of KD 1 per share (SAR 12.34 per share). STC ownership will therefore increase from 26.0% to 51.8%.

STC will seek approval from the relevant authorities in Kuwait in order to execute the transaction in compliance with applicable rules and procedures, including the final count of the shares, transfer of funds and transfer of ownership.

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.