Savola Group — Capital/Financing Update 2013

Aug 5, 2013

Savola Group Announces the latest developments regarding Saudi Geant Co. (a Subsidiary of Al-Hokair Group) exercising its call option right in Azizia Panda United Co. (a Subsidiary of Savola Group)

2050 · 05/08/2013 15:40:41 · Announcement #31869 · View on Saudi Exchange

Savola Group Announces the latest developments regarding Saudi Geant Co. (a Subsidiary of Al-Hokair Group) exercising its call option right in Azizia Panda United Co. (a Subsidiary of Savola Group)

Pursuant to the announcement published by the Savola Group (the Group) in the Saudi Capital Market (Tadawul) website on 31/10/2011 regarding Fawaz Al-Hokair desire to exercise the call option for purchasing additional 3% in Azizia Panda United Company (Azizia Panda) share capital as per the agreements signed between the two parties and was also announced in Tadawul on 12 October, 2009 as part of Azizia Panda acquisition of Saudi Geant and part of its assets and upon which it has been granted the above indicated call option right.

The Savola Group would like to announce that on August 5, 2013, the Saudi Geant has exercised its right of first tranche of the call option right for acquiring 1% ownership interest in Azizia Panda for SR 40 Million (based on the valuations agreed in 2009). By completing this transaction, the ownership interest of Saudi Geant in Azizia Panda has been increased from 7% to 8% and the direct and indirect ownership interest of Savola in Azizia Panda has been reduced from 74.4% to 73.4%.

Consequently, Al-Hokair has two tranches of call options remaining for acquiring additional 2% ownership stake in Azizia Panda, which will be exercised in accordance with the agreement signed between the parties in this regard (i.e., 1% each in years 2014 and 2015).

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.