Savola Group — Capital/Financing Update 2014

Nov 11, 2014

Addendum announcement by Savola relating to the latest development regards its signing of a non-binding MOU to sell its entire operations in Plastic & Packaging Sector to Takween Advanced Industries

2050 · 11/11/2014 16:04:13 · Announcement #36114 · View on Saudi Exchange

Addendum announcement by Savola relating to the latest development regards its signing of a non-binding MOU to sell its entire operations in Plastic & Packaging Sector to Takween Advanced Industries

Further to the announcement made by the Savola Group (Savola) on 23 July 2014 and 6 November 2014 regarding signing a non-binding memorandum of understanding (MOU) with Takween Advanced Industries (Takween) and its extension for additional period in relation to the potential acquisition (Proposed Transaction) by Takween of Savola Packaging Company (SPS), a wholly owned subsidiary of Savola.

Takween & Savola (through its subsidiary SPS) in compliance with certain regulatory requirements have submitted an application to the Council of Competition Protection (Competition Council) regarding the proposed transaction, Savola announces that the Competition Council invites all interested parties to give their opinion on the proposed transaction. The Competition Council's announcement is expected to be published on Wednesday 12 November 2014 in two local newspapers.

Savola will make a public announcement regarding the findings and decision of the Competition Council in relation to the Proposed Transaction in due course.

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.