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Savola Group — Capital/Financing Update 2015
Mar 16, 2015
53290_rns_2015-03-16_1b00b960-5a20-4a4b-951f-c457007db5dd.html
Capital/Financing Update
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Further announcement by Savola Group relating to its signing of an agreement to sell all of its shares in Savola Packaging Systems Company to Takween Advanced Industries
2050 · 16/03/2015 08:15:20 · Announcement #37634 · View on Saudi Exchange
Further announcement by Savola Group relating to its signing of an agreement to sell all of its shares in Savola Packaging Systems Company to Takween Advanced Industries
Further to the announcement made by Savola Group (Savola) on 31/12/2014 regarding signing an agreement with Takween Advanced Industries (Takween) to sell its entire shareholding of Savola Packaging Systems Company (the Transaction) and the announcement made by Savola on 28/1/2015 regarding issuance of approval No 147 dated 27/01/2015 from the Council of Competition Protection in respect of the Transaction, Savola announces the signing on 15/3/2015 of the shareholder resolution amending the articles of association of Savola Packaging Systems Company transferring all shares thereof to Takween before the relevant notary public in the city of Jeddah. It is worth noting that the completion of the Transaction remains subject to payment by Takween of the full purchase price to Savola and transfer of all the shares of the subsidiaries of Savola Packaging Systems Company to Takween.
Savola Group will announce any developments as and when they occur.
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.