Savola Group — Capital/Financing Update 2017

Sep 13, 2017

Savola Group announces the latest developments in relation to selling part of its shares in Al-Marai Company

2050 · 13/09/2017 08:04:17 · Announcement #48012 · View on Saudi Exchange

Savola Group announces the latest developments in relation to selling part of its shares in Al-Marai Company

Further to Savola Group's (Savola) announcement on Tuesday 12 September 2017 that it has commenced an accelerated bookbuilding process to sell up to 16,000,000 shares in Al-Marai Company, which amounts to 2% of the issued share capital of Al-Marai Company (the (Transaction), Savola would like to announce that it has completed the accelerated bookbuilding process on Tuesday 12 September, 2017 and the results were as follows:

- number of allocated shares: 16,000,000 shares in Al-Marai Company, which

amounts to 2% of the issued share capital of Al-Marai Company (the

Shares).

- price per Share: SAR 70 per Share,

- The total proceeds: SAR 1,120,000,000

The sale and purchase of the Shares will be executed with each investor who received allocations during the accelerated bookbuilding process, through special trades (negotiated trades) in accordance with the applicable requirements and shall be executed during the trading session on Wednesday 13 September 2017.

Savola notes that completion of the Transaction and receipt of the proceeds referred to above remain subject to the successful execution of the special trades (negotiated trades) and the successful completion of the settlement thereof. Therefore, if for any reason any of the special trades (negotiated trades) are not executed or their settlement process has not been completed, the total number of sold shares and the total amount of the proceeds which Savola will generate from the Transaction may be impacted. Savola will announce the total number of shares actually sold and the amount of proceeds actually received once the settlement process of the special trades (negotiated trades) has completed, currently expected to occur by the closing of the trading session on Sunday 17 September 2017.

Assuming the Transaction is fully completed and Savola has received the full amount of the proceeds referred to above, Savola will record a profit of SAR 694,083,196 during the third quarter of this financial year.

The ownership of Savola in Al-Marai Company will decrease from 36.52% to 34.52% following the completion of the Transaction.

Savola intends to use the proceeds of the sale, once completed, for general corporate purposes.

Savola has appointed HSBC Saudi Arabia as broker and bookrunner and Abuhimed AlSheikh AlHagbani Law Firm (in co-operation with Clifford Chance LLP) as legal advisors to the Transaction.

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.