Savola Group — Capital/Financing Update 2019

May 9, 2019

Savola Group announces intend to issue Sukuk denominated in Saudi Arabian Riyals

2050 · 09/05/2019 08:32:41 · Announcement #54867 · View on Saudi Exchange

Savola Group announces intend to issue Sukuk denominated in Saudi Arabian Riyals

Element List

Explanation

Introduction

The Savola Group Company (the “Company”) announces to its shareholders its intention to establish a Sukuk Programme (the “Programme”) and issue sukuk thereunder (the “Sukuk”) either directly or through a special purpose vehicle to be established inside or outside of Saudi Arabia for the purpose of issuing and offering senior and/or subordinated sukuk in one or more tranches or through one issuance or a series of issuances pursuant to the Programme within the Kingdom of Saudi Arabia in a total amount not exceeding SAR 5,300,000,000 (Five Billion Three Hundred Million Saudi Riyals) at any time.

The Board of Directors of the Company has approved, on 03/09/1440H corresponding to 08/05/2019G, the establishment of the Programme and the issuance of Sukuk thereunder. The Board of Directors has also approved the offer of the first issuance under the Progamme, subject to the market conditions and in line with the Company's financial and strategic needs, provided that the offer of the first issuance shall be in exchange for monetary consideration or in exchange of all or some of the Sukuk issued on 10/03/1434H corresponding to 22/01/2013G (the “Previous Sukuk”), as deemed appropriate by the Company Issuing type Sukuk denominated in Saudi Arabian Riyals Board Resolution Date 2019-05-08 Corresponding to 1440-09-03 Issuing Amount The total value of the Programme will not exceed SAR 5,300,000,000 (Five Billion Three Hundred Million Saudi Riyals). The value and terms of the first issuance under the Programme, the number and value of the Previous Sukuk that may be exchanged and the terms of such exchange, and the value and terms of any other issuance under the Programme will be determined at a later stage, subject to the market conditions. Purpose of Issuing To fulfill the Company’s financial and strategic needs. Approvals The offer will be subject to the approval of the relevant regulatory authorities, and the offer will be made in compliance with applicable laws and regulations. Additional Information This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Company will announce any other relevant material developments to its shareholders 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.