Takween Advanced Industries Co. — Capital/Financing Update 2015

Mar 11, 2015

Takween Advanced Industries announces obtaining a Shari’ah-compliant facility Murabaha

1201 · 11/03/2015 15:54:53 · Announcement #37583 · View on Saudi Exchange

Takween Advanced Industries announces obtaining a Shari’ah-compliant facility Murabaha

Based on the due diligence results which shows the good financial and regulatory positions of Savola Packaging Systems Company, and pursuant to the approval of the ordinary general assembly dated 01/03/2015G for Takween to obtain Shari’ah-compliant Murabaha facilities from a syndicate of Saudi banks and financial institutions with a maximum limit of SAR 1.6 billion, Takween Advanced Industries’ announces that it has signed a Shari’ah-compliant Murabaha facility agreement with a syndicate of Saudi banks. The details of such agreement are as follows:

1. loan was signed on 11-03-2015

2. Financing is through a syndicate of Saudi banks consisting of Arab National Bank, Samba Financial Group and Bank Al Bilad.

3. Loan amount of SAR 1.3 billion (SAR 910 million for the acquisition financing and SAR 390 million for the working capital financing).

4.Term of financing: seven years for the acquisition financing (including a grace period of one year effective as the date of signing and repayment takes place over the six years following the signing date) and three years for the working capital financing.

5. The purpose of the loan is to pay the purchase price of the acquisition and repay the outstanding loans of Savola Packaging Systems Company and its subsidiaries after completion of the acquisition; and to finance the working capital of the Company. It should be noted that the payment of the purchase price and transfer of ownership is currently in progress.

6. Loan guarantee : pledge of Savola Packaging Systems Company shares and revenue account of Savola Packaging Systems Company as well as the revenue accounts of its subsidiaries; promissory notes; and a corporate guarantee by Al-Othman Holding Company, which is a related party as both of the Chairman, Mr. Abdullah Al-Othman, and the MD, Mr. Abdulmohsen Al-Othman own shares in it.

Takween will announce any further developments in this matter.

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.