Takween Advanced Industries Co. — Capital/Financing Update 2016

Feb 24, 2016

addendum announcement from TAKWEEN ADVANCED INDUSTRIES related to THE RECOMMENDATION OF THE BOARD OF DIRECTORS TO INCREASE THE COMPANY'S CAPITAL THROUGH OFFER OF RIGHTS ISSUE.

1201 · 24/02/2016 16:08:02 · Announcement #41387 · View on Saudi Exchange

addendum announcement from TAKWEEN ADVANCED INDUSTRIES related to THE RECOMMENDATION OF THE BOARD OF DIRECTORS TO INCREASE THE COMPANY'S CAPITAL THROUGH OFFER OF RIGHTS ISSUE.

Further to the announcement on 17-12-2015 regarding the recommendation of the Board of Directors to increase the company’s capital through offering a rights issue with a total value of SAR 600 Millions – provided the appointment of HSBC Saudi Arabia Limited, as its financial advisor, as well as the appointment of Abdulaziz Alassaf & Partners in association with Shearman & Sterling LLP as a legal advisor of the offering – the company would like to draw your kind attention that the study phase including the financials, marketing and due diligence is already started and progressing. Further developments in this regard will be announced later in due time.

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.