Takween Advanced Industries Co. — M&A Activity 2014

Nov 6, 2014

Addendum announcement by Takween Advanced Industries relating to its signature of a non-binding MoU with Savola Group to purchase Savola’s entire operations in the Plastic and Packaging Sector

1201 · 06/11/2014 15:51:29 · Announcement #36091 · View on Saudi Exchange

Addendum announcement by Takween Advanced Industries relating to its signature of a non-binding MoU with Savola Group to purchase Savola’s entire operations in the Plastic and Packaging Sector

:Further to the announcement made by Takween Advanced Industries (Takween) on 23 July 2014, regarding signing a non-binding memorandum of understanding with Savola Group (Savola) on 22 July 2014 ("MOU") in relation to the potential acquisition by Takween of Savola Packaging Company a wholly owned subsidiary of Savola, Takween announces extension of the term of the MOU to 31 December 2014.

As previously announced the initial term of the MOU was 16 weeks up to 11 November 2014. In order to give the two parties more time to conclude the due diligence exercise and negotiations, the parties have entered into an amendment to the MOU on 06/11/2014 to extend the term of the MOU to 31 December 2014.

Takween will announce on Tadawul, if any material developments take place with regard to this 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.