“The Saudi Group” and “Petrochem” announce the shareholders’ circular and the timetable for the acquisition

The Saudi Industrial Investment Group and Petrochem have announced the latest developments regarding the potential acquisition agreement between the Saudi Industrial Investment Group and the National Petrochemical Company “Petrochem”.

And it revealed documents that included the shareholder circular prepared by the Saudi group and addressed to its shareholders in compliance with the requirements of article (57) of the rules on offering of securities and continuing obligations in About the capital increase of the Saudi Arabian group for the purpose of the acquisition by the Saudi group of all the Petrochem shares not owned by the Saudi group through an exchange offer for Petrochem Shareholders in compliance with the provisions of Article (26) of the Merger and Acquisition Regulation. The circular contains the details of the transaction, its terms and conditions, and all related issues, including related parties, the procedures for completing the transaction and the associated risks.

Saudi Group Board members stressed the need for Saudi Group shareholders to carefully read and study all information contained in the shareholders’ circular before making their decision. in merit of the vote on the transaction, e in case of any doubt in on the vote that should be expressed by any shareholder in the extraordinary general meeting of the transaction.The members of the Board of Directors of the Saudi Group recommend obtaining independent financial advice from any independent financial adviser authorized by the Saudi Capital Market Authority and relying on the own review of the transaction to ensure the adequacy of the transaction and the information contained in this circular to the investment objectives and financial conditions of its own.

The offer document prepared by the Saudi Group and addressed to the shareholders of Petrochem was also disseminated, which contains the details of the offer submitted pursuant to article (38) of the Merger and Acquisition Regulations for the purposes of the acquisition by the Group Saudi Arabia of all Petrochem shares not owned by the Saudi Group in exchange of the issue of new shares by the Saudi Petrochem Shareholders Group.

The Saudi Group stressed the need for Petrochem shareholders to carefully read and study all the information contained in the offer document and in the Board circular to be issued by the Petrochem Board of Directors before making the decision to vote on the transaction.

The calendar of the main phases of the transaction was also revealed, which shows the dates proposed for the main phases of completion of the transaction in accordance with the provisions of theart. 17, letter c), of the Mergers and Acquisitions Regulation.

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