The Savola Group announces its position regarding the published news in some media platforms in relation to the sale of a portion or its entire stake in Al Marai Company

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1445/04/02     17/10/2023 08:05:50

Element ListExplanation
Announcement Detail With reference to the media reports & article published on 16/10/2023 in relation to a potential sale of a portion or the entire Savola Group stake in Al Marai Company and the appointment of Moelis & Co. to assist with the potential sale.

The Savola Group would like to confirm that, as an investment holding company, it routinely and from time to time evaluates a range of strategic options and opportunities to deploy and/or reallocate capital to maximize value for their shareholders. While no decisions have been made at this stage in relation to the potential sale of a portion of its stake in Al Marai Company; knowing that this is one of such options under consideration and that the Group has appointed Moelis & Co. to advise it in relation to such option. Furthermore, there is no material development to disclose at this stage as per the regulations.

Accordingly, any material developments in this connection will be announced once occurred if, and when required in compliance with CMA relevant laws and regulations.

In light of that, we would like to advise our shareholders and relevant stakeholders not to rely on any news from unofficial sources and to only obtain information regarding the Savola Group from approved sources, including information published on the Saudi Stock Exchange (Tadawul) website or the Group’s official website.

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.

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