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Saudi Arabian Oil Company (Saudi Aramco) (the “Company”) addresses the recent development announced by the State in connection with the State’s transfer of a portion of the State’s ownership in the Company to PIF’s fully owned companies
| Element List | Explanation |
|---|---|
| Announcement Detail | Reference is made to the State’s announcement on the Saudi Press Agency on 26/08/1445H (corresponding to 07/03/2024G) in relation to the State’s transfer of 8% of Saudi Aramco shares to PIF’s fully owned companies. Following the transfer, the State remains Saudi Aramco’s largest shareholder, retaining 82.186% shareholding. This is a private transfer and the Company is not a party to the transfer and did not enter into any agreements or pay or receive any proceeds from the transfer. The transfer will not affect the Company’s total number of issued shares, and the shares transferred will rank equally alongside other existing ordinary shares in the Company. The transfer does not have an impact on the Company’s operations, strategy, dividends distribution policy or governance framework. The Company will announce any material development as required by the applicable rules and regulations. |
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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