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Savola Group announces the submission of the Capital Reduction application file to the Capital Market Authority
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Savola Group (the "Company") on the Tadawul website dated 26/09/2024G in relation to the Company's board of directors' recommendation to reduce the Company's capital from SAR (11,339,806,840) to SAR (3,000,000,000) (the "Capital Reduction"), the Company wishes to inform its shareholder that it has submitted the Capital Reduction application file for approval to the Capital Market Authority (the “CMA”) on 01/10/2024G. It is worth mentioning that the Capital Reduction is subject to the approval of the CMA and the Company's extraordinary general assembly which is linked with the proposed in-kind distribution of Savola’s entire stake in Almarai Co. to Savola’s eligible Shareholders. |
| Date of Submitting the Application File to CMA | 2024-10-01 Corresponding to 1446-03-28 |
| Application Subject | Reduce the Company's capital from SAR (11,339,806,840) to SAR (3,000,000,000) |
| Date of Announcing Board Recommendation to Decrease the Company’s Capital on Saudi Exchange’s Website | 2024-09-26 Corresponding to 1446-03-23 |
| Additional Information | For further details on the Capital Reduction, please refer to the Board recommendation announcement issued by the Company on 26/09/2024G in this regard. The Company will announce any future developments regarding this matter as they become available. |
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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