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The Savola Group Announces the Results of its Shares Buy-back (Sconed Phase)

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Introduction The Savola Group announces that it has completed the second phase of its shares buy-back transaction on 10/02/2022, where the required number of the shares has been purchased to cover the 3rd tranche of the Employees’ Long-Term Incentive Program (LTIP) and in accordance with the approved program criteria and terms.

The total number of the purchased shares for the second phase amounted to 637,955 shares. This brings the total number of the purchased shares for the first and the second phases to 987,031 shares out of 1,200,000 shares that represents the maximum number of the shares approved for the buy-back by the Extraordinary Shareholders General Assembly (EGM). With the note that the purchase period granted by the EGM to complete the buy-back transaction is 12 months period as of the EGM’s approval granted in its meeting held on 28th April 2021.

Date of Posting the Approval of the General Assembly on the Purchase on Tadawul's Website 2021-04-29 Corresponding to 1442-09-17
Purchase Period Within a maximum period of twelve (12) months from the date EGM’s resolution.
Number of the Purchased Shares 637955
Value of the Purchased Shares SR 21,427,933.60
Average Purchase Price Per Share 33.59 SR
Additional Information This comes as part of the Group’s efforts to attract and retain key talents and motivate them to further strengthen their performance to achieve the Group’s strategic objectives.

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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