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Takween Advanced industries announces the early settlement and the amendment on the reschedule agreement with a consortium of Saudi banks

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Introduction Takween Advanced industries announces the early settlement and the amendment on the reschedule agreement of the existing balance amounting 209,5 million riyals from the Murabaha after the early settlement amount 152.3 million riyals, As the original facility agreement is 1.3 billion Saudi riyals signed on March 11, 2015. A restructuring took place on 11/05/2020 for the mount of 429.4 million riyals being the balance at that date. The agreement was signed with a consortium of Saudi banks, namely Arab National Bank, Samba Financial Group and Al Bilad bank.
Date of singing the rescheduling of finance 2021-07-29 Corresponding to 1442-12-19
Financing entity A group of Saudi banks consisting of Arab National Bank, Samba Financial Group and AL Bilad Bank.
Reasons for rescheduling Reason for early settlement to reduce the debt amount and financing cost.
The Financing amount and rescheduled part The initial Murabaha agreement value of 1.3 billion riyals, the balance scheduled on 11/05/2020 was 429.4 million riyals and the value of the current balance after reflecting the early settlement in 2021 is 209.5 million riyals.
Financing Duration, before and after Rescheduling The initial schedule of payment was seven years in semi-annual instalments starting from 11/09/2015 and ending on 11/09/2021, rescheduled to five years from 12/05/2020 to 11/09/2024. The schedule of payment after reflecting the early settlement will be three years starting from 12/09/2021 and ends on 11/09/2024 on semi-annual instalments.
Guarantees offered for the rescheduled Financing Continuity of the existing securities and guarantees, namely, the pledge on Saudi Plastics Packaging Systems Company (Savola packaging system previously), pledge of revenues accounts of the affiliated companies except SAAF that was released. In addition to the promissory note signed and the corporate guarantee provided by Al Othman Holding.
Related Parties Al-Othman Holding - Related party – issuer of the corporate guarantee.
Additional Information The initial Murabaha agreement amounting 1.3 billion riyals was approved by the General Assembly meeting held on 01/03/2015 The Board of Directors has approved the early settlement and the amendment on the Murabaha agreement on 29/07/2021 corresponding to 19 Dhu Al-Hujah 1442H.

The Capital Market Authority and the Saudi Stock 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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