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Sipchem announces that proceeds of the sale of the fraction shares resulting from the capital increase of Sipchem will be deposited into the accounts of the eligible shareholders

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Action Type Increase
Introduction In reference to the announcement made by Sahara International Petrochemical Company (“Sipchem”) on 21 May 2019 regarding the completion of the business merger with Sahara Petrochemicals Company (“Sahara”), through Sipchem’s acquisition of all of the shares of the Sahara shareholders by way of share exchange, Sipchem now announces that it has completed the sale of the fractional shares resulting from the share exchange with the Sahara shareholders and that the proceeds of the sale of fractional shares will be deposited in the relevant shareholders’ accounts as follows:
Fractional Shares Selling End Date 2019-05-27 Corresponding to 1440-09-22
Number of Sold Shares 29062
Fractional Shares Sales Revenue 606,396.58
Average Selling Price per share 20,86
Date of Depositing Fractional Shares Sales Revenue in the Bank Accounts of Eligible Investors 2019-08-22 Corresponding to 1440-12-21
Name of /Method of Contacting the Entity in Charge of Distributing the Fractional Shares Sales Revenue The proceeds from the sale of fractional shares will be distributed by Al-Rajhi Bank depositing the proceeds into the bank accounts that are tied to the investment portfolios of the shareholders entitled to the proceeds of the sale of such fractional shares. These are the shareholders of Sahara as at 16/09/1440H (corresponding to 21/05/2019G) and who were registered in the Sahara share register at the depository center at the end of the second trading day from 16/09/1440H.

If you have any questions, please communicate with Al-Rajhi Bank on telephone number (8001228888)

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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