Addendum announcement by (Sipchem) regarding the Potential Merger of Equals with (Sahara)
Thursday, March 07, 2019
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Explanation

Element List

2018-12-6 Corresponding to 1440-03-28

Date of posting the previous announcement

Further to the announcement made by Saudi International Petrochemical Company (Sipchem) on 6 December 2018, which relates to Sipchem’s firm intention to enter into a business merger of equals with Sahara (the Transaction) and its execution of a legally binding agreement governing the terms relating to the implementation of the Transaction by way of Sipchem making a recommended offer to acquire all of the issued shares in Sahara in exchange for the issue of new shares in Sipchem for Sahara’s shareholders.

Sipchem announces that it has published a presentation providing further details on the Transaction including the potential synergies which are estimated to be within the range of SAR 175 million to SAR 225 million recurrent EBITDA impact per annum.

The full synergy potential is expected to be realized by the end of the third year following the completion of the Transaction.

The presentation is available to all shareholders at the following link: www.sipchem-sahara.com

Further information on the Transaction will be announced in due course.

Change Details on development

None

Financial Impact on the change