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
Thursday, August 22, 2019
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EXPLANATION

ELEMENT

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

Announcement Title

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:

Introduction

27 May 2019

Completion of the sale of fractional shares

29,062 Shares

Number of Sold Shares

606,396.58 SAR

Proceeds from the sale of fractional shares

20.86 SAR

Average Selling Price per share

August 22, 2019

Date of depositing the proceeds from the sale of fractional shares in the bank accounts of eligible investors

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 name of and method of contacting the party responsible for the distribution of the proceeds arising from the sale of fractional shares