Al Hokair BOD Amends its Recommendation to Reduce Capital to SR1.13 bln

Fawaz Abdulaziz Alhokair Company announced on Monday that the Board of Directors decided on Sunday to amend the previous recommendation related to the capital reduction to be as follows:

• Recommending to the Extraordinary General Assembly to reduce the company’s capital from SR2,100,000,000 to SR1,130,797,630 by cancelling (96,920,237) ordinary shares from the issued shares of the company; (1) share to be cancelled for every (2.167) shares.

• The effect of the capital reduction on the company’s obligations: there is no effect from the reduction of the company’s capital on its financial obligations, operations, or financial, operational or organizational performance.

• Date of reduction: the end of the second trading day after the extra ordinary general assembly meeting in which decrease was resolved

This comes with reference to the announcement of Fawaz Abdulaziz Alhokair Company on 11.11.2021, regarding the Board of Directors’ recommendation to reduce the company’s capital and then increase the company’s capital through rights issues, the company’s board of directors decided on 09.01.2022 to amend the previous recommendation related to the reduction of the Company’s capital as follows:

Additional Information:

• The capital reduction is subject to the approval of the related official authorities and the Extraordinary General Assembly.

• There is no change in the appointment of the financial advisors, as Alinma Investment Company and Credit Suisse Saudi Arabia will jointly be the financial advisors with respect to the capital increase process. Alinma Investment Company has been appointed as the Lead manager and underwriter for the proposed capital increase.