Owner’s Business, No Effect on our Commitments, Dividend policies -Company Clarifies

Following the transfer of as much as 4% of the company’s shares to the Public Investment Fund (PIF), the state remains the main shareholder in the company, as it owns more than 94% of its shares, Saudi Aramco clarified.

Confirming that the transfer process is a deal between the state and the fund, it added that the company is not a party to it, as it has not entered into any agreements, in this regard.

And the company does not entail any payments or returns, resulting from the transfer deal, it stated.

It should be noted that the transfer process will not affect the total number of shares of the issuing company, and that the transferred percentage got to do with ordinary shares to other ordinary, similar.

Nor will there be any impact on the company’s business, strategy, dividend policy, or governance system.

The company, furthermore, would announce any material development(s), in a timely manner, in accordance with the applicable rules and regulations.