Savola: Heirs of Substantial Shareholder Demand Transfer of 43.89 Million Shares to Subsidiary

Savola Group Co. announced on Wednesday that it received a letter from the Proxy of the deceased Abduallah Mohammed AlRabea’s heirs, one of the Group’s substantial shareholders with ownership of (43,892,500) shares representing 8.22% of the Company’s share capital. The letter expressed that the heirs intend to transfer all the deceased’s shares in the Group to the investment portfolio owned by the entity named “Mohammed Abduallah AlRabea & Partners Limited Co.”, without conducting any special transaction in this respect. Knowing that the Company is wholly owned by Abduallah Mohammed AlRabea’s heirs; accordingly, the shares would be transferred to the Company, and the new ownership in the Group’s substantial shareholders’ list would be reflected in Tadawul website.