تعلن الشركة الوطنية للبتروكيماويات (بتروكيم) عن إبرامها لاتفاقية التنفيذ الملزمة مع &#

A2002 PETROCHEM0.2 (0.39 %)
1443/03/21 Wed Oct 27, 2021 15:57:45

The National Petrochemical Company (Petrochem) announces its entry into a binding implementation agreement with the Saudi Industrial Investment Group in relation to the acquisition by the Saudi Industrial Investment Group of all shares issued in Petrochem through a securities exchange transaction

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Element List	Explanation
Announcement Detail	Further to the announcement made by the National Petrochemical Company ("Petrochem") on 21/2/1443H (corresponding to 28/09/2021G) in respect of signing a non-binding memorandum of understanding in relation to the exchange ratio and the structure to implement a securities exchange transaction with the Saudi Industrial Investment Group ("SIIG"), and the announcement made by SIIG on 21/03/1443H (corresponding to 27/10/2021G) regarding its firm intention to make a securities exchange offer in accordance with Article 17(e) of the Merger and Acquisition Regulations pursuant to which SIIG shall acquire all of Petrochem's shares which are not owned by SIIG in exchange for the issuance of new shares in SIIG to Petrochem's shareholders (the "Transaction"), Petrochem is pleased to announce that it has entered into a legally binding implementation agreement on 21/03/1443H (corresponding to 27/10/2021G) with SIIG (the "Implementation Agreement"), pursuant to which Petrochem and SIIG have agreed to take the necessary steps to implement the Transaction in accordance with Article 26 of the Merger and Acquisition Regulations and the Rules on the Offer of Securities and Continuing Obligations issued by the board of the Capital Market Authority, as well as the terms and conditions set out in the Implementation Agreement. For the further details on the announcement, please refer to the attachment.
Attached Documents	[Link]

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.