If you'd like to get contact with us, please send an email to info@maaden.com.sa or you can contact one of our offices below:

SAUDI ARABIAN MINING COMPANY

Head Office - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8000
Fax: +966 (0) 11 874 8300
info@maaden.com.sa
Procurement - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8096
Fax: +966 (0) 11 874 84444
srm@maaden.com.sa
Public & Media Affairs - Riyadh
P.O. Box 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8409
Fax: +966 (0) 11 874 8057
media@maaden.com.sa
Jeddah
P.O. Box 13784 Jeddah 21414
Kingdom of Saudi Arabia
Tel: +966 (0) 12 229 2600
Fax: +966 (0) 12 229 2651
Al Khobar
P.O. Box 32001 Al Khobar 31952
Kingdom of Saudi Arabia
Tel: +966 (0) 13 811 1970
Fax: +966 (0) 13 811 1964
Jubail
P.O. BOX 11110 Jubail 31961
Kingdom of Saudi Arabia
Tel: +966 (0) 13 347 3333
Fax: +966 (0) 13 347 5682
Investor Relation - Riyadh
P.O BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8123
Fax: +966 (0) 11 874 8132
invest@maaden.com.sa

STRATEGIC BUSINESS UNITS - SBU

Aluminium - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Fax: +966 (0) 11 874 8187
aluminiumsales@maaden.com.sa
Phosphate - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8329
mktg-online@maaden.com.sa
Gold - Jeddah
P.O BOX 13784 Riyadh 21414
Kingdom of Saudi Arabia
Tel: +966 (0) 12 229 2600
Fax: +966 (0) 12 229 2651
About Image

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES DEVELOPMENTS REGARDING THE USE OF PROCEEDS FROM THE RIGHTS ISSUE SHARES SUBSCRIPTION

Apr 27, 2015

Saudi Arabian Mining Company (Maaden) announces the developments of the use of proceeds from its rights issue shares subscription, which was held during 18-11-2014 to 02-12-2014, where the received gross proceeds amounted to (SAR 5.6) billion. As at 31/3/2015, the used proceeds were SAR 1,804 million and the remaining proceeds were SAR 3,796 million.

The expenses details and projects progress percentages compared with what was declared in the rights issue prospectus are as follows:

1. Offering Expenses:

Offering expenses were SAR 23.9 million as compared to (SAR 21) million stated in the rights issue prospectus. The reason for the increase in offering expenses was the increase in advisory fees from those estimated.

2. Maaden Waad Al-Shamal Phosphate Company:

As stated in the prospectus, the Company used (SAR 1,263) million from the proceeds as at 31/03/2015, to repay outstanding amounts under its redrawable murabaha finance facility which had been temporarily used to fund costs incurred by Maaden Waad Al Shamal Phosphate Company. The remaining amount (SAR 3,799) million will be used to complete financing the companys equity investment in the project. The total amount to be used from the offering proceeds to fund the Maaden equity investment in Maaden Waad Al Shamal Phosphate Company as per the prospectus will be (SAR 5,062) million.

Construction progress reached the following levels as of 31/03/2015G:

Completed 18.2% of the Beneficiation Plant compared to 9.2% as at 30/8/2014G, as stated in the prospectus.
Completed 41.4% of the Sulphuric Acid Plant compared to 25.7% as at 30/8/2014G, as stated in the prospectus.
Completed 34.7% of the Phosphoric Acid Plant compared to 12.6% as at 30/8/2014G, as stated in the prospectus.
Completed 47% of the Ammonia Plant compared to 14.6% as at 30/8/2014G, as stated in the prospectus.
Completed 28.6% of the Daimmonium phosphate (DAP) Plant compared to 8.0% as at 30/8/2014G, as stated in the prospectus.

3. Maaden Bauxite and Alumina company:

As stated in the prospectus, the Company used (SAR 509) million of the proceeds from the offering as at 31/03/2015, to repay amounts currently outstanding under its redrawable murabaha finance facility which had been temporarily used to fund costs incurred by Maaden Bauxite and Alumina Company and (SAR 7) million to fund the balance of its equity contribution to the project.

Construction progress completed for Maaden Bauxite and Alumina Company project as of 31/03/2015G was 99% compared to 94.69% completion as of 29/08/2014G as mentioned in the prospectus.

Any other material developments will be announced in due course.

For further information please contact:

Mr. Bander M. Al-Aida
Section Head, Media Relations

E: media@maaden.com.sa

MEDIA CONTACTS

Mr. Bander M. Al-Aida

Section Head, Media Relations

media@maaden.com.sa

Annual Report 2014

Annual Report
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