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THE SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THE APPOINTMENT OF A FINANCIAL ADVISOR TO MANAGE THE PROPOSED RIGHTS ISSUE

 

May 26, 2014

Reference is made to the announcement issued by the Saudi Arabian Mining Company (Maaden) dated 15/05/2014 in respect of the recommendation of the Board of Directors in its meeting held on 15/05/2014 to the Extra-ordinary General Assembly to increase the company capital through a rights issue with a total value of SAR 5,600,000,000, subject to obtaining the approvals of the competent regulatory authorities and the Extra-ordinary General Assembly on the capital increase, and setting the price and number of shares to be issued.

Maaden has appointed HSBC Saudi Arabia Ltd on 26/05/2014 as the financial advisor in connection with the proposed Right Issue.