THE SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THE RESULTS OF THE TWO SUBSCRIPTION PERIODS AND THE DETAILS FOR SELLING THE UNSUBSCRIBED SHARES
The Saudi Arabian Mining Company (the Company) announces that during the First Subscription Period, which started on Tuesday 25/01/1436H (corresponding to 18/11/2014G) and ended on 05/02/1436H (corresponding to 27/11/2014G), the number of subscribed shares amounted to 63,393,266 shares of a total value of 1,458,045,118 SAR representing 26.04% of the New Shares.
The Company also announces that during the Second Subscription Period, which started on Sunday 08/02/1436H (corresponding to 30/11/2014G) and ended on Tuesday 10/02/1436H (corresponding to 02/12/2014G), the number of subscribed shares amounted to 165,392,390 shares of a total value of 3,804,024,970 representing 67.93% of the New Shares.
Accordingly, the total number of subscribed shares amounted to 228,785,656 New Shares at the value SAR 5,262,070,088, with a coverage percentage of 93.97%.
The Details for Selling the shares fractions and the Unsubscribed Shares:
The Company announces that the unsubscribed shares (Rump Shares) shall be offered to Institutional Investors who will be invited by the Lead Managers HSBC Saudi Arabia and GIB Capital after consultation with the Company, provided that those Institutional Investors submit offers for purchasing the Rump Shares. Receipt of those shares shall start at 10:00 AM on Sunday 15/02/1436H (corresponding to 07/12/2014G) and shall continue until 10:00 AM on the second day, on Monday 16/02/1436H (corresponding to 08/12/2014G). The Rump Shares shall be allocated to Institutional Investors with the highest offer, then to the next one (provided that it is not below the offer price). The allocation of those shares to the Institutional Investors submitting the same offer shall be pro rata. Fractional shares shall be added to the Rump Shares and treated in the same manner.
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