Saudi Arabian Mining Company (Ma’aden) announces an Update on the signing of a Share Purchase and Subscription Agreement for the acquisition of the entire share of Mosaic Phosphates B.V. in Ma’aden Wa’ad Al Shamal Phosphate Company by means of a capital increase by issuing new shares in Ma’aden to Mosaic Phosphates B.V.
| Element List | Explanation |
|---|---|
| Introduction | Further to the previous announcement published on Tadawul on 21/10/1445H (corresponding to 30/04/2024G) in relation to the Saudi Arabian Mining Company ("Ma'aden") signing a Share Purchase and Subscription Agreement for the acquisition of the entire share of Mosaic Phosphates B.V. in Ma'aden Wa'ad Al Shamal Phosphate Company by means of increasing Ma'aden's share capital, Ma'aden would like to announce to its valued shareholders that it has received the approval of the Capital Market Authority on 02/05/1446H (corresponding to 04/11/2024G) on its application to increase its share capital from thirty six billion nine hundred seventeen million seven hundred thirty four thousand and three hundred and eighty Saudi Riyals (SAR 36,917,734,380) to thirty eight billion twenty seven million eight hundred fifty eight thousand and seven hundred and ten Saudi Riyals (SAR 38,027,858,710) and increasing the number of Ma’aden’s shares from three billion six hundred ninety one million seven hundred seventy three thousand and four hundred and thirty eight (3,691,773,438) ordinary shares to three billion eight hundred two million seven hundred eighty five thousand eight hundred seventy one (3,802,785,871) ordinary shares and issuing one hundred eleven million twelve thousand and four hundred thirty three (111,012,433) new ordinary shares, with nominal value of SAR 10 per share (the "New Shares"), in Ma’aden to Mosaic Netherlands Holding Company, as the designated recipient of the New Shares (the “Transaction”).
Ma'aden will complete the necessary procedures for the completion of the Transaction, including obtaining the extraordinary general assembly approval on the capital increase, and Ma'aden will announce the relevant procedures and publish the shareholders circular prepared for the purpose of increasing Ma'aden's share capital in due course and in advance of the aforementioned extraordinary general assembly meeting. |
| Previous Announcement | Saudi Arabian Mining Company (Ma’aden) announcement of the signing of a Share Purchase and Subscription Agreement for the acquisition of the entire share of Mosaic Phosphates B.V. in Ma’aden Wa’ad Al Shamal Phosphate Company by means of a capital increase by issuing new shares in Ma’aden to Mosaic Phosphates B.V. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-04-30 Corresponding to 1445-10-21 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Obtaining the approval of the Capital Market Authority on Ma'aden's capital increase. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
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