SAVOLA GETS CMA APPROVAL TO RAISE ITS CAPITAL

Further to the announcements made by the Savola Group )Savola) through the Saudi Stock Exchange (Tadawul) on 1 May, 2013 related to its acquisition of Al-Muhaidib Holding Company 10.0% shareholding in Savola Foods Company and 18.6% (direct and indirect) stake and shareholding in Azizia Panda United Company, in exchange for issuing 33,980,684 new shares in Savola to Al-Muhaidib Holding Company (Transaction), Savola would like to announce that it has obtained the Capital Market Authority (CMA) approval on Monday 7 October 2013 to increase its capital from SR 5,000,000,000 to SR 5,339,806,840 for the purpose of acquiring the entire direct and indirect ownership of Al-Muhaidib Holding Company Limited in the above mentioned Savola Subsidiaries.

Dr. Abdulraouf Mannaa, CEO and MD, Savola Group mentioned that Savola has already uploaded on its website www.savola.com a disclosure document issued to its shareholders related to the objectives and rationale of the capital increase, which can be accessed through the following web-link:
http://www.savola.com/SavolaA/index.php
Savola will announce the date of the Extraordinary Shareholders Assembly Meeting (EGM) after securing the Ministry of Commerce and Industry approval in this regard, and such EGM announcement will be published in Tadawul and then in two local newspapers as per regulations within the period prescribed by related regulations, as this transaction is subject to EGM Approval.
Savola will announce to the market any material developments in this connection.