Maaden announces the result of the rump offering

The Saudi Arabian Mining Company announced on Tadawul that the subscription period for the New Shares amounted to 243.5m shares has ended.

During the First and the Second Subscription Period, which started 18/11/2014 and ended on Tuesday 02/12/2014, the number of subscribed shares amounted to 228.8m with a total value of SAR 5.26bn representing a coverage ratio of 93.97% of the New Shares.

The Company also announced the end of the Rump Offering period on Monday 08/12/2014. During this period, 14.7m shares have been offered to Institutional Investors. The offering coverage ratio was 345%, and the average subscription price was SAR 28.21 per share.

The proceeds of the rump shares subscription and fractional shares amounted to SAR 414.4m and the net value for the compensation to the holders of rights which were not exercised and fractional shares amounted to SAR 76.5m.

The newly issued shares will be deposited into the shareholders portfolios on Sunday 14/12/2014.