Regarding the announcement made by Middle East Paper Company (the "Company" or "MEPCO") on Tadawul on January 14, 1445H (or January 8, 2023G), regarding the execution of a legally binding subscription agreement (the "Subscription Agreement") between the Company and the Public Investment Fund ("PIF") on January 13, 1445H (or July 31, 2023G), to raise the Company's capital from 666,666,660 Saudi Riyals to 866,666,650 Saudi Riyals PIF has agreed to pay MEPCO a subscription amount of SAR 31.50 per new share, for a total subscription amount of SAR 629,999,968.50, as complete consideration for the issuing of the new shares. PIF will fully subscribe for the new shares, resulting in a 23.08% ownership stake in MEPCO's share capital following the capital increase, pending approval from the Capital Market Authority and the Extraordinary General Assembly. MEPCO announces the submission of a request for authorization to expand the company's capital with suspension of preemptive rights to the Capital Market Authority on Thursday, February 18, 1445H (equivalent to September 3, 2023G).
