Options Available to Shareholders of Ezdan Holding Group

May 30, 2017

The extraordinary general meeting assembly (EGM) of Ezdan Holding Group held on April 24, 2017 approved in principle transforming the company from a public shareholding company to a private joint stock company after all financial and legal procedures have been completed. The Assembly has authorized the Board of Directors to appoint evaluators to prepare a financial statement of the Company's assets, liabilities and approximate value, with a fair value per share as of 30/4/2017, to be presented to shareholders at a subsequent meeting. The Assembly also authorized the Board of Directors to prepare a draft amendment to the Articles of Association of the Company to comply with its initial approved form as a private joint stock company, to be presented to shareholders at a subsequent meeting for adoption. With the right of the shareholders objecting to the transfer decision to apply for the withdrawal within a period of not more than (60) days from the date of the issuance of the initial approval decision on the transformation of the company, including the absentee shareholders.

In light of the inquiries received by The Group on this subject, the options available to investors are as follows:
 
- Shareholder have either to remain in the company with its new status, especially that the approval of transformation is still initial and in principle.
 
- Or sell their shares on the exchange at market price.
 
- Or apply to the Company for withdrawal as stipulated in the General Assembly Resolution on the possibility of obtaining a better price than is available in the market.