Saudi Arabian Oil Company Saudi Aramco Announcement (3401W)
17 April 2023 - 4:00PM
UK Regulatory
TIDM64EZ
RNS Number : 3401W
Saudi Arabian Oil Company
17 April 2023
Saudi Arabian Oil Company (Saudi Aramco) (the "Company")
addresses the recent development announced by the State in
connection with the State's transfer of a portion of the State's
ownership in the Company to the Sanabil Investments (Sanabil)
Reference is made to the State's announcement on the Saudi Press
Agency on 25/9/1444H (corresponding to 16/04/2023G) in relation to
the State's transfer of 4% of the Saudi Arabian Oil Company's
shares to the Sanabil.
Following the transfer, the State remains Saudi Aramco's largest
shareholder, retaining 90.186% shareholding.
This is a private transfer between the State and Sanabil, and
the Company is not a party to the transfer and did not enter into
any agreements or pay or receive any proceeds from the
transfer.
The transfer will not affect the Company's total number of
issued shares, and the shares transferred will rank equally
alongside other existing ordinary shares in the Company.
The transfer does not have an impact on the Company's
operations, strategy, dividends distribution policy or governance
framework.
The Company will announce any material development as required
by the applicable rules and regulations.
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END
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