Alhammadi Company for Development and Investment announces the development of use of proceeds of its IPO that took place in 13-08-1435H to 19-08-1435H corresponding to 11-06-2014G to 17-06-2014G as follows:
1. IPO gross proceeds amounted to SAR 630 million.
2. IPO net proceeds amounted to SAR 605.3 million after deducting IPO expenses of SAR 24.7 million.
3. Total proceeds used as 30 September 2014 are SAR 45.1 million.
4. Alhammadi Hospital AlNuzha branch completion rate 58% as of September 2014 as compared to 45% as stated in the prospectus.
5. The project is progressing in accordance with the plan disclosed in the prospectus with no deviations.
6. Payments against work in progress are as per the payment terms agreed with suppliers and do not necessarily reflect the project completion rates.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.