Saudi Electricity Company announces the results of the special meeting of the holders of the Saudi Electricity Sukuk 3 with an aggregate nominal amount of SAR 7,000,000,000 expiring 2030G (the Sukuk), which was convened at 7:30 p.m. on Wednesday, 07/08/1438H corresponding to 03/05/2017G at the Companys head office in Granada Oasis Tower A1, Riyadh, Kingdom of Saudi Arabia (the Meeting). After achieving the required quorum (with 97.5% attendance ratio), the result of the vote in respect of the agenda of the Meeting was as follows:
The approval of the proposed modifications (as set out in the attached document) of the terms and conditions of the Sukuk.
As resolved at the Meeting, the Company will purchase SAR1,269,310,000 in aggregate nominal value of Sukuk (which is equivalent to 18.13% of the aggregate nominal value of the Sukuk as at 10 May 2017G) and the New Purchase Date (as defined in the attached document) occurring in May 2022G has been added in respect of the remainder of the Sukuk.
A new margin of 1.35% (instead of 0.95%) will be applied for the purpose of determining the remaining periodic distribution amounts for the Sukuk which will not be purchased on 10 May 2017G
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