United Mining Says Knauf Announces Firm Intention To Make Tender Offer To Acaquire Company

About this update from United Mining Industries Company

UNITED MINING INDUSTRIES COMPANY SJSC TADAWUL:9583:LATEST DEVELOPMENTS REGARDING ANNOUNCEMENT ON RECEIVING NOTIFICATION FROM KNAUF INTERNATIONAL GMBHUNITED MINING INDUSTRIES - ANNOUNCE KNAUF'S FIRM INTENTION TO MAKE TENDER OFFER TO ACQUIRE UP TO 100% OF REMAINING SHARES OF COPURSUANT TO TENDER OFFER, KNAUF TO ACQUIRE UP TO 5.1 MILLION SHARES IN UMI FOR CASH CONSIDERATION OF SAR 57/SHAREACQUISITION BY KNAUF PURSUANT TO TENDER OFFER MAY RESULT IN KNAUF HOLDING UP TO 100% OF UMI’S SHARE CAPITALIF TENDER OFFER IS FULLY ACCEPTED BY SHAREHOLDERS AGGREGATE CONSIDERATION PAYABLE BY KNAUF WILL AMOUNT TO SAR 293.5 MILLIONFOLLOWING COMPLETION OF TENDER OFFER, KNAUF INTENDS TO TAKE NECESSARY STEPS FOR DELISTING OF UMI FROM TADAWUL

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