February
Savola Group announces its Board of Directors’ recommendation to distribute its entire stake in Almarai to Savola’s eligible shareholders and launches rights issue
Savola Group announced the distribution of its entire 34.52% stake in Almarai to eligible shareholders following a % 6 billion rights issue.
April
Savola Group submits %6 billion capital increase through rights issue file to CMA
Savola Group submitted its application to the Capital Market Authority (CMA) for a capital increase from %5.34 billion to %11.34 billion, through a %6 billion rights issue.
May
Savola joins the Sustainability Champions at the World Economic Forum
Savola Group signed a MoU and joined the Sustainability Champions alongside 19 leading companies in Saudi Arabia during the World Economic Forum. This initiative highlights Savola’s commitment to advancing sustainable practices and contributing to environmental and social progress, in line with Saudi Vision 2030.
June
Savola World Foundation partners with Eta’am for “Hajj Without Waste” initiative
The partnership with Eta’am focuses on reducing food waste during the Hajj pilgrimage 1445H, emphasizing resource conservation and reinforcing the company’s commitment to sustainability and social impact.
July
Savola ranks among the Top 100 Companies in the Middle East by Forbes Middle East
Savola Group was ranked among the Top 100 Companies in the Middle East by Forbes, recognizing its strong financial performance, innovative business strategies, and significant contributions to the regional economy and food industry.
August
Savola Group’s EGM approves the Board of Directors’ recommendation to increase the capital through rights issue
Savola Group announced that the EGM has approved the Board of Directors’ recommendation to increase its capital through rights issue.
Savola Group sets the rights issue trading and newly issued shares subscription period
Savola Group announced the period of its rights issue trading and subscription to the new issued
shares.
September
Savola Group raises %6 billion (USD 1.6 billion) in rights issue
The company offered 600 million shares to raise %6 billion, (USD 1.6 billion). Shareholders subscribed to 564.9 million shares, and the rump offering bid reached 814.2%.
Savola was recognized among the ‘Sustainability Leaders 2024’ by Forbes Middle East
Waleed Khalid Fatani, CEO of Savola Group, was recognized by Forbes as one of the top sustainability leaders, showcasing Savola Group’s commitment to sustainable business practices.
October
Savola receives CSR award (silver tier) by Ministry of Human Resources and Social Development
This recognition highlights Savola’s commitment to corporate social responsibility and the positive impact it has made in the community.
Savola is recognized among 100 Best Workplaces in Asia 2024 by Great Place to Work
This recognition highlights Savola’s commitment to fostering an inclusive, engaging, and
high-performing work environment.
November
Savola Group Wins Corporate Happiness Award for Excellent Work Environment
This prestigious honor highlights the company’s outstanding commitment to building a positive and supportive workplace culture.
December
Savola Group announces the redemption (buyback) and cancellation of the entire Sukuk issued in 2019
Savola Group announced the redemption (buyback) and cancellation of %1 billion (USD 266.7 million) Sukuk that were issued in 2019 to optimize its financial structure.
Savola is acknowledged for excellence in Corporate Governance
Savola Group was selected for the 4th consecutive year to be one of the highest-ranking companies in Corporate Governance among non-financial companies listed on Tadawul according to the Alfaisal Corporate Governance Index (Alfaisal CGI) assessment for Fiscal Year 2024.
Savola Group attains the Mowaamah certificate from the Ministry of Human Resources and Social Development
Savola Group received the Mowaamah certificate for their excellence in fostering a comprehensive, compatible and supportive work environment for employees with disabilities, embedding diversity in their culture and vision.
The Board of Directors’ recommendation to reduce the capital and distribute the entire Almarai shares to Savola’s eligible shareholders, and the EGM’s approval of these recommendations
Savola Group has announced that its Board of Directors has recommended capital reduction from %11.34 billion to %3 billion and the distribution of its entire Almarai stake to Savola’s eligible shareholders (the Significant Transaction). These recommendations have been approved by the Extraordinary General Meeting (EGM), after completing the all the regulatory requirements in this respect.
Edaa implements capital reduction on Savola
The Securities Depository Center Co. (Edaa) applied the reduction in the number of Savola Group shares to the portfolios of eligible shareholders, following the EGM approval of the Capital Reduction and the significant transaction.
Deposit of Almarai shares into shareholders’ portfolios
Savola Group announces the deposit of Almarai shares to eligible shareholders’ portfolios as compensation for the cancellation of shares resulting from the capital reduction and the significant transaction.
Savola Group sells Iran business
Savola Group announces the signing of a binding Sale and Purchase Agreement by its subsidiary Savola Foods Company for the sale of its entire businesses in Islamic Republic of Iran for an amount equivalent to %705 million (USD 188 million).
