Highlights

Transfer to the Casablanca stock exchange of a minority stake of the Company for the Management of the ports "Marsa Maroc" : 14/06/2016

Transfer to the Casablanca stock exchange of a minority stake of the Company for the Management of the ports "Marsa Maroc"

As part of the listing of "Marsa Maroc" on the stock exchange and the sale of a minority stake of 40% of the public shareholding in the capital of the said company, a Road Show was launched on June 15th, 2016 at the Casablanca Stock Exchange, by the organization of two opening meetings respectively in favor of journalists and financial analysts, in the presence of the Director General of the Casablanca Stock Exchange.

Both meetings were chaired by officials of the Ministry of Economy and Finance (MEF) and the “Marsa Maroc” company, namely, Mrs. Najat Saher, Head of the Division of Privatization in the Directorate of Public Enterprises and Privatization, Mr. Mohamed Abdeljalil, CEO of Marsa Maroc and Mr. Mustapha Sahabi, CFO of the same company, together with representatives of banks, a board authorized by the MEF as part of this action.

This stock market listing was initiated by the MEF under Law No. 39-89 relating to the transfer of public enterprises to the private sector and Law No. 15-02 relating to ports.

It is intended to further strengthen the market position of Marsa Maroc and to accompany this new momentum which will open up new opportunities for growth and development and enable it to establish its achievements as a modern company operating in a sector that is constantly evolving and open to competition.

Indeed, this measure which is part of the implementation of the port reform aims primarily to institutionalize the capital of Marsa Maroc by associating it with new partners, strengthen its governance, facilitate the access to funding through the financial market and involve its employees and pensioners in the development of their business.

This action was organized jointly with the Assessing Entity, the Transfers Commission (respectively for fixing the minimum price and the structuring of services), the Ministry of Equipment, Transport and Logistics and the Management of the company Marsa Maroc. The “MEF” was accompanied, in this operation, by a group of legal and sector-based financial experts.

Finally, it should be noted that:

Marsa Maroc obtained , June 10th 2016, the approval of the Moroccan Capital Markets’ Authority;

This action of 1.9 billion dirhams is the largest listing on the Moroccan stock market since 2009;

The subscription period runs ​​from June 20th to 30th , 2016, for a first listing scheduled July 19th , 2016;

Action will be sold at the reference fixed-price of 65 DH, set by the Ministry of Economy and Finance after recommendations by the Assessing Entity.