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01.30.17

Agthia Appoints Tariq Al Wahedi as Acting CEO

Abu Dhabi, UAE; 14 January 2017: Agthia Group PJSC (“Agthia”), a leading food and beverage group in the UAE, has announced the appointment of Tariq Ahmed Saeed Al Wahedi as Acting Chief Executive Officer following the resignation of Iqbal Hamzah.

Mr Wahedi has over 20 years’ experience across a range of sectors and leadership roles and is currently Chief Operating Officer of Agthia, providing consistency in leadership as the Group continues to execute its strategy to reach revenues of US$1 billion by 2020.

As COO, Mr Wahedi has been leading Agthia’s manufacturing and supply chain operations, with responsibility for the Group’s largest commercial business units of Flour and Animal Feed. A UAE national, Mr Wahedi graduated with a degree in Engineering from the University of Tulsa and holds
an Executive MBA from Kellogg School of Management.

Commenting on the appointment, HE Eng Dhafer Ayed Al Ahbabi, Chairman of Agthia, said: “Iqbal Hamzah played an integral role in Agthia’s development and expansion over the last 10 years and, on behalf of the Board and the wider Group, I thank him for his dedication and wish him well for the future. Agthia remains on track to deliver on its 2020 strategy and the appointment of Tariq Al Wahedi as Acting CEO demonstrates the strength and depth in the Group’s senior management team, while also ensuring that there is a seamless transition in Agthia’s executive leadership.”

Agthia reported net profit of AED 200 million for the nine-month period ended 30 September 2016, an increase of 12 percent on the previous year, with net revenues rising by 11 percent to AED 1.52 billion. The Group’s water business represented 32 percent of net revenues, and grew 27 percent
against the same period in 2015.

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About Agthia

Agthia Group is a leading Abu Dhabi based food and beverage company. Established in 2004, the Company is listed on the Abu Dhabi Securities Exchange (ADX) and has the symbol “AGTHIA”. 51 percent of the Company’s shares are held by Senaat (General Holding Corporation), an Abu Dhabi Government entity, with the balance held by retail and institutional investors. The Company’s assets are located in the UAE, Oman, Egypt and Turkey. Agthia offers a world class portfolio of integrated businesses providing high quality and trusted food and beverage products for customers and consumers across the UAE, GCC, Turkey and the wider Middle East. More than 3,000 employees are engaged in manufacturing, distribution and marketing various food and beverage products: Water (Al Ain, Al Bayan, Alpin natural spring water); Flour (Grand Mills); Animal Feed (Agrivita); Juices (Al Ain Fresh, Capri Sun); Dairy (Yoplait). An Emerging Businesses unit includes tomato paste, frozen vegetables, fruit puree, and baked goods. For more information: www.agthia.com | Ozgur Serin | Agthia Group |
Tel: 971 2 506 0600 | ir@agthia.com | Tom Drummond | Brunswick Group | Tel: 971 54 305 6609 | agthia@brunswickgroup.com


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