Tadawul

ELEMENT LIST EXPLANATION
Announcement Detail Shaker Co. is pleased to announce to its shareholders that the Board of Directors has approved (dated 03/02/2019) the implementation of its Breakthrough Program, for delivering the Company’s vision. The Program will focus on Core Business Turnaround, Talent Upgrade Plan, Performance Infrastructure and Strategic Moves.
Shaker Group announced the launch of its Breakthrough Program, with four pillars for improving performance.

• The first pillar, Core Business Turnaround (CBT), will focus on achieving profitable sales while delivering excellence in cost management by targeting Business to Business (B2B), Business to Consumers (B2C), Business to Government and After sales opportunities, also covering operating efficiencies and improved working capital management.

• The second pillar, Talent Upgrade Plan (TUP), aims to attract and develop talent at the Company while improving the organisational structure of the Company in all its sectors. Shaker Group’s plan also aims to attract qualified professionals with deep sector knowledge and high ambition to support the Company in achieving its objectives, in addition to enhancing talent in the sales force.

• The third pillar, Performance Infrastructure (PI), will see improvements to the processes and architecture of the business, as well as enhancing reporting methods, by establishing a Transformation Office for driving and monitoring turnaround progress.

• The fourth pillar, Strategic Moves (STR), will see strengthening of relationships with principals and business partners and exploration of opportunities beyond core operations, to ensure an unparalleled value proposition to customers.

The Breakthrough program’s financial impact can not be identified at the time being as it based on the market conditions.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.