Hail Cement Co. announces the the effectiveness of the Acquisition Transaction with Qassim Cement Company
| Element List | Explanation |
|---|---|
| Announcement Detail | Further to the announcement made by Hail Cement Co (“HCC”) dated 5/12/1445H corresponding to 11/6/2024G in respect of the results of the HCC Extraordinary General Assembly Meeting accepting offer by the Qassim Cement Company (“QCC”) to acquire all shares issued in HCC in accordance with Article (26) of the Merger and Acquisition Regulations (the “Transaction”), HCC would like to announce the following:
- The effectiveness of the Transaction resolutions which, as a result, the trading of HCC shares have been suspended until HCC is delisted from the Saudi Stock Exchange (Tadawul).
- As a result of the Transaction, HCC will be delisted and will be fully owned by QCC; and in consideration QCC will issue, by increasing its paid-up capital, a total of twenty million five hundred fifty nine thousand (20,559,000) ordinary shares with a nominal value of (10) Saudi Riyals per share in QCC to HCC’s shareholders who are registered in HCC’s share register at the Saudi Securities Depository Center Company (Edaa) at the end of trading on Monday 4/12/1445H corresponding to 10/6/2024G. |
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