Logo of Saudi Arabian Mining Co. (Maaden)
The Capital Market Authority (CMA) approved today, June 2, Saudi Arabian Mining Co.’s (Maaden) request to increase its capital from SAR 38.03 million to SAR 38.89 million, through issuing 85.98 million ordinary shares. 
The capital hike is aims to finance the full acquisition of Alcoa Saudi Smelting Inversiones S.L.’s stake in Maaaden Aluminium Co., (MAC) as well as the entire stake held by AWA Saudi Ltd in Maaden Bauxite and Alumina Co. (MBAC).
For more news and details on MAs
In a statement, the CMA said a shareholders circular will be published within sufficient time before the deciding extraordinary general meeting (EGM) of Maaden.
The CMA resolution included an approval of the proposed offer timetable and the publication of the offer document by Maaden to GGI shareholders to merge the two entities through a share swap.
The offer document of Maaden will be published to GGI shareholders for the merger process within sufficient time before the EGM of GGI.
The offer document should include all relevant information that shareholders need to know before making an informed decision when voting on the offer, including the offer information and risk factors.
A voting decision without reading the shareholder circular and the offer document carefully may involve high risks. Therefore, shareholders should carefully read the circular and the offer document to reach a proper voting decision.
The CMA’s approval should never be considered as an endorsement of the merger’s feasibility. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
Logo of Saudi Arabian Mining Co. (Maaden)
The Capital Market Authority (CMA) approved today, June 2, Saudi Arabian Mining Co.’s (Maaden) request to increase its capital from SAR 38.03 million to SAR 38.89 million, through issuing 85.98 million ordinary shares.
The capital hike is aims to finance the full acquisition of Alcoa Saudi Smelting Inversiones S.L.’s stake in Maaaden Aluminium Co., (MAC) as well as the entire stake held by AWA Saudi Ltd in Maaden Bauxite and Alumina Co. (MBAC).
For more news and details on MAs
In a statement, the CMA said a shareholders circular will be published within sufficient time before the deciding extraordinary general meeting (EGM) of Maaden.
The CMA resolution included an approval of the proposed offer timetable and the publication of the offer document by Maaden to GGI shareholders to merge the two entities through a share swap.
The offer document of Maaden will be published to GGI shareholders for the merger process within sufficient time before the EGM of GGI.
The offer document should include all relevant information that shareholders need to know before making an informed decision when voting on the offer, including the offer information and risk factors.
A voting decision without reading the shareholder circular and the offer document carefully may involve high risks. Therefore, shareholders should carefully read the circular and the offer document to reach a proper voting decision.
The CMA’s approval should never be considered as an endorsement of the merger’s feasibility. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
