Logo ofUnited Mining Industries Co. (UMI)
Saudi Arabia’s Capital Market Authority (CMA) approved on Sept. 21 the publication of the offer document and timetable for Knauf International’s proposal to acquire up to 100% of the remaining shares in United Mining Industries Co. (UMI). 
In a statement to Tadawul, United Mining said, on behalf of Knauf, it is announcing the publication of the following documents:
First: The offer document prepared by Knauf and addressed to the company’s shareholders, detailing the takeover offer in accordance with Article 38 of the Merger and Acquisition Regulations.
Second: The timetable outlining the key stages of the takeover offer and the relevant dates for completing each stage, in accordance with Paragraph (c) of Article 17 of the Merger and Acquisition Regulations.
United Mining emphasized the importance of shareholders carefully reading and reviewing all information contained in the offer document before making a decision regarding the takeover offer.
It added that shareholders who are uncertain about the decision they should make regarding the offer should consult an independent financial adviser licensed by the CMA.
Each shareholder is responsible for conducting their own independent assessment of the takeover offer and the information contained in the offer document.
The company also emphasized the importance of shareholders carefully reading and reviewing all information contained in the board of directors’ circular, which will be issued by the company’s board, before making a decision regarding the takeover offer.
Timeline of Key Takeover Steps
Event
Expected Date
Publication of the offer document and United Mining’s board of directors’ circular
Sept. 27, 2026
Availability of documents for inspection
Sept. 27, 2026
Start of the acceptance period for United Mining shareholders, excluding Knauf
Sept. 27, 2026
Closing date of the takeover offer
Nov. 4, 2026. Any amendment to the offer must be made no later than one business day before the end of the offer period.
Deadline for United Mining to announce dividends, dividend forecasts, asset valuations, or dividend distribution proposals
Nov. 17, 2026, no later than 60 days after publication of the offer document
Deadline for Knauf to revise the takeover offer or publish new information related to it
Nov. 17, 2026, no later than 60 days after publication of the offer document. Any cancellation of the offer must be made no later than two business days before the settlement date.
Allocation and transfer of the acquired shares to Knauf
Nov. 18, 2026, no later than 10 days after all other conditions are satisfied
Payment of the consideration to selling United Mining shareholders
Nov. 18, 2026, no later than 10 days after all other conditions are satisfied
Announcement of the completion of the takeover by United Mining/Knauf
Nov. 19, 2026
According to data available with Argaam, United Mining received a notice from Knauf in May regarding the completion of a private transaction to acquire all shares held by the company’s major shareholders, totaling 8.9 million ordinary shares.
The shares represent 63.2% of the company’s total share capital and were acquired for SAR 504.5 million.
In June, Knauf announced its firm intention to make a takeover offer for United Mining pursuant to Paragraph (e) of Article 17 of the Merger and Acquisition Regulations, subject to the terms, conditions, and procedures to be disclosed in the offer document upon its publication.
Knauf, which currently owns 63.2% of United Mining’s shares, is offering to acquire up to 5.15 million shares, representing all shares not already owned by Knauf, for SAR 57 per share.
Logo ofUnited Mining Industries Co. (UMI)
Saudi Arabia’s Capital Market Authority (CMA) approved on Sept. 21 the publication of the offer document and timetable for Knauf International’s proposal to acquire up to 100% of the remaining shares in United Mining Industries Co. (UMI).
In a statement to Tadawul, United Mining said, on behalf of Knauf, it is announcing the publication of the following documents:
First: The offer document prepared by Knauf and addressed to the company’s shareholders, detailing the takeover offer in accordance with Article 38 of the Merger and Acquisition Regulations.
Second: The timetable outlining the key stages of the takeover offer and the relevant dates for completing each stage, in accordance with Paragraph (c) of Article 17 of the Merger and Acquisition Regulations.
United Mining emphasized the importance of shareholders carefully reading and reviewing all information contained in the offer document before making a decision regarding the takeover offer.
It added that shareholders who are uncertain about the decision they should make regarding the offer should consult an independent financial adviser licensed by the CMA.
Each shareholder is responsible for conducting their own independent assessment of the takeover offer and the information contained in the offer document.
The company also emphasized the importance of shareholders carefully reading and reviewing all information contained in the board of directors’ circular, which will be issued by the company’s board, before making a decision regarding the takeover offer.
Timeline of Key Takeover Steps
Event
Expected Date
Publication of the offer document and United Mining’s board of directors’ circular
Sept. 27, 2026
Availability of documents for inspection
Sept. 27, 2026
Start of the acceptance period for United Mining shareholders, excluding Knauf
Sept. 27, 2026
Closing date of the takeover offer
Nov. 4, 2026. Any amendment to the offer must be made no later than one business day before the end of the offer period.
Deadline for United Mining to announce dividends, dividend forecasts, asset valuations, or dividend distribution proposals
Nov. 17, 2026, no later than 60 days after publication of the offer document
Deadline for Knauf to revise the takeover offer or publish new information related to it
Nov. 17, 2026, no later than 60 days after publication of the offer document. Any cancellation of the offer must be made no later than two business days before the settlement date.
Allocation and transfer of the acquired shares to Knauf
Nov. 18, 2026, no later than 10 days after all other conditions are satisfied
Payment of the consideration to selling United Mining shareholders
Nov. 18, 2026, no later than 10 days after all other conditions are satisfied
Announcement of the completion of the takeover by United Mining/Knauf
Nov. 19, 2026
According to data available with Argaam, United Mining received a notice from Knauf in May regarding the completion of a private transaction to acquire all shares held by the company’s major shareholders, totaling 8.9 million ordinary shares.
The shares represent 63.2% of the company’s total share capital and were acquired for SAR 504.5 million.
In June, Knauf announced its firm intention to make a takeover offer for United Mining pursuant to Paragraph (e) of Article 17 of the Merger and Acquisition Regulations, subject to the terms, conditions, and procedures to be disclosed in the offer document upon its publication.
Knauf, which currently owns 63.2% of United Mining’s shares, is offering to acquire up to 5.15 million shares, representing all shares not already owned by Knauf, for SAR 57 per share.
