Qassim Cement’s plant
Qassim Cement Co. (QCC) and Hail Cement Co. will hold the extraordinary general meeting (EGM) on June 10. 
In a statement to Tadawul, Qassim Cement said shareholders are set to vote on increasing the capital from SAR 900 million to SAR 1.11 billion to acquire all shares of Hail Cement, totaling 97.9 million shares, during.
Capital Hike Details
Current Capital
SAR 900 mln
Number of Shares
90 mln
Percentage Increase
22.8 %
New Capital
SAR 1.10 bln
New Number of Shares
110.56 mln
Purpose of Capital Hike
To acquire all shares of Hail Cement in accordance with the provisions of Article 26 of the Merger and Acquisition Regulations issued by the Capital Market Authority’s (CMA) Board.
Method
Issuance of 20.56 million shares with a nominal value of SAR 10 per share to Hail Cement shareholders, by issuing 0.21 share in Qassim Cement for each Hail Cement share.
Qassim Cement indicated that the capital increase will be in accordance with the terms and conditions of the implementation agreement and will take effect upon approval by the EGMs of both Qassim Cement and Hail Cement (completion of the acquisition deal).
In a separate statement, Hail Cement said its shareholders will vote on the offer submitted by Qassim Cement to Hail Cement shareholders for the purpose of acquiring all Hail Cement shares. This will be in exchange for issuing 0.21 share in Qassim Cement for each share owned by Hail Cement shareholders, totaling 20.56 million shares with a nominal value of SAR 10 per share in Qassim Cement to Hail Cement shareholders.
Hail Cement will become an unlisted joint-stock company wholly owned by Qassim Cement, in accordance with relevant regulatory requirements and the terms and conditions of the implementation agreement, including voting on certain aspects in the acquisition deal, the statement added.
Shareholders will vote on the provisions of the implementation agreement signed between Qassim Cement and Hail Cement on Dec. 21, 2023. They will also vote on authorizing Hail Cement’s board of directors, or any person authorized by the board, to issue any decision or take any action that may be necessary to implement any of the aforementioned decisions.
Hail Cement noted that the board of directors’ circular, which includes the board’s opinion on the deal, will be published in due course, inviting shareholders to review all documents that will be published successively on the Tadawul website by both companies.
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Qassim Cement’s plant
Qassim Cement Co. (QCC) and Hail Cement Co. will hold the extraordinary general meeting (EGM) on June 10.
In a statement to Tadawul, Qassim Cement said shareholders are set to vote on increasing the capital from SAR 900 million to SAR 1.11 billion to acquire all shares of Hail Cement, totaling 97.9 million shares, during.
Capital Hike Details
Current Capital
SAR 900 mln
Number of Shares
90 mln
Percentage Increase
22.8 %
New Capital
SAR 1.10 bln
New Number of Shares
110.56 mln
Purpose of Capital Hike
To acquire all shares of Hail Cement in accordance with the provisions of Article 26 of the Merger and Acquisition Regulations issued by the Capital Market Authority’s (CMA) Board.
Method
Issuance of 20.56 million shares with a nominal value of SAR 10 per share to Hail Cement shareholders, by issuing 0.21 share in Qassim Cement for each Hail Cement share.
Qassim Cement indicated that the capital increase will be in accordance with the terms and conditions of the implementation agreement and will take effect upon approval by the EGMs of both Qassim Cement and Hail Cement (completion of the acquisition deal).
In a separate statement, Hail Cement said its shareholders will vote on the offer submitted by Qassim Cement to Hail Cement shareholders for the purpose of acquiring all Hail Cement shares. This will be in exchange for issuing 0.21 share in Qassim Cement for each share owned by Hail Cement shareholders, totaling 20.56 million shares with a nominal value of SAR 10 per share in Qassim Cement to Hail Cement shareholders.
Hail Cement will become an unlisted joint-stock company wholly owned by Qassim Cement, in accordance with relevant regulatory requirements and the terms and conditions of the implementation agreement, including voting on certain aspects in the acquisition deal, the statement added.
Shareholders will vote on the provisions of the implementation agreement signed between Qassim Cement and Hail Cement on Dec. 21, 2023. They will also vote on authorizing Hail Cement’s board of directors, or any person authorized by the board, to issue any decision or take any action that may be necessary to implement any of the aforementioned decisions.
Hail Cement noted that the board of directors’ circular, which includes the board’s opinion on the deal, will be published in due course, inviting shareholders to review all documents that will be published successively on the Tadawul website by both companies.
