| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement made by Umm Al-Qura Cement Company (“UACC” or the “Company”) on the Saudi Exchange website dated 24/04/1446H (corresponding to 27/10/2024G) regarding the entry into an implementation agreement (the “Implementation Agreement”) with City Cement Company (“CCC”), pursuant to which CCC agreed to make an offer to acquire all shares of UACC in exchange for newly issued shares in CCC, in accordance with the Merger and Acquisition Regulations, the Rules on the Offer of Securities and Continuing Obligations, and the terms and conditions of the Implementation Agreement (the “Transaction”), and further to the announcement made by UACC on 16/07/1446H (corresponding to 25/02/2025G) regarding CCC’s firm intention to make an offer to acquire all shares of UACC. UACC announces that on 03/02/1447H (corresponding to 28/07/2025G), it received a notice from CCC stating that the Board of the Capital Market Authority has resolved not to approve the publication of the offer document that was required to be submitted by CCC to the shareholders of UACC, due to non-compliance with the Capital Market Law and its implementing regulations in relation to certain governance requirements, which necessitate the resubmission of certain regulatory items. UACC also received a follow-up notice stating that CCC will consider resubmitting the offer after fulfilling the necessary regulatory requirements. UACC notes that it will announce any material developments relating to the Transaction in due course. |
| Previous Announcement | The announcement regarding CCC’s firm intention to make an offer to acquire all shares of UACC. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-02-25 Corresponding to 1446-08-26 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Receipt of a notice from CCC stating that the Capital Market Authority’s Board has resolved not to approve the publication of the offer document. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |