{"id":7308,"date":"2024-12-31T09:00:37","date_gmt":"2024-12-31T06:00:37","guid":{"rendered":"https:\/\/uacc.com.sa\/?p=7308"},"modified":"2026-08-12T13:38:45","modified_gmt":"2026-08-12T10:38:45","slug":"umm-al-qura-cement-company-announces-recent-developments-relating-to-the-securities-exchange-transaction-with-city-cement-company","status":"publish","type":"post","link":"https:\/\/uacc.com.sa\/en\/2024\/12\/31\/umm-al-qura-cement-company-announces-recent-developments-relating-to-the-securities-exchange-transaction-with-city-cement-company\/","title":{"rendered":"Umm Al-Qura Cement Company Announces Recent Developments Relating to the Securities Exchange Transaction with City Cement Company"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n
Element List<\/th>\nExplanation<\/th>\n<\/tr>\n<\/thead>\n
Introduction<\/td>\nWith reference to the announcement published by Umm Al-Qura Cement Company (the \u201cCompany\u201d or \u201cUACC\u201d) on the Saudi Exchange website dated 24\/04\/1446H (corresponding to 27\/10\/2024G) regarding the entry into an acquisition implementation agreement (the \u201cImplementation Agreement\u201d) with City Cement Company (\u201cCCC\u201d), pursuant to which CCC has agreed to make an offer to UACC\u2019s shareholders to acquire all shares of UACC in consideration for newly issued shares in CCC pursuant to Article (26) of the Merger and Acquisition Regulations and in accordance with the Rules on the Offer of Securities and Continuing Obligations issued by the board of the Capital Market Authority, and in accordance with the conditions and provisions of the Implementation Agreement (the \u201cTransaction\u201d). <\/p>\n

 <\/p>\n

Whereas the Implementation Agreement announcement stipulated that the Transaction is subject to a number of conditions, including obtaining the General Authority for Competition\u2019s non-objection, UACC is pleased to announce the issuance of the non-objection of the General Authority for Competition on 29\/06\/1446H (corresponding to 30\/12\/2024G) on the completion of the economic concentration resulting from the Transaction.<\/p>\n

 <\/p>\n

The Company notes that the Transaction remains subject to a number of other conditions, including obtaining the approvals of the Capital Market Authority and the Saudi Exchange, obtaining the requisite approval of the shareholders in the extraordinary general assemblies of UACC and CCC, and other conditions outlined in the Implementation Agreement announcement.<\/p>\n

 <\/p>\n

UACC will make further announcements as and when material developments occur in relation to the Transaction.<\/td>\n<\/tr>\n

Previous Announcement<\/td>\nUmm Al-Qura Cement Co. announcement of its entry into an implementation agreement with City Cement Co. in relation to a securities exchange transaction between the two companies.<\/td>\n<\/tr>\n
Date of Previous Announcement on Saudi Exchange\u2019s Website<\/td>\n2024-10-27 Corresponding to 1446-04-24<\/td>\n<\/tr>\n
Hyperlink to the Previous Announcement on the Saudi Exchange Website<\/td>\nClick Here<\/a><\/td>\n<\/tr>\n
Latest Developments Of The Announced Event<\/td>\nThe issuance of the non-objection of the General Authority for Competition on 29\/06\/1446H (corresponding to 30\/12\/2024G) on the completion of the economic concentration resulting from the Transaction.<\/td>\n<\/tr>\n
The costs associated with the event, and if they have changed or not with indication of the reasons.<\/td>\nNot applicable<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Element List Explanation Introduction With reference to the announcement published by Umm Al-Qura Cement Company (the \u201cCompany\u201d or \u201cUACC\u201d) on the Saudi Exchange website dated 24\/04\/1446H (corresponding to 27\/10\/2024G) regarding the entry into an acquisition implementation agreement (the \u201cImplementation Agreement\u201d) with City Cement Company (\u201cCCC\u201d), pursuant to which CCC has agreed to make an offer […]<\/p>\n","protected":false},"author":3,"featured_media":5118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-7308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/posts\/7308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/comments?post=7308"}],"version-history":[{"count":1,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/posts\/7308\/revisions"}],"predecessor-version":[{"id":7309,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/posts\/7308\/revisions\/7309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/media\/5118"}],"wp:attachment":[{"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/media?parent=7308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/categories?post=7308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uacc.com.sa\/en\/wp-json\/wp\/v2\/tags?post=7308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}