Qassim Cement Company Announces Recent Developments Relating to the Share Exchange Transaction to Acquire all of Hail Cement Company’s Shares.

Qassim Cement Company Announces Recent Developments Relating to the Share Exchange Transaction to Acquire all of Hail Cement Company’s Shares.

With reference to the announcement made by Qassim Cement Company (the “Company” or “QCC”) on the Saudi Exchange website on 11/06/1445H (corresponding to 24/12/2023G) regarding the entry into a binding implementation agreement (the “Implementation Agreement”) with Hail Cement Company (“HCC”), pursuant to which QCC has agreed to make an offer to HCC’s shareholders to acquire all shares of HCC in consideration for newly issued shares in QCC 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 (the “CMA”), and in accordance with the conditions and provisions of the Implementation Agreement (the “Transaction”). With reference to the announcement made by QCC on the Saudi Exchange website on 05/07/1445H (corresponding to 17/01/2024G) regarding its firm intention to make an offer in connection with the Transaction, and its addendum announcement regarding the same on 06/07/1445H (corresponding to 18/01/2024G) (both announcements referred to as the “FIA”), and with reference to QCC’s announcement on the Saudi Exchange website on 05/08/1445H (corresponding to 15/02/2024G) in relation to obtaining the non-objection of the General Authority for Competition