Arabian Cement Co. — Capital/Financing Update 2011

Aug 9, 2011

Arabia Cement Company announces its signature of a General Framework agreement with Italcementi regarding International City Company for Concrete (ICC)

3010 · 09/08/2011 16:05:36 · Announcement #22556 · View on Saudi Exchange

Arabia Cement Company announces its signature of a General Framework agreement with Italcementi regarding International City Company for Concrete (ICC)

Arabia Cement Company (ACC) announces to its shareholders its signature of a general framework agreement with Italcementi on 07/09/1432 AH 07/08/2011 M. At complete implementation of the agreement, ACC will be able to exit its investment in International City Company for Concrete (ICC) due to accumulated losses and to avoid any further liabilities. International City Company for Concrete (ICC) is a Saudi limited liability company owned equally by Arabian Cement Company and Italcementi with paid up capital of SAR 100M. ACC has already taken a provision of the amount SAR 25M against this investment

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