Yanbu Cement Co. — Share Issue/Capital Change 2021

Jan 31, 2021

Yanbu Cement Co. Announces Board's Recommendation to Decrease the Company's Capital

3060 · 31/01/2021 08:45:51 · Announcement #61794 · View on Saudi Exchange

Yanbu Cement Co. Announces Board's Recommendation to Decrease the Company's Capital

Element List	Explanation
Date of Board Meeting	2021-01-30 Corresponding to 1442-06-17
Capital before decrease	1,575,000,000 riyals
Capital after decrease	1,000,000,000 riyals
Percentage of Capital decrease	36.5 %
Number of Shares before Decrease	157500000
Number of Shares after Decrease	100000000
Reasons for the Capital Decrease	Capital exceeds company's need.
Method of Capital Decrease	Canceling 57,500,000 shares (36.5%), and compensating the shareholders.
Impact of the Capital Decrease on the Company's Obligations, Operations or Operational, Financial or Organizational Performance of the Company	No material impact of capital reduction on company's obligations, operational, financial or organizational performance. Rather it is expected that it will have a positive impact on the capital structuring, profitability ratios, and performance indicators.
Date of reduction	The End of the Second Trading Day after the creditors' objection period.
Approvals	Reducing the capital and the number of Shares are subject to the approval of government agencies and the extra-ordinary general assembly.
Appointment of a Financial Advisor and the Submission of the Application for Capital Decrease to CMA	Appointment of the financial advisor will be announced at later stage, as well as the submission of the capital reduction request file to the Capital Market Authority for their approval.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.