Qassim Cement shareholders OK holding treasury shares from Hail Cement acquisition

Qassim Cement factory

Shareholders of Qassim Cement Co. (QCC) approved the retention of 798,350 treasury shares resulting from the acquisition of Hail Cement Co. (HCC) for a period of 10 years, during the extraordinary general meeting (EGM) held on April 23.

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According to a statement to Tadawul, shareholders authorized the board of directors to utilize the treasury shares, in whole or in part, for share-swap transactions related to acquisitions of companies or assets, and/or to allocate them under the employee stock program.

Shareholders approved establishing an employee stock incentive program, the statement added, noting that the board of directors was authorized to determine the terms of the program, including the allocation price for shares offered to employees, if applicable.

Moreover, shareholders authorized the board of directors to distribute interim dividends on a quarterly basis for 2025.

According to data available on Argaam, the treasury shares to be retained represent 0.72% of the company’s total outstanding shares.