| Element List | Explanation |
|---|---|
| Introduction | With reference to its announcement on the Tadawul website on 16/07/1447 H, corresponding to 05/01/2026 regarding the submission of the capital reduction application file to the Capital Market Authority (CMA), Methanol Chemicals Company (Chemanol) is pleased to announce to its valued shareholders that the CMA’s approval was issued on 20/11/1447 H, corresponding to 07/05/2026 for the request to reduce the Company's capital from SAR 674,508,630 to SAR 150,000,000. Consequently, the number of shares will be reduced from 67,450,863 shares to 15,000,000 shares. |
| Previous Announcement | Methanol Chemicals Company Announces the Submission of the Capital Reduction Application File to the Capital Market Authority |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-01-05 Corresponding to 1447-07-16 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Capital Market Authority (CMA) has approved the Company’s capital reduction application. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | The capital reduction is subject to the approval of the Extraordinary General Assembly (EGM). The Company will issue an invitation for the EGM in due course. The Company will also publish a Shareholders’ Circular, which will detail the proposed method for capital reduction and its expected impact, sufficiently in advance of the EGM to allow shareholders to vote on the capital reduction resolution. The Company will announce any further material developments in due course, in accordance with the relevant regulations. |
