2001 · 01/01/2023 08:03:42 · Announcement #71524 · View on Saudi Exchange

Methanol Chemicals Company announces the Latest Developments on obtaining the approval of the Ministry of Energy for allocating the required feedstock to expand the Methanol Plant

Element ListExplanation
Introduction With reference to Methanol Chemicals Company’s announcement on Tadawul website on 24/01/2022 with regard to signing an agreement for preliminary engineering design to expand the Methanol plant with the company owning the technology of the existing Methanol plant.

The Company would like to announce that the engineering designs are in the final stages and completion is anticipated before the end of the first quarter of 2023.

Any material development in this regard will be announced in due course in accordance with the relevant laws and regulations. Previous Announcement Methanol Chemicals Company announces the Latest Developments on obtaining the approval of the Ministry of Energy for allocating the required feedstock to expand the Methanol plant Date of Previous Announcement on Tadawul's Website 2022-01-24 Corresponding to 1443-06-21 Percentage of fulfilled achievement 95% Event's Expected Completion Date End of Q1 of 2023 Reasons for Exceeding the Announced End Date Due to late submission of the required information for the completion of the engineering designs by some manufacturers. The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Impact of the Delay on the Company's Financial Results N/A

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.