Arabian Pipes awarded SR 305 mln orders for supply of steel pipes to Saudi Aramco

Based on Paragraph (D) of Article 60 of the Rules on the Offer of Securities and Continuing Obligations issued by the Capital Market Authority (CMA), and out of the Company’s concern to protect and safeguard the rights of its shareholders against any decisions that may be taken based on misleading information, the Board of Methanol Chemicals Company would like to announce that a shareholder mentioned during the General Assembly Meeting held on Tuesday, November 09, 2021 that the Company will achieve a net profit of SAR 250 Million by the end of year 2021.

The Company clearly indicates “such information was only a personal prediction by the shareholder and such information was not based on any clear grounds or calculated forecasts.”

The Company reaffirms what has been clearly indicated by the Management in this regard, and it calls upon all shareholders to obtain factual and accurate information from the Company’s official sources or from the relevant authorities (e.g. Saudi Exchange), and not to drifted by rumors which may drive them to take inaccurate decisions.