Chemanol Ordered to Pay SAR 15.4 Million Judgment

CHEMANOL -1.07%

CHEMANOL

2001.SA

8.29

-1.07%

On March 11, 2026, Methanol Chemicals Company (Chemanol) announced that the Commercial Court in Dammam has issued a preliminary judgment ordering the company to pay 15,393,420 Saudi Riyals to the former owners of Addar Chemicals Company (ACC). The payment represents amounts claimed by the former ACC owners for bank facility payments and operating expenses up to November 2023, related to Chemanol's acquisition of ACC. Chemanol intends to file an appeal against the judgment through a specialized law firm and will take all necessary legal actions to contest the ruling.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93616&anCat=1&cs=2001&locale=ar

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