Chemanol Proposes 77.76% Capital Reduction to SAR 150M

CHEMANOL

CHEMANOL

2001.SA

0.00

Methanol Chemicals Company (Chemanol) announced on June 21, 2026 that it will convene an Extraordinary General Assembly meeting on July 14, 2026 at 6:30 p.m. via modern technology means. The primary agenda item involves a significant capital reduction from SAR 674,508,630 to SAR 150,000,000 (a 77.76% reduction), reducing the number of shares from 67,450,863 to 15,000,000 shares to extinguish 90.76% of accumulated losses. Additional agenda items include transferring SAR 53,402,162 from statutory reserves to cover remaining losses, increasing external auditor fees by SAR 421,126, and filing liability lawsuits against former board members from 2021-2024 related to acquisition transactions identified in a forensic investigation report.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=96249&anCat=1&cs=2001&locale=ar

Attached PDF document link:

https://www.saudiexchange.sa/Resources/fsPdf/9794_379_2026-06-21_01-56-35_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/9794_379_2026-06-21_02-05-13_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/9794_379_2026-06-21_02-05-23_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/9794_379_2026-06-21_02-05-34_en.pdfhttps://www.saudiexchange.sa/Resources/fsPdf/9794_379_2026-06-21_02-05-41_en.pdf

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