Methanol Chemicals Company (Chemanol) announced on July 15, 2026 the results of its Extraordinary General Assembly Meeting (Second Meeting), held on July 14, 2026 at 7:30 PM at the Company's head office in Jubail Industrial City, with a shareholder attendance rate of 27.14%. Shareholders approved a capital reduction of 77.76%, decreasing the share capital from SAR 674,508,630 to SAR 150,000,000 and reducing the number of shares from 67,450,863 to 15,000,000, primarily to extinguish 90.76% of the Company's accumulated losses. The assembly also approved the transfer of SAR 53,402,162 from the Statutory Reserve to cover the remaining accumulated losses, an increase of SAR 421,126 in external auditor fees, and the filing of a liability lawsuit against former Board members (2021–2024) implicated in a Forensic Investigation Report concerning two acquisition transactions. Additionally, several amendments to the Company's Bylaws were approved, along with the ratification of Mr. Bassem Mohammed Bahloul's appointment as an Independent Board Member effective October 2, 2025, through November 11, 2028.

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