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Methanol Chemicals Co. Share Issue/Capital Change 2021
53285_rns_2021-07-08_224dd116-2b51-4f25-ad17-d7054fc1f097.html
Share Issue/Capital Change
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Methanol Chemicals Company announces decreasing its accumulated losses to 0% of the share capital
2001 · 08/07/2021 08:28:00 · Announcement #64076 · View on Saudi Exchange
Methanol Chemicals Company announces decreasing its accumulated losses to 0% of the share capital
| Element List | Explanation |
|---|---|
| Introduction | Referring to the recommendation of the Board of Directors dated 22/03/1442 corresponding to 08/11/2020, regarding the reduction of the Company’s share capital by 44.07%, and, as the Company’s shareholders approved during the Extraordinary General Assembly Meeting held on 18/11/1442 corresponding to 28/06/2021, the Company wishes to announce the decrease in share capital of SR 531,491,370 through absorbing all accumulated losses. |
| Date of accumulated losses decrease | 2021-06-28 Corresponding to 1442-11-18 |
| Amount of the Accumulated Losses | The Company’s accumulated losses are now 0% |
| Measures Taken by the Company to Decrease Accumulated Losses | Reducing the share capital of the Company from SAR 1,206,000,000 to SAR 674,508,630 based on the approval of the Extraordinary General Assembly held on 18/11/1442 Corresponding to 28/06/2021. |
| Auditor's Report showing the Financial Position of the Company after the Decrease of the Accumulated Losses |  |
| Additional Information | As a result of profits achieved by Q1,2021 the company now has retained earnings which represent 2.51% of new share capital . |
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.