National Industrialization Co. — Capital/Financing Update 2021

Apr 14, 2021

TASNEE: announces the temporary shutdown of the plants of its affiliate Saudi Ethylene and Polyethylene Company ” SEPC” for the periodic maintenance with estimated financial impact amounting to SR 90 million.

2060 · 14/04/2021 09:16:39 · Announcement #62817 · View on Saudi Exchange

TASNEE: announces the temporary shutdown of the plants of its affiliate Saudi Ethylene and Polyethylene Company ” SEPC” for the periodic maintenance with estimated financial impact amounting to SR 90 million.

Element List	Explanation
Announcement Detail	The National Industrialization Company “TASNEE” announces its plan to temporarily shut down the Ethylene and Polyethylene plants for 27 days starting from 23 May 2021 for the scheduled periodic maintenance to enhance the reliability and operability of the plants.

As a result of shutdown, the Company has estimated the financial impact of SR 90 million based on the average prices, which will appear in the interim consolidated financial statements for second and third quarter of 2021. The Company will meet the customers’ requirements by utilizing the available inventory and will announce any substantial updates (if any) in due course.

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.