Saudi Basic Industries Corp. — Capital/Financing Update 2014

Oct 23, 2014

Addendum announcement from Saudi Basic Industries Corp related to agreement with SHELL to study the establishment of future styrene monomer, propylene oxide and polyols projects

2010 · 23/10/2014 08:23:12 · Announcement #35867 · View on Saudi Exchange

Addendum announcement from Saudi Basic Industries Corp related to agreement with SHELL to study the establishment of future styrene monomer, propylene oxide and polyols projects

Further to the announcement published on Tadawul's website on 12-11-2012 regarding the agreement with SHELL to expand their partnership at their joint venture project, the Saudi Petrochemical Company (SADAF), an affiliate company where SABIC and Shell had agreed to jointly conduct the necessary studies to implement the project, prior to making any final investment decision, SABIC announces that they are not going to pursue this investment further because the studies result were not encouraging but asserts that their relations will continue to develop through the exploration of any other expansion opportunities. This will not have a financial impact.

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.