Chemanol's Board Proposes Capital Decrease Amid Accumulated Losses

12:10 AM EST, 12/26/2025 (MT Newswires) -- Methanol Chemicals Co (SASE:2001), d/b/a Chemanol, said Thursday its board proposed to extinguish 577.9 million Saudi riyals of accumulated losses through shares cancellation and utilizing the balance from the statutory reserve. The amended proposal was issued after the methanol and derivatives producer's accumulated losses reached 85.7% of capital based on its third-quarter financial results. In addition to the cancellation of 52,450,863 shares, 53.4 million riyals will be utilized from the statutory reserve to address the accumulated losses. Chemanol added that the capital reduction process is subject to approval from Saudi Arabia's Capital Market Authority.