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KEMA Now Holds Capital Reduction Meeting
Methanol Chemicals Company (Khemaroul) has invited its shareholders to attend an extraordinary general assembly meeting on July 14, 2026, to discuss a plan to reduce the company's capital by 77.76%, from approximately 674.5 million riyals to 150 million riyals. The aim is to write off 90.76% of accumulated losses, which amounted to about 578 million riyals by the end of the third quarter of 2025. Under this plan, 52.45 million shares will be canceled, with proceeds from fractional shares to be distributed to shareholders, subject to shareholder approval of the decision. The agenda also includes debates on internal regulations and strengthening management accountability, in addition to financial allocations to compensate for losses, along with amendments to the company's bylaws and new appointments to the board of directors.
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