Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) has issued an invitation to its shareholders to attend the Ordinary General Meeting (OGM), scheduled for 6 August 2026.
The meeting, to be conducted via modern technology, requires a legal quorum of at least 25% of the company’s capital, according to a bourse filing.
Shareholders will vote on the board and auditor reports for the fiscal year ended on 31 December 2025. The company reported annual revenues of SAR 621.93 million and a net loss of SAR 542.20 million for the period.
The agenda also includes appointing an external auditor for the remainder of 2026 and the first quarter (Q1) of 2027. The Audit Committee has recommended two candidates: Al-Bassam & Co. with a bid of SAR 700,000 and Forvis Mazars at SAR 670,000.
The board is currently addressing the company’s financial position, which includes a planned SAR 350 million rights issue to bolster liquidity.
Eligibility for attendance is registered for shareholders at the end of the trading session preceding the assembly.
The company, which maintains a 71% Saudization rate, confirmed that electronic voting through the Tadawulaty platform will commence on 2 August 2026.
