Methanol Chemical compounds Firm emblem – Chemanol
Firm mentioned Methanol Chemistry – ChemanolThe outcomes of the investigation into the 2 acquisition offers of my firm Aldar chemical compounds andWorldwide Chemical IndustriesIt confirmed that there are violations associated to a battle of curiosity between some members of the earlier council and the committees emanating from it and a number of the former homeowners of the 2 acquired firms.
The corporate mentioned that the workplace accountable for felony investigation duties examined all acquisition paperwork to find out the repercussions of the 2 offers, and the report was accomplished on December 7, 2025, because it included a lot of findings and details which might be the idea for some elementary violations.
In line with an organization assertion on Tadawul, the report confirmed a number of elementary observations concerning the failure of some members of the earlier board to train the mandatory care for his or her duties and duties stipulated by legislation as members of the board of administrators through the completion of the 2 acquisition offers, along with ignoring most of the outputs of the due diligence experiences, which embrace many dangers concerning the efficiency of the 2 firms and doubts about their skill to proceed on account of their dangerous monetary state of affairs and the money owed. The report additionally included an analysis of the 2 acquired firms via one of many specialised firms, the results of which was That is radically completely different from what was evaluated through the completion of the 2 acquisition offers through the earlier Board of Administrators session, which was completed via a non-accredited evaluator with the Saudi Authority for Accredited Valuers.
Based mostly on the outcomes of the just lately accomplished report, will probably be shared with the related involved authorities to take the mandatory measures, along with assigning a specialised authorized workplace to start taking the mandatory authorized measures primarily based on the violations talked about within the report, with the purpose of defending the rights and pursuits of the corporate’s shareholders.
The corporate acknowledged that any updates or developments on this regard shall be introduced later.
In line with knowledge numbersIn June 2023, Chemanol had signed two binding provides for the aim of buying 84% of the shares of Aldar Chemical compounds Firm, and 80% of the shares of the Worldwide Chemical Industries Firm Restricted.
In February 2024, the corporate introduced the completion of all regulatory procedures associated to the switch of possession, the completion of regulatory paperwork, and the approval of the related authorities, with regard to the acquisition of Aldar Chemical compounds Firm for an quantity of 46.2 million riyals, to be paid partially and over time.
The corporate additionally introduced in Could 2024 the completion of all regulatory procedures associated to the switch of possession, the completion of regulatory paperwork, and the approval of the related authorities for the acquisition of 80% of the shares of the Worldwide Chemical Industries Firm Restricted, at a price amounting to 80 million riyals, which shall be partially paid.
She mentioned in April 2025 that an emergency session was held for the present Board of Administrators and it was determined to contract with an exterior consulting workplace specialised in (Forensic Audit) to conduct an investigation into the 2 acquisition offers for the 2 firms, Aldar Chemical compounds, and the Worldwide Chemical Industries Firm, which passed off through the earlier Board of Administrators session (11/2021 – 11/2024), and their feasibility, after which take authorized measures after finishing the outcomes of the investigation.
Methanol Chemical compounds Firm – Chemanol introduced right now that the previous homeowners of Aldar Chemical compounds Firm filed industrial lawsuits earlier than the Business Courtroom in Dammam on December 6, 2025, towards the corporate concerning the acquisition deal to accumulate Aldar Chemical compounds Firm.
