MOSCOW (MRC) -- Chairman Khalid al-Zamil, vice chairman Fahad al-Rajhi reappointed by board for another term, said Maal.
Sahara International Petrochemical Company (Sipchem) is pleased to announce to its Shareholders that its Board of Directors, which was elected during the 24th Ordinary General Assembly Meeting held on Wednesday 30 November 2022 for a three-year term that starts on 10th December 2022 and will end on 09th December 2025, issued the following resolutions on 12th December 2022.
A secretary of the Board of Directors has also been appointed Mr. Fahad M. Al-Ohaly. Also, Sipchem Board has appointed representatives of the company for the Capital Market Authority (CMA) and the Saudi Tadawul Group (Tadawul) the Securities Depository Center Company (Edaa).
We remind, Sahara International Petrochemical Co's (Sipchem) net profit fell by 24.8% year on year in the third quarter amid a drop in selling prices, the Saudi Arabia producer said in a stock exchange filing. Decrease in most of the selling prices of company’s products in the third quarter specially methanol, butanediol, ethyl acetate and polypropylene (PP), the company said in a filing on the Saudi bourse, Tadawul, on 18 October. - Earnings also weighed by the increase in feedstock prices of butane, ethylene, ethanol and propane.