| Element List |
Explanation |
| Introduction |
Referring to the company's announcement on Tadawul dated 02/02/1444H Corresponding to 29-08-2022, regarding the fire incident of one of its subsidiaries’ factories (Saudi Specialized Products Company). The company announces it has on Thursday, 27 June 2024, reached a full and final settlement with CHUBB Arabia Cooperative Insurance Co. regarding the entire damage and losses to the factory caused by the fire incident on August 29, 2022. The final settlement amount was SAR 53 million and should have a positive impact during Q2 of 2024. |
| Previous Announcement |
Sahara International Petrochemical Company “Sipchem” announces a fire in one of its factories in Hail City |
| Date of Previous Announcement on Saudi Exchange’s Website |
2022-08-29 Corresponding to 1444-02-02 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
N/A |
| Reasons For The Delay on The Date of The Event Previously Announced |
N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
N/A |
| Delay consequences on the Company’s financial results |
The company does not expect that this incident will result in negative financial impact on the results. |
| Additional Information |
The company would also like to extend its appreciation to all the parties involved, such as the civil defense and Modon, as well as all those concerned in the insurance company and the company employees. |
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