Basic Chemical Industries Co. Announces Non-distribution of Cash Dividends to Shareholders for Fiscal Year ended 31 December 2020

ELEMENT LIST EXPLANATION

Introduction Basic Chemical Industries

Company announces the decision of


the Company's Board of Directors in its meeting held on


Monday, March 22, 2021 AD,


corresponding to Shaban 9, 1442


AH, to recommend to the General


Assembly not to distribute cash dividends


for the fiscal year ended 31 December 2020 AD. The


reason for the recommendation is


the continuing completion of the


company’s construction and


financing of its Chlorine project in Jubail industrial area.


Date of the board’s decision 2021-03-22 Corresponding to 1442-08-09

Reasons for Not Recommending Distribution The reason for the recommendation

is the continuing completion of the


company’s construction and


financing of its project in Jubail.


Approvals Recommendation is to be presented

at the next meeting of the general


assembly of shareholders to take


approval of the decision, the date of


which will be announced later after the approval of Capital Market Authority.


The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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