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Almasane Alkobra Mining Company (AMAK) announces the latest developments regarding its receipt of a notice of an adjustment in the prices of fuel products used in production.
| Element List | Explanation |
|---|---|
| Previous Announcement | The company’s announcement, published on the Tadawul website on 03-07-1445 AH (15-01-2024 AD), relates to receiving a notification from Saudi Aramco regarding amendments to the pricing of fuel products used in production. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-01-15 Corresponding to 1445-07-03 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company is pleased to announce its joining the Industrial Sector Competitiveness Program by signing an agreement with the program that includes providing several solutions that help to improve the efficiency and type of energy sources used in industrial facilities, as the program will contribute to reducing the Company’s production costs. As a result of this agreement, the direct financial impact on the cost of sales will decrease from a previous increase of between 2.5% and 3% to an increase of 1% only. |
| 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. | The direct financial impact is estimated to be an increase of approximately 3% in the company's cost of sales. The financial impact on the Company, represented by the increase in cost of sales, has decreased from a previous increase of between 2.5% and 3% before signing the agreement to approximately 1%, effective from 01-01-2024. The financial impact will be reflected in Q1 2025 financial results. |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | N/A |
The Capital Market Authority and Saudi 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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Last Price 61.4
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