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An addendum announcement from the Southern Province Cement Company regarding the company’s receipt of a notification from Saudi Aramco amending the prices of fuel products used in operating the company’s factories and the financial impact on the cost of production.
3050
SPCC
0.00
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1446/01/12 18/07/2024 15:50:51
| Element List | Explanation |
|---|---|
| Introduction | In addition to the company’s announcement published on the Tadawul website on 08/15/1445 AH corresponding to 02/25/2024 regarding the company’s receipt of a notification from Saudi Aramco amending the prices of fuel products used in operating the company’s factories and the financial impact on the cost of production |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2024-02-25 Corresponding to 1445-08-15 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The company announces its joining the Industrial Sector Competitiveness Program, based on which the company signed an agreement with the program that includes providing several solutions that help raise the efficiency and type of energy sources used in industrial facilities, as the program will contribute to reducing production costs. The program was implemented in the Bisha Cement Factory only as a first stage. The financial impact on the company's production cost was a decrease of 1%. The company would like to confirm that it will work during the coming period to explore additional ways to raise production efficiency and reduce costs. |
| Financial Impact on the change | Modifying the financial impact rate on the company from 12.5% to approximately 11.5% in production costs, starting from 01/01/2024. |
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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