Methanol Chemicals Company announces that on Monday 14th Safar, 1438 H corresponding to November 14th, 2016 it has received an amount of US$ 10 million as a result of exercising its legal right to liquidate a performance bank guarantee due to the noncompliance of one of its Marketers with its offtake and other contractual obligations. In this regard, the Marketer communicated its intention to seek arbitration proceedings. The financial impact of this amount (US$ 10 million) has been recorded in the company books in the Balance Sheet and Cash Flow statement with no impact on the net income until the dispute with the Marketer is fully and finally resolved at which time any related adjustments will be recorded accordingly. Any updates will be announced in due course