Further to the announcement of Methanol Chemicals Co. (Chemanol) published on Tadawul website on 18 Rabi Al-Awwal 1437 A. H. corresponding to 29 December 2015 related to the financial impact of the Council Of Ministers Resolution regarding the increase in gas price, the Company would like to announce that it has received a letter/ notice from Saudi Arabian Oil Company (Aramco) stating that Chemanol will be subject to the old price of Methane Gas at 0.75 $ MMBTU for a Grace Period of seven years and ninety days starting from the actual supply date. As the supply of Methane Gas to Company plants started in different periods, the mentioned Grace Period will end on 4 June 2016 and the new price of 1.25 $ MMBTU shall take into effect from 5 June 2016. Accordingly, the financial impact of the increase in gas price will drop to about SAR 25 million instead of the previously announced SAR 30 million, which will represent an additional cost of production of about 3% instead of the 5% stated in the previous announcement. The financial impact of such increase will be reflected in 2016 financial results. .