| Introduction |
With reference to Molan Steel Co.'s announcement dated 01/10/2026 regarding its signing of a Payment, Reduction and Final Release Agreement with Yara International Limited, under which the Company obtains a reduction of SAR 1,050,000 from the remaining settlement balance, the Company announces that on 01/10/2026 it paid the full amount payable under the agreement. Accordingly, the Company's financial obligation to Yara International Limited in respect of the purchase price of the branch commercial registration registered under Mayar International for Industry and the settlement amount has ended. |
| Previous Announcement |
The Payment and Reduction Agreement with Yara International Limited. |
| Date of Previous Announcement on Saudi Exchange’s Website |
2026-10-01 Corresponding to 1448-04-20 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
On 01/10/2026, the Company paid Yara International Limited SAR 6,830,086, being the full amount payable under the Payment and Reduction Agreement after deducting the reduction of SAR 1,050,000, within the period specified in the agreement. In accordance with the terms of the agreement, this payment results in: Yara International Limited receiving the full contract price and settlement amount; a final release between the parties in respect thereof, discharging the Company from them; the final termination of the dispute relating to the contract; and the promissory notes delivered as security for the scheduled instalments being deemed void and of no effect. All other rights and obligations of the parties not related to the contract price and the settlement amount remain in force under the settlement agreement. The effect of the reduction will be treated in the Company's financial statements as approved by the external auditor. |
| Reasons For The Delay on The Date of The Event Previously Announced |
Non |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
The Company paid SAR 6,830,086 instead of the remaining balance of SAR 7,880,086, a reduction of SAR 1,050,000, pursuant to the Payment and Reduction Agreement. |
| Delay consequences on the Company’s financial results |
Non |
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