An addendum announcement from United Mining Industries Company regarding its receipt of a letter amending the prices of gas used in production operations.

An addendum announcement from United Mining Industries Company regarding its receipt of a letter amending the prices of gas used in production operations.



11 February 2024 04:22 PM

Element List

Explanation

Introduction

Further to United Mining announcement published on Tadawul website on 06/26/1445 H corresponding to 01/08/2024 regarding the company’s receipt a letter from Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)amending gas prices based on the notice sent to it from Saudi Arabian Oil Co (Aramco) increasing the prices of Gas, The company would like to clarify the expected financial impact.

Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website

2024-01-08 Corresponding to 1445-06-26

Hyperlink to the Previous Announcement

Click Here

Change on the Development

United Mining wishes to clarify that the approximate financial impact of the increase in Cost of good sold is estimated at 4.5%. This impact is expected to appear starting from first quarter of the fiscal year 2024. The company will work during the coming period on exploring ways to reduce the impact of this amendment on the financial results.

Financial Impact on the change

The approximate financial impact of the increase in Cost of good sold is estimated at 4.5%. This impact is expected to appear starting