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08-Feb-2016

Chemanol receives SAR10 million insurance instalment related to paraformaldehyde fire

Chemanol announced that it has received SAR10 million in an instalment related to the insurance claim for the fire that broke out at the company’s paraformaldehyde plant back in April 2015. The company stated that the SAR10 million instalment will only show on the company's cash flow statement as of 1Q2016, while the full impact of the insurance settlement will be reflected on the company's income statement after the full assessment of the claim is concluded. (Tadawul)   Chemanol: SAR5.42 as of 7 February 2016, Rating: Sell, FV: SAR8.00 per share, MCap: USD174 million, CHEMANOL AB / 2001.SE

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