Doha, January 01 (QNA) - QatarEnergy, the primary founder and main shareholder of Mesaieed Petrochemical Holding Company ("MPHC" or "the Company"; QE: MPHC), announces the successful completion of the distribution of the second and last tranche of free incentive shares to eligible shareholders of Mesaieed Petrochemical Holding Company (MPHC) at closing of trade on Sunday Dec. 31, 2023 in Qatar Stock Exchange.

The free incentive shares distributed are equivalent to 50 percent of the shares allocated to such shareholders at the time of the initial MPHC public offering (IPO) in accordance with the mechanisms set forth in the IPO prospectus of the Company.

This distribution is in line with QatarEnergy's announcement, when the shares of MPHC were issued for subscription in Dec. 2013, that it will distribute two equal sets of free incentive shares to eligible shareholders in the first award date on Dec. 31, 2018 and the second award date on Dec. 31, 2023.

The free incentive shares are ordinary shares that have equal rights with capital shares. Similar to the first award, the distribution of incentive shares on the second award date will not add to, or change, the share capital of MPHC as the two distributions were allocated from QatarEnergy shareholding in MPHC.

As a result of the two distributions, QatarEnergy shareholding in MPHC has been decreased to 57.9 percent from its initial shareholding of 74.2 percent at MPHC IPO. (QNA)