No contractual relations with MSCI, says MPHC

August 17, 2014 - 12:00:00 am

DOHA: Mesaieed  Petrochemical Holding Company (“MPHC” or “the group”; QE: MPHC), a subsidiary of Qatar Petroleum, and one of the region’s premier diversified petrochemical conglomerates with interests in the production, distribution and sale of olefins, polyolefins, alpha olefins and chlor-alkali products, issued a clarification statement advising shareholders of the statement issued by MSCI Inc.

MSCI Inc through their press release issued on August 13, 2014, included MPHC in their MSCI Emerging Market Index and MSCI ACWI Growth Index. MSCI Inc. through their press release issued on August 14, 2014 mentioned that MPHC will not be added to their Index contrary to what was stated earlier by MSCI Inc.

In this regard, MPHC would like to confirm that it has no contractual relationship with MSCI Inc nor does MSCI Inc. coordinate with MPHC on any of its matters. MPHC is therefore not responsible for any of MSCI Inc. decisions. MPHC’s strength is driven by its own performance and not by MSCI Inc decisions.

The Peninsula