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Scientific and Medical Equipment House Co. Announces an update on Scientific and Medical Equipment House Co. announces the latest developments regarding the company's announcement of the issuance of an initial judicial ruling in favor of Ruaa Al-Himaya Company (a subsidiary) in the lawsuit filed by Ruaa Al-Himaya against National Unified Procurement Company (NUPCO).
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Scientific and Medical Equipment House Co on 14-08-2023, regarding the initial court ruling in favor of Roaa Al-Himaya (a subsidiary company) against the National Unified Procurement Company (NUPCO), and referring to the company's announcement on 12-10-2023 about the latest developments in the case, which confirmed the ruling by the Fourth Appellate Circuit of the Riyadh Commercial Court on 11-10-2023, affirming the initial ruling that obliged NUPCO to pay all amounts mentioned in the previous announcement to Roaa Al-Himaya (a subsidiary company). The company would like to inform shareholders that it has received and obtained a certified and executed copy of the appellate court ruling number (4530302736) dated 01-04-1445H from the Fourth Appellate Circuit of the Riyadh Commercial Court. The final ruling obliges NUPCO to pay the following to Roaa Al-Himaya (a subsidiary company): 1- An amount of SAR 60,568,458.65 (Sixty Million, Five Hundred and Sixty-Eight Thousand, Four Hundred and Fifty-Eight Saudi Riyals and Sixty-Five Halalas). 2- An amount of SAR 135,000 (One Hundred and Thirty-Five Thousand Saudi Riyals) as expert fees in this case. 3- An amount of SAR 500,000 (Five Hundred Thousand Saudi Riyals) as legal fees. The ruling has been submitted to the execution court for implementation. |
| Previous Announcement | Scientific and Medical Equipment House Co. announces the latest developments regarding the company's announcement of the issuance of an initial judicial ruling in favor of Ruaa Al-Himaya Company (a subsidiary) in the lawsuit filed by Ruaa Al-Himaya against National Unified Procurement Company (NUPCO). |
| Date of Previous Announcement on Tadawul's Website | 2023-10-12 Corresponding to 1445-03-27 |
| Percentage of fulfilled achievement | Don’t apply |
| Event's Expected Completion Date | The expected completion date for this event cannot be determined at this stage. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no costs associated with the event at the moment the financial impact will be disclosed later upon execution of the judgment. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
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Last Price 50.1
Net Change -0.8 (-1.57%)
Value Traded (Sar) 8,787,800.35
Volume Traded 174,675
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