IssuerAnnouncementDetailsV2Portlet
Actions
Saudi Darb Investment Co. Announces an update on The case filed against the former members of the Board of Directors for the term from 10 February 2010 to 9 February 2013 before the Capital Market Authority – Committee for the Resolution of Securities Disputes, seeking compensation, jointly and severally, in the amount of SAR 100,000,000.
| Element List | Explanation |
|---|---|
| Introduction | Further to the Company’s announcement regarding the case filed against the former members of the Board of Directors for the term from 10 February 2010 to 9 February 2013 before the Capital Market Authority, seeking compensation for the Company, jointly and severally, in the amount of SAR 100,000,000, the Company wishes to inform its shareholders that it has, on Wednesday, 5 Dhu al-Qa’dah 1447H, corresponding to 22 April 2026, received the decision issued by the Committee for the Resolution of Securities Disputes in the claim filed by the Company against six former members of the Board of Directors. |
| Previous Announcement | The case filed against the former members of the Board of Directors for the term from 10 February 2010 to 9 February 2013 before the Capital Market Authority – Committee for the Resolution of Securities Disputes, seeking compensation, jointly and severally, in the amount of SAR 100,000,000. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-07-21 Corresponding to 1447-01-26 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Saudi Darb Investment Company (formerly Al Baha Investment and Development Company) is pleased to announce to its esteemed shareholders that it has received a notification from the Company’s legal counsel, namely Mr. Ahmed bin Othman Al-Huqail, Mr. Abdulilah bin Abdullah Al-Shaheel, and Mr. Saad bin Fahd Al-Khanfari of Ahmed bin Othman Al-Huqail & Partners Law Firm and Legal Consultants, stating that the Committee for the Resolution of Securities Disputes has issued its preliminary decision, which ruled as follows: First: Ordering the defendants, jointly and severally, to pay the claimant, Darb Saudi Investment Company (formerly Al Baha Investment and Development Company), an amount of SAR 68,699,441 (sixty-eight million, six hundred ninety-nine thousand, four hundred forty-one Saudi Riyals). Second: Ordering the defendants, jointly and severally, to pay the claimant an amount of SAR 500,000 (five hundred thousand Saudi Riyals) as compensation for legal fees. Third: Dismissing all other claims. The Company further notes that the decision issued in the above case against the members of the Board of Directors is a preliminary decision and is subject to appeal within 30 days from the date of receipt of the decision notice. And Allah is the Grantor of success. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The positive impact will be announced upon the decision becoming final and enforceable, God willing. May Allah grant success, and all praise is due to Allah, Lord of the Worlds. |
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.
Share
Company Performance
Key Parameters
Last Price 2.12
Net Change 0.01 (+0.47%)
Value Traded (Sar) 6,992,707.21
Volume Traded 3,302,956
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions