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Saudi Ground Services Company Announces Receiving Legal Proceedings
| Element List | Explanation |
|---|---|
| Introduction | Saudi Ground Services Company announces that it has received legal proceedings from the Commercial Court in Jeddah regarding a lawsuit filed by Saudi Amad for Airport Services and Transport Support (SAAS). |
| Lawsuit Opponent | Saudi Amad for Airport Services and Transport Support (SAAS) – a closed joint stock company in which Saudi Ground Services Company owns a 50% stake (in equity-accounted investments). |
| Name of the Plaintiff | Saudi Amad for Airport Services and Transport Support (SAAS) – a closed joint stock company in which Saudi Ground Services Company owns a 50% stake (in equity-accounted investments). |
| Type of the Lawsuit | Financial claim. |
| Name and Location of the Competent Judicial Authority | Commercial Court in Jeddah. |
| Date of Submitting the Lawsuit | 2025-12-18 Corresponding to 1447-06-27 |
| Summery of the Lawsuit and its Reasons | The plaintiff is claiming an amount of (201,150,673) Two hundred one million, one hundred fifty thousand, six hundred seventy-three Saudi Riyals in consideration for providing passenger transportation services for travellers, deportees, and crew members. |
| Expected Financial Impact Including the Claimed Sums, Fees and any other Charges | According to the lawsuit, the total amount under claim is(201,150,673) Two hundred one million, one hundred fifty thousand, six hundred seventy-three Saudi Riyals. At this stage, the potential financial impact cannot be assessed, and the Company will disclose any material developments related to this case as they arise. |
| Any Substantial Legal, Regulatory, or Operational Risks that may Result from the Lawsuit, including the Results of such Impact on the Company's Financial, Legal or Operational Standing | At this stage, the legal implications and potential risks associated with this case cannot be assessed. The Company will announce any material developments related to the matter as they become available. |
| Measures Taken by the Company, including the Estimation of the Potential Liability Resulting from the Lawsuit | A specialized law firm will be appointed to handle the case and represent the Company in protecting its interests. At this stage, it is not possible to estimate any potential liability that may arise from the lawsuit until court proceedings commence. The Company will disclose any material developments related to this matter as they occur. |
| Additional Information | The Company confirms that the case remains under review and that it continues to preserve all its legal rights. The Company is currently working with its legal advisors to assess the claim and take the necessary actions to safeguard its interests. Any material developments related to this matter will be disclosed in due course in accordance with applicable laws and regulations. |
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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