Arab Sea wins claim against Al-Rayan

10/04/2018 Argaam

 

Nomu-listed Arab Sea Information System Co. won on Monday a lawsuit filed in 2010 against Al-Rayan Co., the software company said in a bourse statement.

 

Riyadh Commercial Court issued a ruling on terminating the contract signed by both companies and returning 1 million shares to Arab Sea, of which 20 percent were listed on Nomu Parallel Market under the name of the company’s board chairman.

 

The ownership of these shares will be transferred to Arab Sea, the statement added.

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