AI Summary
| Element List | Explanation |
|---|---|
| Introduction | Reference to the company’s announcement published on the Tadawul website on 20-09-1442 AH corresponding to 2-05-2021 AD and based on the company’s receipt of a letter from its lawyer stating that a judicial ruling was issued by the Commercial Court of Appeal in the Eastern Province in Case No. (1201 for the year 1442 AH) filed by the Saudi Paper Manufacturing Company Against the engineer: Hassan bin Marizan Asiri (the defendant), and where the judgment stated that the case included several facts and irregularities attributed to the defendant. Each of these violations is considered an independent lawsuit, and some of them include lawsuits for accountability, and each violation is of its nature from the point of view of judicial investigation. And consider the evidence, defenses and judgment. Accordingly, the Chamber decided to cancel the ruling of the Seventh Commercial Chamber of the Commercial Court in Dammam, which rejected the lawsuit filed by the Saudi Paper Manufacturing Company against the defendant and ruled again that the lawsuit was not accepted, for the reasons indicated.
Accordingly, the company will take the necessary legal measures in this regard. |
| Previous Announcement | Saudi Paper Manufacturing Co. Announces On registering the liability lawsuit against Ex-Board Member and the CEO, Hassan Bin Mrizn Asiree |
| Date of Previous Announcement on Tadawul's Website | 2021-05-02 Corresponding to 1442-09-20 |
| Percentage of fulfilled achievement | Do not apply |
| Event's Expected Completion Date | It cannot be determined currently, as it depends on the time it will take for the competent authority. |
| Reasons for Exceeding the Announced End Date | Do not apply |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Do not apply |
| Impact of the Delay on the Company's Financial Results | Do not apply |
| Additional Information | The honorable shareholders will be kept constantly informed of all the developments of the issue |
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