| Element List |
Explanation |
| Introduction |
With reference to the company's announcement published on the Tadawul website on 23/10/1445H corresponding to 05/02/2024 AD, the General Authority for Competition appealed to the Administrative Court of Appeal in the Makkah Al-Mukarramah region. On 10/07/1445 AH (corresponding to 16/04/2024 AD), Judgment No. (7760) was issued by the Court of Appeal to overturn the judgment issued on 06/14/1445 AH in Administrative Case No. (4082) for the year 1445 AH by the Twenty-Second Circuit of the Administrative Court in Riyadh The court again rejected the company's lawsuit against the General Authority for Competition. The ruling was received on 22/10/1445 AH (corresponding to 05/01/2024 AD). The company recorded a provision amounting to (14.4) million riyals, which represents the full value of the claim filed by the Authority. The company filed an objection with the Supreme Administrative Court on 11/06/1445 AH (corresponding to 14/05/2025 AD) |
| Previous Announcement |
Judgment No. (7760) issued by the Administrative Court of Appeal in the Makkah Al-Mukarramah region, rejecting the lawsuit filed by the United Mining Industries Company against the General Authority for Competition |
| Date of Previous Announcement on Saudi Exchange’s Website |
2024-05-02 Corresponding to 1445-10-23 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
The company would like to announce to its shareholders that on 08/11/1446 AH corresponding to 06/05/2025 AD, it received, through the company's attorney, the final statement of the case stating that the Supreme Administrative Court rejected the objection submitted by the United Mining Industries Company against Judgment No. 7760 issued by the Administrative Court of Appeal in the Makkah Al-Mukarramah region. This is because the objection was not based on any of the reasons stated in Article (Eleven) of the Board of Grievances System |
| Reasons For The Delay on The Date of The Event Previously Announced |
Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
The company recorded a provision amounting to (14.4) million riyals in the fiscal year 2024 AD, and the company paid the full amount of the fine as stated in the company’s previous announcement, and there are no changes |
| Delay consequences on the Company’s financial results |
Not applicable |
| Additional Information |
The company has taken all necessary legal measures and exhausted all legal avenues during the litigation process, in order to preserve its rights and the rights of its shareholders |
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