Al Mawarid Manpower Co. Announces an update on Mawarid Manpower Company announces that it has filed a lawsuit in the Commercial Court against Quick Services Company for Electronic -Marketing.
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement by Mawarid Manpower Company on 28/08/2025, that it had filed a lawsuit with the Commercial Court in Riyadh against Quick Services Company for Electronic -Marketing (MATIC).
Mawarid Manpower Company announces that on 16/09/2025, a preliminary ruling was issued in terms of form by the Commercial Court in Riyadh, stating that it lacked subject-matter jurisdiction. |
| Previous Announcement | Mawarid Manpower Company announces that it has filed a lawsuit in the Commercial Court against Quick Services Company for Electronic -Marketing. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-08-28 Corresponding to 1447-03-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | A preliminary ruling was issued by the Commercial Court in Riyadh, stating that it lacked subject-matter jurisdiction, based on the fact that the contract between Mawarid Manpower Company and Quick Services Company for Electronic -Marketing (MATIC) was not a commercial contract, but rather a service contract.
The company's lawyer will appeal the ruling and submit it to the Court of Appeal. |
| Reasons For The Delay on The Date of The Event Previously Announced | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There are no changes in costs, as the necessary amounts have been provided in the company's consolidated financial statements at the end of fiscal year 2024 to meet the claim amount contained in the lawsuit. |
| Delay consequences on the Company’s financial results | None |
| Additional Information | The company's lawyer opinion believes that the above-mentioned judgment has no effect on the continuation of the lawsuit proceedings, as the ruling is merely procedural and does not address the substantive aspects of the lawsuit. There is a high probability that the appeal will be accepted. In the event the appeal is rejected, the lawsuit will be filed with the General Court. |
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