An Announcement from General Secretariat of CRSD Regarding the Issuance of CRSD Decision to Accept the Class Action Suit Filed by an Investor against Individuals Responsible for Violations Committed in Mohammad Al-Mojil Group

​​Further to the announcement of the General Secretariat of Committees for Resolution of Securities Disputes (GS-CRSD) on 05/04/1441 H. corresponding to 02/12/2019G., regarding the issuance of the Committee for the Resolution of Securities Disputes (CRSD) decision No. (3/L/D1/2019) of the year 1441 H. dated 04/04/1441 H., corresponding to 01/12/2019G., which concluded with the acceptance of the request to register the class action suit filed by an investor against the members of the board of directors of Mohammad Al-Mojil Group Company (the Company), as well as against some of its senior executives along with its auditors referred to previously in the same announcement, responsible for the violations committed during the phase after the Company’s IPO.

The GS-CRSD announces the issuance of the CRSD decision No. (4/L/D1/C/2020) of the year 1441 H. dated 25/05/1441 H., corresponding to 20/01/2020G., which concluded with the approval to accept the class action suit referred to above filed by the lead plaintiff  , after the number of joining requests that share the same legal bases, merits and subject matter of the claims has reached the specified threshold to issue an approval of the class action suit.

Moreover, in accordance with Article (52) of the Resolution of Securities Disputes Proceedings Regulations, any person who has purchased shares of the Company after the date on which its first financial statements was published (After the IPO Stage) on 12/07/2008G. and maintained it in his/her possession up to the date of 22/02/2012G., on which the Company announced its losses during the fourth quarter of 2011G. amounting to (SR. 1,034) million Saudi Riyals, has the right to submit an application to the CRSD to join the above-mentioned class action suit. The submittal of such application must be within (90) days as of the date 05/04/1441 H. corresponding to 02/12/2019G. The Committee shall study such application in line with the legal procedures, provided that the submission of the application is through the Capital Market Authority, via the following link: (link​).