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).
