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Further to the announcement of the General Secretariat of the Committees for the Resolution of Securities Disputes (GS-CRSD) on 14/06/1440 H. corresponding to 19/02/2019 regarding the issuance of the Committee for Resolution of Securities Disputes (CRSD) No. (1/L/D1/C/2019) of the year 1440 H. on 29/05/1440 H. corresponding to 04/02/2019, ruling for the acceptance of the request to register the class action filed by one investor (main claimant) against the members of the Board of Directors of Muhammad Al-Mojil Group Company (the Company), some of its senior executives and its auditor;

They are: Muhammad bin Hamad bin Abdulkarim Almojil, Adel bin Muhammad bin Hamad Almojil, Fahad bin Ali bin Saad Alraqttan, Jasim bin Muhammad bin Ali Alansari, Abdullah bin Muhammad bin Saad Alhariqi, Zaki bin Mansour bin Ahmad Abo-assoud, Ahmad bin Naser bin Yakoup Alswaidan, Deloitte & Touche Company (Bakr Abu-alkhair & Partners), and Baker bin Abdullah Abu-alkhair.

These persons are responsible for the violations committed on the Company's shares (during the Company's IPO phase). A final decision was issued against these persons by the Appeal Committee for Resolution of Securities Disputes (ACRSD) on 11/05/1438 H. corresponding to 08/02/2017, which included their conviction of violating Article (49/a) of the Capital Market Law, and Article (7) of the Market Conduct Regulations, for committing acts that created a false and misleading impression regarding the value of the Company's security during the Company's IPO stage.

The claimants requested that the respondents be obligated to compensate them for the damages that affected the claimants' subscriptions in the Company as a result of the mentioned violations.

Additionally, further to the announcement of the GS-CRSD on 03/08/1440 H. corresponding to 09/04/2019 regarding the issuance of the CRSD No. (2/L/D1/C/2019) of the year 1440 H. on 24/07/1440 H. corresponding to 31/03/2019, stipulating the approval to accept the above-mentioned class action filed by the main claimant, after the number of requests that share the same legal bases, claimed facts and the subject matter of the requests reached the legal limit for issuing a decision to accept the class action.

Now, the GS-CRSD announces the issuance of the ACRSD decision No. 1888/L.S/2020 of the year 1441 H. on 07/07/1441 H. corresponding to 02/03/2020. The operative part of the decision concluded with the following:

1. Compensate the affected investors (who joined the abovementioned class action) from the gains collected from the first respondent: Muhammad bin Hamad bin Abdulkarim Almojil, a Saudi national with national ID No. (1021458706), which was ruled for in the ACRSD decision No. (1189/L.S/2017) of the year 1438 H. dated 11/05/1438 H., as explained in the reasons of the decision.
2. Compensate the main claimant for the expenses of the class action from the gains collected from the first respondent: Muhammad bin Hamad bin Abdulkarim Almojil, which was ruled for in the ACRSD No. (1189/L.S/2017) of the year 1438 H. dated 11/05/1438 H.
3. Oblige the rest of the respondents, combined, to bear whatever amounts that exceed the amounts collected from the illegal gains achieved by the first respondent: Muhammad bin Hamad bin Abdulkarim Almojil, in accordance with the CRSD's decision No. (1788/L/D1/2016) of the year 1437 H. dated 10/09/1437 H., upheld by the ACRSD decision No. (1189/L.S/2017) of the year 1438 H. dated 11/05/1438 H.
4. Reject other claims.