Further to the announcement of the General Secretariat of Committees for Resolution of Securities Disputes (GS-CRSD) on 01/06/1441 H. corresponding to 26/01/2020, regarding the issuance of the CRSD decision No. (4/L/D1/C/2020) of the year 1441 H. dated 25/05/1441 H., corresponding to 20/01/2020, which concluded with the approval to accept the class action filed by an investor (main claimant) against senior executives in Mohammad Al Mojil Group Company and its auditor. They are: Adel bin Mohammad bin Hamad Almojil, Fahad bin Ali bin Saad Alraqttan, Ibrahim bin Sa’ad bin Ibrahim Alshuai’r, Sek Choy Choong, Amaar bin Adnan bin Ibrahim Qudoomy, Deloitte & Touche Company and Baker bin Abdullah Abu-alkhair, being responsible for the violations committed in the Company’s share (during the period after the Company’s IPO), against whom the final decision of ACRSD No. (1807/L.S/2019) of 1441 H., dated 16/02/1441 H., corresponding to 15/10/2019, which concluded with their conviction for violating Article (49/a) of the Capital Market Law, as well as Article (7) of the Market Conduct Regulations, when they committed acts that created a false and misleading impression regarding the value of the Company’s share by manipulating the financial statements of the Company for the years 2008, 2009, 2010 and 2011, during the period after the Company’s IPO;

The main claimant requested to oblige the respondents to compensate the claimants against the damage they endured as a result of the abovementioned violations;

The GS-CRSD announces the issuance of the Appeal Committee for the Resolution of Securities Disputes’ (ACRSD) decision No. (2229/L.S/2021) of 1442 H., dated 24/09/1442 H., corresponding to 06/05/2021. The decision concluded with endorsing CRSD decision No. 2995/L/D1/C/2020 of 1442 H. indicating that:

First Respondent- Adel bin Mohammad bin Hamad Almojil, Saudi national, National ID No. (1013973340), Second Respondent- Fahad bin Ali bin Saad Alraqttan, Saudi national, National ID No. (1014737967), Third Respondent- Ibrahim bin Sa’ad bin Ibrahim Alshuai’r, Saudi national, National ID No. (1015194465), Fourth Respondent- Sek Choy Choong, New Zealander national, Resident ID No. (2224463121), Fifth Respondent- Amaar bin Adnan bin Ibrahim Qudoomy, Jordanian national, Resident ID No. (2007783935), Sixth Respondent- Deloitte & Touche Company (Bakr Abu-alkhair & Partners), Commercial Registration No. (1010600030), and Seventh Respondent- Baker bin Abdullah Abu-alkhair, Saudi national, National ID No. (1020763064) jointly obliged to compensate the inflected investors (included in the said class action) with the amount of (SR. 40,214,110.73) forty million two hundred fourteen thousand one hundred ten Saudi Riyals and seventy-three Halalas in accordance to the text of the decision’s reasons.  

Name list