Logo ofSaudi Darb Investment Co.
Saudi Darb Investment Co. announced that the Enforcement Circuit of the Enforcement Court in Riyadh has issued, in each of the six cased filed against former board members for the term from Feb. 10, 2010, to Feb. 9, 2023, the enforcement order stipulated in Article 34 of the Enforcement Law. 
The order obligates the judgment debtors to execute the content of the enforcement instrument within five days from the date of their notification, for a total amount of SAR 69.1 million, it said in a statement to Tadawul.
In the event of non-execution within the statutory period, the procedures and measures stipulated in the Enforcement Law and its implementing regulations shall be taken, it added.
The company also confirmed that it is following up on the enforcement procedures through its legal advisor and will announce to its shareholders any material developments that may arise in this regard.
Earlier this month, Saudi Darb announced that the Appeals Committee has upheld the ruling of the Committee for the Resolution of Securities Disputes, requiring former board members, jointly and severally, to pay nearly SAR 68.7 million in compensation and SAR 500,000 in legal fees.
Logo ofSaudi Darb Investment Co.
Saudi Darb Investment Co. announced that the Enforcement Circuit of the Enforcement Court in Riyadh has issued, in each of the six cased filed against former board members for the term from Feb. 10, 2010, to Feb. 9, 2023, the enforcement order stipulated in Article 34 of the Enforcement Law.
The order obligates the judgment debtors to execute the content of the enforcement instrument within five days from the date of their notification, for a total amount of SAR 69.1 million, it said in a statement to Tadawul.
In the event of non-execution within the statutory period, the procedures and measures stipulated in the Enforcement Law and its implementing regulations shall be taken, it added.
The company also confirmed that it is following up on the enforcement procedures through its legal advisor and will announce to its shareholders any material developments that may arise in this regard.
Earlier this month, Saudi Darb announced that the Appeals Committee has upheld the ruling of the Committee for the Resolution of Securities Disputes, requiring former board members, jointly and severally, to pay nearly SAR 68.7 million in compensation and SAR 500,000 in legal fees.
