The Saudi Paper Manufacturing Company announces the latest developments for the company's (previous) announcement that a suspicion of fraud was discovered in the company's accounting entries during 2017.
| Element List | Explanation |
|---|---|
| Introduction | A reference to the company’s announcement published on the Tadawul website on 08/31/2020 and its announcement of the developments that occurred on 09/16/2021, 05/01/2022 and 06/01/2022, including the issuance of a final judicial ruling from the Court of Appeal in Riyadh in Case No. ( 411368592) confirming the judgment issued in favor of the company in the case of selling the company’s lands, obligating the buyer to pay an amount of 17,300,000 riyals in favor of the Saudi Paper Manufacturing Company and submitting a request for execution to pay the amount.
The company would like to inform the shareholders that the executive court has received the full amount of 17,300,000 riyals, and it will be deposited by the executive court according to the procedures followed by them
The company's management also assures its valued shareholders that it will not hesitate to take the necessary legal measures to preserve its interests and the rights of its shareholders. |
| Previous Announcement | The Saudi Paper Manufacturing Company announces the latest developments for the company's (previous) announcement that a suspicion of fraud was discovered in the company's accounting entries during 2017. |
| Date of Previous Announcement on Tadawul's Website | 2021-01-06 Corresponding to 1442-05-22 |
| Percentage of fulfilled achievement | 100% |
| Event's Expected Completion Date | The full amount was received 17,300,000 riyals |
| Reasons for Exceeding the Announced End Date | no more |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | It will boost the company's cash flow |
| Impact of the Delay on the Company's Financial Results | no more |
| Additional Information | no more |
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