Riyadh – Mubasher: Saudi Darb Investment Company has filed six enforcement requests with the Riyadh Enforcement Court against former members of its board of directors.
The legal action follows a final decision issued by the Appeal Committee for Resolution of Securities Disputes regarding a compensation claim originally valued at SAR 100 million.
The enforcement orders target board members who served during the term spanning 10 February 2010 to 9 February 2013.
The Riyadh Enforcement Court has issued orders under Article 34 of the Enforcement Law, requiring the defendants to pay a total of SAR 69.10 million.
Under the terms of the judicial notice, the former directors must comply with the execution of the debt within 5 days of notification.
The company stated that if the defendants fail to settle the amount within the statutory period, further measures and procedures prescribed by the Enforcement Law will be implemented.
Saudi Darb, through its legal counsel Ahmed bin Othman Al Hukail & Partners, confirmed it is actively monitoring the proceedings to ensure the recovery of shareholder rights. This development follows a previous disclosure made on 21 July.
