Reference is made to the announcement issued by Scientific & Medical Equipment House Co. on 22-05-1446 AH (corresponding to) 24-11-2024 AD regarding the annulment of the final appeal judgment—rendered enforceable—in the lawsuit filed by Ruaa Al-Himaya Company (a subsidiary) against the National Unified Procurement Company (Nobco). Pursuant to the initial ruling issued by the 13th Chamber of the Commercial Court in Riyadh, the case has been referred to another appellate chamber to review Nobco’s objection and to reexamine the case files.
Accordingly, the Company wishes to inform its esteemed shareholders that an endorsement of the initial ruling has been issued by the Third Appellate Chamber of the Commercial Court in Riyadh. The chamber ruled to issue the final judgment and obliged the National Unified Procurement Company for Drugs, Devices, and Medical Supplies (Nobco) to pay Ruaa Al-Himaya Company (a subsidiary) the following amounts:
1. An amount of (60,568,458.65) – sixty million, five hundred and sixty-eight thousand, four hundred and fifty-eight riyals and sixty-five halalas.
2. An amount of (135,000) – one hundred and thirty-five thousand riyals for expert fees in this case.
3. An amount of (500,000) – five hundred thousand riyals for attorney’s fees.
Previous Announcement
Scientific & Medical Equipment House Co. announces the issuance of the annulment of the final appeal judgment, endorsed in an enforceable form, in the lawsuit filed by Ruaa Al-Himaya Company (a subsidiary) against the National Unified Procurement Company (Nobco).
Date of Previous Announcement on Saudi Exchange’s Website
2024-11-24 Corresponding to 1446-05-22
Hyperlink to the Previous Announcement on the Saudi Exchange Website
Click Here
Latest Developments Of The Announced Event
Endorsement of the initial ruling has been issued by the Third Appellate Chamber of the Commercial Court in Riyadh. The chamber ruled to issue the final judgment and obliged the National Unified Procurement Company for Drugs, Devices, and Medical Supplies (Nobco) to pay Ruaa Al-Himaya Company (a subsidiary) the following amounts:
1. An amount of (60,568,458.65) – sixty million, five hundred and sixty-eight thousand, four hundred and fifty-eight riyals and sixty-five halalas.
2. An amount of (135,000) – one hundred and thirty-five thousand riyals for expert fees in this case.
3. An amount of (500,000) – five hundred thousand riyals for attorney’s fees.
Reasons For The Delay on The Date of The Event Previously Announced
There is no delay, as the company is actively monitoring the updates in this regard and will announce any significant developments as they occur.
The costs associated with the event, and if they have changed or not with indication of the reasons.
There is no change in the event-related costs, and currently, there are no costs associated with the event during the present period.
Delay consequences on the Company’s financial results
Not applicable.
Additional Information
The judgment was pronounced today, Tuesday, 26-08-1446 AH (corresponding to) 25-02-2025 AD, and we are awaiting the issuance, receipt, and execution of the judgment decree.
