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Twareat Medical Care Co. Announces an update on its announcement of filing a lawsuit against the Saudi Basic Industries Corporation (SABIC).

TMC 9627 7.06% 9.10 0.60

Element List Explanation
Introduction With reference to the previous announcements by Twareat Medical Care Company regarding the lawsuit filed against the Saudi Basic Industries Corporation (SABIC), the Company announces the latest developments in the case.
Previous Announcement Twareat Medical Care Co. Announces an update on its announcement of filing of a lawsuit against the Saudi Basic Industries Corporation (SABIC).
Date of Previous Announcement on Saudi Exchange’s Website 2025-12-30 Corresponding to 1447-07-10
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event Twareat Medical Care Company announces that on 12/03/1448H (corresponding to 25/08/2026G), the Preliminary Circuit of the Commercial Court in Riyadh ruled as follows:

First: Not to hear the claim filed by the plaintiff, Twareat Medical Care Company, against the defendant, Saudi Basic Industries Corporation (SABIC), with respect to the claim arising from the contractual year extending from 01/12/2019G to 30/11/2020G, due to the lapse of the statutorily prescribed period.

Second: Obligating the defendant, Saudi Basic Industries Corporation (SABIC), to pay the plaintiff, Twareat Medical Care Company, an amount of SAR 1,030,464.05 (one million thirty thousand four hundred sixty-four Saudi Riyals and five Halalas).

Third: Lack of jurisdiction of the Commercial Court to hear the plaintiff's request to obligate the defendant to pay the Value Added Tax (VAT) arising from the principal claim.

Fourth: Obligating the defendant to pay the plaintiff an amount of SAR 6,516.73 (six thousand five hundred sixteen Saudi Riyals and seventy-three Halalas), representing its share of the expert fees deposited by the plaintiff.

Fifth: Rejecting all other claims.

It is worth noting that the issued ruling is a preliminary judgment, subject to appeal after the judgment deed is received.

Reasons For The Delay on The Date of The Event Previously Announced N/A
The costs associated with the event, and if they have changed or not with indication of the reasons. N/A
Delay consequences on the Company’s financial results N/A
Additional Information The company will announce any further material developments in due course.

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