Saudi Chemical Co. declares a ruling by the Board of Grievances regarding SITCO Pharma (subsidiary company)
This is to inform all shareholders regarding preliminary decision of the Board of Grievances on 1/5/2012 to dismiss the lawsuit filed by SITCO Pharma (subsidiary company) against the Ministry of Health since 1425H, regarding the claim for the policy that was followed by the Ministry in fixing the rate of exchange, and the amount of the case is 144,109,197 SAR one hundred and forty four million, one hundred and nine thousand, one hundred and ninety seven riyals. The company is going to appeal the judgment as SITCO is convinced that it should be compensated. It should be, also, noted, this decision will not affect the financial statement negatively.
© Tadawul 2012
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