Money and business
A lawsuit claiming 15.4 million riyals against a subsidiary company
Tihama Advertising, Public Relations and Marketing Company announced the filing of a labor lawsuit with the Labor Court in Riyadh against one of its subsidiaries, Tihama Education Company – a one-person company, in the amount of 15,390,000 riyals.
The company said in a statement on Tadawul Saudi Arabia: The person who filed the lawsuit was Sari Al-Mayouf, before the Labor Court in Riyadh on December 16.
She noted the registration of a labor lawsuit No. (4571389756) by the plaintiff, Sari Ibrahim Al-Mayouf, against the Tihama Education Company – a one-person company, which is a subsidiary of the Tihama Advertising, Public Relations and Marketing Company, and the reason for it was due to the termination of the contract without a legitimate reason, as stated in the lawsuit, before the labor court in Riyadh, in which an amount is demanded. An amount of 15,390,000 riyals as compensation for the remaining period of the contract.
The company indicated that, according to the claimed contract, the plaintiff’s capacity was that he held the position of general manager of the subsidiary company with a fixed-term employment contract for a period of five years, starting from the date of 04/03/2023, and the reason for the termination was based on the final final decision No. 2870/LS/2023. For the year 1444, dated 10/17/1444 corresponding to 5/7/2023 AD, issued by the Appeals Committee in Securities disputes and the judge prohibiting the plaintiff from working in companies whose shares are traded in the Saudi market for a period of ten years.
According to the lawsuit, the claim amount of 15,390,000 riyals is compensation for the remaining period of the contract as stated in the lawsuit. Regarding the expected financial impact, it cannot be determined at this stage, and any developments related to this case will be announced in due course.
She explained that it is not possible at this stage to determine the legal consequences and risks of this case, and any developments related to this case will be announced in due course.
The company has authorized the legal advisor to follow up on the lawsuit, and it is not possible at this stage to estimate the responsibility that it may bear as a result of the lawsuit until the start of the judicial hearings. Any developments related to this case will be announced in due course.
The company said in a statement on Tadawul Saudi Arabia: The person who filed the lawsuit was Sari Al-Mayouf, before the Labor Court in Riyadh on December 16.
She noted the registration of a labor lawsuit No. (4571389756) by the plaintiff, Sari Ibrahim Al-Mayouf, against the Tihama Education Company – a one-person company, which is a subsidiary of the Tihama Advertising, Public Relations and Marketing Company, and the reason for it was due to the termination of the contract without a legitimate reason, as stated in the lawsuit, before the labor court in Riyadh, in which an amount is demanded. An amount of 15,390,000 riyals as compensation for the remaining period of the contract.
The company indicated that, according to the claimed contract, the plaintiff’s capacity was that he held the position of general manager of the subsidiary company with a fixed-term employment contract for a period of five years, starting from the date of 04/03/2023, and the reason for the termination was based on the final final decision No. 2870/LS/2023. For the year 1444, dated 10/17/1444 corresponding to 5/7/2023 AD, issued by the Appeals Committee in Securities disputes and the judge prohibiting the plaintiff from working in companies whose shares are traded in the Saudi market for a period of ten years.
According to the lawsuit, the claim amount of 15,390,000 riyals is compensation for the remaining period of the contract as stated in the lawsuit. Regarding the expected financial impact, it cannot be determined at this stage, and any developments related to this case will be announced in due course.
She explained that it is not possible at this stage to determine the legal consequences and risks of this case, and any developments related to this case will be announced in due course.
The company has authorized the legal advisor to follow up on the lawsuit, and it is not possible at this stage to estimate the responsibility that it may bear as a result of the lawsuit until the start of the judicial hearings. Any developments related to this case will be announced in due course.
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