| Element List | Explanation |
|---|---|
| Introduction | With reference to the company’s previous announcement published on the Tadawul website dated 6/6/1447H corresponding to 7/12/2025G, which included the detection of financial and procedural violations in one of the company’s branches. The company would like to clarify to its esteemed shareholders that on 22/10/2025G, and through periodic inventory operations, the inventory committee observed discrepancies between the actual inventory count and the recorded stock balances. Reports were submitted to the Audit Committee, which in turn held a meeting on 30/10/2025G, and an investigation committee was immediately formed. A formal report was also filed with the Public Prosecution on 10/11/2025G, and a lawyer was appointed to represent the company before the competent authorities. Accordingly, disclosure was made on the Tadawul website on 7/12/2025G. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2025-12-07 Corresponding to 1447-06-16 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Clarification of the date on which the violation was detected, the methods that led to its discovery, and the steps taken by the company up to the announcement on Tadawul. |
| Financial Impact on the change | The company would like to clarify to its shareholders that an investigation is currently underway to determine the actual value of the violation, in order to assess its financial impact on the company. Meanwhile, legal procedures are proceeding to establish the culpability of individuals suspected of involvement in the violation and subsequently prosecute them before the competent courts. The company will disclose any further developments or information related to this matter as they become available. |