| Element List | Explanation |
|---|---|
| Introduction | BATIC Investment and Logistics Company Announces the Latest Developments Regarding Its Previous Announcement on the Receipt by One of Its Subsidiaries, Smart Cities Telecommunications and Information Technology Solutions Company (Closed Joint Stock Company), of an Execution Order Notification Issued by the Administrative Execution Court. |
| Previous Announcement | Announcement by BATIC Investment and Logistics Company Regarding Notification of an Execution Order Against Its Subsidiary |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-07-05 Corresponding to 1448-01-20 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company announces that it has been notified by its subsidiary, Smart Cities Telecommunications and Information Technology Solutions Company (Closed Joint Stock Company), of the issuance of a decision by the Administrative Execution Court dated 26 July 2026 to preserve the execution request relating to the execution application filed by Al-Qassim Region Municipality (Furas Platform) in the amount of SAR 42,212,187.50 (inclusive of VAT). The decision was issued after the subsidiary notified the Court that it had filed an objection before the Supreme Administrative Court seeking to overturn the judgment and annul the enforceable instrument, pursuant to Article (4/4) of the Implementing Regulations of the Enforcement Law before the Board of Grievances. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
Batic Investments and Logistics Co. Announces an update on Announcement by BATIC Investment and Logistics Company Regarding Notification of an Execution Order Against Its Subsidiary
AI Summary
- The Administrative Execution Court issued a decision on July 26, 2026, to preserve (stay) an execution request against BATIC’s subsidiary, Smart Cities Telecommunications and Information Technology Solutions Company.
- The execution application was originally filed by the Al-Qassim Region Municipality for an amount totaling SAR 42,212,187.50, inclusive of VAT.
- The court's decision follows an objection filed by the subsidiary before the Supreme Administrative Court to overturn the judgment and annul the enforceable instrument.
