Keir International Company Announces Updates on Certain Obligations Disclosed in the Financial Statements

Keir International Company disclosed a total of approximately SAR 19 million in material lawsuits as of its financial year ended December 31, 2025, with SAR 9.3 million of this total already subject to final judgments.
The company has recognized all necessary accounting provisions for these claims in accordance with International Financial Reporting Standards (IFRS), stating that these obligations are being managed within its current financial plan.
These disputes are characterized as ordinary operational risks within the contracting sector, involving issues such as completion percentages, contractual claims, and permit closures.
Management is actively pursuing legal measures, including objection and cassation procedures, against judgments where it maintains legal grounds and supporting documentation to protect the company's position.

Element List	Explanation
Announcement Detail	Further to Keir International Company’s announcement regarding the publication of its annual financial statements for the financial year ended 31 December 2025, and in line with the Company’s commitment to the principles of disclosure and transparency towards its shareholders, the Company would like to disclose that the total value of material lawsuits filed against it amounted to approximately SAR 19 million, of which an amount of SAR 9.3 million is subject to a final judgment. The Company clarifies that the nature of contracting activities may result in disputes relating to completion percentages, contractual claims, closures of permits, and completion certificates, which are considered ordinary operational risks in this sector. The Company further confirms that it is taking all necessary legal measures in accordance with the relevant laws and regulations, including initiating objection or cassation procedures against judgments where it believes it has legal grounds and supporting documents that substantiate its position, as permitted under the applicable laws. The Company also states that it has recognized the necessary accounting provisions for these lawsuits based on the assessment of management and legal advisors, and in accordance with the requirements of International Financial Reporting Standards. The Company further confirms that it is managing these obligations within its financial plan.

Element List

Explanation

Announcement Detail

Further to Keir International Company’s announcement regarding the publication of its annual financial statements for the financial year ended 31 December 2025, and in line with the Company’s commitment to the principles of disclosure and transparency towards its shareholders, the Company would like to disclose that the total value of material lawsuits filed against it amounted to approximately SAR 19 million, of which an amount of SAR 9.3 million is subject to a final judgment.

The Company clarifies that the nature of contracting activities may result in disputes relating to completion percentages, contractual claims, closures of permits, and completion certificates, which are considered ordinary operational risks in this sector.

The Company further confirms that it is taking all necessary legal measures in accordance with the relevant laws and regulations, including initiating objection or cassation procedures against judgments where it believes it has legal grounds and supporting documents that substantiate its position, as permitted under the applicable laws.

The Company also states that it has recognized the necessary accounting provisions for these lawsuits based on the assessment of management and legal advisors, and in accordance with the requirements of International Financial Reporting Standards. The Company further confirms that it is managing these obligations within its financial plan.