| Element List | Explanation |
|---|---|
| Introduction | With reference to the Company's announcement published on the Saudi Exchange (Tadawul) website on 23/9/1446H (corresponding to 23/3/2025G) regarding the Supreme Administrative Court's ruling overturning the appeal ruling and referring the case to the Administrative Court of Appeal for reconsideration, the Company announces that it has been notified of the Administrative Court of Appeal's ruling upholding the initial ruling issued on 04/12/1444H, which obligated the defendant, Waste Collection and Recycling Company (WASCO), to pay a fine of ten million Saudi riyals (SAR 10,000,000). The Company will receive the Administrative Court of Appeal's ruling on 03/03/1447H (corresponding to 26/08/2025G). It should be noted that there is no financial impact on the current fiscal year ending December 31, 2025G, as the Company had previously recorded a provision of the full amount of ten million Saudi riyals (SAR 10,000,000) during the year ending December 31, 2024G. The Company will file an appeal to the Supreme Administrative Court after receiving the ruling from the Administrative Court of Appeal on the date mentioned above. |
| Previous Announcement | Middle East Paper Company announces the latest developments regarding the issuance of a judicial ruling in favor of its subsidiary in the appeal filed before the Administrative Court of Appeal in the Makkah Region against the General Authority for Competition. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-03-23 Corresponding to 1446-09-23 |
| 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 of the Administrative Court of Appeal's ruling upholding the initial ruling issued on 04/12/1444H, which obligated the defendant, Waste Collection and Recycling Company (WASCO), to pay a fine of ten million Saudi riyals (SAR 10,000,000). The Company will receive the Administrative Court of Appeal's ruling on 03/03/1447H (corresponding to 26/08/2025G). It should be noted that there is no financial impact on the current fiscal year ending December 31, 2025G, as the Company had previously recorded a provision of the full amount of ten million Saudi riyals (SAR 10,000,000) during the year ending December 31, 2024G. The Company will file an appeal to the Supreme Administrative Court after receiving the ruling from the Administrative Court of Appeal on the date mentioned above. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no financial impact on the current fiscal year ending December 31, 2025G, as the Company had previously recorded a provision of the full amount of ten million Saudi riyals (SAR 10,000,000) during the year ending December 31, 2024G. |