National Agricultural Marketing Co. (Thimar) announced today, Nov. 29, that a preliminary court ruling was issued in its favor by Riyadh Commercial Court, 13th circuit, on Nov. 25, 2020, amounting to a claim of SAR 22.41 million, according to a bourse filing.
The company clarified that the legal action was filed against an investor for repayment of remaining debt.
The ruling shall have a positive impact on its operation, Thimar said, noting that the company finds its position to be strong in case the defendant decides to challenge the ruling.
The company will receive the judgment wording in the coming two weeks.
Any material developments will be disclosed in due course, the statement said.
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