Jana ordered to pay SAR 6.3M in arbitration ruling

Logo of Jana Medical Co.

Jana Medical Co. announced that, as disclosed in its prospectus, the commercial arbitration panel in Riyadh has ruled against the company in case No. (4571253509), requiring it to pay SAR 6.3 million to the claimant, including arbitration fees.

 

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In a statement to Tadawul, the company said the case was filed by a sole proprietorship on Aug. 26, 2023, seeking a financial claim of SAR 5.95 million for a project involving the supply of buses to the Saudi Red Crescent Authority (SRCA), along with SAR 350,000 in arbitration fees.

 

Jana added that it does not anticipate any risks to its financial or operational position.

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