Tihama says lawsuit filed against subsidiary

24/12/2024 Argaam
Logo ofTihama Advertising and Public Relations Co.

Logo of Tihama Advertising and Public Relations Co.


A lawsuit was filed against Tihama Advertising and Public Relations Co.’s subsidiary, Tihama Education Co. (a single-person company), at the Riyadh Labor Court for an amount of SAR 15.39 million.

 

In a statement to Tadawul, Tihama said that plaintiff Sari Ibrahim Al Mayouf filed a labor lawsuit (No. 4571389756) against Tihama Education, alleging wrongful termination of the contract.

 

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The plaintiff was the General Manager of Tehama Education, employed under a five-year fixed-term contract starting on April 3, 2023. The termination was based on final decision No. 2870/L.S/2023 of 1444, dated 10/17/1444 (corresponding to 5/7/2023 AD), issued by the Appeal Committee for Resolution of Securities Disputes (ACRSD). This decision prohibited the plaintiff from working in companies listed on the Saudi Stock Exchange (Tadawul) for a period of 10 years.

 

The lawsuit seeks SAR 15.39 million in compensation for the remaining term of the plaintiff's employment contract, as outlined in the legal documents. The plaintiff has authorized their legal advisor to proceed with the lawsuit. At this stage, it is not possible to accurately estimate the potential liability arising from this lawsuit until the commencement of court proceedings.

 

The statement further emphasized that the legal consequences and risks associated with this case cannot be determined at this time. Similarly, the potential financial impact of the lawsuit remains uncertain at this stage.

 

The company has committed to promptly disclosing any significant developments related to this case in accordance with applicable regulations.

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