Reference to the announcement of the company published on Tadawul website on 28-12-1436H (corresponding to 11-10-2015G) regarding the preliminary decisions by the Committee for the Resolution of Securities Disputes on lawsuits filed by some investors regarding compensation for losses they claimed they suffered as a result of the financial statements approved by the board of directors of the company, which were decided in Mobily favor, Mobily announces that it has received on Sunday 27-02-1438H (corresponding to 27-11-2016G) the first decisions issued by the Appeal Committee for the Resolution of Securities Disputes regarding some of these lawsuits that had been appealed by some of the plaintiffs. The Appeal Committee decided to invalidate the appealed decisions of the Committee for the Resolution of Securities Disputes and resend the cases back to the Committee for the Resolution of Securities Disputes for further review according to the reasoning in the decisions of the Appeal Committee. In reaching its decisions, the Appeal Committee noted that reviewing the cases requires examining the responsibility of the company and the people engaged in its management in light of the relevant articles of the Capital Market Law and its implementing regulations. In this regard, Mobily provides that the impact of these decisions issued by the Appeal Committee, if any, on Mobily accounts can not be determined at this stage.
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