Darb Saudi announces Appeals Committee upholds ruling obliging former board members to pay 69.2 million riyals in compensation.

Logo of Darb Saudi Investment Company.

Darb Saudi Investment Company (formerly Al-Baha Investment and Development Company) announced the decision of the Appeals Committee upholding the decision of the Committee for the Resolution of Securities Disputes that obligated former board members jointly to pay approximately 68.7 million riyals, and obligated them to pay 500,000 riyals as compensation for legal fees.

The company clarified in a statement on Tadawul that the decision included a request to all relevant government departments and authorities to implement this decision through all applicable legal means.

The company indicated that it will announce any material developments.

According to data available on Argaam, Darb Saudi had filed a complaint in May 2025 with the Capital Market Authority against former board members for the term from February 10, 2010 to February 9, 2013.

It explained that the former board members signed a contract to sell assets of Al-Baha Investment and Development Company, whereby a crusher, a cement concrete project, and a hollow core project were purchased from Al-Satia Company for a price of 86 million riyals, as follows:

A- Cash amount of 10 million riyals.

B- The remaining price is paid in kind by relinquishing all of the company's assets, which are:

First: 50% of the entire land in the Al-Murooj plot located in Al-Sail Al-Saghir in Taif, with an area of 114,000 square meters.

Second: The land with an area of 993,000 square meters located west of the western corner of Al-Aqeeq Governorate airport, including what is built on it of the poultry project with all its facilities and fixed and movable assets.

Third: Ownership shares in Al-Baha Private College Company, valued at 18 million riyals.

It clarified that the amount claimed as compensation is 100 million riyals, in addition to legal fees.

The company announced in April 2026 that initial decisions were issued in its favor by the Committee for the Resolution of Securities Disputes, obligating former board members jointly to pay approximately 68.7 million riyals, while it announced in June 2026 that the defendants had appealed to the Committee for the Resolution of Securities Disputes.

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