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January 30, 2022

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) announces the latest update regarding the request to file a lawsuit
ELEMENT LIST EXPLANATION
Introduction The Mediterranean and Gulf Insurance, Reinsurance and Reinsurance Company (Medgulf) is pleased to announce the latest update regarding the file lawsuit Against the Previous MD and CEO, that the Company has interred in to settlement agreement with the amount of 59 million riyals, in addition to Assisting in collecting outstanding amount from reinsurers.
Previous Announcement The court of appeal in Riyadh has made its judgement on Monday 04/02/1442H, (21/09/2020) to cancel the ruling issued by the commercial court for the case no.(1582) made in 1434 H due to the Commercial Court has no jurisdiction over this case,
Date of Previous Announcement on Tadawul's Website 2020-09-22 Corresponding to 1442-02-05
Percentage of fulfilled achievement Not applicable
Event's Expected Completion Date Not applicable
Reasons for Exceeding the Announced End Date Not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. Not applicable
Impact of the Delay on the Company's Financial Results Not applicable
Additional Information We will be announce later for any Material update


The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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