Widham discloses lawsuit No. 427

Widham discloses lawsuit No. 427

Widam Food Company disclosed that the Second Circuit High Court of First Instance issued its ruling on 29/11/2016 in Case No. 427/2016 filed by Mr. Abdullah bin Nasser Al-Misnad against both Ezdan Holding Group and Widam Food Company, where the court ruled as follows: First: Not to accept the urgent request to stop dealing on the shares owned by the Ezdan Holding Group, which amount to 23.02% of the capital shares of Widam Food Company. Second: Not accepting the substantive request to be submitted by a non-qualified person regarding the request to invalidate the ownership of Ezdan Group Company, through its subsidiaries, for 23% of the capital of Widam Food Company, which amounts to 4,176,000 shares. Third: Not accepting the objective request to nullify all contracts, actions and actions that accompanied and resulted from the ownership of the Ezdan Group company through its subsidiaries for the group of shares, which amounted to 4,876,000 shares transferred to it in violation of the law and the articles of association of Widam Food Company. Fourth: Not accepting the request to compel Ezdan Group Company and Widam Food Company to jointly pay an amount of one hundred million Qatari riyals as compensation for the damages sustained by the plaintiff as a result of the Ezdan Group Company owning 23.02% of the capital of Widam Food Company To view the text of the ruling, click here

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