Riyadh – Mubasher: Mohammad Al-Mojil Group Company announced on Monday that the sale and auction company appointed by the court has put an auction of movable items’ notice outside of the company.
The announcement refers a directive no. 3816713 dated H1438/3/6 issued by the Execution Court in Dammam and states that all movable items owned by the company inside the site have been under seizure and shall be put on auction due to judgments issued against the company, according to a bourse filing.
The company noted that it is still unaware with the details of the aforesaid directive including the beneficiaries of the cash collections from auction.
Al-Mojil believes that it would take some days to calculate the financial values of all movable items present in the site, and estimate their impact on the financial statements, said the statement.
