العربية

Download
stc
Annual Report
menu image 1
menu image 1
menu image 1
menu image 1
menu image 1
menu image 1
menu image 1
 

A brief overview of stc
Group

 

,The performance, activities

and investments of stc Group

and its subsidiaries during

the year 2022

 

Risks management

and transactions with

related parties

 

Board of Directors and
Committees

 

Dividends Policy and Distribution

and Board Recommendations and

Compensation

 

Conclusion

 

Financial Consolidated

Statements

A brief overview of stc Group The performance, activities, and
nvestments of stc Group and
its subsidiaries during the year 2022 Risks management and transactions
with related parties Board of Directors and Committees Dividends Policy and
Distribution and Board
Recommendations and Compensation Conclusion Financial Consolidated
Statements

Legal Disclosure

Sanctions, Penalties and Reserve Restrictions

General Authority for Competition (GAC) and Communications, Space & Technology Commission violation committee (CST), as well as others, have issued a number of decisions against stc, and based on the responsibility of stc to defend the rights of the shareholders and the mandate granted to the company under Telecommunication act, stc has grieved these decisions by filing lawsuits at courts. There are various reasons for these decisions, some of them related to prepaid SIMs issuance, national calls transit services through other operator's services, not activating Mobile Number Portability (MNP), providing offers or discounts, which is illegal based on CST’s point of view, or using unlicensed frequencies. Also there are some decisions that are related to some customer's complaints.

This is in addition to decisions of imposing equivalent fees for studying customer's complaints, whereas, the cases filed by stc against these decisions reached (2,716) cases by the end of fiscal year 2022, with total amount of

SAR

(1,236,0,900)

detailed as follows:

Cases ended with final judgments in favor of stc by the end of fiscal year 2022: (395) cases with total amount of

SAR

(642,059,000)

Active cases handling in the grievance board by the end fiscal year 2022: (92) cases, with total value of

SAR

(148,191,400)

Cases ended with final judgments against stc by the end of fiscal year 2022: (2,229) cases with total amount of

SAR

(446,537,500)

Including decisions that the company could not find legal standing to grievance.