Announcement from the Capital Market Authority on the Final Decision Issued by the Appeal Committee for the Resolution of Securities Disputes

Wednesday, June 26, 2019 at 3:45 PM

Wed Jun 26, 2019 15:45

Following the announcement of the Capital Market Authority published on its website on 28/06/1438 H. corresponding to 27/03/2017 G., which included the issuance of CMA Board resolution to impose a fine of (50,000) Fifty Thousand Saudi Riyals on Mouwasat Medical Services Co. due to its violation of paragraph (f) of Article (213) of the Companies Law. The company prevented a shareholder from exercising voting rights associated with his shares in Mouwasat Medical Services Co., at the Ordinary General Assembly Meeting on 27/03/1438 H. corresponding to 26/12/2016 G.         (to review the announcement click here). The Capital Market Authority would like to announces that the Appeal Committee for the Resolution of Securities Disputes has issued its final decision on 12/09/1440 H. corresponding to 17/5/2019 G., on the lawsuit filed by Mouwasat Medical Services Co. against the Capital Market Authority. The verdict concluded with upholding the decision issued by the Committee for the Resolution of Securities Disputes, to revoke the abovementioned CMA Board decision.