Imposition of a Fine on Arabian Pipes Co., due to the Violation of the Rules on the Offer of Securities and Continuing Obligations.
Wednesday, July 03, 2019 at 3:47 PM
Wed Jul 3, 2019 15:47
The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (20,000) Twenty Thousand Saudi Riyals on Arabian Pipes Co. due to its violation of Article (65) of the Rules on the Offer of Securities and Continuing Obligations. Where the Company did not provide the Authority with and did not disclose to the shareholders its board of directors’ report for the financial year ending on 31/12/2018 G within the specified period, and where the company did not disclose that until 07/04/2019 G.