Imposition of a Fine on Fawaz Abdulaziz Al-Hokair Co. due to the violation of the Rules on the Offer of Securities and Continuing Obligations.
Wednesday, November 04, 2020 at 4:24 PM
Wed Nov 4, 2020 16:24
The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (40,000) Forty Thousand Saudi Riyals on Fawaz Abdulaziz Al-Hokair Co. due to its violation of paragraph (a) of Article (61) of the Rules on the Offer of Securities and Continuing Obligations, and subparagraph (5) of paragraph (a) of the Part “General Instructions” of the Instructions for Companies Announcements. Where the Company has disclosed incorrect information in its announcement published on the Saudi Stock Exchange's (Tadawul) website on 25/08/2020G, regarding its interim financial results for the period ending on 30/06/2020G, and in its two corrective announcements dated 10/09/2020 and dated 14/09/2020. Which was corrected by the company’s announcements published on Tadawul's website on 27/08/2020G and on 16/09/2020G.