Imposition of a Fine on Jarir Marketing Co, Due to the Violation of Paragraph (a) of Article (61) of the Rules on the Offer of Securities and Continuing Obligations

Tuesday, February 05, 2019 at 4:13 PM

Tue Feb 5, 2019 16:13

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (20,000) Twenty Thousand Saudi Riyals on Jarir Marketing Co. duo to its violation of paragraph (a) of Article (61) of the Rules on the Offer of Securities and Continuing Obligations. Where the Company has disclosed inaccurate information in its announcement published on the Saudi Stock Exchange (Tadawul)'s website on 04-11-2018 regarding its interim financial results for the period ending on 30-09-2018. The company stated in its announcement that all the figures are in "Thousands" Saudi Riyals, whereas it should be in "Millions" Saudi Riyals. Also the company has not published any corrective announcement.