Imposition of a Fine on SABB Takaful Co., due to the Violation of the Rules on the Offer of Securities and Continuing Obligations.
Monday, January 27, 2020 at 4:00 PM
Mon Jan 27, 2020 16:00
The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (40,000) Forty Thousand Saudi Riyals on SABB Takaful Co. due to its violation of paragraph (5) of Article (63) of the Rules on the Offer of Securities and Continuing Obligations. Where the Company did not, immediately and without delay, disclose to the Authority and the public the resignation of its board member Mr. Ian Keith Moore on 15/11/2019, as the company did not disclose that until 21/11/2019.