Imposition of a Fine on Saudi Cable Co., due to the Violation of Paragraph (a) of Article (48) and Paragraph (a) of Article (49) of the Regulatory Rules and Procedures Issued Pursuant to the Companies Law Relating to Listed Joint Stock Companies

Wednesday, November 28, 2018 at 3:28 PM

Wed Nov 28, 2018 15:28

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (50,000) fifty thousand Saudi Riyals on Saudi Cable Co. due to the violation of paragraph (a) of Article (48) of the the Regulatory Rules and Procedures Issued Pursuant to the Companies Law Relating to Listed Joint Stock Companies. The Company has accepted a number of proxy letters that are not in the form set out in Annes (1) of these Regulatory Rules. In addition to imposing a fine of (50,000) fifty thousand Saudi Riyals on Saudi Cable Co. due to the violation of paragraph (a) of Article (49) of these Regulatory Rules, The Company has accepted a number of proxy letters that violate the attestation terms.