Imposition of a Fine on Saudi Cable Company, due to the violation of procedures and instructions related to listed companies with accumulated losses reaching 20% or more of their share capital.

Monday, December 31, 2018 at 4:19 PM

Mon Dec 31, 2018 16:19

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (10,000) ten thousand Saudi Riyals on Saudi Cable Company due to the violation of paragraph (a) of Article (5) of procedures and instructions related to listed companies with accumulated losses reaching 20% or more of their share capital. The Company was late in disclosing to the public when the accumulated losses reached 50% of the share capital.