Imposition of a Fine on Ash-Sharqiyah Development Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of 40,000 Forty Thousand Riyals on Ash-Sharqiyah Development Co. due to its violation of paragraph (A) of Article (46) of the Capital Market Law and paragraph (A) of Article (41) of the Listing Rules, the company failed to inform CMA and the public about the delay in the supply of milk, as the company announced on 23/12/2015 that it has signed a supply contract for fresh milk with a total value of 28,500,000  Twenty Eight Million and Five Hundred Thousand Riyals for two years starting from 2016/01/01, though the milk was not exported until the beginning of April.