Imposition of a Fine on Saudi Paper Manufacturing Co.

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (60,000) Sixty Thousand Saudi Riyals on Saudi Paper Manufacturing Co. due to its violation of paragraph (A) of Article (46) of the Capital Market Law and paragraph (A) and subparagraph (5) of paragraph (B) of Article (41) of the Listing Rules, The company failed to inform CMA and the public about the approval by its Board of Directors dated 16/06/2016 of the resignation of a member of the Board of Directors and the approval of the Board of Directors by circulation dated 17/06/2016 of the appointment of new members of the Board of Directors.The company did not announce both events until 19/06/2016, after the market closes.

Published on the same date

An Announcement from the Capital Market Authority regarding the decision issued by The Appeal Committee for the Resolution of Securities Disputes to convict a violator of the Capital Market Law and its implementing regulations

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Imposition of a Fine on Saudi Paper Manufacturing Co.