Imposition of a Penalty on Halwani Bros

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 30.000 (Thirty Thousand Saudi Riyals) on Halwani Bros. due to its violation of clause (A) of Article (40) of the Listing Rules and clause (8) of the  Instructions for companies’ Announcements regarding their financial results. The company did not mention in its preliminary financial results announcement for the period ending on 30/06/2014 all the reasons affecting the decrease in the Net profit compared to the same period of last year.