Announcement issued by the CMA

The CMA announces that it has imposed a penalty of SR 100,000 on Aldrees Petroleum and Transport Services Company for violating article (45/C) which states that “all information and data described in paragraphs (a-1, 2,3) and (b.3) shall be deemed confidential. Before providing and disclosing such information and data to the CMA, the issuing company shall be prohibited from disclosing such information to parties not bound by a confidentiality obligation and an obligation to protect such information”.  The news about the company’s intention to increase its capital by granting one share to every four shares and distributing dividends on the basis of one-and-half Riyal for each share was leaked on 4/1/2008, before providing and disclosing such information to the CMA. The same news was later announced by that company on 21/1/2008.