Announcement issued by the CMA

The CMA announces that it has imposed a penalty of SR 100,000 on Saudi Chemical 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 profits of SR 34 millions for Q1 2008 was leaked on 16/4/2008, before providing and disclosing such information to the CMA.