The Capital Market Authority announces the imposition of a penalty of SR 100,000 (One Hundred Thousand Saudi Riyals)  on Qassim Agriculture Co. due to it’s violation of clause (E) of Article (12) of the Corporate Governance Regulations and clause (A) of Article (14) of the Corporate Governance Regulations. The company did not comply with the sufficient number of independant members when forming its Board of directors as it was mentioned in the board of directors report attached with the annual financial statements for the fiscal year ending on 31/12/2011. The company also failed to comply with the specified number of members in the Audit Committee and they did not include any specialist in financial and accounting matters.