Imposing of Penalty by CMA

The CMA announces issuance of CMA Board regarding imposing a penalty of SR (50.000) on Solidarity Company for violation of clause (a) of Article Nine of the Corporate Governance Regulations.  No mentioning is made in it’s Board of Directors ,report attached with the company’s financial statements for the fiscal year ending on 31/12/2011,  as to the governance rules that are not applied by the company and the reasons for not applying clause (d) of  Article Ten and clause (b) of Article Fifteen of the Corporate Governance Regulations.