The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 50,000 (Fifty Thousand Saudi Riyals) on Saudi Kayan Petrochemical Company due to its violation of sub-clause (4) of clause (A) of the General Instructions to be taken into account by companies in their announcements  from the  Instructions for the Announcements of Listed Companies in the Saudi Stock Exchange. The company did not disclose the expected financial empact from stopping some of its production units for maintenance and it did not mention the reason for that in its announcement on the Saudi Stock Exchange website (Tadawul) on 26/01/2013.
Note that the company had previously violated the discloser requirements applicable on all listed companies.