Imposition of a Penalty on Tabuk Cement Co.

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 100,000 (One Hundred Thousand Saudi Riyals) on Tabuk Cement Co. due to its violation of clause (B) of the General Instructions that must be taken into Account by Companies when Publishing its Announcements and clause (B) of the Listing Rules. The company failed to inform CMA and the public of the new developments on the previous essential development that was announced on Tadawul website on 3/6/2013. The announcement was to sign an agreement to establish a new clinker line with its affiliate energy station. The company failed to announce that the Ministry of Petroleum and Mineral Resources refused to provide the fuel needed for the new production line of the company. This was later announced on 11/6/2013.