The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 30.000 (Thirty Thousand Saudi Riyals) on Arabia Insurance Cooperative Company due to its violation of clause (B) of Article (40) of the Listing Rules.
The company  was late to inform the public about the results of the ordinary general assembly held on 19/12/2013 which included the approval to elect the company’s Board members for the third round. It was announced only less than two hours before the market opens on 22/12/2013.