Imposition of a penalty on Gulf Union Cooperative Insurance Company

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 10,000 (Ten Thousand Saudi Riyals) on the Gulf Union Cooperative Insurance Company due to its violation of clause (B) of Article (40) of the Listing Rules. The company was late to inform the public about its preliminary financial results for the period ending on 31/12/2013. The company announced it only less than two hours before the market opens on 21/01/2014.

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Imposition of a penalty on Gulf Union Cooperative Insurance Company