The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 20.000 (Twenty Thousand Saudi Riyals) on Saudi Arabian Amiantit Co. due to its violation of clause (A) of Article (40) of the Listing Rules and clause (8) of the  Instructions for companies’ Announcements regarding their financial results from the Instructions for the Announcements of Listed Companies in the Saudi Stock Exchange. The company did not mention in its preliminary financial results announcement for the period ending on 31/12/2013  all the reasons affecting the increase in the Net profit of the fourth quarter of 2013 compared to the previous quarter of the same year. 
The company also violated clause (E) of the General Instructions that must be taken into Account by Companies when Publishing its Announcements from the Instructions for the Announcements of Listed Companies in the Saudi Stock Exchange. The company announced an essential development in less than two hours before the market opens on 17/03/2014 without waiting to announce it after the market is closed.