Imposition of a Penalty on Southern Province Cement Co.

​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 Southern Province Cement 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, that was published on Tadwul’s website on 14/1/2014,  all the reasons for the improvement in the results of  the fourth quarter of 2013 compared to the previous quarter of the same year.