The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 40,000 (Forty Thousand Saudi Riyals) on the National Gypsum Company 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. The company disclosed incorrect information in its announcement published on the Saudi Stock Exchange (Tadawul)’s website on 19/01/2014 regarding its preliminary financial results for the period ending on 31/12/2013 which is related to generating net loss on the fourth quarter of 2013 where the truth is that the company generated net profit. The company also did not mention all the reasons and material effects affecting the difference in its financial results.
