Imposition of a Penalty on Saudi Pharmaceutical Indust. and Med. Appliances Corp.

​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 Saudi Pharmaceutical Indust. and Med. Appliances Corp.  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 did not include in its announcement on the Saudi Stock Exchange (Tadawul)’s website on 15/04/2014 about the preliminary financial results for the period ending on 31/03/2014  all the reasons for the Net Profit increase in this quarter of 2014 compared to the previous quarter.