Imposition of a Penalty on United Cooperative Assurance Co

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 United Cooperative Assurance Co due to its violation of clause (A) of Article (46) of the Capital Market Law and sub-clause (1) of clause (B) of Article (46) of the Listing Rules. The company failed to inform CMA and the public in a timely manner about its request from the Saudi Arabian Monetary Agency to increase its capital by way of rights issue worth (140,000,000) One Hundred and Fortty Million Saudi Riyals.

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Imposition of a Penalty on United Cooperative Assurance Co