Imposition of a Fine on Tabuk Cement Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a Fine of SR 20,000 (Twenty Thousand Saudi Riyals) on  Tabuk Cement Co. due to its violation of clause (A) of Article (40) of the Listing Rules. The company disclosed incorrect information in its announcement on 25/02/2015 about its annual financial results ending on 31/12/2014. It mentioned that the reason for the Net Loss in 2014 compared to 2013 is due to the decrease in the other Net income. The company corrected the information in a corrective announcement on 01/03/2015. It explained that the reason behind the decrease in the Net Profit is due to the presence of a an amount of ( Six Million and Five Hundred Thousand Saudi Riyals) dedicated to the project of Dhiya’a Company for Precast Concrete.