Imposition of a Fine on Umm Al-Qura Cement Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a Fine of SR 10,000 (Ten Thousand Saudi Riyals) on  Umm Al-Qura 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 16/04/2015 about its preliminary financial results for the period ending on 31/03/2015. It mentioned that the Net Loss for the current quarter reached (3,565,471) Saudi Riyals with a (%4.07) decrease from the last quarter and that the Net Loss for the share reached (0.06) Saudi Riyals which was corrected in a corrective announcement by the company in which it explained that the Net Loss did not decrease but increased by (%26.91) from the last quarter and it reached (4,716,777) Saudi Riyals and that the Net Loss for the share reached (0.09) Saudi Riyals.