Imposition of a fine on Altayyar Travel Group

​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 Altayyar Travel Group due to its violation of clause (A) of Article (40) of the Listing Rules and sub-clause (9) of clause (B) of clause (1) from the second provision from the Instructions for Companies’ Announcements related to changes in capital. The company’s announcement on 03/02/2014 related to the Board of directors’ recommendation to increase the company’s capital through issuing shares for the specified period related to the fractions of shares resulting from distributing the bonus shares. It also disclosed incorrect information to CMA and the public about the account that would receive the transaction of the value for selling the fraction shares resulting from distributing the bonus shares.