Imposition of a Fine on Al Jouf Cement Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 20,000 (Twenty Thousand Saudi Riyals) on Al Jouf Cement Co. due to its violation of clause (A) of Article (40) of the Listing Rules and sub-clause (2) and sub-clause (6) of clause (A) of the General Instructions that must be taken into Account by Companies when publishing their Announcements. The company failed to disclose, in its announcement on 10/05/2015, about the amount of the value of the agreement to sell (200) thousand  tons (clinker) to Arabian Cement Company, which constitute 7% of the total estimated company sales in 2015.