Imposition of a Fine on National Shipping Company of Saudi Arabia

​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 National Shipping Company of Saudi Arabia due to its violation of clause (A) of Article (46) of the Capital Market Law and clause (A) of Article (41) of the Listing Rules. The company failed to inform CMA and the public in a timely manner about the Board's approval, in its meeting held on 23/02/2015, to issue long term Sukuk in an amount that does not exceed 3,93 Billion Riyals.  It was later announced on 04/03/2015.