Imposition of a Fine on Jabal Omar Development 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 Jabal Omar Development Co. due to its violation of clause (A) of Article (40) of the Listing Rules. The company disclosed incorrect information in its announcement on the Saudi Stock Exchange (Tadawul)’s website on 10/05/2015 regarding its interim financial results for the period ending on 30/06/2015 (Six Months). The information was in regard to operational profits for the second quarter compared to the previous one and the decrease in the profits of the second quarter compared to the previous which the company corrected on its announcement published on the same day.