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 paragraph (A) of Article (40) of the Listing Rules and paragraph (8) of the Instructions for companies’ Announcements regarding their financial results. The company disclosed incorrect and unclear information  about the Net Profit and Operational Profit for the same period of the previous year in its announcement on the Saudi Stock Exchange (Tadawul)’s website on 03/11/2015 regarding its interim financial  results for the period ending on 30/12/1436H (twelve months). It also did not mention the reasons behind the decrease in the Net profit of the current quarter compared to the same quarter of the previous year and the current quarter with the previous one.