Imposition of a Fine on Jarir Marketing Co.

​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 Jarir Marketing Co.due to its violation of paragraph (A) of Article (46) of the Capital Market Law and paragraph (A) of Article (41) of the Listing Rules. The company failed to inform CMA and the public about the funding provided to its subsidiary Jarir Egypt Financing Leasing Company (related party). The company mentioned in its announcement on the Saudi Stoke Exchange (Tadawul)'s website on 19/10/2015 that the increase in the capital of Jarir Egypt Financing Leasing Company from EGP 500,000 to EGP 80,000,000 will be financed from the same finance that Jarir deserved to that subsidiary.