Imposition of a Fine on Saudi Arabian Amiantit Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 50,000 ( Fifty Thousand Saudi Riyals) on Saudi Arabian Amiantit Co.due to its violation of clause (B) of Article (40) of the Listing Rules. The company was late to disclose to the public about the results of interim financial results for the period ending on 31/12/2015 (twelve months) at the specified time at least two hours before the market open on 20/01/2016. The company also violated clause (9) of the Instructions for companies’ Announcements regarding their financial results. It failed to mention in its announcement the Emphasis of matter mentioned in the external auditor's report.