Imposition of a Fine on National Gas and Industrialization Co.

​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 40,000 (Forty Thousand Saudi Riyals) on National Gas and Industrialization 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, in its announcement on the Saudi Stock Exchange (Tadawul)’s website on 19/01/2016,  incorrect reasons for the Net Profit increase in  its interim financial  results for the period ending on 31/12/2015 (twelve months) when comparing the Net Profit of the current quarter of 2015 with the similar quarter of the previous year and when comparing the Net Profit of the current quarter of 2015 with the third quarter of 2015. The company corrected its announcement later that day.