​Further to the Capital Market Authority’s announcement on its website on 12/05/1438H corresponding to 09/02/2017G regarding the issuance of the decision by The Appeal Committee for the Resolution of Securities Disputes (Final) convicting a number of the board members of Mohammad Al Mojil Group Company during its IPO stage, and some of the company’s senior executives and the company's external auditor for violating paragraph (A) of Article (49) of the Capital Market Law and Article (7) of the Market Conduct Regulations by conducting practices that created an incorrect and misleading impression regarding the value of Mohammad Al Mojil Group Company's security during the IPO stage of the company's shares. CMA has clarified in its mentioned announcement that the Appeal Committee's decision has convicted the defendants of  the violations committed during the IPO stage of the company's shares; the Committee has not considered the violations occurred after the IPO stage in relation to misleading and manipulating the company's financial statements, as such violations will be presented in a separate case filed before the Appeal Committee for the Resolution of Securities Disputes.

CMA  would like to inform investors in the Exchange that CMA has completed all necessary investigations in this regard and the lawsuit on the post IPO stage violations was filed with The Committee for the Resolution of Securities Disputes.

CMA insures its devotion to apply justice, efficiency, and transparency in securities transactions as well as protect investors from illegal acts as per its responsibilities set forth in the Capital Market Law.