​Reference to the announcement of the Mediterranean & Gulf Insurance and Reinsurance (MEDGULF) on 13/5/1439H corresponding to 30/1/2018 on the Saudi Stock Exchange (Tadawul) website regarding the letter that the company received from SAMA that it prohibit the company from issuing or renewing any insurance policy starting from 13/5/1439H corresponding to 30/1/2018, as well as compelling the company to increase its capital to the extent necessary to address the low solvency margin, and complete the capital increase processes before the date 17/11/1439H corresponding to 30/7/2018, and the company expected this prohibition to have a negative impact on the company's financial statements.

And since this prohibition may have a negative impact on the company's financial statements according to the announcement mentioned above, The Capital Market Authority (CMA) announces that it will evaluate the expected negative impact on the company's financial situation  in the coming period in accordance with their financial performance and financial results, based on that the trading of the Company's securities on the exchange may be suspended or canceled, if the CMA considers that the company doesn't have a sufficient level of operations or sufficient assets to warrant the continued trading of its securities on the exchange based on subparagraph (4) from paragraph (A) of article (35) from the listing rules.

This announcement is to emphasis the CMA role in regulating and monitoring companies listed in The Saudi Stock Exchange and to protect the rights of all participants dealing in it.