​As part of the Capital Market Authority ("CMA") and the Saudi Arabian Monetary Authority ("SAMA") joint coordination and as per SAMA's supervision over regulatory aspects on a number of listed companies on the Exchange, the CMA would like to announce that it has received a notification from SAMA regarding a suspicion of an insider trading activities carried out by a number of persons; who are: (Ibrahim bin Mohamed bin Ibrahim bin Duhaim, Ahmed bin Abdullah bin Hamad Alothman, Anas bin Saleh bin Ibrahim Alamoud,  Abdulaziz bin Ali bin Mohamed Alanzan and Odai bin Badir bin Mohamed Albadir).

Accordingly, the CMA has completed the necessary procedures related to the aforementioned suspicion and referred the suspects to the Public Prosecution as it falls under their jurisdiction, for suspecting an insider trading on the shares of a number of Insurance Sector Companies which are supervised by SAMA; as following: (Malath Cooperative Insurance & Reinsurance Co., Alinma Tokio Marine Co., Al Sagr Company for Cooperative Insurance,  AlAhli Takaful Co., Al Rajhi Co. for Cooperative Insurance, Walaa Cooperative Insurance Co., Arabian Shield Cooperative Insurance Co., Allied Cooperative Insurance Group, Trade Union Cooperative Insurance Co, Buruj Cooperative Insurance Co. and Gulf Union Cooperative Insurance Co.) during the period from 5/1/2015G until 18/1/2017G.

The Public Prosecution filed a lawsuit against these persons with the Committee for the Resolution of Securities Disputes, and the Appeal Committee for the Resolution of Securities Disputes issued its final decisions convicting them for the violation of paragraph (a) of Article 50 of the Capital Market Law and paragraph (a) of Article 6 of the Market Conduct Regulations, and imposing a number of sanctions on them as the details followed:

FIRST: Imposing fines on them amounting (190,000) One Hundred Ninety Thousand Saudi Riyals for violating.

SECOND: Obliging them to pay (182,208.85) One Hundred Eighty Two Thousand Two Hundred Eight Saudi Riyals and Eighty Five Halalas to the Capital Market Authority's account, for the illegal gains resulted from these violations.

THIRD: Prohibiting them from trading by buying shares of the companies listed on the Exchange for their own accounts or in favor of others, for a period of one year. Excluded from that, trading through investment funds by the Authorised Persons.

The Capital Market Authority affirms on its devotion to prevent any violations of the Capital Market Law, and emphasizes on the continuous and permanent coordination between the CMA and SAMA to take all the legal actions against who is proved to be a violator of the Laws.