Imposition of a Fine on Tihama Advertising and Public Relations Co. due to the Violation of the Listing Rules and the Instructions for Companies Announcements and the Rules on the Offer of Securities and Continuing Obligations

​Capital Market Authority (CMA) announces the issuance of a CMA's Board resolution to Impose a fine of (80,000) Eighty Thousand Saudi Riyals on Tihama Advertising and Public Relations Co., due to its violation of Article (30) of the Listing Rules, and paragraph (d) of the Part “General Instructions" of the Instructions for Companies announcements, and paragraph (6) of Article (63) of the Rules on the Offer of Securities and Continuing Obligations Amended by the CMA's Board Resolution Number (2018-45-3) Dated 07/08/1439H., Corresponding to 23/04/2018G. and paragraph (26) of Article (62) of the Rules on the Offer of Securities and Continuing Obligations, Where the Company did not disclose of two new material developments regarding the previously announced material development on the Saudi Stock Exchange (Tadawul)'s website on 21/03/2017G. as soon as possible and before the trading period following the occurrence of the relevant events, where a judgment was issued by the Commercial Court in Riyadh on 29/08/1439H., Corresponding to 15/05/2018G. and a judgment was issued by the Court of Appeal in Riyadh on 09/04/1440H., Corresponding to 16/12/2018G. and the company did not disclose that on the Saudi Stock Exchange (Tadawul)'s website until 10/05/2021G. In addition, the company did not disclose to the Authority (CMA) and the public, immediately and without delay, of a Lawsuit was filed against it before the General Court in Riyadh on 06/01/1441H., Corresponding to 05/09/2019G. And about a judgment was issued against it by the General Court on 07/06/1442H., Corresponding to 20/01/2021G. Also about a judgment was issued by the Court of Appeal on 07/10/1442H., Corresponding to 19/05/2021G. and the company did not disclose that on the Saudi Stock Exchange (Tadawul)'s website until to date.