The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals) on the Middle East Specialized Cables Company (MESC) due to it’s violation of clause (A) of Article (9) of the Corporate Governance Regulations. The Board of Directors’ annual report for the year 2009 does not reflect the applied provisions of the Corporate Governance Regulations as well as the non-applied provisions and the reasons for that .
