Imposition of a penalty

The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on the Trade Union Cooperative Insurance Company due to its violation of clause (A) of Article (46) of the Capital Market Law and Article (25) of the Listing Rules.

The company failed to inform CMA and failed to announce obtaining the final approval from the Saudi Arabian Monetary Agency (SAMA) to transfer the insurance portfolio to the company.