The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals) on the Saudi Telecom Company (STC) due to it’s violation of clause (F) of Article (9) of the Corporate Governance Regulations. The Board of Directors’ report ,attached with the annual financial statements for the fiscal year 2009, did not include the imposition of a penalty by CMA on 28/06/2009.
