Imposition of a penalty

The Capital Market Authority announces imposition of a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on the Saudi Arabian Cooperative Insurance Company (SAICO) due to its violation of Article (25) of the Listing Rules.

The company failed to report the change in the formation of its senior management as soon as it occurred. However, it was announced on 29/08/2010.