Imposition of a penalty

The Capital Market Authority announces the issuance of a CMA Board resolution numbered (9-19-2011) and dated 03/07/1432H corresponding to 5/06/2011 to impose a penalty  of SR 50.000 ( Fifty Thousand Saudi Riyals)  on the Saudi Telecom Company due to its violation of clause (A) of Article (46) of the Capital Market Law, clause (A) of Article (25) of the Listing Rules and Article (8) of the General Instructions that must be taken into Account by Companies when Publishing its Announcements. The company delayed informing CMA and the public that the Ministry of Communication and Technology in the Syrian Arab Republic has informed STC that it postponed the date of the financial bid on the third mobile carrier license.