The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 10,000 (Ten Thousand Saudi Riyals) on Al-Babtain Power & Telecommunications Co. due to its violation of clause (9) of the basic elements that must be met in companies’ announcements of financial results from the Instructions for the Announcements of Listed Companies in the Saudi Stock Exchange.
The company failed to disclose the Emphasis of matter paragraph mentioned in the auditor’s report as part of the company’s announcement of its interim consolidated financial results for the period ending on 31/12/2012 on the Saudi Stock Exchange website “Tadawul” on 21/01/2013.