​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 90,000 (Ninety Thousand Saudi Riyals) on Dallah Healthcare Holding Company due to its violation of clause (A) of Article (40) of the Listing Rules and sub-clause (5) of clause (A) of the General Instructions that must be taken into Account by Companies when publishing their Announcements and sub-clauses (2) and (3) of sub-clause (B) of clause (6) from the Instructions for Companies’ Announcements related to changes in capital. The company failed to mention, in its announcement on Tadawul’s website on 27/01/2014, all the deviations in using the proceeds than what was previously disclosed in the prospectus. It also disclosed incorrect information in regard to the value of a land for a hospital in the west of Riyadh and failed to disclose how much of the construction work was completed.

The company also violated clause (B) of Article (40) if the Listing Rules. It was late to inform the public about the results of the ordinary general assembly meeting which included substantial information including the approval of distributing dividends for 2013 and signing an agreement to buy all the shares in Bagedo & Dr. Erfan General Hospital Co. LLC and increase its capital. It was later announced only less than two hours before the market opens on 01/05/2014 and 01/10/2014.