​The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 40.000 (Forty Thousand Saudi Riyals) on Saudi Ceramic Co. due to its violation of clause (A) of Article (40) of the Listing Rules and clause (8) of the  Instructions for companies’ Announcements regarding their financial results. The company’s announcement regarding its preliminary financial results for the fourth quarter of 2013 was not clear as the company did not mention all the reasons affecting the increase in the Net profit compared to the previous quarter of the same year. It also mentioned incorrect information about the reason for the increase in the Net profit during the current period of 2013 compared to the same period on the previous year 2012. In addition, the company’s announcement regarding its preliminary financial results for the first quarter of 2014 was not clear. It did not mention all the reasons affecting the increase in the Net profit of the first quarter of 2014 compared to the same quarter of last year.