The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of SR 40,000 (Forty Thousand Saudi Riyals) on Middle East Specialized Cables Co. due to its violation of paragraph (A) of Article (46) of the Capital Market Law and paragraph (A) of Article (41) of the Listing Rules. The company failed to disclose to CMA and the public in a timely manner about appointing a new CEO Ayman Ibrahim Almasri on 23/12/2015. It was later announced on 24/12/2015.
