​The Capital Market Authority announces that the Appeal Committee for the Resolution of Securities Disputes has issued its decision dated 26/1/1439H corresponding to 16/10/2017G on the lawsuit filed by The Public Prosecution against Ahmad bin Hasan bin Ahmad Fitaihi and Fitaihi Holding Group (which was referred from the Capital Market Authority). The decision convicted Ahmad bin Hasan bin Ahmad Fitaihi of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations when trading the shares of (United Wire Factories Co. and National Gas and Industrialization Co.) during the period from 16/1/2013G until 18/3/2013G. These practices constituted manipulation and fraud and created a misleading and incorrect impression about the security of the mentioned companies. The Appeal Committee's decision imposed a fine on him in the amount of (70,000) Seventy Thousand Riyals for these violations, and obliging Fitaihi Holding Group to pay (283,877.60) Two Hundred Eighty Three Thousand, Eight Hundred and Seventy Seven Riyals and Sixty Halalas to the Capital Market Authority’s account for the illegal gains in its investment portfolio.

The Capital Market Authority insures its devotion to apply the Capital Market Law and its Implementing Regulations as well as protect the investors from illegal acts, and whoever is affected by these acts can file a suit for compensation to the committee as per Article (57) of the Capital Market Law, this must be preceded by a complaint filed to the CMA.

(the security and the date on which the suspected trading occurred)