Saudi market regulator imposes fines on 9 listed companies including Al Rajhi Bank

Saudi Arabia’s Capital Market Authority, the market regulator, imposed fines on 9 listed companies as follows:

1. Al Rajhi Bank was fined SAR 40,000 for not updating its electronic disclosure form.

1. Saudi Advanced industries Company was fined SAR 40, 000 for not publishing its shareholders’ invitation to attend the GA meeting until two hours before the market opened on 23/3/2014.

1. Jazan Development Company was fined SAR 10, 000 for not disclosing related-party transactions on the GA’s Agenda.

1. Al Marai Company was fined SAR 50,000 and SAR 100,000 for publishing incorrect information regarding its poultry expansion project and the delay in publishing the new changes to the same project until two hours before the market opened on 8/7/2013.

1. Saudi Airlines Catering Company was fined SAR 20,000 for not disclosing related-party transactions on the GA’s Agenda.

1. Saudi Printing and Packaging Company was fined SAR 10,000 for not publishing its shareholders’ invitation to attend the GA meeting until two hours before the market opened on 11/2/2014.