Imposition of a Fine on Saudia Dairy and Foodstuff Co, due to the Violation of the Regulatory Rules and Procedures Issued Pursuant to the Companies Law Relating to Listed Joint Stock Companies

Monday, May 06, 2019 at 3:29 PM

Mon May 6, 2019 15:29

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (100,000) One hundred Thousand Saudi Riyals on Saudia Dairy and Foodstuff Co. due to its violation of paragraphs (5) and (8) of Article (12) of the Regulatory Rules And Procedures Issued Pursuant to the Companies Law Relating to Listed Joint Stock Companies. Where the Company has bought-back on 19/02/2019 a number of (497,500) shares from the total of its shares exceeding (10)% of the buy-back amount approved by the extraordinary general assembly to effected in one  trading day. Beside carrying the transaction out through a private transaction.