18
Nov
09:46 AM
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Sukuk & Bonds
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MT30
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7,927.95
1,133.46
4,717.55
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Imposition of a Fine on Saudi Enaya Cooperative Insurance Co., due to the Violation of the Rules on the Offer of Securities and Continuing Obligations.

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a fine of (20,000) Twenty Thousand Saudi Riyals on Saudi Enaya Cooperative Insurance Co. due to its violation of paragraph  (10) Article (63) of the Rules on the Offer of Securities and Continuing Obligations. Where the Company did not disclose to the public, immediately and without delay, on 27/06/2019 of being awarded the contract with Dr. Suliman Fakeeh hospital, with an amount greater than 5% of the company’s gross revenues according to its annual financial statement for the period ending on 31/12/2018, as the company did not make such disclosure until 11/07/2019.
 

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