Imposition of a Penalty on Saudi Fisheries Co.

13/03/2014 09:37 AST

The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 60,000 (Sixty Thousand Saudi Riyals) on Saudi Fisheries Co. due to its violation of clause (A) of Article (46) of the Capital Market Law and clause (A) of Article (41) of the Listing Rules. The company failed to inform CMA and the public about its Board of directors' decision on 26/08/2013 to proceed in establishing and operating Oumg Aquatic Farm Project which its annual sales are expected to reach (90) million Saudi Riyals. It was later announced on 10/09/2013.


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