The Capital Market Authority (CMA) has imposed a penalty of SAR 70,000 on Al Jouf Cement Co., for delaying report on its board of directors.
The company was fined due to its violation of clause A of Article No. 46 of the Capital Market Law, clause B of Article No. 40, clause A and sub-clause 5 of clause B of Article No. 41 and sub-clause 2 of clause B of Article No. 46 of the Listing Rules.
The company was late to inform the CMA and the public about the essential developments and decisions taken at the board meeting, held on the 3rd of March, 2013.
It was later announced on Tadawul website on 5th March, 2013.
Source:
http://www.uaecement.com/newsDetail.aspx?id=879
