Imposition of a Fine on United Cooperative Assurance Co.

2018-09-12 15:55:25

The Capital Market Authority announces the issuance of the CMA Board resolution to impose a fine of (30,000) thirty thousand Saudi Riyals on United Cooperative Assurance Co. due to its violation of paragraph (a) of article (40) of the Listing Rules and the Capital Market Authority's Board resolution number (1-27-2008) dated 10/08/1429 H corresponding to 11/08/2008 G, where the Company has failed to disclose the related parties transactions in its financial statements during the fiscal years 2014, 2015 and 2016.