The Saudi Arabia Capital Markets Authority (CMA) issued a board resolution imposing a total fine of SAR 40,000 on Anaam International Holding Group for violating Article 78(A) of the Rules on the Offer of Securities and Continuing Obligations by disclosing incorrect information in market announcements. The violation relates to two announcements published on the Saudi Exchange (Tadawul) website: a 28 March 2024 disclosure on the company’s annual financial results for the period ending 31 December 2023, and a 19 May 2024 disclosure on its interim financial results for the period ending 31 March 2024. The relevant rules were amended by CMA Board Resolution No. 3-6-2024 dated 17 January 2024.
Saudi Arabia Capital Markets Authority 2025-03-03
Saudi Arabia Capital Markets Authority fines Anaam International Holding Group SAR 40,000 for incorrect financial results disclosures
The Saudi Arabia Capital Markets Authority fined Anaam International Holding Group SAR 40,000 for breaching Article 78(A) of the Rules on the Offer of Securities and Continuing Obligations by providing incorrect information in market announcements. The violations pertain to disclosures on the Saudi Exchange website regarding the company's annual and interim financial results.