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The Saudi Exchange announces that the fluctuation limits for Bena Steel Industries Co. will be based on a share price of SAR 36.95
Bena Steel Industries Co. EGM held on Tuesday 2024/09/17 has approved the capital increase via bonus shares. Thus, the fluctuation limits on Wednesday 2024/09/18 for Bena Steel Industries Co. will be based on a share price of SAR 36.95 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Sunday 2024/09/22.
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Capital Market Authority: Conviction of Former Board Member and Managing Director of "Thimar" Company for Violating the Companies Law and Obligating Him to Pay SAR 3.25 Million and Imprison Him for 90 Days
The Capital Market Authority (CMA) announces the issuance of the Appeal Committee for Resolution of Securities Disputes’ (ACRSD) final decision convicting an investor for violating Paragraph (b) of Article 211 of the Companies Law issued by Royal Decree No. (M/3) dated 28/01/1437 H, and imposing a fine of SAR 3.25 million on him, and imprisoning him for a period of (90) days. According to the ACRSD, the final decision was issued convicting Sari bin Ibrahim bin Abdulkarim Almayouf for using, in his former capacity as a Member of Board of Directors and Managing Director of the National Company for Agricultural Marketing (Thimar), the funds of the National Company for Agricultural Marketing (Thimar) against its interests to achieve personal goals and favoring one company with which he has interests, by transferring funds to the bank account of one establishment - which the convicted person is in a friendship and commercial relationship with the owner of such establishment - without documenting and maintaining invoices that prove such transfers, in addition to the act of such establishment when transferring portion of such amounts to one company with which the convicted person has interests, without the existence of any justification of such bank transfers. The ACRSD's decision came as a result of joint coordination and cooperation between the CMA and the relevant concerned authorities, and in light of the public penal lawsuit filed by the Public Prosecution, referred to it by the CMA, against the violator. The CMA stresses the importance of investors' confidence in the capital market for its growth and prosperity. The CMA continuously monitors any violating behaviors of the Capital Market Law, its Implementing Regulations, and the regulations enforced by the CMA, identifies the perpetrators, and processes the necessary procedures to impose deterrent penalties against them, in order to enhance the CMA's efforts aimed at creating an attractive investment environment to all categories of investors and safe from unfair or unsound practices or that involve fraud, cheating, deception or manipulation. Furthermore, any person affected by the violation, in this case, is entitled to file a compensation claim (as individual or class action) against the convicted person with the Committee for Resolution of Securities Disputes (CRSD) for the damage he/she suffered from the violation, provided that such claim is preceded by a complaint filed with the CMA on this regard, via the following link: (File Complaint). The General Secretariat of the Committee for Resolution of Securities Disputes (GS-CRSD) will announce to the public on its website in case of registering any class action in order to enable the rest of investors affected by such violations to apply to the CRSD to join the class action. For further announcement's details, kindly visit the official website of General Secretariat of the Committees for Resolutions of Securities Disputes, via the following link: Announcement from the General Secretariat of the Committees for Resolution of Securities Disputes Click Here
19/09/2024 16:22:54 -
The Capital Market Authority approves the capital increase request for Munawla Cargo Company through the issuance of bonus shares
The CMA has issued its resolution approving Munawla Cargo Company's request to increase its capital from SAR (10,000,000) to SAR (20,000,000) through issuing (1) bonus share for every (1) existing share owned by the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading day after the due date which will be determined later by the Company's board, such increase will be paid by transferring an amount of SAR (10,000,000) from “Retained earnings” account to the Company's capital. Consequently, increasing the Company's outstanding shares from (1,000,000) shares to (2,000,000) shares, by an increase of (1,000,000) shares. The extraordinary general assembly shall be held within six months from this approval date and the Company shall satisfy all regulatory requirements and applicable laws.
19/09/2024 16:16:46 -
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19/09/2024 08:32:49 -
The Capital Market Authority Announces the Approval on the Registration and Offering shares of Al Battal Factory for Chemical Industries Company in the Parallel Market
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18/09/2024 17:47:58 -
The Capital Market Authority Announces the Approval on the Registration and Offering shares of Shmoh Almadi Company in the Parallel Market
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18/09/2024 17:38:36