Saudi Arabia: Al Jouf Cement faces penalty

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Saudi Arabia: Al Jouf Cement faces penalty

14 December, 2020

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The company penalized for incorrect information in its announcement

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Saudi Arabia-based Al Jouf Cement levied a penalty of ZAR 20,000, reports Mubasher.

The company is penalized for incoorect information in its announcement regarding the amount of sales of clinker at 200,000 tons of clinker, which constitutes seven percent of the total sales of the company's estimates in 2015.

The company was fined under paragraph (a) of Article forty of the Listing Rules and subparagraphs (2) and (6) of paragraph (a ) of the General instructions that company must consider while publishing advertisements.

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