The Securities Depository Center Company (Edaa) Announces Implementing a Corporate Action on Arabian Pipes Co. Securities

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• The Securities Depository Center Company (Edaa) Announces Implementing a Corporate Action on Arabian Pipes Co. Securities

  The Securities Depository Center Company (Edaa) announces implementing securities quantity Increase for Arabian Pipes Co. on the Center’s Accounts of eligible securities’ holders today  09/01/1446H, corresponding to 15/07/2024G.

  15/07/2024 08:08:43

• icting 3 Violators of the Capital Market Law and its Implementing Regulations in Various Cases and Fining them SAR 180K

  The Appeal Committee for Resolution of Securities Disputes (ACRSD) issued three final decisions against three convicted persons for violating Article (31) of the Capital Market Law (CML) and Article (5) of the Securities Business Regulations and imposed a fine of SAR 180,000. According to the Capital Market Authority (CMA), ACRSD issued its first final decision convicting Turki bin Musa’ad bin Ali Almubarak, for practicing securities business, represented in the activity of “Dealing as an agent”, by receiving sums of money from several persons and investing it for them in his portfolios in return for a percentage of profits, without obtaining a license from the CMA. He was fined SAR 100,000. In the second final decision, ACRSD convicted Esam bin Nassar bin Mnawer Alazmi of violating the Capital Market Law and its Implementing Regulations, imposing a fine of SAR 70,000. He participated in securities business, represented in the activity of “Advising”, without obtaining a license from the CMA, by receiving money from investors and transferring it to an unauthorized company under the name of (The Share السهم) located outside the Kingdom that provides advice to others in the Saudi Exchange, in return for receiving a percentage of the total collected money. ACRSD further convicted Maha bent Awaadh bin Sa’eed Alotaibi in the third final decision and imposed a fine upon her amounting to SAR 10,000, for practicing securities business, represented in the activity of “Advising”, without obtaining a license from the CMA, by receiving subscription money for the purpose of providing recommendations regarding the shares of listed companies. The CMA explained that the three final decisions of ACRSD came as a result of joint coordination and cooperation between the CMA and relevant concerned authorities, and in light of the public penal lawsuit filed by the Public Prosecution, referred to it by the CMA, against the three investors for violating the Capital Market Law and its Implementing Regulations. The CMA stresses the importance of investors' confidence in the capital market for its growth and prosperity. The CMA continuously monitors any violating behaviors, 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 for all categories of investors and safe from unfair or unsound practices or that involve fraud, cheating, misleading, deception or manipulation. From its side, the General Secretariat of the Committee for Resolution of Securities Disputes (GS-CRSD) announced that any person who has entered into an agreement or contract with the three convicted persons in relation to these violations is entitled to file a claim (as individual or class action) with the Committee for Resolution of Securities Disputes (CRSD) to request the rescission of the agreement or contract and the recovery of any money or other property paid or transferred under the agreement or contract, as per Article (60/b) of the Capital Market Law, provided that such claim is preceded by a complaint filed with the CMA on this regard, via the following link: (File Complaint Link). The GS-CRSD will announce to the public on its website in case of registering any class action in order to enable the rest of the investors affected by such violations to apply to the CRSD to join the class action. The CMA indicated that the GS-CRSD announced to the public on its website the identity of the violators in the three decisions after the violations and sanctions were proven and the final decisions were issued by ACRSD. They can be viewed through the following links: Announcement from the General Secretariat of the Committees for Resolution of Securities Disputes (First Decision) click here Announcement from the General Secretariat of the Committees for Resolution of Securities Disputes (Second Decision) click here Announcement from the General Secretariat of the Committees for Resolution of Securities Disputes (Third Decision) click here

  11/07/2024 17:07:33

• The Capital Market Authority Licenses Financial Contents to Conduct Arranging and Advising Activities in the Securities Business and its Completion of the Commencements of Business Requirements

  In accordance to the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its Implementing Regulations, the Capital Market Authority announces that Financial Contents has completed the commencements of business requirements to conduct Arranging and Advising Activities in the Securities Business licensed as per CMA resolution dated 17/07/1445H corresponding to 29/01/2024G.

  11/07/2024 17:00:43

• The Saudi Exchange announces the beginning of the subscription period and tradable rights trading for AYYAN Investment Co.

  The Saudi Exchange announces the beginning of the subscription period and tradable rights trading for AYYAN Investment Co. which starts on Sunday 14/07/2024. The trading period shall end on Sunday 21/07/2024, while subscription will remain until Wednesday 24/07/2024. To view the tradable right's intrinsic value and the daily tradable rights fluctuation limits after the end of the trading session Click Here. It is important to note that the fluctuation limits for trading tradable rights are different from the company's fluctuation limits of share price. For more information about tradable rights Click Here.

  11/07/2024 15:48:57

• The Saudi Exchange announces that the fluctuation limits for Arabian Pipes Co. will be based on a share price of SAR 133.40

  Arabian Pipes Co. EGM held on Wednesday G2024/07/10 has approved the capital increase via bonus shares. Thus, the fluctuation limits on Thursday G2024/07/11 for Arabian Pipes Co. will be based on a share price of SAR 133.40 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Monday G2024/07/15.

  11/07/2024 08:37:57