The Capital Market Authority (CMA) announces the issuance of a CMA's Board resolution to impose a fine of (20,000) Twenty Thousand Saudi Riyals on the Middle East Healthcare Co., due to its violation of paragraph (6) of Article (63) of the Rules on the Offer of Securities and Continuing Obligations Amended by the CMA's Board Resolution Number (1-104-2019) Dated 30/09/2019G, Where the Company did not disclose to the CMA and the public immediately and without delay a dispute between it and the Zakat, Tax and Customs Authority on 26/12/2020 G, regarding the objection to zakat and tax assessments for the fiscal years 2015 G through 2018 G the amount of which exceeded 5% of the Company's net assets according to it's interim, consolidated financial statements for the period ended on 30/09/2020 G – the latest reviewed interim financial statements at that time-. estimated at (156,858,311) riyals.
The Company disclosure was limited to a subsequent reference to the dispute in the notes to its consolidated annual financial statements for the year ended 31/12/2022 G.