• The Company’s ability to continue its operations is not subject to doubt.
The external auditor’s reservation over the financial statements: • The external auditor has no reservations over the Company’s financial statements.
The Board’s of Directors recommendation to replace the external auditor prior to the end of the agreed term: • The Board of Directors did not recommend replacing the external auditor prior to the end of the agreed term.
Penalties, sanctions, or precautionary attachment imposed on the Company by the regulatory, supervisory, or judicial authorities: • A penalty of SAR 10,000 was imposed on the Company for violating Article (40/B) of Registration and Listing Rules as the Company was late in announcing on Tadawul website before 2 hours at least from the trading period the preliminary financial results of the fiscal period ending on December 31, 2013. • A penalty of SAR 10,000 was imposed on the Company for violating Article (5/I) of the basic elements to be available in the released financial results of the companies under the instructions of the announcements made by the shareholding companies listed in the Saudi Securities Market pursuant to Article (59/B) of the Financial Market Regulation. The violation was due to the fact that the announcement did not mention the amount of profit (loss) per share during the current period and compare it with the same period of the previous year.
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Annual Report 2014
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