The General Secretariat of Committees for Resolution of Securities Disputes announces the issuance of the Appeal Committee for the Resolution of Securities Disputes' resolution number (1596/L.S/2018) of 1440 H. dated 11/04/1440 H corresponding to 18/12/2018, in the case filed by the Public Prosecution, referred to it by the Capital Market Authority, against: Abdulmuhsen bin Muhamad bin Abdullah Alothman.

The verdict concluded with the conviction of the abovementioned individual for violating paragraph (a) of Article (50) of the Capital Market Law, and paragraph (a) of Article (6) of the Market Conduct Regulations, by trading in the shares Alhhsa Development Co. based on insider information, during the time period on which he acted as the vice-chairman of the Company's board of directors and the chairman of the executive committee in the Company under the board of directors. The Appeal Committee's resolution included the imposition of a number of fines on them, detailed as follows:

1. Imposing a fine on him amounting (100,000) One Hundred Thousand Saudi Riyals for these violations.
2. Obliging him to pay (222,408.65) Two Hundred Twenty-Two Thousand, Four Hundred Eight Saudi Riyals and Sixty Five Halalas to the Capital Market Authority's account, for the illegal gains resulted from these violations on his investment portfolio.
3. Prohibiting him from trading by buying shares of the companies listed on the Exchange for his own account or in favor of others, for a period of one year.
4. Prohibiting him from working in companies listed on the Exchange for a period of one year.

Persons affected by these acts may file a compensation claim to the Committee, provided that such claim is proceeded by a complaint filed to the Authority.