Mobily clarifies violations committed by company's former executive

15/10/2017 11:12 AST

As a clarification of the CMA announcement published on its website dated 12/10/2017 concerning the completion of all necessary investigations in these violations by the Public Prosecution, and its filing for a lawsuit which was registered on 22/10/1439 H corresponding to 12/10/2017 against these violators before the Committee for the Resolution of Securities Disputes, which have jurisdiction over this dispute.

Mobily thanks the CMA and the Public Prosecution for their eagerness to achieve justice, efficiency and transparency in securities transactions and their protection of the market against illegal practices, and would like to highlight to its shareholders that these procedures concern individuals from the former executive management of the company, and are not against the company itself; therefore the company will not be affected by any negative financial impact.

Mobily would also like to point out to its shareholders that the company has already taken the necessary measures to prosecute a number of its former management to preserve the rights of the company, and trusts the justice of the judiciary to make these efforts successful.

Finally, Mobily would like to emphasize on its appreciation for the efforts exerted by all concerned parties in the country to protect the companies and their shareholders, and pledge its full cooperation with all concerned parties to achieve justice.


Tadawul

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