United Mining receives court ruling on canceling SAR 14.4M fine

Logo of United Mining Industries Co.

United Mining Industries Co. stated that it received on Jan. 11 a ruling issued on Dec. 27, 2023, by the Administrative Court in Riyadh to cancel the third paragraph of the decision of the Committee for Adjudication of Competition Law Violations on canceling the company's SAR 14.4 million fine. 

The company will bear the fine if the decision is overturned, according to a filing to Tadawul.

United Mining believes that this claim and accusations against it are incorrect, the statement added.

According to data available with Argaam, the stock was listed on the Nomu-Parallel Market in October.

United Mining, according to the supplementary prospectus, received the decision of the General Secretariat of the Committee for Adjudication of Competition Law Violations, which includes imposing a SAR 14.4 million penalty on the company.