In reference to the transfer application submitted by Development Works Food Co to transfer from the Parallel Market to the Main Market and the CMA announcement dated 04/03/2021 which includes the referral of a suspicion of a violation to the Public Prosecution. The suspicion is regarding the violation of Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations by a number of investors, where they carried out practices that involved manipulation and fraud in market trades. The suspicion case was regarding them entering purchase orders for the purpose of influencing the share price, and entering purchase orders at the closing auction to achieve a high closing price in the shares of number of listed companies on the Saudi Stock Exchange.

 In coordination with the CMA, The Saudi Stock Exchange (Tadawul) announces the issuance of its resolution dated 26/07/1442H, corresponding to 10/03/2021G  of rejecting  Development Works Food Co. request to transfer from the Parallel Market to the Main Market, accordingly the company will be eligible to re-submit the transfer application after 6 months from the issuance of this resolution.