First Milling pays fine of SAR 6.3 mln for violating implementation of flour production mill system

First Milling Company announced on Tuesday that it had paid a fine of SAR 6,303,176.50 (six million three hundred and three thousand one hundred and seventy-six riyals and fifty halalas) regarding the decision issued by the Committee responsible for reviewing violations related to the implementation of the Flour Mills Law in relation to the lawsuit filed by the General Food Security Authority against First Milling Company.

The Company explained that as neither party involved in the lawsuit has appealed the decision within the allowed timeframe.

The Company said today on Tadawul that there is no financial impact as the Company had already set aside a provision of 8,853,334 million riyals in the financial year 2022.

This comes in reference to the Company’s announcement published on the (Tadawul) website on 26-09-2023, regarding the decision issued by the Committee responsible for reviewing violations related to the implementation of the Flour Mills Law in relation to the lawsuit filed by the General Food Security Authority against First Milling Company.