Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) received a letter from an affiliate as regards suspected administrative violations committed by the previous executive management in addition to the internal audit committee's decision on holding related probes, the company said in bourse filing.
SPIMACO did not mention the name of the affiliated company.
Upon finalizing inspection works, the relevant financial impact on SPIMACO's financial results will be determined and any updates will be announced in due course.
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