CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (67/2022 Disciplinary Board) (63/2022 Authority) and the imposition of a fine against Jiyad Holding Company for violating the Listing Rules

Announcement regarding issuance of Disciplinary Board Resolution No. (67/2022 Disciplinary Board) (63/2022 Authority) and the imposition of a fine against Jiyad Holding Company for violating the Listing Rules.

For the following reasons:

The Company violated provision of Item (2) of Article (1-15) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, as it did not submit copy of its financial statements for the financial year that ended on 31/12/2021 to Boursa Kuwait Securities Company and the Capital Markets Authority within the specified period that ended on 31/3/2022 to date.

The Resolution included the infliction of the following penalty: -

“Jiyad Holding Company is fined an amount of two thousand Dinars for the attributed violation.”

In this regard, the CMA emphasizes the implementation of CMA Law and its Executive Bylaws on all persons dealing in securities activities, and urges them to comply with these rules in order to promote investors' confidence, create a sound investment environment, and implement the Law according to the principles of fairness, transparency, and integrity in line with the best international practice.

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