CmaBoardReleases
Title: Announcement regarding issuance of Disciplinary Board Resolution No. (91/2022 Disciplinary Board) (89/2022 Authority) and the imposition of a fine against Jiyad Holding Company for violating the Listing Rules.
Announcement regarding issuance of Disciplinary Board Resolution No. (91/2022 Disciplinary Board) (89/2022 Authority) and the imposition of a fine against Jiyad Holding Company for violating the Listing Rules.
For the following reasons:
Provision of Item (1) of Article (1-15) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The Company did not submit copy of its financial statements that ended on 31/3/2022 to Boursa Kuwait and the Authority during the specified period, which ended on 16/5/2022, as it submitted them until 15/6/2022.
The Resolution included the infliction of the following penalty: -
“Jiyad Holding Company is fined an amount of five 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.