CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (119/2022 Disciplinary Board) (139/2022 Authority) and imposition of a fine against AAN Digital Services Holding Company for violating the Listing Rules

Announcement regarding issuance of Disciplinary Board Resolution No. (119/2022 Disciplinary Board) (139/2022 Authority) and imposition of a fine against AAN Digital Services Holding Company for violating the Listing Rules

For the following reasons: 

For violating the provisions of Item 1 of Article (1-16-1) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, based on the failure of the referred Company to submit a copy of its interim financial statements for the financial period ending on 30/06/2022 within the legally specified period of forty-five days, which ends on 14/08/2022 to date.

The Resolution included the infliction of the following penalty: -

" Levying a financial fine against AAN Digital Services Holding Company an amount of KWD 10,000 (ten 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 Laws 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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