CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (05/2023) Disciplinary Board - (178/2022) Authority and imposition of a fine against each of: 1- Tahani Ahmed Al-Foudari -Chairman of the Board of Directors of REAM Real Estate Company, 2- Waleed Eissa Al-Thaqib -Vice Chairman of the Board of Directors of REAM Real Estate Company, 3- Hessah Abdulmalek Mohammad Abdulmalek -Board Member of REAM Real Estate Company For violating the Listing Rules

Announcement regarding issuance of Disciplinary Board Resolution No. (05/2023) Disciplinary Board - (178/2022) Authority and imposition of a fine against each of: 
1- Tahani Ahmed Al-Foudari -Chairman of the Board of Directors of REAM Real Estate Company.
2- Waleed Eissa Al-Thaqib -Vice Chairman of the Board of Directors of REAM Real Estate Company.
3- Hessah Abdulmalek Mohammad Abdulmalek -Board Member of REAM Real Estate Company.
For violating the Listing Rules.

For the following reasons:
They violated the provision of Article (2-4-2) of Module Twelve (Listing Rules) of the Executive Bylaws. They failed to call the general assembly to discuss the resolution of delisting REAM Real Estate Company’s shares from the Exchange within a period of not more than 3 months from the issuance date of the delisting resolution which was on 10/04/2022.

The Resolution included the infliction of the following penalty: -
"Levying a fine against each of:
1- Tahani Ahmed Al-Foudari -Chairman of the Board of Directors of REAM Real Estate Company.
2- Waleed Eissa Al-Thaqib -Vice Chairman of the Board of Directors of REAM Real Estate Company.
3- Hessah Abdulmalek Mohammad Abdulmalek -Board Member of REAM Real Estate Company.
in an amount of KWD 1000 (one thousand Dinars) for each one of them 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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