CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (23/2025 Disciplinary Board) (52/2025 Authority) and imposition of a fine against: Equipment Holding Company for violating the Rules of Disclosure and Transparency.

Announcement regarding issuance of Disciplinary Board Resolution No. (23/2025 Disciplinary Board) (52/2025 Authority) and imposition of a fine against: Equipment Holding Company for violating the Rules of Disclosure and Transparency.

For the following reasons:
Violation of the provision of Item (26) of Article (4-1-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, which stipulated the following:

“A Listed Company shall disclose Material Information within the timing set out in

Article (4-2) of this Module, including but not limited to the following:

……………………….

26- “Disclosure of a call for a meeting of the Board of Directors in the cases set out

in  Appendix  (9)  of  this  Module,  provided  that  such  disclosure  shall  include  a 

summary of the meeting agenda.”.

One of the cases set out in Appendix 9 mentioned in Item (26) above is the following:

“The  Listed  Company  shall  disclose  the  Board  of  Director’s  meeting  in  the  case  that  it  gives recommendations or decisions related to the following:

1. Increase or decrease in capital.”.

It was proven to the CMA that the Company failed to disclose at Boursa Kuwait Securities Exchange the item related to restructuring the Company’s capital through reducing and increasing its capital in the Board of Dirctor’s agenda, disclosed on 23/3/2025.

The Resolution included the infliction of the following penalty: -
“Levying a fine on Equipment Holding Company in 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.

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.