CmaBoardReleases
Title: Circular No. (07) of 2021 Regarding Adding the Item of the Report of Violations which were Monitored by the CMA and regarding which Precautionary Procedures were taken or Penalties were Issued Against the Company in the Agenda of the General Assemblies of the Companies Listed in the Exchange and the Closed Shareholding Companies Licensed to Practice any of the Securities Activities
In activation of the provisions of Article (213) of Law No. (1) of 2016 Regarding the Promulgation of the Companies Law and its amendments, the Capital Markets Authority (CMA) draws the attention of all companies listed in the exchange and the closed shareholding companies licensed to practice any of the securities activities to the need to add the item of the report of violations, which were monitored by the CMA, and regarding which precautionary procedures were taken or penalties were issued against the company in the agenda of the ordinary general assembly, provided that the shareholders shall be permitted to discuss the reasons of issuing any penalty against the company by the CMA and the measures to be taken by the company to correct the violated condition.
Prof. Ahmad Al-Melhem
Issued on: 17/05/2021