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Title: Announcement Regarding Issuance of Disciplinary Board Resolution on Violation No. (3/2018 Disciplinary Board) (2/2018 Authority)
Date Publish
01 February 2018
The Capital Markets Authority announces issuance of a Disciplinary Board Resolution passed in its meeting held on Thursday 1/2/2018 on violation No. (3/2018 Disciplinary Board) (2/2018 Authority) filed against:
Al Aman Investment Company
That is by "warning the Company for not obtaining permission from the Authority before purchasing treasury shares."
This punishment is due to the Company’s violation of the provisions of Article (14-3) of Module Eleven (Dealing in Securities) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The Company executed a total of (14) deals by purchasing treasury shares in a total of 1,894,453 without obtaining the Authority’s permission, for the period from 13/8/2017 to 10/9/2017.
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.
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.
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