CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 22/05/2025 regarding the occurrence of the crimes stipulated in Article (120) and Item (3) of Article (127) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments. The defendant (a listed Company at the Exchange and licensed by the Authority) committed the following:

1- Failure to disclose and deliberate withholding of material information required by the Law and the Executive Bylaws to be disclosed to the CMA and the Securities Exchange, involving a finance and mortgage contract dated 16/04/ 2024, with an associate of a subsidiary.

2- Providing the Authority with false data in the financial statements for the year ending on 31/12/ 2024, due to failure to disclose in the details the mortgages on a group of assets owned by the Authority.