CMA LAW: Announcement regarding issuance of Disciplinary Board Resolution No. (12/2024 Disciplinary Board) (169/2023 Authority) and imposition of a fine against: Mena Real Estate Company for violating the Listing Rules

Announcement regarding issuance of Disciplinary Board Resolution No. (12/2024 Disciplinary Board) (169/2023 Authority) and imposition of a fine against: Mena Real Estate Company for violating the Listing Rules

This is due to the Company’s violation of Item (1) of Article (1-16-1) of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 and their amendments. The Authority has conclusively proven that Mena Real Estate Company did not submit a copy of its periodical financial statements for the financial period ending on 30/9/2023 to the Authority within forty-five days which the statement was prepared with respect to the periodical financial statements ending on 14/11/2023 to date.

The Resolution included the infliction of the following penalty: -
" Levying a financial fine against Mena Real Estate Company in the amount of 1,000 KD (one 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.

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