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Title: Announcement regarding issuance of Disciplinary Board Resolution No. (39/2024 Disciplinary Board) (22/2024 Authority) and imposition of a fine against: Livestock Transport & Trading Company (K.S.C.) for violating the rules of Disclosure and Transparency
Date Publish
18 November 2024
Announcement regarding issuance of Disciplinary Board Resolution No. (39/2024 Disciplinary Board) (22/2024 Authority) and imposition of a fine against: Livestock Transport & Trading Company (K.S.C.) for violating the rules of Disclosure and Transparency
For violating the facts of the Disciplinary Case, as shown by the referral resolution and other documents, it is summarized in CMA’s acknowledgement to Livestock Transport & Trading Company for violating the provisions of Article (4-2-1) of Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010 and their amendments, it was proven that the Company’s failure to disclose material information as follows:
|
# |
Material Information |
Date of Material Information |
Date and Time of disclosure on the Exchange’s Website |
Comments |
|
1 |
Awarding a tender for the supply of meat |
26/12/2022 |
27/12/2022 9:03 a.m. |
The disclosure was not made fifteen minutes before the start of the next trading session, from the availability of the material information |
|
2 |
Signing two contracts for the supply of live cattle |
20/09/2022 |
03/10/2022 1:27 p.m. |
Disclosure of material information is delayed for 9 business days. |
|
3 |
Resignation of the CEO |
31/08/2022 |
08/09/2022 8:19 a.m. |
Delay in disclosure of material information for 6 business days. |
|
4 |
Signing a contract for the construction and maintenance of the Shuwaikh Industrial Project |
17/12/2020 |
20/12/2020 1:10 p.m. |
The disclosure was not made fifteen minutes before the start of the next trading session, from the availability of the material information |
The Resolution included the infliction of the following penalty: -
“Levying a fine against Livestock Transport & Trading Company in the amount of KWD 3,000 (three thousand Dinars) for violating items 1,2,3,4 of the table mentioned in 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 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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