The Disciplinary Board decided to impose a KWD 10,000 fine against Al-Madina Finance and Investment Company for violating disclosure, transparency and listing rules, for each of the two violations attributed to the Company.
It was proven that the company did not immediately disclose the material information, i.e., the results of its Annual General Meeting (AGM) held on 20 June 2021, and that it did not submit a copy of its interim financial statements for the financial period ended 30 September 2021 to both the Stock Exchange and CMA, as it should have simultaneously disclosed that information using the appropriate forms within the given deadline.