Equipment House fined for violating rules on offering securities, continuing obligations

19/02/2023 Argaam
Logo of Scientific and Medical Equipment House Co. (Equipment House)

Logo of Scientific and Medical Equipment House Co. (Equipment House)

The Capital Market Authority (CMA) announced today, Feb. 19, the issuance of a decision to impose a fine of SAR 40,000 on Scientific & Medical Equipment House Co. (Equipment House), for the violation of paragraph (a) of Article (79) of the Rules on the Offer of Securities and Continuing Obligations, the regulator said in a statement.

 

The company delayed disclosure to CMA and the public of its awarding of two projects with the Ministry of Human Resources and Social Development (HRSD) on Nov. 21, 2022. The announcement was made on the Saudi Exchange’s (Tadawul) website on Nov. 24, 2022, the regulator said.

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