CMA fines Equipment House for violating disclosure rules

05/09/2023 Argaam
Logo of Medical Equipment House Co. (Equipment House)

Logo of Medical Equipment House Co. (Equipment House)

The Capital Market Authority's (CMA) board imposed a fine of SAR 20,000 on Scientific and Medical Equipment House Co. (Equipment House) for violating paragraph (a) of Article (79) of the Rules on the Offer of Securities and Continuing Obligations, according to a statement.

 

The company did not disclose to CMA and the public without delay the signing of the credit facility agreement with Alinma Bank on Nov. 3, 2022, on the Saudi Exchange (Tadawul) website until Jan. 25, 2023, the regulator said.

 

Equipment House announced, on Jan. 22, that it sealed a SAR 265 million Shariah-compliant credit facility agreement with Alinma Bank to finance newly awarded projects, including financing working capital and avoiding liquidity shortage, according to Argaam's data.

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