Imposing a Financial Penalty on Care International Company for Violating the Rules on the Offer of Securities and Continuing Obligations

فرض غرامة مالية على شركة كير الدولية، لمخالفتها قواعد طرح الأوراق المالية والالتزامات المستمرة

The Capital Market Authority's Board issued a decision imposing a financial penalty of SAR 10,000 on Care International Company for violating paragraph (11) of Article Eighty of the Rules on the Offer of Securities and Continuing Obligations (as amended by Board Resolution No. 8-5-2023 dated 18/01/2023), for failing to immediately disclose to the Authority and the public: a benevolent loan of SAR 4,154,812.75 given to the Company on 20/06/2023 by its former board chairman (term ended 01/11/2025), exceeding 1% of the Company's total revenue per its audited financial statements for the year ended 31/12/2022; and a benevolent loan of SAR 4,270,000 given to the Company on 05/10/2023 by a former board member (same term), also exceeding that 1% threshold.

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