The Kuwait Capital Markets Authority announced that its Disciplinary Board has issued a resolution imposing a KWD 3,000 fine on Burgan Company for Well Drilling for breaching the Listing Rules by filing periodic financial statements late. The breach related to Item (1) of Article (1-16-1) of Module Twelve (Listing Rules) of the Executive Bylaws under Law No. 7 of 2010. The company did not submit its periodic financial statements for the period ended 30/06/2024 within 45 days, with the deadline stated as 14/08/2024 and the submission delayed to 19/08/2024.
Kuwait Capital Markets Authority 2025-02-10
Kuwait Capital Markets Authority fines Burgan Company for Well Drilling KWD 3,000 for late financial statement filing
The Kuwait Capital Markets Authority's Disciplinary Board fined Burgan Company for Well Drilling KWD 3,000 for late submission of periodic financial statements, violating the Listing Rules. The breach involved missing the 45-day deadline for statements ending 30/06/2024, submitted on 19/08/2024 instead of the required 14/08/2024.