loading

With reference to the above subject, and the CMA regulations number (هـ.أ.م/ق.ر./إ.م/2/2012) on the disclosure of material information and the announcement mechanism, we would like to inform you that the issued judgment in appeal number 43/2015 Capital Market raised from one of the parties against one of the funds managed by NIC, the court has canceled the first degree ruling issued in favor of the company (Fund manager) and refused the case and forced the company to pay to the appellant an amount of KD 810,221.570 (Eight-hundred and ten thousand and two hundred twenty one Kuwaiti dinar and five hundred seventy Fils). NIC will take all the necessary legal actions in this regard, which will include the cassation of the issued verdict immediately upon getting the full text of the judgment. Further, currently the company cannot determine the financial impact of the judgment on the NIC’s financial statement. We will re-disclose once there are any updates in this case.

myNIC