Oman: FSA issues warning to Barka water and power company
MUSCAT: The Financial Services Authority (FSA) has issued an official warning to Barka Water and Power Company (SAOG) for breaching disclosure requirements under the Executive Regulations of the Capital Market Law.
According to Administrative Decision No. 12/2025, the company failed to comply with Articles 291, 293, and 298 of the regulations issued under Decision No. 1/2009. The violations pertain to the company's failure to disclose, in a timely manner, material information regarding the extension of power and water purchase agreements with Nama Power and Water Procurement Company (SAOC).
Additionally, Barka Water and Power Company did not adequately disclose information about the awarding of a contract related to power and water desalination using the multi-stage flash distillation method. The company also neglected to confirm, deny, or correct material information that had been publicly disclosed by one of its major shareholders.
The FSA's action is based on Article 58/A of the Securities Law issued by Royal Decree No. 46/2022, which authorises the Authority to impose necessary penalties in cases of disclosure violations.
The Authority reiterated its commitment to upholding transparency and discipline in the financial market. It underscored the importance of listed companies adhering to timely and accurate disclosure of material information in order to safeguard investors' interests and enhance confidence in the market.
The FSA urged all public joint-stock companies to fully comply with the applicable legal and regulatory frameworks governing the capital market.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
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