The  Financial Services Authority (FSA) has issued Administrative Decision No. (12/2025), warning Barka Water and Power Company (S.A.O.G) for violating the material information disclosure requirements stipulated in the Executive Regulations of the Capital Market Law issued by Decision No. (1/2009).

The decision comes as a result of the company's failure to comply with Articles (291), (293), and (298) of the Executive Regulations of the Capital Market Law. The violation concerns the company’s failure to disclose, in a timely manner, material information related to the extension of power and water purchase agreements with Nama Power and Water Procurement Company (S.A.O.C). Moreover, the company did not fully disclose the details of awarding the contract for power and water desalination using the multi-stage flash distillation method. The company also failed to confirm, deny  or correct material information that was disclosed by one of its major shareholders.

The FSA based its decision on Article (58/A) of the Securities Law issued by Royal Decree No. (46/2022), which authorizes the FSA to impose necessary penalties in the event of disclosure violations.

The FSA emphasized that this action is in accordance with its commitment to ensuring transparency and discipline in the financial market and to protecting investors’ rights by emphasizing  public joint-stock companies’ compliance with timely  disclosure of  material information. The FSA urged all listed companies to fully comply with applicable laws and regulations and stressed the importance of accurate and immediate  disclosure to enhance investors’ confidence in the market.