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Executive Bylaws - CMA

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Executive Bylaws

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  • February 17
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2-8-1 Of Module Twelve: Listing Rules
Section: Chapter Two: Listing Shares of Shareholding Companies
  • Sunday, 12 February 2017

    The Authority may cancel the listing of any of the shares of a shareholding company on the Exchange in any of the following cases: 1. If the company did not abide by any of the listing conditions stipulated in this Module which is related to one of the following: a. Reducing the capital of the listed shareholding company below the minimum limit as stipulated in this Module, unless the company manages to comply with such rules within a year from the date of this reduction. b. Refraining from appointing a Compliance Officer after being notified by the Authority to do so. 2. If a final judgment a resolution was passed to dissolve or liquidate the company in accordance with the provisions of the Companies Law. 3. If the trading of the share was suspended for a more than a period of six months without taking any proper procedures to resume trading by the company. 4. If the company merged with another company or companies whereby such merger leads to the termination of its corporate legal identity. 5. If the listed shareholding company stopped practicing its licensed activities temporarily for more than a year. 6. In case of a Reverse Acquisition which is stipulated in Article (3-10) of Chapter Three of Module Eight of (Mergers and Acquisitions) of these Bylaws.

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