Title: Resolution No. (76) of 2023 Regarding the Cancelation of the Listing of Ahli United Bank's (K.S.C.P.) Shares from Boursa Kuwait Securities Exchange

Having Perused: 

- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and their amendments; and 

- Based on CMA Board of Commissioners Resolution passed in its meeting No. (15) of 2023 held on 24/05/2023; and

The Following Was Resolved: 

Article (1)

The listing of Ahli United Bank's (K.S.C.P.) Shares is hereby canceled from Boursa Kuwait Securities Exchange, as a result of the suspension of trading its shares for more than six months without meeting the requirements to resume trading, as the Bank does not wish to resume the trading of its shares on the Securities Exchange as a result of the acquisition of its total capital by Kuwait Finance House Group and the consequent restrictions that prevent trading of the share in the Exchange, according to Item No. (3) of Article 2-4-1 of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments.

Article (2)

The Bank is hereby exempted from implementing Article 2-4-2 and Boursa Kuwait is hereby exempted from implementing Article 2-4-3 of Module Twelve (Listing Rules) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments. This is due to the lack of purpose for applying the aforementioned articles.

Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette. 

Prof. Ahmad A. Al-Melhem 
Issued on: 25/05/2023.

Copy of the Official Document