CmaBoardReleases
Title: Resuming the Trading of AL-Bareeq Holding Company's Shares in Boursa Kuwait
Kuwait – November 4, 2021, Within the framework of the Capital Markets Authority’s (CMA) continuous endeavor to protect investors against any practices that may violate the provisions of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments, and in an emphasis on its compliance with the provisions of the mentioned Law and its Executive Bylaws, the CMA Board of Commissioners Resolution No. (3-39) passed in its meeting No. (39) of 2021 held on 03/11/2021 was issued, stating the following:
First: Resuming the trading of AL-Bareeq Holding Company’s shares in Boursa Kuwait as of Monday November 08,2021.
Second: Subjecting AL-Bareeq Holding Company to more supervision in the conduct of its business.
Third: Prohibiting direct or indirect dealings in the shares of AL-Bareeq Holding Company by the Company’s major shareholders, the members of its Board of Directors and the executive management, and all the Company’s insiders as of the date of the share’s resumption until the completion of CMA’s supervisory procedures regarding the observed violations and the issuance of the resolutions of the Disciplinary Board and the Capital Markets Prosecution in its regard.
In conclusion, the CMA emphasizes on continuing its supervisory role in protecting investors, which shall create a financial market characterized by fairness, competitiveness, and transparency as well as reducing the systemic risks expected to occur in the securities activities and ensuring compliance with the Laws and Bylaws related to securities activities.
End-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw