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Kuwait, 31st December 2013 – In line with the Authority's objectives concerning regulating the securities activity in a fair, competitive and transparent manner and guaranteeing the abidance by the rules and regulations related to such activity, in particular the ones related to the controls of the "Mandatory Acquisition"; the Authority has issued on 30/12/2013 regulations in this regard which included the procedures that must be followed when executing the mandatory acquisition, in addition to the mechanism of disclosing this type of acquisition.
The issuance of such regulations is part of the main tasks of the Authority, as specified by Law No. (7) of 2010, regarding regulating the securities activity in general, and regulating the acquisition, merger, oversight and supervision in particular.
These regulations shall clarify the acquisition procedures, and in particular the provisions of the voluntary acquisition. Therefore, the Authority anticipates that the parties concerned with the securities activity shall peruse and follow these regulations, and contact the Authority whenever needed.
Clarification 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 Authority shall regulate and supervise the securities activities, achieve transparency and fairness, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
Title: The Capital Markets Authority Issues its Regulations Regarding Regulating the Mandatory Acquisition Processes
Date Publish
31 December 2013
Kuwait, 31st December 2013 – In line with the Authority's objectives concerning regulating the securities activity in a fair, competitive and transparent manner and guaranteeing the abidance by the rules and regulations related to such activity, in particular the ones related to the controls of the "Mandatory Acquisition"; the Authority has issued on 30/12/2013 regulations in this regard which included the procedures that must be followed when executing the mandatory acquisition, in addition to the mechanism of disclosing this type of acquisition.
The issuance of such regulations is part of the main tasks of the Authority, as specified by Law No. (7) of 2010, regarding regulating the securities activity in general, and regulating the acquisition, merger, oversight and supervision in particular.
These regulations shall clarify the acquisition procedures, and in particular the provisions of the voluntary acquisition. Therefore, the Authority anticipates that the parties concerned with the securities activity shall peruse and follow these regulations, and contact the Authority whenever needed.
Clarification 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 Authority shall regulate and supervise the securities activities, achieve transparency and fairness, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
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