CmaBoardReleases
Title: Resolution No. (47) of 2022 Regarding the Cancelation of the Listing of National Shooting Company's 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
- CMA Board of Commissioners Resolution passed in its meeting No. (04) of 2022 held on 02/02/2022 Regarding the Cancelation of the Listing of National Shooting Company's Shares from Boursa Kuwait Securities Exchange.
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (11) of 2022 held on 30/03/2022.
The Following Was Resolved:
Article (1)
The listing of National Shooting Company 's shares is hereby canceled from Boursa Kuwait Securities Exchange as of Thursday 31/03/2022. The Company did not take the necessary measures to address the reasons for the suspension stipulated in Resolution No. (12) of 2022 issued by CMA Board of Commissioners on 06/02/2022, in addition to other observations regarding the Company’s financial position of material affect that leads to the futility of continuing the Company’s listing in Boursa Kuwait Securities Exchange.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force as of 31/03/2022, and it shall be published in the Official Gazette.
Prof. Ahmad A. Al-Melhem
Issued on:31/03/2022