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Title: Press Release: Cancellation of Listing of Yiaco Medical Company's Shares from Boursa Kuwait Securities Exchange
Date Publish
24 September 2023
Kuwait, September 24, 2023 –The Capital Markets Authority (CMA) is committed to safeguarding investors and ensuring compliance with 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, the CMA Board of Commissioners Resolution passed in its meeting No. (27) of 2023 held on 20/09/2023 its Resloution stipulating the following:
“The listing of Yiaco Medical Company’s Shares is hereby cancelled from Boursa Kuwait Securities Exchange, according to Items No. (3) and No. (8) 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, unless the Company addresses the reasons for the suspension and any other requirements that may arise within 4 and a half months from the CMA’s Resolution. The Company should provide the CMA with a weekly report on the progress made in resolving the suspension of its shares.”
The CMA reiterates its commitment to overseeing and protecting investors, fostering a fair and transparent financial market, and mitigating systemic risks in securities activities. It will continue to ensure compliance with laws and regulations governing securities activities.
Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of 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
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
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