CmaBoardReleases
Title: Resolution No. (03) of 2024 Regarding the Cancellation of the Securities Activities License of Azyan Capital Company and its Removal from the Licensed Persons Register at the CMA
Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and amendments thereto; and
- The application submitted by Azyan Capital Company to cancel all securities activities and remove its name from the licensed persons register at the CMA; and
- The decision of the Extraordinary General Assembly of Azyan Capital Company passed in its meeting on 14/11/2023 regarding approving the amendment of the objectives for which the Company was established pursuant to the provisions of the Commercial Companies Law No. (15) of 1960, and notation of the same in the commercial register at the Ministry of Commerce & Industry on 04/12/2023; and
- Based on Resolution No. (24) of 2023 regarding amending the approval authorizations of the Supervision Sector’s procedures issued on 12/02/2023.
The Following Was Resolved
Article (1)
The license of all securities activities of Azyan Capital Company is hereby cancelled, and it shall be removed from the licensed persons register at the CMA.
Article (2)
The Company shall meet all legal obligations set by Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments, for the period prior to the enforcement of this Resolution.
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.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 07/01/2024