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CMA LAW: Resolution No. (35) of 2024 Regarding the Delisting of the Shares of First Dubai Real Estate Development Company from Boursa Kuwait Securities Exchange
Date Publish
20 March 2024
Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (8) of 2024 held on 20/03/2024 Regarding the Delisting of the Shares of First Dubai Real Estate Development Company from Boursa Kuwait Securities Exchange.
The Following Was Resolved:
Article (1)
The shares of First Dubai Real Estate Development Company are hereby delisted from Boursa Kuwait Securities Exchange, according to Item (4) of Article 2-4-1 (Delisting of Shares of Shareholding Companies from the Exchange) of Module Twelve (Listing Rules) of the Executive Bylaws of Law 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and amendments thereto, effective as of 21/3/2024, after completion of the share swap process and the termination of the legal identity of First Dubai Real Estate Development Company. This is a result of its merger by amalgamation with Mazaya Holding Company, transferring all its financial assets, rights, and liabilities to Mazaya Holding Company, cancelling its license, and deleting the Company from the records of shareholding companies department at the Ministry of Commerce and Industry.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction, effective as of 21/03/2024, and it shall be published in the Official Gazette.
Prof. Ahmad A. Al-Melhem
Issued on: 20/03/2024.
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