CmaBoardReleases
Title: Resolution No. (112) of 2021 Regarding Suspending the Shares of Al Mudon International Real Estate Company from Trading in Boursa Kuwait
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
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (34) of 2021 held on 29/09/2021.
The Following Was Resolved:
Article (1):
Based on the provision of Item (3) of Article 1-18 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, which stipulate that “The Authority may temporarily suspend trading in the Exchange, and suspend the trading of any Security listed in the Exchange in any of the following cases:
1. Violating the Issuer for any of the obligations imposed on it under the laws and regulations applied by the Authority and the Exchange.
2. ….
3. Achieve investor protection in the markets.”
It is hereby resolved to suspend the shares of Al Mudon International Real Estate Company from trading in Boursa Kuwait, until the Company evaluates its investments listed in the financial assets item, at fair value through the other comprehensive income in the Company's financial position in a manner, mechanism and data that reflect its fair value.
Article (2):
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force as of 04/10/2021, and it shall be published in the Official Gazette.
Prof. Ahmad A. Al-Melhem
Issued on: 04/10/2021