Title: Resolution No. (95) of 2021 Regarding Suspending the Shares of Al-Bareeq Holding Company
- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and their amendments; and
- The on-site inspection report conducted on Al-Bareeq Holding Company for the period from 21/02/2020 to 31/03/2020; and
- CMA Board of Commissioners Resolution passed in its meeting No. (29) of 2021 held on 25/08/2021.
The Following Was Resolved:
Based on Items (1) and (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.
3. Achieve investor protection in the markets.”
The Board decided to suspend the shares of Al-Bareeq Holding Company from trading in Boursa Kuwait, until the mentioned company completes the control requirements stipulated in Appendix No. (1), (2), and (3) contained in the on-site inspection report conducted on the Company during the period from 21/02/2020 until 31/03/2020.
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force as of 26/08/2021, and it shall be published in the Official Gazette.
Prof. Ahmad A. Al-Melhem
Issued on: 26/08/2021