Title: Press Release: Cancelation of the Listing of AAN Digital Services Holding Company's Shares from Boursa Kuwait Securities Exchange

Kuwait, April 20, 2023 – Within the framework of the Capital Markets Authority’s (CMA) continuous endeavor to provide protection to investors, and the risks that the public investors may be exposed to as a result of trading on the shares of companies that violate Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments, and in compliance with the provisions of the mentioned Law and its Executive Bylaws, CMA Board of Commissioners Resolution passed in its meeting No. (12) of 2023 held on 19/04/2023 was issued stipulating the following:
 

“The provisions of “Article (2)” of Resolution No. (168) of 2022 issued on 02/11/2022 Regarding the Cancelation of the Listing of AAN Digital Services Holding Company Shares at Boursa Kuwait Securities Exchange shall be implemented, due to the Company’s failure to meet the recent requirements that would affect the relisting of the shares, represented in the presence of material observations on the financial statements ending on 31/12/2022.”

In conclusion, the CMA confirms that it will continue its supervisory role in protecting investors, which will also create a fair, competitive and transparent financial market, and reduce the systemic risks that are expected to occur in securities activities, as well as working to ensure compliance with laws and regulations related to securities activities.

Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate 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