Title: Press Release: Suspension of Trading of Jiyad Holding Company's Shares Listed at Boursa Kuwait Securities Exchange

Kuwait, December 4, 2024 – In pursuit of the continuous efforts of the Capital Markets Authority (CMA) to protect investors from any actions or behaviors that the securities may be exposed to that may violate Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto, and in implementation of the provisions of the mentioned Law and its Executive Bylaws, the CMA Board of Commissioners issued in its meeting No. (38) of 2024 held on 04/12/2024  a Resolution stipulating the following:

The shares of Jiyad Holding listed in Boursa Kuwait Securities Exchange are hereby suspended from trading according to Items No. (1), (3), and (4) of Article (1-20) 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 amendments thereto, which stipulate the following:

“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.
4. If the Issuer fails to submit any data or documents required by the Authority within its regulatory scope.”
This will continue until the ends of the CMA’s regulatory procedures represented by reviewing the administrative condition and financial position of the Company.

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

Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.

Furthermore, the Law stipulates the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs pertaining to securities activities.

For further information, please contact:
Public Relations & Media Office
Tel: 1888898
Email: pr-media@cma.gov.kw