CMA LAW: The Capital Markets Authority Holds its Second Awareness Workshop on the "Rules of Issuing Preference Shares"

Kuwait, 27th January 2015 - The Capital Markets Authority (CMA) has held its second awareness workshop on Tuesday 27/1/2015 on the rules regulating the issuance and the transactions of the Preference Shares.
This workshop is part of the Awareness Workshop Programme of the first quarter of 2015, which launched last Tuesday.
The workshops are held, as scheduled, in Khaled Al-Kharafi Hall at the Kuwait Stock Exchange – floor (2) at 12:30 to 2:00 PM on Tuesday of every week.
This workshop tackled the topic of the "Rules of Issuing the Preference Shares" through the following aspects:
- The CMA's responsibility towards the Preference Shares, and the scope of their application.
- Types of Preference Shares, and their issuance.
- The basic conditions for the issuer and the issuance.
- The forms of the Expert Investors, and the tasks of the Issue Advisor.
- The prospectus and its conditions.
- The Preference Shares classification and the rights of their holders.
- Amending the shareholders' rights.
- Redeemable Preference Shares and the ones that may be transferred.
- The continuous liabilities towards the Preference Shares and the required notifications.
Additionally, other related issues such as the general provisions of the rules and mechanisms of dealing in the Preference Shares were also covered by the Director of the Corporate Finance and Governance Department.

Clarification to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority shall regulate and supervise the securities activities, achieve transparency and fairness, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.

Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities. 

For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org 

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