CMA LAW: Reminding Announcement Regarding the Due Date of the Listed Companies Quarterly Reports

 Reminding Announcement

Regarding the Due Date of the Listed Companies' Quarterly Reports

Kuwait, 28^th December 2014

As part of the CMA's endeavour to protect traders in securities' activities, and to ensure compliance with the provisions of Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating the Securities' Activity and its Executive Bylaw, and the other enforced resolutions and regulations; the CMA reminds all the shareholding companies, which are subject to the provisions of Regulations No. (C.M.A/M.R.S/6/2013) issued on 30/12/2013 regarding "Regulating Shareholding Companies Purchase of their Shares (Treasury Shares) and the Method of their Use and Disposal", of the importance of abiding by such regulations, in particular the provisions of Article (4) – clause Tenth – which require all companies listed in the Securities Exchange to submit a quarterly report to the Authority including all the transactions of its own shares for the time period that the report covers; along with a statement of the treasury shares balance certified by the Clearing  Agency. The report must be submitted within a maximum of ten business days from the end of the period covered in the report.

 The Authority urges all companies listed in the Securities' Exchange, which are subject to those regulations, to abide by their provisions and submit the mentioned report to the Authority within a maximum of ten business days from the end of the last quarter of the current year pursuant to the forms and mechanisms approved by the Authority according to the enforced legislations, and to protect its interests and the interests of persons dealing in securities' activities. Non-compliance with those regulations shall expose the violator to punitive accountability pursuant to Law No. (7) of 2010, and its Executive Bylaw.         

Traders and Licensed Persons can visit the Capital Markets Authority's website (www.cma.gov.kw), Kuwait Stock Exchange's website (www.kse.com.kw), and the Twitter account @cma_kwt to keep up with the Authority's latest awareness announcements.

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