Title: Resolution No. (133) of 2023 Regarding the Transfer of Securities Activities License to Al-Safat Investment Company as a Result of Executing a Merger Process

Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto; and

- Based on the extraordinary general assembly Resolution of Al-Safat Investment Company held on 18/05/2023, approving the merger process by amalgamation through dissolution of Cap Corp Investment Company and transferring its liabilities to Al-Safat Investment Company for the purpose of merger, and subscribing the existing shareholders of Cap Corp Investment Company in the increased capital shares of Al-Safat Investment Company. This also involves amending the contract of Al-Safat Investment Company by adding the activity of Custodian resulting from the merger process within the Company’s activities, and notating the aforementioned with the Commercial Register Department at the Ministry of Commerce and Industry on 31/05/2023 and 12/06/2023; and

- Based on the extraordinary general assembly Resolution of Cap Corp Investment Company held on 11/05/2023 approving the merger process by amalgamation through dissolution of Cap Corp Investment Company and transferring its liabilities to Al-Safat Investment Company for the purpose of merger and notating the aforementioned with the Commercial Register Department at the Ministry of Commerce and Industry on 20/08/2023; and

- Based on the approval of the Capital Markets Authority on the execution of the merger process by amalgamation between Al-Safat Investment Company and Cap Corp Investment Company, issued on 29/08/2023; and

- Based on CMA Board of Commissioners Resolution passed in its meeting No. (28) of 2023 held on 26/09/2023.

- Based on Resolution No. (24) of 2023 regarding the amendment of the approval authorizations of the Supervision Sector’s procedures issued on 12/02/2023.

The Following Was Resolved
Article (1)
Al-Safat Investment Company is hereby licensed to practice the activity of Custodian pursuant to this Article.

Article (2)
The license of the mentioned Company shall be effective as of the date of notating the merger in the Commercial Register on 20/08/2023.
The mentioned Company shall also pay the prescribed fee upon renewal of the license for any subsequent period, pursuant to the provisions of Law No. 7 of 2010 and its Executive Bylaws, amendments thereto, and the resolutions and regulations of the CMA.

Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of issuance, and it shall be published in the Official Gazette.

Othman Al-Issa
Acting Managing Director
Issued on: 01/10/2023.

Copy of the Official Document