Title: Resolution No. (134) of 2023 Regarding the Cancellation of the Securities Activities License of Cap Corp Investment Company and its Removal from the Licensed Persons Register at the CMA

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, and notating the aforementioned with the Commercial Register Department at the Ministry of Commerce and Industry on 31/05/2023; 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 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)
The license of all securities activities granted to Cap Corp Investment Company is hereby cancelled and removed from the licensed persons register at the CMA as of 20/08/2023. 

Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.

Zeyad Al-Fulaij

Head of Supervision Sector

Issued on: 01/10/2023

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